How will the #FTC's ban on non-competes affect technology workers? For most workers, the ban provides a clear path to change jobs and earn more money over their lifetime. But many junior- mid level #tech workers earn well over the threshold that 'define' the senior executive level. It's unclear whether companies will reclassify these jobs as "policymaking" - particularly if they are working with sensitive, cutting-edge information.
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This article discusses the demise of non-compete agreements in the tech industry, allowing tech workers more freedom to switch jobs. It highlights recent legislative changes and court rulings that have limited the enforceability of non-compete clauses, thereby empowering tech workers to explore new opportunities without facing legal repercussions. Good riddance to non-compete agreements! While they may have had a place in certain contexts, their abuse has stifled innovation and restricted the career growth and mobility of countless professionals. Non-compete agreements have been a contentious issue in the tech industry, with some companies weaponizing them as a threat to retain employees. Moving away from these overly restrictive practices opens up opportunities for employees to pursue their ambitions, collaborate across companies, and drive innovation forward. It's time for a more equitable and empowering approach to employment agreements. #technology #humanresources #informationtechnology #IT #employment
With the FTC considering banning non-competes across industries I can't help but think this will be great for the #employeeownership community. Having heavily researched #ESOPs over the past year or so, it's consistently stood out as the next big thing in enterprise. With the FTC's potential ruling affecting companies everywhere, many will be looking for a competitive edge among their competitors. Companies with current non-competes in place will need to enhance their employee benefits in an effort to increase retention and lower turnover. It seems converting to an employee ownership model can be the vehicle for this improvement as the 200+ executives as ESOPs I've spoken to all report seeing similar benefits in retention due to their ESOP. Do you think this potential change will have a net positive or net negative effect? If you haven't heard much about this new development, check out the official press release announcement below: https://lnkd.in/gF2b5jnS
Product Development | Electrical Engineering | Systems Engineering | LinkedIn Contributor | Aerospace & Defense | AI Enthusiast | Semiconductor
The FTC's recent decision to restrict noncompete agreements could really shake things up. 🚀 By removing these barriers, we might see enhanced job mobility and a potential increase in innovation, leading to more competitive salaries and perhaps a flurry of new startups. 🌟 However, this shift raises some important questions about how companies will protect trade secrets and continue investing in their employees without these agreements. It's a complex issue—do the potential economic and personal gains for workers outweigh the possible risks to business stability and intellectual property security? What are your thoughts on this balance? #FTCChange #InnovationBoost
Some tech workers were disproportionately bound by noncompetes. On Tuesday, the FTC banned the practice. The agency and researchers estimate that the change will result in higher wages, new startups, and more innovation, as workers across industries now have the freedom to leave their jobs and work for company rivals. https://lnkd.in/eVNpv-nU
The right to change jobs is a human right. And now, the Federal Trade Commission is making sure that right is protected. A new FTC rule will ban most noncompete agreements nationwide, which is great news for over a third of tech workers who were previously under such agreements. This ban will allow for more career advancement and wage increases. At the end of the day, people stay at companies where they are respected, challenged, and rewarded. https://lnkd.in/d4-a4AuK #humanrights #technology #noncompete | More: https://lnkd.in/dEJc8FRA
This should be interesting
Some tech workers were disproportionately bound by noncompetes. On Tuesday, the FTC banned the practice. The agency and researchers estimate that the change will result in higher wages, new startups, and more innovation, as workers across industries now have the freedom to leave their jobs and work for company rivals. https://lnkd.in/eVNpv-nU
Very curious to see the impact this has on accelerating AI progress.
Some tech workers were disproportionately bound by noncompetes. On Tuesday, the FTC banned the practice. The agency and researchers estimate that the change will result in higher wages, new startups, and more innovation, as workers across industries now have the freedom to leave their jobs and work for company rivals. https://lnkd.in/eVNpv-nU
Strategic Technology Broker, Advisor & Managing Partner of i-core networks
The FTC has made a groundbreaking ruling that companies can no longer use non-compete agreements to stop workers from moving from one job to another. This decision is having a significant impact on businesses and more specifically private equity firms, especially in the tech industry. For many employees, this is welcome news, as non-compete agreements can be a major obstacle to finding new opportunities. As someone who was forced by private equity to sign a nine-page iron-clad non-compete agreement under duress (Less than 72 hours), I know firsthand how frustrating these legal agreements can be. I'm glad to see the Federal Trade Commission stepping in to protect employees as those non-competes destroy a person's mental health and enslave employees to a company. Check out this article to learn more about the ruling and its impact on the tech industry and now know your rights as an employee. THIS IS A HUGE WIN!!!! #FTC #noncompete #techindustry #employee #jobopportunities
Outsourcing Technology Director @ Freeman Company | Skilled servant leader, innovator
🚀 Big News for Tech Professionals! 🚀 The landscape of tech employment is undergoing a seismic shift! The US Federal Trade Commission has issued a game-changing rule that bans most noncompete agreements. This means more freedom for tech workers to move between jobs, potentially leading to an increase in innovationand higher wages. Imagine the possibilities when talented minds are no longer shackled by restrictive clauses. We're looking at the potential creation of 8,500 new businesses and 29,000 more patents each year. This is not just a win for individuals, but a monumental leap for industry ;) The future is bright, and it belongs to those who innovate without barriers. What are your thoughts on this ruling? #TechNews #Innovation #CareerGrowth #NoncompeteBan
Leader of transformational program, product & project initiatives. Certified SAFe 6 Agilist who is passionate about change management, strategy & planning, building outstanding relationships & alignment to deliver value.
A lot of comments and concerns about dissolving the noncompete and people taking IP with them to their next job. This is a legitimate concern, but ultimately people should be free to move from any job to another without it being controlled by their current employer contract. What companies currently save limiting pay increases, which frequently pushes people to look for employment elsewhere, may now go towards legal investigations where an employer thinks a previous employee has shared IP. In cases where a previous employee has shared IP, they should be investigated, if they signed a reasonable NDA.
Some tech workers were disproportionately bound by noncompetes. On Tuesday, the FTC banned the practice. The agency and researchers estimate that the change will result in higher wages, new startups, and more innovation, as workers across industries now have the freedom to leave their jobs and work for company rivals. https://lnkd.in/eVNpv-nU
Ummmm. This story is irresponsibly headlined, incorrectly written in the present tense as if the rule is active now, and doesn’t mention the key aspect of this rule-making process: NON-COMPETES ARE STILL IN EFFECT. The rule won’t come into force for 120 days, if it survives legal challenges. If you read this story and go break your non-compete now, you’re opening yourself up to a lot of pain. This is likely a very good rule that will do away with some egregious contractual shenanigans that are going on in the US. But please understand what is and isn’t happening.
Some tech workers were disproportionately bound by noncompetes. On Tuesday, the FTC banned the practice. The agency and researchers estimate that the change will result in higher wages, new startups, and more innovation, as workers across industries now have the freedom to leave their jobs and work for company rivals. https://lnkd.in/eVNpv-nU
Healthcare operational leader with skills in operational excellence, and strategic implementation who was until recently part-time caregiver for a parent. Experience in building, syndicating and running facilities.
2moIf an employee no longer has a non-compete clause in their contract, can the employer change their pay? That is, an employee with a non-compete is worth more than one without one, so if the non-compete is removed from the overall package, can other factors of the employment package change as well?