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Blau (1964), [6] and Emerson (1976) [7] were the key theorists who developed the original theories of social exchange. Social exchange theory approaches bargaining power from a sociological perspective, suggesting that power dynamics in negotiations are influenced by the value of the resources each party brings to the exchange (a cost-benefit analysis), as well as the level of dependency ...
Collective bargaining consists of the process of negotiation between representatives of a union and employers (generally represented by management, or, in some countries such as Austria, Sweden, Belgium, and the Netherlands, by an employers' organization) in respect of the terms and conditions of employment of employees, such as wages, hours of ...
However, if the demand for labour is larger than the supply, salary increases, as employee have more bargaining power while employers have to compete for scarce labour. [ 5 ] The labour force (LF) is defined as the number of people of working age , who are either employed or actively looking for work (unemployed).
Beck, resulting in "Beck rights" preventing agency fees from being used for expenses outside of collective bargaining if the non-union worker notifies the union of their objection. [21] The right to challenge the fees must include the right to have it heard by an impartial fact finder. [ 22 ]
Economic Conditions: Economic factors such as unemployment rates, economic growth, and industry composition can influence the bargaining power of workers and unions. In times of economic prosperity, workers may have more leverage to negotiate for better wages and working conditions, leading to higher collective bargaining coverage.
Although wages for workers in trade unions are higher than non-union workers, the gap decreased in the late 20th and early 21st Century. [6] This gap decrease could be due to the diminishing ability for unions to get monopoly rents, hence the rents affected by technology, competition from overseas, and deregulation of different firms/workplaces.
Thus, bringing about unions and, in turn, collective bargaining. Collective bargaining is a right for workers and can bring about many benefits, including limiting biases and equity gaps. Thus, ensuring all workplaces are fair. Collective Bargaining has been proven to lower the wage gap and establish more equality in workers and wages. [11]
Sectoral collective bargaining is an aim of trade unions or labor unions to reach a collective agreement that covers all workers in a sector of the economy, whether they wish to be a part of a union or not. It contrasts to enterprise bargaining where agreements cover individual firms.