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🔍 Curious about how the recent FTC ban on non-compete agreements will impact your workplace? Our employment and labor law attorney breaks it down in just 1.5 minutes! 🚫🤝 Watch the video to get the insights you need, and don’t forget to follow us for more expert updates. Stay ahead with VirgilHR! #FTCban #employmentlaw #hrcompliance #virgilhr #noncompeteban

Want to know what the recent FTC ban on non-compete agreements really means for employers and employees? I'll explain it to you in this quick video. Follow our page here: VirgilHR #FTCban

Exciting news for young professionals in the industry! A win for those who have unknowingly signed non-compete agreements as part of their employment packet. It was a privilege to have had the opportunity to speak in front of a committee in Washington about the issue. www.endnoncompetes.com #noncompete Receiving this email from the FTC today was very cool! Federal Trade Commission Office of Policy Planning I am writing as the Director of the Office of Policy Planning at the Federal Trade Commission. I am thrilled to share that today the Commission finalized the Noncompete Clause Rule. The rule provides that it is an unfair method of competition—and therefore a violation of Section 5 of the FTC Act—for employers to, among other things, enter into noncompetes with workers on or after the rule's effective date. It also prohibits employers from enforcing noncompetes with workers other than senior executives as of the effective date. The rule takes effect 120 days from publication in the Federal Register. The final rule is the result of extensive public outreach, fact-gathering, analysis, and review of over 26,000 public comments submitted in response to the Commission's proposal to ban noncompetes. The rule addresses concerns that noncompetes harm competitive conditions in labor markets, as well as in product and service markets—suppressing earnings for workers, new business formation, and innovation. You can read more about the final rule on our website and in this fact sheet.   This rule represents a significant advancement in promoting fair competition. The Commission appreciates your engagement in the rulemaking process.   Sincerely,   Hannah Garden-Monheit Director Office of Policy Planning, Federal Trade Commission

It has finally happened, the FTC has banned non-compete agreements. Why do I think this is good news? Because many employers needed a reality check. Having a non-compete held over my head did not instill trust and respect, nor improve performance or increase loyalty, it held me captive. If you don't have a strong culture already, expect some turnover and intense competition because you've created a uniquely powerful competitor by trying to limit what another human is allowed to do with their expertise, and they likely already have ideas on how to do it different or better. To retain employees: INSPIRE indisputable cultures rather than DESIGN indisputable contracts. https://lnkd.in/gntgrxpT

How to Respond to Employee Questions about the FTC’s Noncompete Ban (As a Company that Uses Noncompetes)

Non-compete agreements have been around since the early 1800s. Fast forward to 2024, and it's time to reevaluate their relevance. Rather than protecting employees, these laws primarily serve the interests of business stakeholders. Outdated practices like this hinder fair competition and limit the opportunities for workers. It's time for a change. I fully support efforts to ban non-compete agreements. What do you think? #noncompete #employmentlaws #workopportunities

Are non-competes really banned? 🤷♀️ On April 23rd, the FTC finalized a rule that bans non-compete agreements nationwide, affecting over 30 million workers. While the rule is set to impact future AND past agreements (yes, you read that correctly, the rule applies both prospectively and retroactively), it's already facing legal challenges that could delay or alter its implementation. What does this mean for businesses and their existing non-compete agreements?   I have some thoughts. #FTCRule #NonCompeteBan

Banning non-competes! Really interesting. Article says that they may still be in force for senior executives. Not sure about what this means for non-solicits? Lots of details coming….and of course court challenges. #trucking #intermodal #drayage #airfreight #warehousing

🚀 Exciting news! The FTC just made history by banning noncompete clauses, paving the way for more freedom and innovation in the workplace. Check out this game-changing article by Orly Lobel in HBR! 💼✨ #EmployeeMobility #Innovation" #NonCompete #Talent

Last week the Federal Trade Commission has voted to ban noncompete agreements in the United States! Moreover, this applies not only to new noncompete agreements but also to existing ones. This policy is set to go into effect in August. Those of us who have employees in the US better watch out, as this could shake things up in a major way. Here's what's on my mind: 1. Job-hopping season may be back. Without noncompete clauses, keeping top talent might get trickier for some companies. They'll definitely need to up their People Ops game to keep their best people onboard. 2. With the influx of top talent entering the job market unrestricted, employers may have to reassess their Employer Value Proposition strategies. What once set them apart on the job market may no longer suffice. 3. We've got some paperwork to shuffle. Contracts and policies will need a tweak to stay on the right side of the law. What's your take on this subject? #HRProfessionals #FutureOfWork #PeopleOperations #NoncompeteClause