BOND- A NECESSITY…

Bonds have been a very important part of Employment Relations since ever. They become even more important as in today’s economy, companies are hiring specialized labour. So saving and using the using the expertise assumes paramount importance. Various reasons can be sited which can justify the existence of a bond such as-

1. The costs that companies bear makes it imperative to have a bond.
2. For ensuring that the organization has the required skills at disposal whenever it requires.

But from the employee point of view, many organizational bonds may appear to be unjust. Its mostly a way an organization ensures IPR(Intellectual Property Rights) inside the organization. They use it as a way to stop the passage of knowledge to the competitors. But nevertheless, the importance of employment bonds can never be undermined.