Increased Corporate Transparency in Workforce Management
This new act requires large public companies to disclose detailed information about how they manage their workforce. This aims to help investors and citizens better assess whether companies are investing in their employees' development and well-being, which can impact their long-term success and job stability.
Key points
Companies will need to disclose data on employee numbers (full-time, part-time, contingent), their diversity (race, ethnicity, gender), and changes in employment.
Reporting on training, related expenditures, and whether training leads to promotions or wage increases for employees will be mandatory.
Companies must provide information on workplace health and safety, including injuries, illnesses, health programs, and instances of harassment or discrimination.
Data on compensation, benefits (paid leave, healthcare, retirement), and how companies consider performance and sustainability in pay and promotion decisions will be disclosed.
If the Securities and Exchange Commission does not issue regulations, companies may use international workforce reporting standards.
Expired
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