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Collective bargaining is the process by which labor unions and employers negotiate agreements on wages, benefits, hours worked, and other employment terms. The National Labor Relations Board (NLRB) mandates that both parties engage in good faith bargaining, meaning they should meet reasonably and be prepared to negotiate a collective agreement. Mandatory topics for negotiation include compensation, benefits, hours, pensions, insurance, grievance processes, safety, layoffs, discipline, and union security. While the law requires good faith bargaining, it does not necessitate that an agreement is reached. Other negotiation issues can involve employee rights, management control, and benefits for retired union workers.