Labor Arbitration: It is a kind of consensus-seeking process which is employed to get agreements between labor and management. It is a form of labor negotiation which can help to address a grievance or a contract dispute, or just assist in the alteration of an ongoing labor contract. The Labor conflict arbitration as a form of job negotiation includes an impartial third party which will help bring labor and management to an agreement over salaries, benefits, work conditions, or everything else.