The role for public affairs teams in ‘election year’ 2024

For businesses, elections create new challenges and opportunities as well as uncertainty and risk. They must prepare themselves for evolving policy agendas, political stakeholder churn, and changes in governmental priorities. This requires close monitoring and effective management.

Elections can often lead to sweeping reform agendas and political decisions that fundamentally alter how a sector is regulated. While one government may favour a less constricted business environment, the successor administration may advocate for a more interventionist approach to regulation. Whichever way the outcome goes will ultimately impact on an organisation’s commercial priorities and objectives.

This year, perhaps more than ever, public affairs functions will be vital in helping their organisation to navigate upcoming political and electoral change and mitigate and manage the risk presented by this. There are several ways in which this will manifest itself.

Firstly, in the run-up to an election, public affairs functions can seek to help their organisation influence manifestos and the policies that political parties are proposing. Businesses should be aiming to project themselves as genuine partners by engaging on policies that could impact their business while proposing policies that can benefit the communities they operate in, as well as the wider economy. With public finances as constrained as they are, ensuring any policies are fully costed and deliverable when presented to parties is absolutely critical if organisations have any hope of getting a fair hearing.

Secondly, public affairs functions can support a business in scenario planning to understand what different electoral outcomes may mean for their organisation – a service which will be integral to managing exposure to risk. Polling can be illustrative to an election’s outcome, but businesses should ‘war game’ all potential outcomes and the possible concessions that may be made to enable a party to form a government. Planning for the unexpected and adopting a ‘belts and braces’ approach is advised and will ensure businesses can adequately prepare for the change that is coming.

Thirdly, the publication of manifestos presents a further juncture for public affairs interventions. Comparing the policies proposed by each party and putting them through a political and legal lens will be critical to understanding how businesses may have to adapt but also to assess where any potential opportunities may lie for them to cultivate. Trying to establish if there’s any common ground between parties on certain policies of relevance would also be shrewd given the potential likelihood for parliamentary arithmetic post-election to necessitate closer collaboration between parties.

Finally, in the post-election period, the first 100 days is not only a useful way to evaluate a new administration’s early performance but also to assess whether pre-election rhetoric equates to firm action. Most notably, however, it presents an opportunity for businesses to identify and develop relationships with key political stakeholders. Given the churn following an election, a fresh start enables businesses to gain new parliamentary advocates that would be willing to offer help and support their cause at a time of crisis.

More than anything else, public affairs helps to bring the outside political environment inside an organisation. Companies that have a better understanding of the political environment are more effective in managing change and influencing decision makers.

Pinsent Masons has a specialist consultancy public policy and strategic communications function which supports clients in understanding the political environment, engaging with key stakeholders, and managing their reputation.