Recorded Event
Date: July 17, 2021
The lifeblood of many businesses is their key employees – the people with the crucial customer knowledge and contacts, who know the unwritten techniques and nuances required to keep things moving, who have the respect of the workforce … the people you cannot afford to lose. Other employees may not be as irreplaceable, but if they leave they can take your most sensitive customer and operational know-how and information to your competitors, with devastating results.
The risk of losing key employees has been exacerbated by the Covid crisis. Many of the “ties that bind” employees to employers – the personal connections – have been and will continue to be frayed by remote work, and in the post-Covid economy many companies are looking for a quick fix to get back in the game, and that often entails an effort to poach key personnel from competitors.
Attorneys Mike Trachtman and Chris Ezold provide practical, workable solutions to this critical business issue, in conjunction with the MidAtlantic Employers’ Association. Some of the key topics we will cover include:
- The increasing problems with noncompetition covenants, and what to do about it
- How to effectively use non-solicitation and confidentiality agreements
- Creative bonus and deferred compensation programs that incentivize employees to stay
- Unpacking the pros, cons and myths of “golden handcuffs”, including equity, non-equity and profit-sharing programs