WAGE BARGAINING Meaning and
Definition
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Wage bargaining refers to the process by which employees and employers negotiate and come to an agreement on the terms and conditions of workers' wages, benefits, and working conditions. It is a key component of the employment relationship and is often carried out through collective bargaining between labor unions and management.
In wage bargaining, both parties present their respective positions and aim to find a mutually acceptable middle ground that addresses the needs and interests of both employees and employers. The negotiations often cover areas such as salary increases, overtime pay, working hours, vacation time, health benefits, and other aspects that directly impact employees' compensation packages.
Wage bargaining typically involves a series of discussions and negotiations, with each side presenting their viewpoints, making proposals, and counter-proposals until a final agreement is reached. This process may often include compromises and concessions made by both parties to reach a fair and balanced outcome.
The outcome of wage bargaining can have significant implications for both the employees and the business. Ultimately, it determines the wages and benefits that employees will receive, the cost of labor for employers, and the overall competitiveness of the organization in the labor market. Successful wage bargaining results in a collective agreement, which governs the employment terms and conditions for a specific period, usually several years, before renegotiation becomes necessary.
Common Misspellings for WAGE BARGAINING
- qage bargaining
- aage bargaining
- sage bargaining
- eage bargaining
- 3age bargaining
- 2age bargaining
- wzge bargaining
- wsge bargaining
- wwge bargaining
- wqge bargaining
- wafe bargaining
- wave bargaining
- wabe bargaining
- wahe bargaining
- waye bargaining
- wate bargaining
- wagw bargaining
- wags bargaining
- wagd bargaining
- wagr bargaining
Etymology of WAGE BARGAINING
The etymology of the word "wage bargaining" can be broken down as follows:
1. Wage: The word "wage" comes from the Middle English term "wage" or "wagen", which meant "payment for work" or "to pledge". It evolved from the Old English word "wæge", meaning "a payment" or "a pledge". This Old English term ultimately comes from the Proto-Germanic root "*wagno-", which means "pledge" or "wage". The concept of wages as payment for work has been present in various languages and cultures throughout history.
2. Bargaining: The word "bargaining" comes from the Middle English term "bargaynen" or "bargainen", meaning "to negotiate" or "to haggle".
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