HR professionals should be bracing for the outcome of the 2024 presidential election.
In just a few days, voters will head to the polls to elect the next president of the United States and who will make up the 119th Congress.
Much attention has been paid to the presidential contest between the Democratic nominee, current Vice President Kamala Harris, and the Republican contender, former President Donald Trump. Polls have shown the race to be a toss-up.
But whether the House and Senate are controlled by one party — or if there is a division of power — is also a critical issue. The outcome of the Nov. 5 election is likely to have an important impact on a number of key issues that HR experts care about, including regulations tied to compensation and potential changes to employer-sponsored health insurance.
"So much depends on the outcome of the presidential election, but the congressional elections also really matter," says James Klein, president of the American Benefits Council, a policy organization that advocates for employers on issues related to benefits. "Whether anything legislative really happens will largely be a function of whether one party controls both houses of Congress and the White House as opposed to a split. The most significant legislation in the last several years has primarily happened when only one party is in control."
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Abortion is one of these key issues that will greatly depend on which party is in power. And it's a topic that a great number of voters care about. In fact, abortion is the most important issue for female voters under 30, according to KFF (formerly the Kaiser Family Foundation), and Newsweek polling points to abortion overtaking immigration as the second most important
For Ann Olivarius, an attorney who specializes in cases focused on sexual discrimination, harassment, assault and abuse, it's clear this election could help determine the future of this particular issue and others tied to women's rights.
"If [Harris] wins this election, it will be symbolic," says Olivarius. "It's simply bizarre that we've only had male presidents until now. In a way, you could say the presidency is the ultimate glass ceiling. If she smashes it, she will change what power looks like in the United States."
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Besides focusing on campaign issues, companies have also had to consider how the outcome of the election will affect their business strategy. Fifty-nine percent of U.S. executives say the results of the election from the Nov. 5 election will have the potential to dramatically
It's likely that the labor market will tighten after the election and that could change how employers recruit and retain talent.
"The increase in inflation over the last three years was already putting a lot of down pressure on the labor market." says Jae Gardner, director of operations for recruitment platform Redrob. "With the election looming, companies are still marketing job positions nationally, but focusing a lot more internationally just in case things here get tight."
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Finally, HR professionals will need to contend with potential heightened emotions, especially for workers who are disappointed with the outcome, after election day.
Many Americans are worried about what this year's presidential race will mean for them and the country. Data shows most voters anticipate short- and long-term issues following Nov. 5: A survey by The Associated Press-NORC Center for Public Affairs Research found that approximately 40% of registered voters say they are "extremely" or "very" concerned about violent attempts to overturn the results following the election, and nine in 10 voters in each party fear that democracy will suffer should their non-favored candidate win.
"Employers need to understand that regardless of the outcome, in many cases, about half of their company is going to be [not just] depressed and upset, but quite honestly, scared," says Christy Pruitt-Haynes, head of the talent and performance practice at NeuroLeadership Institute, a global research and training organization. "That is something that is a little different than what we have seen historically."
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