Importance of collective bargaining:-
Collective bargaining helps to promote cooperation & mutual understanding between the workers and the management. It provides framework for deciding the terms and conditions of employment without resort to strikes and lockouts and without the intervention of outsides. Some importance of collective bargaining:-
1) Collective bargaining increases the morale and productivity of employees.
2) Effective collective bargaining machinery strengths the trade union management.
3) Collective bargaining opens up the channels of communication between the top and bottom levels of the organisation, which may be difficult otherwise.
4) It is easier for the management to resolve issues at the bargaining table rather than taking up complaints of employees individually.
5) Collective bargaining to industrial peace in the country.
6) Collective bargaining is a continuous process.
7) Collective bargaining maintains harmonious relationship.
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