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Collective Bargaining Definition

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¬¬¬¬Wage Bargaining and Trade Unions Activity.
Introduction to Wages and Collective Bargaining:
Wage Bargaining in simple terms indicates negotiation between representatives of employees and employers in order to agree levels of pay. Collective bargaining constitutes one of the core tools for trade unions. The ILO defines it as "voluntary negotiations between employers or employers' organisations and workers' organisation, with a view to the regulation of terms and conditions of employment by collective agreements" Additionally, collective bargaining refers to the course or means of bargaining through dialogue among the partners involved. The outcome thereby is not necessarily an agreement. Collective bargaining is used as a system to improve …show more content…

It would be desirable to know how the factory system came in our country, with all its evils and problems.
The first Cotton Mill in India was established in 1851 in Bombay and the first Jute Mill in 1855 in Bengal. This was the beginning of the modern factory system in India. After 1851 and 1855, the number of factories began to increase both in Bombay and Bengal. The modern factory system brought in its wake employment of women and children, long and excessive hours of work, undermining of morality, lack of education, poor housing and an excessively high death rate. Prof. S. N. Dhyani has observed that the year 1875 was landmark in the history of trade union movement. For the first time in India factory workers united together for securing better working conditions in the factories. The growing consciousness of a common cause for amelioration brought the working class closer despite several hindrances. The Secretary of State for India was kept informed of all these evils of the modern factory system and the first Factory Commission was appointed in Bombay in the year 1875 and the first Factories Act was passed in …show more content…

Micro Economics deals with the concept of Demand and Supply, Elasticity and Different Market Conditions. The different Factors of Production contribute in the Production Process , hence Wage Determination is an important aspect of Micro Economics. Wage includes all forms of remuneration for all human productive activities using one's skills. Thus, wage is the combination of salary, bonus and other forms of compensation. Wage is paid for work as various as that of a blue-collar mechanic, as well as that of a lawyer. Most Labour markets are subjected to Imperfections. These may be both on the demand side and the supply side. Improving productivities is one of the most certain ways of increasing wages , although there is little trade unions can do per se. Trade unions may of course be involved in agreements with employers to increase

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