What a decade it’s been for pay in politics! Under President Obama’s administration, we saw changes to EEO reporting, contractor rules, minimum wage, FLSA, and equal pay laws. While the Executive branch of the US Government doesn’t drive everything to do with compliance, they do significantly impact which laws are likely to pass swiftly if at all.
There are a million factors to consider when deciding who to vote for, most of which are deeply personal. Today we’re going to cover the professional standpoint that will impact you as a Comp or HR professional. PayScale has taken the liberty of evaluating both candidate platforms to identify the impact each candidate is likely to have on compensation at your organization. What follows is a breakdown of stances on the issues made by presidential candidate Hillary Clinton and presidential candidate Donald Trump. If you like the Cliff’s Notes version, here is a high level summary: Clinton’s platform supports workers’ rights and small business; Trump’s platform supports deregulation, changing trade agreements, and cutting taxes.
PayScale has taken the 'liberty' of comparing comp implications of both candidates' platforms!
|Minimum Wage||Wants to make the minimum wage a living wage||Does not support increasing minimum wage (suggests tax breaks)|
|FLSA||Likely to uphold changes||Likely to reverse changes|
|Pay Equity Laws||In support of Pay Equity Laws||Does not support policy action|
|Health Insurance||Backs affordable health care||Repeal and replace “Obamacare” with Health Savings Accounts (HSAs)|
|Paid Family and Medical Leave||Supports guaranteed paid family leave||Does not support policy action|
|Business to watch for||
Stay tuned for more information the rest of this week as we share a deeper dive into the new President’s platforms on the issues. Later in the week we also plan to visit some of the key comp-related decisions being made at the state and local level around the country.
What comp-related things are on your local ballot? Comment below.