Executives are spending three or six months on the sidelines before they can start a new job, thanks to the tight talent market.
Australian businesses are tightening the screws on executives who quit, strictly enforcing the non-compete clauses and gardening leave policies in their contracts to keep workers on the bench for months and discourage others from jumping ship.
Mr Haros said he is working on about 10 cases where an employer is suing for loss and damage suffered after a worker walked out during their notice period.“That is something I rarely see – that is, employers suing for lost revenue associated with non-compliance with notice obligations.” “By doing this [enforcing notice periods] they’re buying some time to get their ducks in a row in order to fill any gaps and to potentially recover lost revenue,” Mr Haros said.Mr Sakellaris said the increase in employers enforcing their notice periods has given some candidates pause, over fears their value in the marketplace would be diluted if they are benched for six months.
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