So, for some, this may not be a big deal; however, this is a BIG deal for many! I signed my first noncompete many years ago as a medical device rep and really had no idea what it was all about. As things progressed, I had to sign additional non-compete agreements, and the timing of these was sometimes fascinating. I believe it was used as leverage when starting a new role or a change in the compensation structure that could benefit the employee. A new noncompete awaited my signature.
I realize we are in a waiting period now. However, I do hope we strike a balance on noncompete agreements that are fair and equitable for the employee and employer. There are numerous ways for employers to retain talented employees outside of the noncompete agreement. I have always admired companies that say we do not have non-compete agreements, that if our employees aren’t happy to be here, we don’t want them here, and that we encourage them to look for employment elsewhere with no restrictions.
As an executive recruiter, I have conversations daily about noncompete agreements. I have clients who cannot target or recruit an employee because the individual has a noncompete agreement. I have candidates who have a non-compete agreement that is being enforced even if their previous employer terminated them.
It could soon be a brave new world without non-compete agreements. Employers will need to find additional ways to retain talented employees, and those seeking a new opportunity are welcome to free agency. Please let me know how I can help.
