In states that presently discourage non-competes, employers could easily offer parting employees a "stay at home" wage of say one third salary, yet they do not. Which implies they do not value non-competition anywhere near what the employee does.
In general it's impossible to put a price on an unworkable concept. Attempting to do so just adds token compensation as a fictional justification for the existing problems.
Massachusetts now has 50% garden leave. But it’s not a panacea. Some see that and go where can I sign up. But the reality is that, for a lot of people, hanging out and maybe doing some side stuff for a year for half their former base pay isn’t a great or even practical option.
I threw out one third as some middle of the road attempt, but yeah in reality that number is going to be much closer to the full salary [0] and that's precisely my point.
Market based incentives only work if there's a clearing price.
[0] Or even higher if a new position would be a significant raise!
Garden leave is better than nothing because it at least puts a cost on an employer but it's very situational.
For some people, at some points in their lives/careers, a one year sabbatical at half salary is manna from the gods. For others, they were planning to shift towards a significantly different role anyway. For still others, it's a big speed bump in their careers and, anyway, how are they going to pay their mortgage and their kid's college?
In general it's impossible to put a price on an unworkable concept. Attempting to do so just adds token compensation as a fictional justification for the existing problems.