12/28/2023 0 Comments Psych speeko agreement![]() In order to increase the level of worker productivity, simply applying conventional Human Resource Management (HRM) practices is not adequate and a sustainable HRM model is a vital requirement as a strategy for dealing with this crisis and sustains the tea industry in the competitive global marketplace. Today, the tea industry in Sri Lanka has been facing the burning issue of declining worker productivity which is the lowest among the tea producing countries in the world. ![]() Therefore, the overall worker productivity in tea industry plays an integral role in terms of national income and foreign exchange earnings. Tea industry plays a prominent and strategic role in Sri Lanka due to its significant impact on national output, employment and socio-economic status. This article discusses on the major conceptual parts of psychological contract which will include importance and significance of psychological contract, difference between psychological and employment contracts, types, causes and effects of breach and violation of the contract. Psychological contract has its tune to epitomize its existence explicitly and implicitly. Lately, we see and hear of numerous issues of tangled employer and employee relationships across the country. This phenomenon being an established term in different parts of the world has only now taken its troll in India. Psychological contract is a newly arousing organizational term that interprets the fulfillment and non-fulfillment of organizational relationships in terms of mutual obligations, expectations and promises. Therefore, this influences the need for psychological contracts. This has an adverse effect on the relationship of its workers and employees which becomes the reason for variations and misconceptualization of perceptions within the organizations. In the recent business environment we experience immense changes affecting the current working of organizations in terms of nature of jobs, downsizing and drastic changes in the technology & market demands which have gone beyond the traditional structure of organizations.
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