STRIKE FUND Meaning and
Definition
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A strike fund refers to a dedicated pool of financial resources systematically accumulated by a labor union or similar collective body to support workers during periods of strikes or work stoppages. It serves as a crucial tool to financially sustain employees who are deprived of income due to industrial actions while negotiating with employers for improved working conditions, wages, or benefits.
The primary objective of a strike fund is to uphold the economic security and protect the welfare of union members during tumultuous labor disputes. Funds are typically contributed by individual union members through regular dues or other forms of monetary contributions. The union then strategically manages these assets, aiming to accumulate enough resources to provide striking workers with monetary assistance, relieving some of the financial burdens faced during the strike period.
Strike funds' specific provisions may vary across different labor organizations. Some funds may allocate fixed amounts per striking employee, while others may distribute financial aid based on need or the duration of the strike. The resources gathered can potentially cover various expenses, such as domestic bills, rent, food, healthcare, and other necessities, enabling workers to withstand the financial strain associated with withholding labor.
Additionally, strike funds offer unions leverage during negotiations, as the financial stability they provide empowers workers to sustain extended strikes, thus putting pressure on employers to meet their demands. This financial safety net plays a pivotal role in fostering unity, solidarity, and resilience among union members while effectively supporting their collective bargaining power.
Common Misspellings for STRIKE FUND
- atrike fund
- ztrike fund
- xtrike fund
- dtrike fund
- etrike fund
- wtrike fund
- srrike fund
- sfrike fund
- sgrike fund
- syrike fund
- s6rike fund
- s5rike fund
- steike fund
- stdike fund
- stfike fund
- sttike fund
- st5ike fund
- st4ike fund
- struke fund
- strjke fund
Etymology of STRIKE FUND
The etymology of the term "strike fund" is a combination of the words "strike" and "fund", both of which have distinct origins:
1. Strike: The word "strike" in this context refers to a work stoppage or refusal by employees to perform their job duties as a form of protest or to achieve certain objectives. It originated from the Old English word "strican", meaning "to go, move, pass over", but also came to encompass the meaning of "to advance, proceed with force".
2. Fund: The term "fund" originates from the Latin word "funds", meaning "a sum of money". Latin "funds" comes from the verb "fundāre", which means "to lay the groundwork or establish a foundation".
When these two words combine, "strike fund" refers to a pool of money or financial resources set aside to support workers who are on strike.
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