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Welcome back to The Weekly Pitch. The FTC announces a new rule that benefits people working in sales in the U.S. We break the news in our Feature Story.
Our Weekly Chart shows too many reps are still missing quota.
According to the B2B Sales Benchmark Report 2024 from Pavilion and Ebsta, 69% of reps missed quota, 17% accounted for 81% of booked revenue (velocity delta), and more deals are getting pushed into the next quarter.
The Federal Trade Commission (FTC) just announced a final rule banning non-compete clauses for most workers in the U.S. This ruling is a major victory for sales professionals, our mobility, and the opportunity to maximize our earnings.
These clauses in employment contracts restricted those of us working in sales (and other professions) from taking a new job or starting a business in a similar field for a certain period after leaving our current position.
Some non-competes last as long as three years, but the most common time restriction is a year. Often exploitative, they limited career choices and kept wages artificially low.
The FTC estimates that 30 million workers, nearly one in five Americans, were subject to a non-compete, forcing them into situations like:
Most existing non-competes will no longer be enforceable once the rule goes into effect (roughly 120 days from now). Employers must notify workers that these clauses are no longer valid.
This ruling empowers workers and fosters a more dynamic and competitive job market. It's a win for the American economy and paves the way for a future where hard work and talent are rewarded, regardless of past employment.
Current State has launched its first-ever Sales Effectiveness Assessment to give something for free to The Weekly Pitch community. This confidential seven-question assessment is relevant for any sales pro at any level.
The assessment takes less than three minutes and includes a free personal report with your score, peer benchmarks, and an action summary.
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Start your week with the stories and insights that matter most to the sales community.