2024 election results to encourage remote work – here’s how

With less than two weeks to go before Election Day 2024, the impact of the election and its potential outcomes are raising concerns among thoughtful business leaders and a hot topic in many workplaces.

A recent report from GP (Globalization Partners) mentioned the “election effect” in their study. Their study found that the election results will dramatically impact the business strategy of 57% of global executives in the coming year. Of the 1,600 business leaders surveyed by GP, about nine in 10 “expect the 2024 election to have an unprecedented impact on the global economy,” the report said.

This is not just limited to global business leaders based in the US. The survey covered executives in the UK, Australia and Germany and found that the US election is most important to them and could influence their decision to operate in certain markets.

Forbes40% of Generation Z and Millennials could drop out due to the US elections in 2024From Rachel Wells

In addition, the US elections are also influencing employers’ decisions to remotely hire employees from multiple countries outside the US.

According to Jae Gardner, director of operations at recruiting platform Redrob, global and remote recruiting is expected for business expansion, regardless of which candidate wins.

“We will soon see more companies embrace the global hiring pool as an ideal solution to meet their needs,” he explains. “There is always unrest during election season as companies aim to keep costs down and potential candidates are less inclined to leave their jobs because of the uncertainty of a new role. A win-win for those who need to hire is to turn to the talent they have.” “They exist outside the US, they’re cheaper, less affected by the current US election scare and maybe even better suited to the role,” said Gardner, before predicting: “A virtual and there is a global arms race for talent.”

Raw research data from Redrob found that more than a third (36 percent) of companies are ready to hire fully remote employees anywhere in the U.S. (26 percent) or abroad (the remaining 10 percent). Hiring intentions for remote jobs appear to be higher in the United States, followed by APAC, LATAM and EMEA regions.

This “election effect” is most likely the result of concerns about how each election candidate (Vice President Kamala Harris and former President Donald Trump) will handle business-critical issues like regulations and taxes, as well as employers’ willingness to hire the best Talent so that they can be successful in their markets.

What impact will the 2024 election have on job seekers?

Due to the economic and political uncertainty, instability, and crises facing Americans, it is understandable that many are turning to work options such as: B. Traveling and working abroad as a digital nomad, leaving employers, or even seeking work outside the United States. This was confirmed by a very revealing New York Times poll of 2,000 Americans, a large percentage of whom confirmed that they would move abroad if their candidate lost the election.

Additionally, Ladders research shows that last quarter (Q3 2024), remote job opportunities made a comeback, reaching more than 10% of high-paying job postings, the same quarter that Vice President Kamala Harris was announced as the Democratic nominee and the race restarted for the presidency. During the same period, opportunities for high-paying hybrid jobs increased by more than 50%. (Ladders defines high-paying jobs as roles that earn $100,000 or more per year.)

This is positive news for most professionals who prefer remote work arrangements and flexibility, as it indicates an increasing willingness among employers to offer remote work options, despite the widely controversial RTO regulations that have caused a stir in recent months.

Whether this remote work trend will continue to grow and be supported by employers remains to be seen after the 2024 election results.