Conciliation

Involves intervention of a neutral third party whose primary purpose is to help the parties fashion a mutually satisfactory agreement

Involves intervention of a neutral third party whose primary purpose is to bring the parties together and keep them talking

Based on persuasion $-$ may have no direct input into the negotiation process or the ability to impose a settlement

Typically occurs during the countdown period prior to a strike or lockout, or during the strike or lockout itself

Mediation

The third party has an active role, meets with each side separately, and then brings them together in an attempt to assist them in bridging the existing gaps

The third party is allowed to have direct input into the negotiation process but cannot impose a settlement

Typically requested after the parties have been negotiating for some time and are starting to reach a deadlock, or after talks have broken down.