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Quicker and cheaper is not a good thing. Your negotiating power is based on your BATNA, or Best Alternative to Negotiated Agreement. With a binding arbitration
by ThrustVectoring 8y ago
Quicker and cheaper is not a good thing. Your negotiating power is based on your BATNA, or Best Alternative to Negotiated Agreement.
With a binding arbitration agreement, the company's BATNA is paying for arbitration proceedings. Without it, their BATNA is getting sued and going through discovery. Discovery in high-profile cases will wind up resulting in a gigantic PR disaster, which means that the company settles for basically whatever damages the aggrieved employee asks for.
- srkmno 8y ago> Discovery in high-profile cases will wind up resulting in a gigantic PR disaster, which means that the company settles for basically whatever damages the aggrieved employee asks for. And that's good thing?!
- ThrustVectoring 8y agoFor employees, yes. The company can offer a settlement for basically all the monetary claims if the employee skips discovery and agrees to not speak about the case.