From Mexico to India to Taiwan to France, wise business leaders have been watching every 2024 election with a close eye. In an international business climate that is increasingly fraught and fractured, every election bears real implications for how companies should chart their courses into the future.
For most business leaders, however, it’s hard to deny that the upcoming U.S. elections represent a uniquely daunting challenge. The two parties have rarely if ever represented more radically divergent approaches to government, from their stances on geopolitical conflicts and crises to their view on the foundational principles of international business. Plus, beyond all that, no matter who wins, there are sure to be many employees left feeling upset and unheard.
Most leaders want similar things for their employees and culture. They want an environment that is safe, inclusive and respectful. They want people to find the balance between being their true selves and serving the interests of the company. And they want to gird their cultures against disruption. What then can we as leaders do, right now, to get ahead of the tumult that this election season will likely bring?
First of all, we will all need to carefully consider the unique realities of our companies. The details of your employee base, your supply chain and your broader industry all should impact how you plan for what’s to come. However, at the macro level, the smartest formulas for many companies will look similar. They’ll consist of:
- Preparation. If your company has not already begun scenario planning for the different outcomes of the U.S. election, the time to begin is now. You do not want the thick of crisis to be the first time you’re charting your course forward. Beyond scenario planning, investing in mental health resources, training people managers to handle hard conversations and proactively reinforcing your company’s values through exercises and coordinated campaigns can go a long way in protecting the civility of your culture.
- Transparency. In the face of chaos, we can’t please everyone or wait for the crystal-clear answer to emerge. We can, however, authentically show our people what’s behind the curtain. The best leaders, in my view, will do this boldly. They will share as openly as they can about their fears for their culture; about the different potential policy changes they’re keeping an eye on; about the real rationales behind everything they’re doing and not doing. The best leaders will not just run exercises reinforcing the company values; they will pair those with honest, vulnerable conversations about what worries them, and they will in turn listen to employees’ fears and suggestions.
We cannot avoid the chaos that’s coming. The best we can do is guide it — with structure, openness and a commitment to modeling the behaviors we want to see.
As always, we’re here to help.
