wage negotiations

Wage negotiations are discussions between employees (or their representatives, like unions) and employers about the amount of pay and benefits. The goal is to reach an agreement that fairly compensates workers for their skills and effort while considering the company's financial health. Both sides present their priorities—workers seek higher wages and better conditions, employers aim to control costs—and through dialogue, they try to find common ground. Successful negotiations result in a new or renewed contract that defines wages, raises, and other benefits for a set period.