Urgent Issues of Improving the Labor Code of the Russian Federation

Abstract

The paper gives a critical assessment of certain provisions of the Russian Labor Code. The purpose of research was to substantiate the need to supplement the Russian Labor Code with the provisions stipulating the mandatory allocation to employees of a part of the surplus capital created by their labor, quotas for the mandatory presence of representatives of labor collectives on directors’ boards and in other governing structures of joint stock companies; as well as the need to revise the employer’s liability for delayed payment of wages and salaries established in the domestic legislation. It is concluded that increasing the level of legal protection of the economic interests of employees of enterprises/organizations by amending the Russian Labor Code will boost the business activity of individuals and legal entities contributing to the sustainable development of a socially-oriented state as Russia positions itself.