3 Reasons CEOs Should Care About the 2020 Election

If you’re a CEO who cares about your business, your employees, and your customers, then you have a lot at stake in this election.

The economic toll of COVID-19 has resulted in unprecedented business closures, layoffs, and hardships for families who no longer have the means to spend money at small businesses that need the support now more than ever.

So what does it really mean for a candidate to be “pro-business” in this election?

As the U.S. continues to face the worst recession since the GR, it’s become clear that CEOs need to take an especially keen look at the candidate’s economic policy platforms before November 3rd rolls around.

That being said, here are three reasons why CEOs should be invested in the 2020 election:

1. Customer’s buying power is on the ballot

Do you care about sales? You should.

You should also care about the fact that the candidates we elect in 2020 will directly impact consumer’s ability to buy your products. CEOs will benefit from economic policies that raise consumer’s buying power rather than lowering it.

You might be thinking that economic policy always affects CEOs. This isn’t a new concern for you. And while it may not be a new concern, it is an especially urgent one for business leaders in 2020.

September’s jobs report showed a worrisome decline in job growth coupled with expiring fiscal aid that some economists are calling a “toxic cocktail.” With a national unemployment rate nearing 10 percent and 1 in 6 renters behind on payments, consumer’s buying power is one important issue on the ballot this November. Because if consumers have more money, it means they have more money to spend at your business. That’s why it is vital for every CEO to know how each candidate’s policies will affect their current and future customers.

Some key policy questions we need answered from the candidates include: Where do they stand on extending COVID crisis unemployment insurance? Do they support increasing aid to state and local governments that are struggling with multi-million dollar revenue shortfalls? How do they plan to support small businesses affected by the recession? Do they plan to authorize a second round of stimulus checks that will increase consumer’s buying power? Do they support raising the federal minimum wage?

2. Workplace safety is on the ballot

Work has changed.

The future of work is no longer in the future, and the candidates you vote for have the power to make operating your business easier or harder.

There is mounting pressure on today’s CEOs to make a plan that will allow their team to safely return to work, but the burden doesn’t fall entirely on business leaders. Our elected officials are also making plans to help Americans return to work safely, and CEOs need to be educated about what those plans are.

What are the candidate’s stances on liability protections for businesses? If businesses are providing a safe and healthy workplace for their employees, can they still be sued if one of their workers contracts COVID? What are the candidate’s stances on paid sick leave? What support is available for businesses who need funding to put PPE protections in place so staff can safely return to work?

These are all key policy considerations CEOs need to be well versed on before voting.

3. Labor laws are on the ballot

Are you a CEO who hires people and thinks that job training is outdated? Do you invest in job training and want a workforce that’s able to reskill quickly? Wouldn’t you like an employee to show up on day one and be ready to work?

Every CEO knows that employee labor laws are outdated. The question then becomes: What are the candidate’s plans to bring 20th century labor laws into the 21st century? More specifically, who is taking on outdated employee labor laws that claim to protect workers, but are too often holding back progress? Which candidates are investing our corporate taxes into workplace infrastructure? Which candidates have a plan to close the digital divide?

Candidates up and down the ballot have taken stances on the 180+ labor laws currently governing our workplaces — laws that cover everything from employment contracts to worker wages to workplace diversity and discrimination protections. In fact, President Trump recently issued an executive order that stunts workplace progress on D&I training by severely restricting the way certain employers are able to train on important topics concerning equity, inclusion, diversity, and sexual harassment.

This all goes to say that labor laws affect every CEO in America, so familiarizing yourself with the candidate’s stances on them is vital for your ability to successfully run your businesses, support your employees, and maintain and attract new customers.

These are just three of the many reasons CEOs should care about this election.

At 1Huddle, we believe all business leaders should work to strengthen American democracy, which is why we joined the electionday.org campaign. We believe that companies should support every employee’s right to cast their ballot safely and successfully, and we are proud to join the growing list of business leaders committing to voter-friendly policies. We urge other CEOs and leaders in our community to do the same!

Stay tuned for 1Huddle’s election day plan…coming soon. In the meantime, you can
learn more about 1Huddle’s plan for our workforce by checking out our RAISE Every Worker Policy Plan.