"....I would never submit to binding arbitration as it eliminates my right to appeal if I don't like the outcome,..."
Isn't that a waste of time and cost then? I would not want to go into a non-binding arbitration situation as it can take forever or, if you are an employer, it allows you to rule by fiat. If the employees then went to arbitration over, lets say a contract or employee issue, the employer, even though he may have been found on the wrong end of the decision, can impose what he wants.
We have Non-binding arbitration where I am employed due to a stupid decision by the firefighters association years ago. A few years ago I was denied my step increase because the chief heard a rumor. Though the rumor was untrue and the investigation found the rumor was baseless he decided to deny me my increase anyway. I grieved it and lost. I did not take it to arbitration because the chief, after he lost, would have denied the decision anyway.
My point is that you have binding arbitration or you don't arbitrate. Often contracts require arbitration in lieu of lawsuits. If the arbitration is not binding how does one who is wronged get their opportunity to right the wrong?