ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Business Management => Topic started by: trudgedaddy on October 11, 2015, 05:13:58 pm

Title: industry wide awards, collective agreements and individual contracts
Post by: trudgedaddy on October 11, 2015, 05:13:58 pm

Can someone please tell me the positives and negatives between industry wide awards, collective agreements and individual contracts. ;D ;D ;D Thank you if you can.

Title: Re: industry wide awards, collective agreements and individual contracts
Post by: Callum@1373 on October 11, 2015, 05:59:50 pm

Industry wide award Advantages
- Quick and simple
- No time spent negotiating
- Consistent among organisations
- Min. wage saves money for organisations

Industry wide awards disadvantages
- Lack of employee input
- No added incentives
- Does not tailor to individual organisations

Collective agreements advantages
- Employee input
- Tailored to an organisation
- Increases communication between management and employees

Collective agreements disadvantages
- Time spent negotiating
- Disputes can arise
- High wages may mean less profits

Individual contracts advantages
- Tailors to a specific employees needs
- Suits part-time workers
- Improved morale

Individual contracts disadvantages
- Lack of consistency among employees
- Can make for inefficient use of labour
- Time spent creating and implementing

Hope that helps!