Collective Bargaining – Its Relationship to Stakeholders

Collective bargaining has become a very important institution in the realm of industrial relations and extends to all negotiations that take place between employers on the one hand and one or more workers' organizations on the other to deter-mine the working conditions and terms of employment. Collective bargaining is a method by which trade unions protect, safeguard and improve the conditions of their members' working lives. The bene-fits it has conferred upon workers have been overwhelming. The institution has also benefited the employers and managements in numerous ways. This article examines the relationship of collective bargaining with certain groups of stakeholders during a negotiation. The author highlights notable hurdles in the process of collective bargaining in spite of its continuous steady pace of growth since independence.