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Businesses, including accounting practices, have been urged to adopt certain strategies in order to safeguard themselves as the “Great Resignation” looks set to continue this new year.
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How to safeguard your practice in 2022
04 January 2022
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11 minute read
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According to Rigby Cooke Lawyers’ workplace relations partner Rob Jackson, the increased turnover of employees will put Australian businesses at risk of compromising their IP. As a result, Mr Jackson is urging firms to take the necessary steps now to protect their creation and innovation, before the next wave of resignations hit.
“It takes years to turn innovation into commercialisation, and yet, you can lose your IP in minutes,” Mr Jackson said.
“Businesses, large and small, are vulnerable to the real risk of somebody leaving and taking not only that great idea with them, but the whole system of suppliers, investors and customer data.
“A small organisation may have no safeguards in place. Whereas a large business might become lost in a myriad of policies, and repeatedly amended contracts, where key protections are now poorly expressed.”
There are five measures firms can take now to ensure they're protecting themselves, Mr Jackson said.
The first is conducting an IP audit to identify what assets can be protected by copyright, patents and other means of IP protection and identify which workers have created those rights.
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The second measure is to ensure the business keeps employment contracts up to date and review them regularly, clearly outlining ownership of IP rights.
The third measure would be to clearly define what constitutes confidential information and only disclose information to necessary employees.
"Before disclosing any details, obtain a signed acknowledgement to ensure the person will protect its integrity," Mr Jackson added.
Fourth, Mr Jackson said it's important to ensure contractors have a written agreement which gives the organisation ownership of all IP rights on anything they create during their engagement with the business.
Fifth, Mr Jackson advised firms to conduct a HR audit.
"Do you know how strong your workplace culture is? Are there issues that may prompt employees to resign such as lack of career progression or bullying?" Mr Jackson asked.
"While protecting the business is important, retaining valuable employees will be equally critical over the next 12 months."
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