The Process of Negotiating a Labor Contract with Management Is

question 31

Multiple Choice

The process of negotiating a labor contract with management is known as

• A) ratifying.
• B) stipulating.
• C) manipulating.
• D) interchanging.
• E) collective bargaining.

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Definitions:

Entitlement

A right granted by law or contract, especially to financial benefits from the government.

Bonus

An incentive payment that is supplemental to the base wage.

Base Wages

The initial or fundamental salary paid to an employee before any bonuses, benefits, or overtime are accounted for.

Lump-sum Merit Pay

A one-time payment given to an employee as a reward for performance, rather than a continuous salary increase.