What is a characteristic of a collective agreement?

A characteristic of a collective agreement is that it results from good-faith bargaining between employees and employers. This process involves negotiation between representatives of the employees, often unions, and the employer to reach a consensus on terms and conditions of employment. Good-faith bargaining is a legal requirement in many jurisdictions, as it helps ensure that both parties have the opportunity to express their interests and reach a fair agreement. This collective process aims to balance the needs of the employees with the operational requirements of the employer, creating a mutually beneficial agreement that reflects the contributions and expectations of both sides.

The other options do not represent the essence of collective agreements effectively. For instance, the notion that a collective agreement is solely created by management contradicts the collaborative nature of the agreement, which mandates input from employees or their representatives. Similarly, collective agreements typically do require approval from a regulatory body like the Fair Work Commission to ensure compliance with legal standards, and they are designed to cover groups of employees rather than just individuals, promoting collective bargaining rights and protections.