Explanation:

Concessionary bargaining is based on unions giving back previous benefits to the employer. For instance, trade unions may agree to lower wages in return for job security.This may come during an economic decline whereby job security is more important to the unions than higher wages. Overall, this may actually benefit the company as they won’t have to pay for so many redundancies and can keep workers on.The main aim of concessionary bargaining is to strengthen the business in order to ensure its survival alongside its employees. So unions give back previous benefits in order to secure the businesses long-term future and therefore its members.