Reshaping the Workforce Under the New US Administration
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Post-Elections 2024: What's Ahead

Reshaping the Workforce Under the New US Administration

06 December 2024 / Essay

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The election of a new president and Congress signals changes in policy direction that could disrupt the workforce and impact labor and skilled talent availability. Though it is highly improbable that every proposed policy change and plan will be initiated or fully implemented, some are likely to be put into action. This essay examines areas where proposed changes might impact the workforce, and what leaders in organizations can do to prepare.

Key Insights

  • The policy agenda described by the incoming administration, if fully implemented, may exacerbate labor and skills shortages, emphasizing the need for CHROs and business leaders to evaluate scenarios and make contingency plans for potential workforce disruptions.
  • Stricter immigration rules could significantly impact industries reliant on immigrant labor, especially undocumented immigrant labor in sectors such as agriculture, construction, hospitality, health care, and technology, and tighter caps on worker and student visas could reduce worker supply across all industries.
  • The new administration’s push for deregulation, particularly in sectors such as energy, banking, and manufacturing, could stimulate increased investment and job creation but might also exacerbate shortages in specialized skill sets in some industries.

The election of a new president and Congress signals changes in policy direction that could disrupt the workforce and impact labor and skilled talent availability. Though it is highly improbable that every proposed policy change and plan will be initiated or fully implemented, some are likely to be put into action. This essay examines areas where proposed changes might impact the workforce, and what leaders in organizations can do to prepare.

Key Insights

  • The policy agenda described by the incoming administration, if fully implemented, may exacerbate labor and skills shortages, emphasizing the need for CHROs and business leaders to evaluate scenarios and make contingency plans for potential workforce disruptions.
  • Stricter immigration rules could significantly impact industries reliant on immigrant labor, especially undocumented immigrant labor in sectors such as agriculture, construction, hospitality, health care, and technology, and tighter caps on worker and student visas could reduce worker supply across all industries.
  • The new administration’s push for deregulation, particularly in sectors such as energy, banking, and manufacturing, could stimulate increased investment and job creation but might also exacerbate shortages in specialized skill sets in some industries.
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Authors

Allan Schweyer

Allan Schweyer Allan Schweyer

Principal Researcher, Human Capital
The Conference Board

Read Bio

Rita Meyerson, EdD

Rita Meyerson, EdD Rita Meyerson, EdD

Principal Researcher, Human Capital
The Conference Board

Read Bio

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