How to Prevent Departed Employees from Hurting You through Non-Compete Agreements

With so few available avenues for competitive advantages, some companies resort to questionable tactics to gain an edge.

This may include solely seeking out employees that have inside knowledge of a specific company. While it’s unethical, it isn’t unfathomable, and it certainly isn’t unprecedented. So to protect your business, you should be using non-compete agreements to keep your employees from giving out information that’s critical to your company. As a general rule of thumb, if there’s any bit of information about your company that may hurt your bottom line if it got into the wrong hands, you should be using a non-compete agreement.

Additionally, if you’re in an uber-competitive market, you should absolutely be utilizing a non-compete agreement. This is one issue where a reactive approach is far inferior to a proactive one. Implementing a non-compete agreement isn’t complicated, either, and it’s quickly becoming an industry standard.

With all of the considerations you need to make for your business, the last thing you need is a departed employee giving out insider information about your company. Watch the full video from OpenView Labs for more information on this topic.