The CBI Industrial Relations Summit

With inflation set to increase beyond even its current 40-year-high, industrial relations is well and truly back on the agenda - and not just for the railways, but for businesses across all sectors up and down the country.

The CBI and Mills & Reeve LLP held an industrial relations summit with industry leaders that sought to uncover exactly how businesses should be preparing for the rocky months ahead.

We also looked at how employee relations can be used to create a more engaged, skilled, and productive workforce that can drive economic growth in the long term.

Here are some of the key takeaways uncovered:

• Invest in your industrial relations (IR) now to avoid unnecessary issues later

Investing in your business’s employee engagement and relationships with your trade unions and staff forums up-front may very well pay dividends later. Many companies already know that they won’t be able to offer pay rises matching forecast inflation at their next pay round. We heard from companies in this situation who had opened discussions with workers – and trade unions where recognised – on issues that they could offer something on to build goodwill ahead of more difficult pay negotiations.

Disputes, especially where they involve industrial action, can be costly and threaten productivity. That’s why businesses identified thinking about when to involve ACAS as a key consideration. If a neutral third-party could help alleviate a disagreement or tension earlier in the process, then it’s likely to be less costly than going to ACAS only when facing strikes.

• Make sure employees and unions understand your business’ performance and strategy

A good wage settlement affords fair renumeration whilst ensuring a business can effectively invest in its long-term future.

To ensure staff representatives understand where this mutual sweet spot is, it is important that they – and those they represent – are kept well in