Examlex
The four step process advocated in benchmarking includes:
Precedent
A new standard that arises from the past practices of either the company or the union.
Past Practices
Historical ways of doing things within an organization, used as a reference for decision-making and policy development.
Labour Relations Statutes
Laws that govern the relationship between employers, employees, and their unions, including rights and obligations.
Good Faith
The principle of acting with honesty, fairness, and sincerity without any intention to deceive or defraud.
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