Is Your Business Ready for the 2024 Election?
The 2024 General Election is still months away, but now is the time for your workplace to start planning. To help, IGCI’s partners at the University of Michigan Erb Institute hosted a half-day session on 2024 Election Readiness and Corporate Political Responsibility. Leaders from companies, academic institutions, and civic organizations convened to strategize on how to prepare for the upcoming election and beyond.
Top Three Lessons from Corporate Political Responsibility Conference
Election Risks are Real
It’s easy to view the media’s coverage of potential political threats with the upcoming election as hyperbole. Sensationalized headlines and constant “breaking news” on the potential outcomes of the presidential election can cause the average person to roll their eyes and chalk everything up to an overreaction. However, the numbers don’t lie.
In a recent survey, 23% of Americans said, “patriots may have to resort to violence in order to save our country.” The respondents were from all sides of the political aisle – Republican, Democrat and Independent.
2023 American Values Survey (Public Religion Research Institute and the Brookings Institution)
The diminishing trust of civic institutions, which has seen a steady decline for many years, means this growing threat doesn’t disappear once the elections are over. This assessment is especially true if there are close presidential and congressional results, Election Day violence against voters or poll workers, or any attempts at voter suppression.
Question: The leading legal, communications and HR professionals at the conference agreed the risk of political violence must become a scenario in your crisis preparedness playbook. Is your organization prepared to respond internally and externally?
Political Instability has Significant Implications for Business
Like many employers and organizational leaders, you may be hesitant to get involved in anything “political,” opting to stick to “core business issues.”However, the reality is the current political environment and threats of further instability have a direct impact on many key aspects of business operations.
According to a new map shared by one of our Civic Cabinet members at the Leadership Now Project, elections in the current political environment have a direct impact on business operations.
Understanding U.S. Political Risk: Implications for Business (Leadership Now Project)
Since 2016, we’ve already seen some of these threats play out, causing American democracy to get downgraded from “full” to “flawed.” Unfortunately, these threats won’t disappear once the election is over either. Experts expect the country to remain divided, no matter who wins the presidential and congressional races. This polarization may lead to political violence, akin to what we saw after the 2020 election — a scenario that becomes more likely if election results are close.
Takeaway: Since political stability and economic success are so interconnected, your organization won’t be able to act like everything is “business as usual” if some of these threats become a reality.
Your Workplace Has an Opportunity and Obligation to Act
Your company has an important role to play in not only defending against threats, but also helping find solutions to problems. Here are some ways to start:
Ensure your employees have the information and tools needed to be civically engaged
Assess political risk and create strategies and communication plans for each scenario
Align political activity and spending with pro-democratic principles
The Erb Institute developed four key principles for companies to follow regarding corporate political responsibility. By abiding by these principles, proactively planning, and getting alignment across the organization, you can not only protect your interests, but also contribute to a stable and prosperous future for all stakeholders.
Summary
Our democracy is facing unprecedented challenges that will dramatically impact American institutions. As we get closer to the General Election and escalating societal tension, business leaders have a responsibility to provide moral courage and clarity.
By taking action – internally, behind the scenes, and/or publicly – businesses can incentivize pro-democratic values and discourage anti-democratic behavior. Doing so will foster political stability that is critical both to business and our society.
Take the first step – make sure your workplace is informed and engaged in the upcoming election.
Log in to the IGCI Civic Center to access Civics @ Work toolkits, resources and a community of other leaders engaged in this work.