What is 'collective bargaining'?

Collective bargaining is a process where unions act as representatives for groups of employees in negotiations with employers to establish terms of employment. This includes discussions about wages, work hours, workplace safety, and other conditions of employment. The aim of collective bargaining is to reach an agreement that benefits both the workers represented by the union and the employer, ensuring better working conditions and fair compensation.

The other options do not accurately describe collective bargaining. Individual negotiation lacks the collective power that unions bring, which can lead to more favorable outcomes for all workers. While dispute resolution is related to labor relations, it is not the primary focus of collective bargaining, which centers on negotiating agreements rather than settling disputes. Additionally, collective bargaining is not a legal requirement for all unions, as its practice is contingent on the willingness of both parties to engage in negotiations.