Final answer:
The process described is collective bargaining, where employees, represented by a labor union, negotiate with company management to agree on employment terms.
Step-by-step explanation:
The process described in the scenario, where a group of employees negotiates with the management to determine the terms and conditions of employment at a company, is commonly known as collective bargaining. This crucial aspect of labor relations involves a labor union representing the collective interests of the employees engaging in negotiations with the employer or management.
Collective bargaining encompasses discussions and negotiations between the labor union and the employer to establish a mutually agreeable collective bargaining agreement (CBA). This comprehensive agreement outlines the terms and conditions of employment for the workers, covering various aspects such as wages, working hours, benefits, workplace safety, and other employment-related policies.
The primary goal of collective bargaining is to address the inherent power imbalance between employers and individual employees. By uniting as a collective force through a labor union, employees gain a stronger negotiating position. This process ensures that workers have a voice in decisions affecting their working conditions and compensation, fostering a fair and equitable working relationship between labor and management.
Collective bargaining is a cornerstone of labor rights and plays a pivotal role in shaping the employment landscape. It serves as a mechanism to protect workers' rights, improve working conditions, and establish a framework for constructive employer-employee relationships. Ultimately, collective bargaining contributes to creating a more balanced and just working environment for both employers and employees.