Collective Bargaining

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Dictionary Says

Definition of 'Collective Bargaining'

The process of negotiating the terms of employment between an employer and a group of workers. The terms of employment are likely to include items such as conditions of employment, working conditions and other workplace rules, base pay, overtime pay, work hours, shift length, work holidays, sick leave, vacation time, retirement benefits and health care benefits.

In the United States, collective bargaining takes place between labor union leaders and the management of the company that employs that union’s workers. The result of collective bargaining is called a collective bargaining agreement, and it establishes rules of employment for a set number of years. The cost of this employee representation is paid by union members in the form of dues. The collective bargaining process may involve antagonistic labor strikes or employee lockouts if the two sides are having trouble reaching an agreement.  
Investopedia Says

Investopedia explains 'Collective Bargaining'

In the United States, there are unions in both the private sector and the public sector. As of 2009, about 7.2% of private sector employees and 37% of public sector employees were unionized. Categories of workers that belong to unions include grocery store employees, airline employees, professional athletes, teachers, auto workers, postal workers, actors, farm workers, steel workers and many more.
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'Collective Bargaining'

  • Unions: Do They Help Or Hurt Workers?

    http://www.investopedia.com/articles/economics/09/unions-workers.asp
    ... This makes collective bargaining a more complicated task, as union leaders must
    work with a larger set of managers and often have a harder time organizing ...

  • The History Behind Labor Strikes In Pro Sports - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/The-History-Behind-Labor-Strikes-In-Pro-Sports.aspx
    ... That spring, the NFL's collective bargaining agreement had expired. ... The 1994 collective
    bargaining agreement stayed in force until late summer of 2004. ...

  • The Financial Impact Of The NBA Lockout - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1011/The-Financial-Impact-Of-The-NBA-Lockout.aspx
    ... This would have forced the players to reduce their share by 18%, down from the
    57% guaranteed by the expiring collective bargaining agreement. ...

  • An Overview Of The Pension Benefit Guaranty Corporation (PBGC)

    http://www.investopedia.com/articles/retirement/06/pbgc.asp
    ... employer plan as one in which more than one employer is required to contribute and
    that is maintained according to a collective bargaining agreement between ...

  • SIMPLE IRAs: Eligibility Requirements | Investopedia

    http://www.investopedia.com/university/retirementplans/simpleira/simpleira1.asp
    ... The employer maintains no other plans, not including plans for employees whose benefits
    are determined under a collective bargaining agreement (unionized ...

  • NAFTA's Winners And Losers

    http://www.investopedia.com/articles/economics/08/north-american-free-trade-agreement.asp
    ... while putting downward pressure on production-worker wages and benefits, collective
    bargaining clout and available jobs, especially in manufacturing. ...

  • Minimum Wage: Good Cause Or Economic Pariah? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0112/Minimum-Wage-Good-Cause-Or-Economic-Pariah.aspx
    ... Many countries have minimum wage laws, and some have historically relied
    on binding collective bargaining, rather than legislation. ...

  • The German ILO: Why It Matters To Traders

    http://www.investopedia.com/articles/forex/10/german-ilo-release.asp
    ... and treaties adopted by European States, all states subscribe to the standards of
    the ILO, which cover categories such as collective bargaining, child labor ...

  • SIMPLE IRA Vs SIMPLE 401(k) Plans

    http://www.investopedia.com/articles/retirement/04/060904.asp
    ... (Note that exceptions are allowed for employees covered under a collective bargaining
    agreement, and plans that cover these employees are disregarded for this ...

  • The Money Behind The NFL Players' Lawsuit - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0311/The-Money-Behind-The-NFL-Players-Lawsuit.aspx
    ... The players union was legally disbanded, terminating the collective bargaining
    relationship, and filed an antitrust suit against the NFL. ...

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