Dealing with disputes is simply a fact of life. No matter what sort of business partner you work with, or what people exist in your life, you will likely have to deal with dispute management at some point.
To that end, it is important to understand the key players in these scenarios. This includes mediators, who play a crucial role in mediation.
What can mediators do?
FINRA compares mediation to other forms of non-typical dispute resolution. Mediation allows parties to work together and head toward a mutually agreeable final decision.
Mediators do not have the legal power that judges or arbitrators hold. Because of that, they cannot make a decision on behalf of a party. The final decision is always up to the party members, which puts a lot of freedom and responsibility on the shoulders of these individuals.
The skills a mediator has
Mediators do provide numerous skills and bring value to the table, though. Their primary job is to ensure that all parties involved in the dispute can reach a decision that everyone agrees on, with as few reasonable compromises as possible throughout the process.
They also step in to moderate any disputes that may occur during this process. They have de-escalation technique training, and can typically bring down an argument before it gets out of hand.
Finally, they offer a unique perspective that no one else in the group has. Because they are not involved, they can provide opinions and ideas from a third-party point of view, bereft of any underlying motivations. This is what makes them so highly valuable.