Measuring the impacts of SHRM is a tool to identify the flaws and expediencies in the strategies employed, so as to help the organisation realise whether SHRM practices must be continued or revised. Measuring the effectiveness of SHRM also makes more progress about the usage of human capital and the best fit for their potential utilisation. When the results are not measured, there remains a lack of foresight and thus a lack of proper action plan. This automatically refrains the organisation from being even moderately competitive. Productivity enhancement is and must be the sole objective of organisations. Stakeholders are an integral part of the organisation, and when they are informed of the strategies of SHRM and HCM employed, it makes the execution of the strategy more powerful and unbreakable. This is because each stakeholder would come forward and make constructive suggestions about the good and bad consequences, which when practiced, could avoid major catastrophe.
Industrial Relations (IR) is an important legislative facility and provision which makes the lives of the workers, labourers, and employees more rewarding. The benefits of IR are that it presents a way for the union, the organisation, and the employees to represent their interests and also promote their interest to one another. It has a history of many failures and successes for labour unions, individual employees and organisational shut down, after which a fair working system is developed. Under this working system, the workers, labourers, and employees are able to facilitate their self-interests to the organisation for which they work, in a manner which is legislatively sound and progressive. However, as the world unfolds new orders of market systems and favouritism, there lies a need for altering the IR so as to adjust to the new demand that so rapidly spreads across nations.
IR in Australia has existed since decades and has undergone a substantial change in its nature and applicability. Ever since 1990, there had been a difference in the way states and the federal government operates in terms of their industrial relations. The states had some powers that were significantly different than those of the federal government, especially in deciding the employees’ leaves, wages, working hours, and deciding when and how much they would be represented by unions.