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Lecture Notes

Given that labor and management, and I'm going to talk about government on this slide as well, all have different interests or some different interests, it's important to note what each party is interested in or what's the focus of each side as part of this relationship. So labor, relatively simple, labor is interested in higher wages or better wages, benefits, they're interested in safety conditions, which is something that they'll have in common with management, they're interested in both wage and employment security, in quality of work life, and in enhanced job satisfaction. Management, for their part, is interested in lowering labor costs or containing labor costs, which is why there's a divergence of interest with labor. They're interested in higher profits, of course, productivity, product quality where's there's an area of some common ground with labor, interested in reducing employee turnover for the most part, there's another area in which there's common ground with labor or employee interest, employee motivation also some common ground, employee performance, predictability and stability of labor relations, meaning industrial peace, and managerial flexibility, which often causes tension with labor. Government, the representative of the public, in terms of their interests are interested in industrial peace, union democracy, effect on broader, macroeconomic issues like inflation, employment and they are interested in working condition as an issue that is of importance to society at larger to government more broadly.