You can't go to court, sue, or be heard by a panel of jurors. Even the EEOC is against arbitration clauses for employees and suggests mediation rather that arbitration. If your company has an arbitration clause, it should be clearly disclosed and give you time to seek legal advise before signing. However, even after you sign, you have seven to ten days to change your mind. If your company has a mediation clause, you are fortunate because mediation is voluntary, confidential, effective, and cost and time efficient.
Mediation is informal and no rules of evidence apply.
In fact the mediator is really a facilitator who will help you and the other party find a middle ground where you both win. Gives you the control to settle your own disputes directly. Is only binding if you reach and sign an agreement. If no agreement is reached by mediation, you can go to court. A mediator does not have to be a lawyer, but he does need training in mediation.