The employers' group, IBEC, says proposals for a new partnership agreement will not be decided upon by its members until mid-March at the earliest.
The organisation says the "one size fits all" approach is not appropriate for the current economic situation.
IBEC wants all its members to be given the chance to vote upon it.
IBEC Director General, Turlough O'Sullivan, says they may decide to reject the Government's proposals.
"I think there is a reasonable chance they may reject the terms as they are at the higher end of what is affordable in my view in terms of pay cost, especially when you see what has happened with the PPF.
"The PPF was a very expensive, very unhelpful agreement and if it had been adhered to it would have been bad enough but it wasn't adhered to and terms well in excess of it were forced on many member firms."