Attracting and retaining employees in the automotive industry can be very challenging, especially when competitors are doing what they can to lure the best talent. After you provide an employee with a good job, training and development, customer contacts, and access to trade secret and other confidential information, it is discouraging, to say the least, when the employee then uses all of that for the benefit of a competitor. In the auto industry, in particular, where trade secrets can provide a competitive advantage to attract and retain business, it is critical to implement certain strategies to help reduce turnover, protect intellectual property, and improve your companies’ economic performance. While you may not always be able to prevent an employee from working for a competitor, you can take certain proactive measures to encourage loyalty and retention, and to minimize the risks of unfair competition.
Consider some or all of these options:
Taking reasonable measures to retain employees and protect intellectual property can minimize the risk of unfair competition in this competitive auto industry. By the time the issue gets to a court, however, business has already been lost. Thus, when a company depends on trade secrets to maintain its competitive advantage, it would be better served by focusing its efforts on preventing the loss in the first place – even if that means implementing the greatest security measures that it can justify or afford.