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Politics is reaching beyond the ballot box and into the workplace, with two-thirds of U.S. hiring managers (66%) saying the current political climate affects their company, according to a recent Express Employment Professionals-Harris Poll survey.
The impact is nearly divided: 36% say it has positively affected their company, while 30% report a negative impact. But as employers look ahead, the bigger question for some is whether to hire now or wait for greater clarity.
Some Companies Are Waiting for Answers Before Hiring
Nearly a third of hiring managers (32%) say planning labor needs amid concerns about a recession or economic downturn and changes in government policies will be among their company’s biggest hiring challenges for the remainder of the year.
Among companies planning to reduce or maintain head count during the second half of the year:
- 28% are waiting to hire until they see the outcomes of changes in government.
- 28% point to concerns about a recession or economic downturn.
- 23% are waiting for the economy to return to normal before hiring.
Job seekers are feeling the effects, too. More than 1 in 4 (28%) say politics has negatively affected their ability to find a new job.
Rising Costs Raise the Stakes
Nearly three-quarters of hiring managers (72%) say rising costs have affected their company’s ability to operate or grow, including 44% who report a negative impact and 28% who report a positive one.
The pressure is also reaching workforce budgets, with wages and compensation (41%), hiring budgets (40%) and benefits and insurance (39%) among the areas most impacted by recent cost increases. For some employers, however, the concern extends well beyond the next hire.
More than a third of hiring managers (35%) say their company won’t be able to survive much longer if wages or costs continue to increase so quickly. That figure is down significantly from 47% in the spring of 2022, but more than 1 in 3 hiring managers still express concern about how long their company can withstand continued increases.
Job seekers aren’t escaping the financial strain, either. Nearly 9 in 10 (89%) say rising costs have affected them, with 63% describing the impact as moderate or substantial.
Discover more research and real-world workforce trends from the America Employed series at ExpressPros.com/Newsroom.
