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Collective bargaining is the process through which labor unions and employers negotiate agreements on wages, benefits, hours, and other employment conditions. The National Labor Relations Board (NLRB) mandates that both parties engage in good faith, which entails meeting at reasonable times and being prepared to negotiate. Mandatory topics for negotiation include compensation, benefits, work hours, pensions, insurance, grievance procedures, safety, layoffs, discipline, and union security. While employers and unions are required to bargain in good faith on these topics, they are not legally obligated to reach an agreement. The process also addresses employee rights, management control, and benefits for retired union workers.