Some employees working on key positions have access to confidential information that, if fallen into the wrong hands, can become a threat for the business. When such an employee resigns, they are, in a way, taking that confidential information with them. What if they are hired by your competitor and they spill the beans about your potential customers, source of your competitive advantage, or any other classified information? Or maybe they will start their own business using trading secrets of your company and try stealing your clients by offering them a sweeter deal which they know you couldn’t afford to counter?
For protecting your business from such situations, you can ask all of your key employees to enter into a non-compete agreement. You can even make this agreement a compulsory part of your employment contract if you wish. Click here to read more.