M.phil is more oriented towards the academic area and Pg Dip in IR or Labour welfare would definitely do you good in industry.If you are interested in Training and development and solely for that purpose you don't have to go in for MA in Psychology.You could opt for the Diploma program conducted by ISTD.
If you are an HR in a corporate, may be you would benefit more from the other two courses.PGDip in IR and the other course in Labour welfare will definitely enable you to have a greater understanding about the labour laws.If you are working in a corporate one needs to have a good grasp of the laws binding the organisation as a whole.If you are a hard core HR person ,then you should go ahead with the Diploma programs!
Regards, narayan
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