Noncompete definition: A noncompete agreement is a contract where an employee agrees not to compete with an employer after the employment period is over.
- 94% of workers support the elimination of noncompetes as ruled by the Federal Trade Commission (FTC)
- 70% of workers are more likely to work for a competitor of their current or previous employer due to the FTC’s elimination of noncompetes
- 74% of workers have signed a noncompete from a previous or current employer
- Only 10% of workers think noncompetes are fair to employees and employers
- Workers think the negatives significantly outweigh the positives when it comes to noncompetes
Negatives | Positives |
(87%) They restrict potential job opportunities | (25%) They help protect valuable intellectual property |
(80%) Their length can harm job seekers | (18%) They help regulate competition within certain industries |
(73%) They have a negative impact on career growth | (10%) They contribute to a stable market |
- Workers identified the following as potential benefits resulting from the banning of noncompetes:
- (87%) More career and job opportunities for workers
- (78%) Increased fair market competition within industries
- (62%) More lucrative job market for workers
- (60%) Greater employee mobility
- Workers identified the following reasons that could entice them to leave their current employer for a competitor:
- (75%) Higher salary
- (67%) Healthier work-life balance
- (62%) Stronger career growth/promotion opportunities
- (58%) More flexible work schedule (i.e. hybrid and remote days)
Methodology
Monster survey conducted among workers, August 2024.
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