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Treasury Minister Allan Bell says unions and employers have to work together to avoid industrial action during a trying economic time.
Manx Telecom workers had threatened to strike over a below-inflation pay offer before more talks hammered out a settlement.
With inflation rising, Mr Bell says demanding inflation-busting rises could lead to firms laying off workers as wage bills go up.
He praised both sides in the Manx Telecom dispute, saying common sense had prevailed:
DoI apologises for motorsport fees error
The chairman of Manx Auto Sport says the club accepts an error was made
Tynwald rejects issuing censure
Members debated the issue for over two hours
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Former Manx Care CEO to take charge of Guernsey health service
Teresa Cope left the Island's healthcare provider last month
