Should that be a red flag? Should it be avoided? Obviously I never plan to sue (or be sued by) my employer; I do a great job and any place I choose to work is somewhere I'm sure I'll love. But it seems like this stuff seems pretty scary from stories in the mainstream press like http://www.nytimes.com/2015/11/02/business/dealbook/in-arbitration-a-privatization-of-the-justice-system.html .
How common is this kind of clause in agreements these days? How flexible are employers about negotiating it?