The new Labour government: What to expect for the workplace and workforce
13th August 2024It’s good news for employees, explains Boxless.
The new Labour government’s manifesto outlines a mission-driven approach to governance, clean energy and healthcare improvements. These priorities are expected to impact both the workplace and workforce, with particular focus on the needs and expectations of Millennials and Gen Z workers, as well as the growing importance of social and environmental responsibilities.
Expected key legislative changes and policies
Equal pay and transparency: Currently businesses with 250 or more employees are required to evidence their gender pay gap by law. We expect the new labour government to introduce mandatory reporting on pay disparities based on ethnicity and disability to address systemic inequalities.
Mental health and wellbeing: Promoting mental health and wellbeing is integral to Labour’s vision for an inclusive workplace and was recently acknowledged within the King’s speech. Expect increasing access to mental health resources and support services within the workplace and encouraging employers to implement comprehensive wellbeing programs that address the mental, physical and emotional health of employees.
Workplace flexibility and work-life balance: Recognising the diverse needs of the workforce, Labour is expected to promote policies that support work-life balance and flexibility, such as: Strengthening the right to request flexible working arrangements and ensuring employers have clear guidelines on how to accommodate such requests. And expanding parental leave entitlements and improving access to affordable childcare to support working parents, particularly women, in balancing work and family responsibilities.
Clean energy superpower: Labour aims to make Britain a clean energy superpower by 2030, with a commitment to zero-carbon electricity. This includes investing in renewable energy sources, such as wind and solar power and supporting the development of green technologies. The transition to clean energy is expected to create hundreds of thousands of jobs, reduce energy costs for businesses and households but also start a seismic shift in the responsibilities of business when it comes to the environment.
How can businesses prepare?
There is a heightened expectation for businesses to engage in CSR activities, more often now categorised and benchmarked as ESG (environmental, social and governance). This includes community involvement, ethical business practices and transparent reporting on social and environmental impact.
Environmental sustainability is a critical concern. Companies are expected to adopt sustainable practices such as reducing waste, minimising carbon footprints and engaging in ethical sourcing. Businesses that demonstrate genuine commitment to sustainability are more likely to gain the loyalty of environmentally conscious employees and consumers.
Younger generations demand transparency and accountability from their employers. They expect companies to be open about their business practices, environmental impact and social contributions. This transparency builds trust and fosters a positive company culture.
Companies are encouraged to innovate in their approach to social impact. This includes creating products and services that contribute to societal well-being and addressing systemic issues such as inequality and climate change.
In conclusion, the new Labour government’s policies, combined with the evolving expectations of Millennials and Gen Z, will shape the future of the UK workplace. By embracing fair work practices, prioritising employee wellbeing and committing to social and environmental responsibilities, businesses can align with Labour’s vision and thrive in an increasingly competitive market.