New Laws Require Business Tune Up
New laws in Maryland will:
- Accelerate minimum wage increases to $15/hour;
- Establish employer/employee contributions to Maryland’s soon-to-be implemented Paid Family Medical Leave Act; and
- Prohibit non-compete clauses in certain circumstances.
In addition, the Federal Trade Commission is proposing regulations to ban non-compete clauses.
The bottom line: It’s critically important for all businesses to review their business and employment policies, including employee handbooks and employment agreements.
Business owners – even single-member owners – should also review their operating/buy-sell agreements at least every 3-5 years.
Compass Law can help update your employment and business agreements to meet your needs as laws continue to change. Reach out now for a consultation.