Collective Bargaining - Definition & Meaning
What is Collective Bargaining?
Collective Bargaining is the process by which a group of employees negotiate with the employer in order to bring about an agreement that regulates working conditions. The interests of the employees are generally represented by the members of a trade union to which the employees belong. This collective bargaining model rests on the worker's representatives submitting proposals that they consider ideal, but show willingness to settle for less, and the management willing to concede more than what they publicly acknowledge.
Collective Bargaining is generally carried out in six steps:
The process is completed by closing the negotiation and agreeing to the terms of settlement.
Bargaining coverage are the number of workers who are covered under a successful collective bargaining agreement.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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