Consider the following statements related to Collective bargaining.

1. Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers.

2. The term collective bargaining was first used in 1891 by Beatrice Webb, a founder of the field of industrial relations in Britain. 

which of the above statement is/are correct?