On November 3rd 2020, the United States Presidential election commenced, with the unofficial results coming out a few days later. Whether you are celebrating or condemning the Presidential electoral results, we all have to brace ourselves for the impact the American elections will have on employment in the United States. With Biden likely to remain on top, what does that mean for recruitment in the US and the rest of the world? How will it impact employment? We’ve given it some careful thought and we wanted to share that with you!
1) Impact on unemployment benefit
In August, the previous administration extended the federal unemployment benefit given to the unemployed or struggling employees in the U.S. They reduced the unemployment benefit from $600 a week for up to 26 weeks to $400 a week. The unemployment benefit came from both the federal government and the state government.
While the administration might have seen this as a good idea, the truth of the matter is that not all states can afford to take up the extra cost. Their budget simply wouldn’t fit.
However, with a new administration, there is talk of implementing short-term compensation in place of employment insurance. This compensation will give companies in distress the ability to retain their employees for reduced hours while the government makes up the pay difference.
This means that with Joe Biden, if you are working for a company in distress, they will be able to retain you, and the government will make up for the benefits that your company cannot. Ultimately, it’s a good reason to vote for the democratic party!
2) Projection for the job market
Another way the electoral results will impact employment in the U.S is the job market, and we have some projections for you to consider.
There was a record job gain of about 4.8 million in the previous administration in May and June. However, there was also a claim of 48 million jobless United States citizens. Not to mention the 2.9 million job losses recorded.
In a bid to increase the employment rate, the Trump administration tried to reduce the requirement for certain jobs. They even asked the federal government to hire based on skills as opposed to a degree. If the federal government had successfully carried this out, they would have given more people who perhaps had the aptitude for a job but not the degree to match a higher chance to qualify.
However, with the Biden administration, the projected job creation project is spread over a four-year plan. The plan is to create jobs around green energy, automobiles, climate change, and infrastructure. There is also a job projection for union jobs that pay 15 dollars an hour. Jobs like building roads, bridges, broadband systems, and even trains.
While the two administrations are very different in their approach to job creation, it is clear that they will both have a significant impact on the career plans of people. They will also affect retirement plans, taxes and job sector growth over the next few years.
3) Employee policy influence
Policies change with a change in political administration. This is why businesses are very conscious of any change in administration. For example, tighter regulations mean that the company’s compliance burdens increase for employers. They will have to perform in-depth reviews and upgrades on their policies and processes if necessary.
A change influences policies that regulate overtime pay, salary history ban, or even paid time off in leadership.
If policies are more employer-friendly, it makes their hiring process more comfortable, therefore increasing the jobs in the job market.
4) Healthcare legislation
Another way the election can influence employment in the U.S market is through healthcare legislation. Healthcare legislation like the affordable care act and others are supposed to strengthen work in favor of human rights.
However, the election outcome can either allow for new legislation or tighten the already existing legislation. Invariably, this will mean that there will be compliance pressure on employers to act accordingly. Thus reducing the amount of job offers out there.
Another way the job market will benefit from healthcare legislation is from the employment of new healthcare workers to take on the industry’s demand.
A great demand for healthcare workers to meet the demand for health workers caused by new legislation could mean that hiring prohibitions could be lifted. For example, right now, healthcare organizations can’t employ certain people with healthcare sanctions or exclusions. But with a higher demand for work, this could change.
5) Improved candidate’s experience
Finally, the United States election can influence a candidate’s experience. This is because companies are trying to attract the best candidates to their company to ensure that the candidate’s experience is on par with the standard that candidates expect.
So, it doesn’t matter if you are trying to employ professional writers from writing service reviews websites like Best Writers Online, the candidate experience is projected to improve significantly.
Your candidate experience can start from your initial point of contact with your candidate all through to your eventual hire.
Some ways employees can deliver a better candidate experience include;
Using a candidate survey to collate feedback on the hiring process, they expect and insights into their hiring process. This information can help companies come up with strategies that work.
Reviewing the company’s current screening process to pinpoint opportunities that can identify opportunities to help the company reduce turnaround time.
Automation that can help companies eliminate paper-based hiring process.
If you want to know how the elections will affect the U.S, this article will give you more insight into your direction.
The new political administration can either instill fear in its businesses and cause them to halt employment or instill confidence and cause them to increase the effort put into their hiring process.
We would like to thank Lucy Hatcher for this contribution. Lucy has an analytical mindset, which helps her to be competitive in this business. She is an experienced writer with an excellent portfolio. Her work is always admitted by employers as best and efficient. Lucy highly prices professional ethics and got a very serious attitude to her job.
Author: Ali Neill
As the job board tester and blog editor for the Jobboard Finder, Ali works on job boards from all around the world and keeps a close eye on the recruitment trends thanks to a number of sources, including the website’s social media pages.
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