Definition Of

Good Faith Bargaining

Good faith bargaining is the cornerstone of effective labor-management relations. It means that both parties communicate and negotiate, that they match proposals with counterproposals, and that both make every reasonable effort to arrive at an agreement. It does not mean that one party compels another to agree to a proposal.

Share it:

More from this Section

  • Financial Incentives
    Financial incentives—financial rewards paid to workers whose production exceeds some predetermined standard.
  • Scanlon Plan
    The Scanlon plan is remarkably progressive, considering that is now more than 70 years old. It is an incentive plan developed in 1937 by Joseph Scanlon ...
  • Buddy system
    Buddy system is a form of employee orientation whereby a newly hired employee is assigned to another employee (typically within the same department) who
  • Strikes
    A strike is withdrawal of labor, and there are four main types of strikes. Such as- → An Economic strikes- A strike that results from a failure to agree on the terms...
  • Domestic partner benefits
    Domestic partner benefits can be defined as benefit plan provided by an employer that recognizes individuals who are of the same or opposite sex as spousal equivalents for purposes of health care coverage.
  • Organizational transformation
    Organizational transformation refers to organization-wide changes, such as restructuring operations, introducing new technologies, processes, services or products, implementing
  • Labor-management contract
    Labor-management contract is a binding agreement governing wages, benefits, representation rights and other working conditions between a labor union and management.