This article covers the evolution of industrial relations in Australia over the last quarter century, a period which marks the country’s shift to a neo-liberal policy regime. A dominant feature of the neo- liberal project has been to shift the industrial relations system towards individualism, erode trade union authority, and extend employer prerogative. These reforms have had serious consequences on employment and its regulation, leading to the ongoing development of short-term and precarious employment, ambiguous employment arrangements, a long-term decline in labour’s share in national income. The conclusion discusses the conditions required for restoring the system of industrial relations towards promoting equity and decent employment conditions.