Should you sign a non-compete? Just asking this tells me you are on the right path. Read below, see what The Ladders has to say about it (below), and seriously consider consulting a lawyer.
Employers talk about not getting loyalty from the workforce, but guess who created that environment (hint: it rhymes with m-plaw-r)? All of the ra-ra team spirit stuff is fun, but when you get terminated what happens to those hours of team-building warm fuzzies? Should they evaporate? I guess the employer misses that part sometimes, when they FIRE you, you will be upset, and perhaps even see them and their team building exercises as hypocritical at best.
I had never been let go before so when it was my turn I wasn’t that savvy on what or how to negotiate. I walked away with a severance that was okay, I thought. But man it runs out fast! It would have been nice to have someone walk me through this process to help me understand that (a) it would take longer than I think to get a job, (b) perhaps I could have negotiated for some important things, and (c) be careful what you sign!
Instead of telling you what I signed (long story) I’ll share the experience of a buddy from last week. He got terminated and was given a “great offer”:
If you sign this one-year non-compete, we’ll give you two weeks of severance.
So should you sign a non-compete? Is this a great offer? What the heck are they thinking? Two weeks of severance (remember, you still get taxes and all the goodies taken out) just to promise that you won’t compete with them? Unbelievable. Now that is a company that really respects its employees – not! It should be noted that this one employee can recreate what the company has, but do it better, and knows all the places to market it, and market it better!
Should You Sign a Non-compete?
Here’s the top of an internet search on “should you sign a non-compete.” I feel like this sums it up:
What are some of the things that you have seen, or been through, or heard of? What do you recommend people do when they get terminated? What should we watch out for? Share your thoughts here… this is a tough issue and I have no answers (but I can smell a crappy offer a mile away).