Bargaining power is a concept related to the relative abilities of parties in a situation to exert influence over each other. If both parties are on an equal footing in a debate, then they will have equal bargaining power, such as in a perfectly competitive market. In a competitive market, negotiation and bargaining become synonyms.
Ideally, negotiation results in win-win situation for both the parties. However, most of the times bargaining results in favour of only 1 party.
On 4 November 2006, Hair was banned from officiating in international matches by the ICC following a two-day meeting held by the ICC. The announcement was made by ICC President.
However, The ICC restored Hair to the Elite Umpiring Panel. This showed the weakness on part of ICC and gave Hair the bargaining power to set terms and conditions of the offer.
Though the Employer has a major role to play in the making of the employment contract, employee always has the option to negotiate the terms of the contract and leave or join the job depending on the availability of another offer.
Therefore employer ability to effect the terms of the contract is influenced by availability of requisite personnel with the desired skill set for the job while that of employee is influenced by the alternative earning option available to him.
Thus, whenever the market conditions are not favorable, employer has higher bargaining power and vice versa. But even when the market conditions are not favorable, some employees whom the employer regards as critical has a strong bargaining power.
My making a similar kind of offer will depend on the following factors
Market conditions (Employment Opportunities available)
Relationship with the employer
Job satisfaction
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