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:
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EU: Despite more seats taken by the right, the EU is expected to continue pushing work and union-friendly laws.
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UK: The new Labor government is high on labor and employment priorities, with potentially significant implications for business operations.
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Mexico: The country is facing challenges with increasing costs due to minimum wage hikes, holiday benefits, and profit sharing.
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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:
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Employers should stay informed about key elections and their implications to navigate potential changes in labor and business operations successfully.
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Leaders must actively collaborate with their local teams and resources.
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Make caring for your employees the focal point of HR strategies.
