interest arbitration

Interest arbitration is a process used to resolve disputes between employers and employees, usually in labor negotiations regarding wages, benefits, and working conditions. When both parties cannot reach an agreement, they may choose to have an impartial arbitrator evaluate the situation and make a binding decision. This process helps ensure fairness and prevents prolonged strikes or labor disputes, allowing both sides to present their arguments and evidence. The arbitrator's decision aims to be equitable, balancing the interests of the employees with the financial realities and operational needs of the employer.