How the US presidential election could impact workforce management
The current US presidential election campaign is arguably one of the most divisive to have ever taken place, with former Secretary of State and Democratic candidate Hillary Clinton bidding to become America's first female president ahead of Real Estate Businessman Donald Trump for the Republican Party.Clinton and Trump have significantly different views on just about everything, but, naturally, here at Allegis Global Solutions (AGS), we're particularly interested in the potential impact the winning candidate could have on the global workforce.
Here, we take a look at how each candidate's stance on employment policy may affect the way you need to manage your workforce in the future.
How are employment benefits being impacted for retirees and paid family leave?Workforce Magazine recently published an article entitled 'Clinton vs Trump: The Workplace Winner is,’ which began looking at the potential changes the presidential candidates could make to US employment policy.
One key issue is the national retirement age, as close to 76 million US citizens are nearing this stage of their lives. Although being against raising the retirement age is one of the few areas both Trump and Clinton agree on, they have not yet outlined how they will support organizations to manage the boom in retirees.
With so many members of the workforce (baby boomers), set to retire within a relatively short period of time, businesses will need comprehensive talent acquisition strategies to help them to target millennials and other groups to fill the roles retirees are leaving behind.
Maternity leave and other forms of paid family leave are also a prominent workforce management issue in the current campaign, with Clinton stating that she will introduce 12 weeks paid leave for new mothers or workers who need to care for a loved one. In contrast, Trump has stated he will introduce measures to ensure workers are paid for six weeks in these situations, meaning the outcome of the vote could alter the way HR needs to manage the workforce significantly.
Could the Fair Labor Standards Act be overhauled?There is also speculation that the Fair Labor Standards Act could be overturned if Trump triumphs at the polls in November. Having been introduced back in 1937, it addresses the needs of an economy that essentially no longer exists. For example, the Act states that salespeople who sell products door-to-door need to pay tax on their overtime, but those who sell online are exempt from this requirement.
Why workforce visibility is more important than everThe world will have to wait until the polls close on November 8th to find out whether Trump or Clinton will be leading the US over the next four years, but it pays to be prepared for the potential impact that the outcome of the election could have on the workforce.
In particular, the uncertainty surrounding the vote means it is more important than ever for companies to have full visibility of their contingent workforce, especially in light of the fact that immigration laws and other employment policies will be impacted depending on who wins. If immigration reform does take place, organizations may see the line-up of their contingent workforce change significantly, and will need full transparency in order to locate gaps where new talent may be needed.
This is where AGS' Services Procurement Solutions - also known as Statement of Work (SOW) services - come in. SOW services allow for full visibility of an ever-changing workforce, taking into account metrics including labor spend, return on investment and cost per hire.
By embracing SOW services, you can maintain workforce transparency amid dramatic changes to your contingent labor. How do you expect the outcome of the election to affect workforce management? Let us know your thoughts by connecting with us on LinkedIn.