Government of Gustavo Petro Urrego

In brief

On 7 August 2022, Gustavo Petro Urrego became the new President of the Republic of Colombia for the period 2022-2026, along with the Vice-President, Francia Márquez. Both are members of the political party Pacto Histórico, which is known for promoting center-left social, political and economic initiatives.

The governance plan of the President evidences that employment, compensation and social security matters will be part of the focal points of his office. Based on this governance plan, and the different public speeches and publications made by both the President and the Vice-President, we anticipate:

1. An increase on some labor costs, which were diminished by Law 50, 1990, related to the percentages applicable to surcharges for overtime work and work performed at night, on Sundays and Holidays. Also, an increase in the amount payable as statutory severance for termination of employment without cause
2. A structural reform to the pension social security subsystem
3. The implementation of public policies aimed to reduce employment informality and to advance employment for young citizens
4. Limitations to staffing and outsourcing schemes and a focus on the correct implementation of supply chains
5. Audit compliance of health and safety regulations by employers
6. Advocate for unionization in different economic sectors, and establish collective negotiations per industry
7. Limitations to implement collective agreements with no unionized employees

The...

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