Every business has something that sets it apart from the competition, whether it's their strategy for attracting customers or the design of their products. Keeping this information away from competitors and the public can be critical in preserving that competitive edge.
According to NPR News, around 1 in 5 American workers are bound by a non-compete agreement. While you might assume non-competes agreements are only for larger companies, small businesses are finding the value in them as well.
Hiring new employees is no small decision for employers. Not only do they have to find the right person and make an attractive offer, they must also devote considerable resources to training that person and providing him or her with the tools they need to do the job.
Accurate wage and hour records are crucial to employers and employees alike. They are a critical piece of evidence in either building or disputing claims of unpaid wages or overtime, so ensuring there are proper procedures in place to track hours worked is vital.
Labor unions have been dealt a series of defeats in recent years, including the Supreme Court ruling in June that unions cannot require workers to pay union dues or other fees. Therefore, it is considered a big victory that the Missouri voters overwhelmingly rejected the right-to-work law created in 2017.
Trade secrets are a crucial part of any company. They help your business compete in a crowded market. Every company guards its secrets fiercely. However, many companies frequently have to deal with information leaks from current or former employees. These leaks, no matter how inadvertent or seemingly minor, can wreak havoc on a business. It leaves many employers wondering just what would motivate an employee to leak a company secret, and how to prevent such leaks.
There can be a number of different reasons why management or a business owner has not reviewed their employment practices or even have a policy. These can range from the fact that the business is starting to expand beyond a small family-run operation, or perhaps it's something that you have done in the past and have been too busy focused on running the business rather than reviewing its practices.
Companies can make mistakes. There are judgment calls that leadership makes to ideally better position the company. Other compliance problems may result from a lack of good judgment.
Employee stock options have become increasingly popular in recent years. Due in part to the rise of small- and medium-sized startups, stock options are being included in employment contracts more and more frequently. For employees, stock option plans offer a share of their employer's success; for employers, stock option plans attract and retain talent without draining the company's pocketbook.
Restrictive covenants are often a necessary component of employment contracts. They can prevent former employees from poaching their colleagues, ensure company secrets remain private and restrict a departing employee's ability to compete with your company.