IMPACT OF COLLECTIVE BARGAINING ON EMPLOYEE COMPENSATION AND WELFARE IN INDIA: MEDIATING ROLE OF POLITICAL INTERFERENCE
The Indian economy has been developing steadily since globalization. Industrial conflicts have also grown multiple times. Collective bargaining is a mechanism to resolve industrial conflicts and collective bargaining aims at arriving at employment terms that are conducive for employers and employees. Collective bargaining yields numerous benefits to the employees such as increased income, better working conditions, retirement benefits, medical benefits, and so on. However, all collective bargaining initiatives are not successful because of multiple trade unions, political interference, inefficient negotiation, and so on. This study aims at analyzing the role of collective bargaining in employee compensation and welfare keeping political interference as a mediator. This study is conducted among the employees working in automobile companies in India. The collected primary data are analyzed, and the results convey that perceptions of collective bargaining, and employee compensation and welfare do not vary from person to person based on age, gender, and job position. But perceptions of political interference vary from person to person based on gender. Male employees have more variance in perceptions of political interference (Mean score: 3.8373) than female employees (Mean score: 3.6830). The results reveal that collective bargaining plays a significant role in getting good pay, retirement benefits, job security, and other benefits (39.08%).
Collective bargaining, Industrial conflicts, Welfare, Compensation, Political interference