In: Economics
In 3-5 paragraphs describe the advantages of labor unions in American business and manufacturing?
Labor unions are organizations in which employees bond together to collectively voice for negotiations with employers. Advantages of labor unions in American Business and manufacturing can be:
Negotiation process is simplified. When dealing with a labor union there is no requirement to deal with multiple employees. A union behaves as the representative of all employees, saving time and effort of the employer.
Labor unions help improving labor satisfaction.
Labor unions lead to less turnover. When you have a workforce that is comprised of labor union members, they will not leave their jobs as frequently. They have to pay dues to be a part of the union, and they typically do not want to lose their position in the organization. This saves your business money in the long run by not having to train as many new employees.
Businesses regularly undergoes change if they want to stay at the forefront of their industry. When a business has a labor union to work with, they can work together to facilitate change easier. When the employer knows that change is required, it can disseminate this information to the leadership of the union and the union can then pass the information along to the employees.