Private arbitration as it currently stands in the US is hopelessly broken. There are numerous conflicts of interest for arbiters, all favoring employers. As the article says, arbiters find in favor of employees in 30% of cases at best. I'd prefer to see mandatory arbitration made completely illegal until it can be fixed - if it can be fixed.
The point of arbitration is that it's biased in favor of one party. We have a system to arbitrate disputes between parties with a minimum of bias - it's called the civil court system. If you could 'fix' arbitration, it would be indistinguishable from a court of law.
Probably not, but if you know that arbitrators are paid by the employer, and will be doing repeat business with the employer, and then find for the employer 88% of the time, it ought to raise a few eyebrows.
