Investors urge more than 200 CEOs to give workers paid time off to vote

Posted by News Room 16 October 2024

Dive Brief:

  • A coalition of investors sent a letter urging the more 200 CEOs who are members of the Business Roundtable to show support for fair elections by promoting voter education and providing workers with paid time off to vote on Election Day, according to a Wednesday press release. The group, the Interfaith Center on Corporate Responsibility, represents more than 300 institutional investors who support environmental, social and governance issues.
  • In the letter, sent Oct. 11, ICCR called on CEOs to issue statements about the importance of voting, thorough ballot counting and condemnation of voter intimidation tactics; and to lobby for states to lower barriers to voting by expanding early voting and the number and hours of polling places. 
  • Business Roundtable CEO Joshua Bolten characterized voting as “a fundamental right of American citizens,” in a statement issued Tuesday. “Our members are committed to helping by providing flexibility for workers to vote and volunteer at polling locations across the country,” Bolten said. “It can take time to finalize election results, and we urge all Americans to respect the processes set out in federal and state laws for electoral determinations and an orderly transition.” ICCR commended Bolten’s statement and encouraged individual Business Roundtable members to issue similar calls.

Dive Insight:

Prior to the 2020 Presidential Election, ICCR also encouraged Business Roundtable companies to use their influence to uphold voting rights, improve public confidence in elections and ensure a peaceful transfer of power.

“With just under one month before another national election, we are renewing this call as we see our democratic institutions once more under threat and believe [Business Roundtable] member companies can and should play a role in mitigating these threats by providing positive leadership wherever they can,” ICCR said in its most recent letter to the group.

Less than half of U.S. states require employers to give workers paid time off to vote, and, in the absence of a federal law requiring voting leave, mandates vary by state, according to research by the National Conference of State Legislatures, which represents legislatures in U.S. states, territories and commonwealths. 

But more than 2,000 companies are now part of Time to Vote, an initiative launched in 2018 by Patagonia and Levi Strauss & Co. in which employers have pledged to give workers time off to vote.