Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
Companies Not Protecting Trade Secrets as Economy Rebounds
ALEXANDRIA, Va. -- Companies could be at risk of losing key intellectual capital as the economy continues to rebound and employees begin seeking greener pastures, says the Society for Human Resource Management.In a recent society survey, nearly two-thirds of the HR professionals indicated that their organizations did not have policies in place to protect trade secrets. In addition, only 35% indicated that departing employees are reminded of their trade-secret protection obligation, and only 30% said that current and new employees sign non-compete agreements.This presents a potential serious conclusion since, according to a July 2003 survey conducted by Spherion, 75% of the 3,000 workers surveyed said that they were likely to leave their current jobs within a year, says society President and Chief Executive Officer Susan R. Meisinger."With the job market improving every quarter and predictions that many employees will begin looking for new opportunities, it is paramount that organizations proactively manage trade secrets beginning with educating and training employees about what can and cannot be shared outside of the company," she said.Only 9% said that their organizations provide appropriate training about what constitutes a trade secret, and just 11% said that their organization provides training on the laws that prohibit employees from disclosing trade secrets, the survey found.The Society for Human Resource Management is the world's largest association devoted to human resource management. Representing more than 185,000 individual members, the organization currently has more than 500 affiliated chapters and members in more than 100 countries.Visit the Society for Human Resource Management: www.shrm.org"