Why Company Core Values & Culture Matter During a Super-Election Year

Nearly half of the global population heads to the polls in 2024, impacting global business and HR operations. HR Policy Global’s September 3 webinar provided insights on these changes and what global employers should do now.

Why it matters: The election results in key countries like the European Union, UK, Mexico, Argentina, and India will significantly influence business strategies and HR policies.

Regional insights:

• EU: Despite more seats taken by the right, the EU is expected to continue pushing work and union-friendly laws.

• UK: The new Labor government is high on labor and employment priorities, with potentially significant implications for business operations.

• Mexico: The country is facing challenges with increasing costs due to minimum wage hikes, holiday benefits, and profit sharing.

• France and India: Although Macron and Modi won their elections, challenges persist. Both coalitions struggle to reach agreements and pass significant labor reforms.

Workforce trends: Global talent and skills shortages will persist due to immigration and migration restrictions by multiple governments. Emphasizing cultural components, employee belonging and wellness is crucial for success.

Action plan:

• Employers should stay informed about key elections and their implications to navigate potential changes in labor and business operations successfully.

• Leaders must actively collaborate with their local teams and resources.

• Make caring for your employees the focal point of HR strategies.