On Jan. 5, 2023, the Federal Trade Commission (FTC) proposed a landmark rule that would ban noncompete clauses in employment agreements. The reason... Noncompete agreements harm competition, suppress wages, reduce labor mobility and hamper innovation.
As a small to medium size business owner, top of mind may be the vulnerability of client relationships and the possibility of competing employers taking on employees under the condition that they bring their relationships over. In addition, what will stop an employee from taking our ideas or our process and take it to use on their own?
While there may be time before the rule is published (if it ends up passing through), now is the time to make sure that employers go the extra mile for their employees.
If you want to chat about this non-compete proposal or adding benefits to help your employees, hit me direct right HERE.