What the FTC’s ban on non-compete agreements could mean for you

The Federal Trade Commission’s (FTC) impact on banning non-compete agreements has raised concerns and widespread backlash from business owners and employees.

Some welcome this change, saying it will open up the job market and allow workers to move from one job to another without restrictions. Others, especially business owners and executives, fear this could result in valuable employees being lost to the competition, with departing employees potentially taking customer information with them. Worse yet, some fear losing trade secrets because an employee may leave for a position at a rival company. And all this also opens up the possibility of an employee starting his or her own business, using the knowledge of his or her previous employer to his or her advantage.

What has the sector said? In a recent online poll published by ISSA, the majority (53%) of respondents said they were satisfied with this FTC ruling. They indicated that it opens up the job market, bringing more applicants to their companies. Nearly a quarter (24%) said they did not see this impacting them, and 15% were concerned about staff retention.

In this episode of Straight Talk! , Scott Tackett, a business development consultant at Violand Management Associates and an industry human resources expert, shares his thoughts and concerns regarding the cleaning and restoration industry. Watch the video or listen to the podcast below.