Today, we're leading digital transformations, bridging the gap between transparency, control, and liquidity, and saying goodbye to noncompetes.
The FTC announces new rule banning noncompetes
The FTC issued its final rule banning noncompete clauses, aiming to boost competition, innovation, and worker freedom.
This move could lead to over 8,500 new businesses annually and raise average worker earnings by $524, all while cutting healthcare costs by billions.
Noncompetes, often seen as exploitative, impact roughly 30 million workers and will no longer be enforceable 120 days after the rule comes in effect. Existing noncompetes for senior executives can remain in force.
For employers, alternatives like NDAs and improving working conditions are options for protecting certain investments and information.
FTC Chair Lina M. Khan state, “The FTC’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business, or bring a new idea to market.
Leadig Digital Transformations in Shareholder Services
Technology continues to reshape the way private businesses operate, presenting both challenges and opportunities for leaders looking to create efficiencies in shareholder management.
Shareholders are increasingly tech-savvy and demand a seamless, digital experience when it comes to ownership.
Fortunately, an abundance of software, services, and apps are now available to help streamline equity operations and communications.
At its core, digital transformation of shareholder services aims to create value for everyone involved. Here's how technology empowers both the business and the shareholders:
Tech & Transparency
Central to leading digital transformations in shareholder services is adopting software solutions built to handle the nuanced needs of private enterprises. Whether through sophisticated equity management platforms or simplified board room software, you can better navigate complex equity structures, foster effective shareholder engagement, and optimize decision-making processes.
Communications & Engagement
Digital tools enable efficient, targeted communication with shareholders. Secure messaging platforms and shareholder portals can keep stakeholders informed of company updates, upcoming events, and voting opportunities. They also give shareholder administrators a centralized place to manage governance and reporting.
Efficiency & Automation
Automating manual processes can revolutionize cumbersome tasks like proxy voting, document distribution, and tracking equity events. This not only reduces manual errors, but also frees up valuable time and resources for your team to focus on strategic initiatives.
As private businesses begin to harness the power of digital transformation in shareholder management, they embark on a journey towards enhanced transparency, efficiency, and collaboration.
Bridging the Gap Between Transparency, Control, and Liquidity
How transparent should we be?
Well, there's no one-size-fits-all answer.
Some family businesses might be perfectly satisfied providing basic financials and sending annual letters. On the other side of the spectrum, enterprises are leaning into modern demands. Shareholders, especially the emerging NextGens, crave insights into governance, strategy, and vision.
More transparency doesn’t have to mean less control. Here, transparency transcends the numbers and data points. It encompasses storytelling and conveying the narrative of the business and its future.
To do this effectively, this entails fostering open lines of communication through regular shareholder engagements, providing not just financial updates but strategic insights and long-term visions.
We’ve only just scratched the surface. Discover more on bridging the gap in this exclusive webinar
