How might an employer's approach to labor relations change in moving from a shareholder to a stakeholder model of corporate governance?

A stakeholder approach would represent a significant change in an employer's approach to labor relations. Rather than a traditional adversarial approach, high-performance work systems with extensive employee involvement would likely be more widespread. Employers would probably remain neutral in union organizing drives and be more likely to agree to voluntary recognition. Labor-management negotiations would be more integrative in nature. Grievance resolution would probably be more flexible and informal. Companies might be less likely to move production to different locations in response to union activity or modest labor cost differentials. More information would probably be shared with employees and their representatives and employees would have a voice in strategic decisions. Finally, unions might adopt less militant strategies and structures.