From an employer’s standpoint, what are the benefits of each of these alternative methods? How about from an employee’s standpoint?

Human Resource Management- Unresolved Bargaining

When the bargaining process breaks down between union representatives and company management, union members occasionally will vote to stop working until demands are met; if the majority wins, employees will go on strike. There are alternatives to striking, including mediation, a fact-finder process, and arbitration.

From an employer’s standpoint, what are the benefits of each of these alternative methods? How about from an employee’s standpoint?