If you like it, then you have to put a ring on it. In the mediation context, that means documenting your agreement.
It’s a good idea to bring a partially completed Compromise & Release form to the mediation. The document can be completed and signed on the spot. This is efficient and forestalls buyer’s/seller’s remorse (subject to WCAB approval). This would be true for a Stipulation as well.
Sometimes the parties’ agreement is more limited. Mediations can address narrow issues, such as whether a body part will be considered part of the industrial injury or what was the Average Weekly Wage. Document that agreement with a Memorandum of Understanding. The mediator can help you make sure to cover all the issues.