Answer: The answer is competitor bargaining power
Step-by-step explanation:
Employee Bargaining power can be defined as the process of negotiation, administration, and enforcement of agreement by the representative of trade union and management of the organization. The main objective of collective bargaining is to prevent unilateral action by employers. It is the process of making rules that govern the work place. Such as substantive and procedural rules. Substantive rules has to do with financial issues, while procedural rules has to do with the process for reviewing of collective agreement, periodicity of meetings and method of dispute settlement .
Employees organized into a trade union are always able to obtain large wage concessions from their employers than they would as unorganized individuals. The collective bargaining is also of value to the management because it saves them the cost of negotiating with each worker and also simplifies the salary administration system, it also ensures that rules jointly made with the union are easily obeyed by the workers. The other factors is the employees replacement cost, and the employees exit cost.