In the Context of a Bargaining Impasse, Differentiate Between Mediation

question 12

Essay

In the context of a bargaining impasse, differentiate between mediation and arbitration.

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Definitions:

External

Originating from or existing outside the organization or entity in question.

HR Gap

The difference between the current capabilities of the workforce and the skills required to achieve organizational goals.

Human Capital

The collection of skills, knowledge, and experience possessed by an individual or workforce, viewed in terms of their value or cost to an organization.

Forecasted

Refers to the estimated or predicted outcomes in the future based on current and historical data.