At a dinner hosted by the Aspen Institute Business & Society Program I attended recently, business leaders across the political spectrum had full consensus on one thing: the need to ensure a free, fair election and a smooth transfer of power. As Election Day grows nearer, uncertainty feels unprecedented, and most Americans believe post-election day violence will ensue. As business leaders, we carry a level of responsibility in addressing and reducing this potential violence and ensuring a safe transfer of power. Here’s why and how.
Business leaders hold an influential lever that can be pulled to uphold equity and protect our democratic rights, in part because CEOs and businesses are seen as more competent and ethical than governments. Having said that, it is important to note that not all leaders act in accordance with their values, and that contributes to eroding trust.
I believe fulfilling this position of conferred trust means advocating for and protecting workers, as failure to do so renders us complicit in upholding the inequities they face. In caring for stakeholders, we define the impact our businesses have within the communities we serve. CEOs have the responsibility to take a stand on critical issues and use their influence for collective benefit. Right now, most urgently, we must mitigate election interference and challenges to our democracy.
Democracy is pro-business
Businesses benefit from a resilient constitutional democracy because this form of governance provides the economic and legal assurances necessary for the long-term market stability and investment that the public and private sectors rely on. Weber Shandwick Collective’s recent survey on political violence and election interference indicates that despite political neutrality by businesses, most Americans want business leaders to speak out in the event of election interference and political violence, regardless of political affiliation.
How can American business leaders keep the election fair and peaceful? First, use influence to stop, discourage and condemn election interference – an approach over 68% of Americans agree with.
For many years, investors have raised concerns about how corporate political spending strains our democratic institutions, potentially leading to policies prioritizing short-term corporate interests over the public good. Only 5 to 6% of CEOs meet with politicians in Washington, and those who do usually only advocate for their own initiatives.
The one-million-dollar giveaways up until election day promoted by America PAC town halls, having been flagged by law enforcement as illegal lotteries unlawfully influencing elections, are prominent contemporary examples of such concerns. This is because America PAC, which has already committed more than $70 million into helping Republicans win the election, only provides petitioners who fear gun rights being taken away by Democrats, and who subscribe to Elon Musk’s idea of free speech, the opportunity to win the prizes.
Additionally, the political conspiracies discussed during the same town halls that demonize state officials, particularly those responsible for counting ballots, increasingly put our public servants in danger. The 2024 Brennan Center for Justice survey found that 40 percent of respondents had enhanced physical security of election offices or polling places since 2020. Installing shatterproof glass and panic buttons, employing armed security, wearing bulletproof vests and running disaster drills have all become commonplace to protect the thorough and complete counting of all ballots.
Peaceful transfer
B Lab U.S. & Canada is amongst businesses that have signed the Interfaith Center on Corporate Responsibility’s letter to members of the Business Roundtable promising to use our influence to support our democratic institutions and uphold voting rights and free, fair and peaceful elections. We commit to communicating the importance of voting, sharing voter education resources and facilitating employee voting through paid time off on election day.
American business leaders can also facilitate a peaceful transfer of power by calling for a concession if a candidate who has factually lost a race refuses to concede – another approach more than 60% of Americans agree with.
With increasing election-related conspiracy theories related to voter fraud, animosity toward political opponents, and calls to question election results, violence is one threat many of us are concerned about following this election. It is imperative that the losing presidential candidate concede swiftly after vote tallies have been confirmed without contest.
Accepting the outcome of just election results, no matter how painful, is at the heart of democracy. A refusal to accept defeat fundamentally rejects the will of the American people. Business leaders must lead by example and personally accept the election result themselves.
Understanding that the election outcome may lead to feelings of anxiety for some individuals, we at B Lab U.S. & Canada have encouraged employees to take time off post-election day or access wellness services. We’ve also set aside time for post-election reflection, allowing employees to express their feelings and experiences about the election. I urge business leaders to actively debunk conspiracy theories inside and outside of the office, and hold space for healthy discourse amongst employees, especially during these uncertain and anxious times.
Together, our business communities can protect our democracy, no matter the election results.
Jorge Fontanez is CEO of B Lab U.S. and Canada
