The Role of Overconfidence and False Ideas Stifle Labor Talks
JoTo PR Client, Cowden Associates, wrote a bylined article in TLNT called, How Collective Bargaining Is Changing.
Anybody who knows me knows very well that I am a huge baseball fan. I vividly recall back in 1994 during the baseball strike, a concept was presented by two Harvard Business School professors who suggested resuming the MLB season but prohibiting owners and players from receiving their revenue and pay. Instead, they proposed depositing these funds into an escrow fund to be disbursed only after the dispute was resolved. Presumably, the money would rapidly accumulate in escrow during this “virtual strike” thereby motivating each group to reach a deal.
Over the last several years (2018 had the most work stoppages in a decade) bargaining has become fairly different in a lot of ways, due to the fact prior agreements began before the economic upturn, companies are more concerned about the future, healthy financials, time-off costs and a short supply of quality labor. Also, overconfidence and false ideas on negotiations can also come into play and leads negotiators on both sides to believe their cases are stronger than they really are, while underestimating the other side’s willingness to stand firm. Overall, both sides should consider avoiding extreme demands, taking the other sides perspective and transparency with employees/members in cases of collective bargaining negotiations.
Cowden Associates, Inc., headquartered in Pittsburgh, PA, was created in 2001 by the merger of Halliwell and Associates and MMC&P Spectrum Benefits, which was founded by Jere Cowden in 1986. Currently led by President & CEO Elliot Dinkin, Cowden Associates specializes in helping corporate clients find the best solutions, both for the enterprise and for its employees, with regard to compensation, healthcare benefits, retirement and pension issues, and Taft-Hartley fund consulting. Winning Workplaces and The Wall Street Journal have recognized Cowden Associates as a “Top Small Workplace,” a lifetime designation awarded to executives for their ability to build and lead savvy organizations. For more information, visit www.cowdenassociates.com
TLNT discusses human resources and the HR industry, including legal topics and issues, compensation and benefits HR technology and training and development.
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