It is the beginning of the year. The time for New Year’s Resolutions. My little son reminded me on New Year’s Eve for us to make our New Year’s “Revolutions.” His revolution was to do 40 minutes of guitar practice per day (up from 20 minutes). He had carefully written it down and happily wadded it into a ball to throw into the fireplace. As the flame consumed his promise to himself, I complimented him on his lofty ambition. Resolutions are indeed personal intentions of revolutions directed at ourselves. My son’s malapropism has some relevant meaning.
It got me to thinking about appropriate resolutions for executives. There are many I could conjure up, but three seemed like an easy number to digest and remember.
Resolution # 1: Look Before You Leap
At this time of new possibilities and opportunities, an executive who is considering moving to another company should carefully scrutinize his non-compete, non-solicitation, and confidentiality agreements he has with his current employer to ascertain whether he would be in violation. The executive should not try to do this without the assistance of legal counsel. Employers have gotten more aggressive in seeking enforcement of these agreements as evidenced by the many court cases around the country.
Resolution #2: It’s Not Secret If Everyone Knows Or Employees Don’t Know It’s A Secret
Confidentiality Agreements are meant to protect the proprietary information and trade secrets of a business. If the executive leadership has not instituted safeguards, controls, and notices of confidentiality for its important business information, then do not expect a court readily to treat it as confidential information.
An employee confidentiality agreement is a good start. Physical and technological protections of business information along with legal protection of intellectual property through copyrights and patents are a good finish. Think locked filing cabinets, password protected computer files, documents marked “confidential,” and so forth. The New Year is a good time to establish protocols for safeguarding trade secrets, etc.
Resolution #3: Know How To Use Social Media But Don’t Lose The Personal Touch
If you are an executive or professional, no matter what your age, you are committing business development and networking malpractice by not understanding and utilizing social media whether it is LinkedIn, Facebook, Twitter, blogs, etc. Whether you realize it or not, you, your business, or your profession are affected by social media and will continue to be at an accelerated rate.
You don’t have to be a “techy” to join LinkedIn or pen a blog – I am living proof of that. You must do something or you will be increasingly on the margins of access to information sharing. After some skepticism, I recently signed up for Twitter and I will let you know how it goes. Older executives must adapt and be continuous learners.
Despite the rise of social media, it is still not a substitute for meeting with people in the flesh, having conversations on the telephone, and sending thank you notes and condolence cards. Being there and showing up still counts for a lot. Younger executives should cultivate old fashion pressing the flesh.
Senior executives and the twenty-something young Turks can learn from each other. To borrow a phrase from my son, that would be a nice “revolution.”
2 thoughts on “SUGGESTED NEW YEAR’S RESOLUTIONS ON NON-COMPETES, CONFIDENTIALITY AGREEMENTS, AND SOCIAL MEDIA”
Two questions for you: Do you recommend any rules of thumb for length of transition services? How does one evaluate and select a transition services provider? I thought I would ask an expert such as yourself. I know the readers of this blog would be very interested.
Good advice. CEOs and other senior team member should also consider “insurance” in case of an unexpected transition. A well-crafted severance package that includes adequately funded transition services provides that protection.
With such an agreement in place, leaders will make the courageous decisions necessary to change the economic game. We can no longer afford to have our best players on the sidelines. Each company must adapt, innovate and take the kind of risks that will ultimately change the game.