Ogletree Deakins’ Post

FTC’s Nationwide Ban on Noncompetes Set to Spur Business and Innovation: The FTC’s new rule banning noncompete agreements promises to foster innovation, boost worker mobility, and generate significant economic benefits. #Technology #Legislation #Regulation #RiskManagement

New York Governor Kathy Hochul recently vetoed a bill that would eliminate noncompete agreements in the state. Despite being invalid in many other states, noncompete clauses will remain valid in New York and continue to face judicial scrutiny. In the latest blog of The Employment Strategists, Mariya Gonor and I detail the implications for both employers and employees when it comes to noncompete agreements.   #NonCompete #NewYork #Employers #Employees #TheEmploymentStrategists

Having your employee's understand their total compensation and benefits is more important that ever after this most recent #FTC ruling on #NonCompetes. I know that many people have viewed this as the "Golden Handcuffs" coming off. Employers are going to be able to capitalize on offering "the grass is greener over here" packages to entice employees to leave their current company, but in all reality it could be very similar to what they currently have. Effective communication and benchmarking is more important than ever to drive retention.

The Federal Trade Commission has just rolled out a new rule: the nationwide ban on noncompete agreements. This move is set to spark a surge in business innovation and employee freedom across the country. 🌟 What’s Changing? Noncompete clauses, which have restricted employees from moving freely between jobs, are now banned. This means greater career flexibility and opportunities for millions! Business cannot start a noncompete agreement and they must rescind noncompete agreements for non-highly compensated employees. Here is the full rule: https://hubs.la/Q02tZCMG0 📈 Impact by the Numbers: Expect over 8,500 new businesses to launch each year. Workers could see an average wage increase of $524 annually. 🔓 Why It Matters: Noncompetes have long stifled competition and innovation. With their removal, we're stepping into a more dynamic and competitive market where talent can move freely, driving growth and new ideas. 👥 Join the Conversation: How do you think this change will affect your industry? Share your thoughts below or tag someone who could benefit from this news! 👉 Follow us or visit https://hubs.la/Q02tZGBc0 for more updates on changes like these. #BusinessFreedom #Innovation #CareerOpportunities #FTC #NoncompeteBan #Entrepreneurship #HRCompliance #NewLegislation #MaineBiz #PayrollServices #HumanResourceManagement

Navigating workers’ compensation cases can feel complicated. We're here to inform you on what compensation you’re entitled to so you can focus on getting better. Read our article to learn more: https://lnkd.in/g-psF-R6 #WorkersCompensation #InjuryRecovery #Support

Interesting decision by the United States Federal Trade Commission to ban noncompete agreements outside of very senior executive roles. Competition is the baseline requirement for capitalism to succeed and removing artificial barriers which prevent workforce mobility is largely a good thing for the economy. Depending on how this plays out, it should incentivize better firm/employee relationship oriented planning and loyalty as opposed to relying on artificial constraints to limit professional development and career journeys. https://lnkd.in/gUfejjSm

Non-Compete Agreements May Be a Thing of the Past! Watch our CEO, Cassandra Gaines, break down the FTC's recent vote to BAN non-compete agreements for most workers! This is a major win for employee mobility and career growth! Here's a breakdown of what we discuss in the video: ✔ The potential end of non-compete agreements for most workers. ✔What this means for employee mobility and career opportunities. ✔The legal challenges and next steps. Hold on, there's a twist! The U.S. Chamber of Commerce is challenging the ruling in court. So, the final outcome is still uncertain. ⚠ Stay tuned for updates! #CarrierAssure #NonCompeteBan #EmployeeRights #CassandraGaines

Through the busy June renewal period, Angela Bertoncin, Head of Workers Compensation explains how we’re proactively supporting brokers with improved referral times and enhanced pricing, particularly within the mid-market segment. We’re also supporting brokers in WA with navigating the new legislation changes coming into effect on 1 July 2024. You can find out more at our Workers Compensation in WA resource hub: https://lnkd.in/ga9CMWKi Watch here⬇ #MaintainMomentum #InsuranceBrokers #GeneralInsurance #WorkersCompensation

Huge News: Today, the Federal Trade Commission decided to ban noncompete agreements nationwide. These agreements forbid employers from preventing former employees from competing with their business after they leave. This ban "protects the fundamental freedom of workers to change jobs, increase innovation, and foster new business formation.” Could this backfire? #ftc #noncompete #employers #business #legalnews #businesslaw #employeelaw 

It will be interesting to see how this rule fairs in litigation. It is possible that a lower court could negate the new rule, and the matter could go as far as the U.S. Supreme Court. In 2022, the Supreme Court asserted the “major questions doctrine,” essentially saying that if a federal agency wants to solve a significant political or economic problem, it must have congressional support. We may see a similar argument in opposition to the ban.