Evaluating Labour Market Flexibility Using the TOPSIS Method: Sustainable Industrial Relations

One of the needs of a modern knowledge-based economy is a ﬂexible labour market. Dynamic technological progress and information and communication technology (ICT) development can aﬀect the labour market and contribute to the reduction of inequalities in diﬀerent labour-oriented activities (e.g., wages, income, working conditions, job security, career prospects and other work-related circumstances). The challenge of balancing the ﬂexibility of employers with the protection of worker interest is a core element of labour market eﬀectiveness. In the context of the current pandemic and its eﬀects on the workforce, the concern of labour market ﬂexibility is of particular importance. The use of tools to allow for an ex-post benchmarking of ﬂexibility across countries and, at some point, the examination of the eﬀectiveness of public policies to aid in best practices across markets will be crucial in building sustainable industrial relations in a post-COVID-19 era. The importance of ﬂexibility for a smooth functioning labour market is emphasised in several studies. Documents from the European Union (EU), International Labour Organization (ILO) and strategies outlined by individual countries indicate the ﬂexibility of labour markets as priority aspects of social and economic development. Numerous international organisations are making eﬀorts to study how labour markets, in particular businesses, adapt to reforms and external factors (i.e., the current pandemic) to evaluate the importance of the labour market ﬂexibility process . Labour market ﬂexibility is an important aspect of the economic pillar when considering the United Nations Sustainable Development Goals (SDGs) 2030 agenda, i.e., with particular emphasis on SDG 5, 8, 10 and 17 .


Introduction
One of the needs of a modern knowledge-based economy is a flexible labour market. Dynamic technological progress and information and communication technology (ICT) development can affect the labour market and contribute to the reduction of inequalities in different labour-oriented activities (e.g., wages, income, working conditions, job security, career prospects and other work-related circumstances).
The challenge of balancing the flexibility of employers with the protection of worker interest is a core element of labour market effectiveness. In the context of the current pandemic and its effects on the workforce, the concern of labour market flexibility is of particular importance. The use of tools to allow for an ex-post benchmarking of flexibility across countries and, at some point, the examination of the effectiveness of public policies to aid in best practices across markets will be crucial in building sustainable industrial relations in a post-COVID-19 era. The importance of flexibility for a smooth functioning labour market is emphasised in several studies. Documents from the European Union (EU), International Labour Organization (ILO) and strategies outlined by individual countries indicate the flexibility of labour markets as priority aspects of social and economic development. Numerous international organisations are making efforts to study how labour markets, in particular businesses, adapt to reforms and external factors (i.e., the current pandemic) to evaluate the importance of the labour market flexibility process . Labour market flexibility is an important aspect of the economic pillar when considering the United Nations Sustainable Development Goals (SDGs) 2030 agenda, i.e., with particular emphasis on SDG 5, 8, 10 and 17 . Flexibility can maximize stakeholder benefits and aid in creating an overall better functioning labour market. Importantly, flexibility measures that centre themselves on increasing employment opportunities for the disadvantaged (e.g., women, elderly and people with disabilities) can create a significant impact on the labour market and, in turn, limit the occurrence of economic inequality . Respectively, local development and interregional cooperation must be mutually compliant; however, the lack of tools, at present, significantly limits the prospect of designing effective development activities . The tool contributes not only to the general development of economic science, but specifically to the betterment of planned activities in the field of functional domestic labour markets. To better assess design effectiveness, measuring the level of labour market flexibility is explored. This exercise, in theory, should support enhanced sustainable development of the workforce by building a more harmonious labour-market-flexibility-centric society.
In general, labour market flexibility may be defined as the ability of the labour market to adapt to changing economic conditions. The importance of labour market flexibility for economic development was   [10] [11] policies. The concept of labour market flexibility refers primarily to three main components: labour supply, labour demand and labour price. The flexibility of labour demand is understood as employment flexibility, labour supply flexibility as labour market mobility and labour price flexibility as wage flexibility.
Institutional factors understood as industrial relations processes determine the flexibility of the labour market. Moreover, there is also the idea of the offensive and defensive approach (see Lagos ). The traditional defensive approach is based on the view that labour markets are excessively regulated so that it postulates deregulation while the offensive (i.e., active) approach stresses the need to provide the workforce with training and new skills in order to facilitate their adaptability to changes.
In To enhance labour market flexibility, via measurable means, the proper tools are required. The methods of measuring such phenomenon have been conducted for several decades . They vary in character, due to their development, by including adopted components and scope-specific analyses (e.g., monomial measures that consider only one variable versus others that create a set of quantitative and qualitative factors). The methods of measuring labour market flexibility, despite the vastness of the research, are still insufficient. One concern is that their limitations do not allow for extended time-spatial research. In a European context, this is necessary to diagnose the correct performance of European labour markets as well as conduct a common pro-employability policy for the EU. Moreover, it is difficult to identify impact- The limitations of existing methods have led researchers to search for new approaches to assess the level [12] [13] [14] [15] [16] [17] [18] [19] [9] [20] [21] [22] of labour market flexibility. In this respect, synthetic measures seem to be one of the most comprehensive -since they are some of the most important factors affecting flexibility. The extent of the literature on this topic is poor, and there are no widespread best practices. The methods that are most used have time and space constraints on the data. Scholars often use their own indicators, which does not ensure the comparability of the results as well as limits that not only kerb cognitive value but, indirectly, restrict the development of the field and hamper in reaching the SDG targets. As such, this gap makes it necessary to develop new synthetic measures for labour market flexibility by improving the validation and dissemination of both the procedure and research results of the market labour flexibility process.

Development and Findings
Building  results as well as for better statistical examination.