Peace From Mediation
Welcome to Part Two of Why We Like to Say that “Peace Has a Value”
Let’s start this post by circling back on what mediation really is. A great definition has some context. So here’s a definition we like:
“Mediation is a structured, interactive process where an impartial third party assists disputing parties in resolving conflict through the use of specialized communication and negotiation techniques. All participants in mediation are encouraged to actively participate in the process. Mediation is a “party-centered” process in that it is focused primarily upon the needs, rights, and interests of the parties.”
In this post, we take a look at some of the financial benefits of mediation. But mediation is not just a less expensive form of going to trial. We judge our success on the level that our clients achieve peace from mediation. The intangible value of peace of heart and mind cannot be understated.
In part one of our series on peace from mediation, we talked about creating peace through mediation the emotional strain that is relieved when you settle a case; how emotional it can be when you are finally done with it. In this part, we talk about the business side. It’s pretty straightforward. We estimate that each case that goes through mediation saves each party, on average, $200,000 to $250,000 in litigation costs, if the case had gone all the way to trial.
The average mediation last year was fifteen hundred dollars. So, on the low end of $200,000 divided by $1,500, we can see that you save $133 for every $1 you spend on mediation. Or, in business terms, a return on investment of 13,000%. From a business standpoint, there is nothing a litigant can do that will save them more money, or be a better investment, than mediation.
If you are looking to get the best results, at a much more affordable cost, and create peace in your life, then contact us today. We look forward to seeing you.