International Labour Organization has been established hundred years ago with a purpose to institute mechanisms establishing common standards and certain international regulatory framework in response to the globalization processes associated with growing trade, increased competition between countries, increased migration and capital movements. After the World Wart 2 renewed ILO has been expected to become important element of the global governance system. Since the last decades of 20th century, new wave of globalization coupled with deregulation weakened both position of labour in the global economy and that of the ILO. As a consequence, increased inequalities and other consequences of spontaneous unregulated globalisation fuelled populist backlash against free trade and liberal democracy. Technological developments and associated changes in the world of business and the world of work call for the renewal of industrial relations, of concepts of employment relationship, tripartism and social dialogue. But like before, possibility of any improvement, including of restoring more equal bargaining position between parties to an employment relationship, lies in effective use of the freedom of association and the dialogue – founding principles of the ILO. Key