How Might the General Election 2015 Results Affect Your Company?

by
April 24, 2015

How Might the General Election 2015 Results Affect Your Company?

One of the big things employers are watching out for with the UK General Election 2015, is how the end result might affect their business.

Each party has its own agenda, which it outlines in its manifesto. So for those of you who are wondering what effect the General Election 2015 might have on employment, here are some key points from the 3 main parties fighting for power.

Labour

Labour has two main goals that directly relate to employment:

  1. To raise the minimum wage to more than £8 an hour by 2019
  2. To find an apprenticeship for every school leaver who achieves the relevant grades

This could mean that we see a surge in employment laws and policies that support getting young people onto the job ladder – such as new schemes to encourage businesses to hire apprentices. We might also see a rise in motivation to find work amongst those who do not feel the minimum wage as it stands right now is sufficient – this could give you a more diverse talent pool to choose from when it comes to recruiting new people.

Conservatives

The Conservatives state that they want to provide:

  1. Full employment for all those willing to work
  2. 3 million new apprenticeships.

Again, this means we may see more incentives for businesses to hire more graduates or first-time workers.

As well as this, the Conservatives want to triple the number of start-up loans offered to new businesses, which could lead to some challenging yet healthy competition across our respective industries.

Liberal Democrats

Two key goals that stand out from the Liberal Democrats are:

  1. To expand apprenticeships by developing national vocational colleges
  2. Extend reserved paternity leave from 2 weeks to 6 weeks.

Again, this might mean we see a surge in incentives to hire apprentices. Things may also start to change in terms of parental leave if their plans to extend reserved paternity leave are carried out.

What Changes are You Expecting?

There are more parties in the running for the General Election 2015, and even the parties we discussed have many more items on their agenda.

What excites or worries you the most about potential changes that could affect your company once the General Election 2015 results come through? Let us know in the comments.

 

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