concession bargaining

'concession bargaining' can also refer to...


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Is a term originally coined in the USA to refer to collective agreements in which trade unions surrender improvements in pay and conditions that they have previously secured in order to promote firm competitiveness and protect employment. Concessions have included the surrender of inflation-plus wage formulae, acceptance of pay freezes and two-tier wages, which institute lower pay rates for new starters, and the withdrawal of work rules that inhibit flexibility. Concession bargaining is associated with recession and the intensification of competitive pressure on unionized companies and, according to some analysts, indicates the reduced capacity of unions to secure a wage mark-up for their members in a more open, competitive economy.

Subjects: Human Resource Management.

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