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Vaibhavi Bhat posted an update
HR Learning of the Day Nordic model
The Nordic Model is a socio-economic framework practiced in countries like Sweden, Norway, Denmark, Finland, and Iceland. It combines elements of a market economy with a strong welfare state, aiming to promote social equality, economic growth, and individual freedom. It balances high taxes with extensive public services like healthcare, education, and unemployment benefits.
Features of the Nordic Model:
1. Universal Welfare State: Citizens have access to free or affordable healthcare, education, and social security.
2. High Taxation: Progressive tax systems fund public services.
3. Strong Labor Market Policies: Collective bargaining agreements ensure fair wages and good working conditions.
4. Gender Equality: High emphasis on gender equity in the workplace and society.
5. Flexicurity: Combines flexibility for employers with security for employees, enabling job mobility without risking livelihood.
Nordic Model in HRM:
1. Employee-Centric Policies: Focus on work-life balance, inclusive workplaces, and equitable pay.
2. Skills Development: Investment in employee training and lifelong learning.
3. Collective Agreements: Encourages collaboration between employers, employees, and unions.
4. Diversity and Inclusion: Gender parity in leadership and equal opportunity policies.
Please note that all HR Words have been Sourced from Google/Wikipedia and I copy from different places, edit using GenAI and share with everyone while learning something new everyday. Image Source ChatGPT
Have A Great HR Day
Regards
Dr. Vishal Verma
