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The fine print that follows you out the door: non-compete clauses are spreading
TL;DR
Non-compete clauses are increasingly common, affecting a wide range of workers beyond executives. Recent OECD research reveals that 20-30% of private-sector employees in various countries are bound by these clauses.
✦ Why It Matters
Review and negotiate your employment contracts to understand and potentially challenge non-compete clauses that may limit your career options.
Key Takeaways
- Assess your current employment contract for non-compete clauses.
- Negotiate terms to limit the duration and scope of non-compete agreements.
- Stay informed about local laws regarding non-compete enforceability.
- Consider alternative agreements, like non-disclosure agreements, that may be less restrictive.
Full Summary
Non-compete clauses, which prevent employees from joining competing firms after leaving, have expanded beyond their original intent of protecting trade secrets. Recent surveys conducted by the OECD and Bocconi University across 15 OECD countries, involving over 30,000 workers and 6,000 companies, show that 20-30% of private-sector employees are now subject to these clauses.
Notably, they affect not only high-level executives but also lower-wage workers and those with minimal education. In some countries, such as Sweden, the prevalence reaches up to 41%.
These clauses are often included in contracts without negotiation, indicating a trend towards indiscriminate application. The findings suggest that such restrictions could hinder economic dynamism, wages, and productivity.