End of Noncompete Agreements: Greater Job Mobility
This act aims to ban most noncompete agreements, which restrict employees' ability to change jobs. This will give citizens greater freedom to seek better-paying positions and advance their careers, potentially leading to wage growth and innovation. However, the act includes certain exceptions, such as for business sales.
Key points
Prohibition of most noncompete agreements: Employees will have more freedom to change jobs after their employment ends.
Increased worker mobility: Citizens will have more opportunities to find work in their industry without long breaks.
Potential wage growth: Increased competition for employees may lead to higher wages.
Protection of trade secrets: Companies can still protect their confidential information through non-disclosure agreements.
Exceptions to the ban: Noncompete agreements will be allowed in business sales or for senior executives with severance agreements, but with time and geographic limitations.
Enforcement: The Federal Trade Commission and the Department of Labor will oversee compliance, and citizens can report violations and seek legal recourse.
Introduced
Citizen Poll