2.4 Distinguish between third-party conciliation, mediation, and arbitration.

Third Third-party dispute resolution entails appointing a neutral person to assist the two disputing parties in reaching an agreement. Third-party conflict resolution is more prevalent at organisational levels when conflicting employees can engage a co-worker to reach an agreement. Third-party conflict resolution agreements are not legally binding, making them difficult to employ in collective bargaining. The conciliator’s role is to assist the two disputing parties toward agreement on various issues without enforcing any choices. This strategy is more appropriate when the two parties share a high level of trust.

Mediation is a cost-effective method of resolving dispute in which two disputing parties hire a mediator to help them through the procedure (Findlaw, 2021). The mediator is actively engaged in identifying areas of disagreement and assisting the parties in resolving them in a step-by-step fashion. Mediation is not legally enforceable and is conducted in good faith by the parties in order to obtain a desired agreement. The procedure can be utilized in both individual dispute resolution and collective bargaining of trade unions.

Arbitration is a form of conflict resolution that is mostly utilized when the two parties in disagreement are unable to come to an agreement and require the assistance of third parties to interpret choices and render judgments. In arbitration, the two parties relinquish their decision-making authority and rely on the arbitrators to render a ruling that obligates them to comply. Arbitration is more frequently employed in collective bargaining and, on occasion, when parties are unable to reach an agreement.