Sec. 2. Disclosures related to human capital management
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Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following: Each issuer required to file an annual report under subsection
(a)shall disclose in that report information about human capital management policies, practices, and performance with respect to the issuer. Not later than 270 days after the date of enactment of this subsection, the Commission shall issue final rules to carry out paragraph (1), which shall require disclosure of the following with respect to an issuer described in that paragraph: Workforce demographic information, including the number of full-time employees, the number of part-time employees, the number of contingent workers (including temporary and contract workers), and any policies or practices relating to subcontracting, outsourcing, and insourcing. Workforce stability information, including information about the voluntary turnover or retention rate, the involuntary turnover rate, the internal hiring rate, and the internal promotion rate. Workforce composition, including data on diversity (including racial, ethnic, and gender composition) and any policies and audits relating to diversity. Workforce skills and capabilities, including information about training of employees (including the average number of hours of training and spending on training per employee per year), skills gaps, and alignment of skills and capabilities with business strategy. Workforce health and safety, including information about— the frequency, severity, and lost time due to injuries, illness, and fatalities; the total dollar value of assessed fines under the Occupational Safety and Health Act of 1970 ( 29 U.S.C. 651 et seq.); the total number of actions brought under section 13 of the Occupational Safety and Health Act of 1970 ( 29 U.S.C. 662 ) to prevent imminent dangers; and the total number of actions brought against the issuer under section 11(c) of the Occupational Safety and Health Act of 1970 ( 29 U.S.C. 660(c) ). Workforce compensation and incentives, including information about— total workforce compensation, including disaggregated information about compensation for full-time, part-time, and contingent workers; policies and practices about how performance, productivity, and sustainability are considered when setting pay and making promotion decisions; and policies and practices relating to any incentives and bonuses provided to employees below the named executive level and any policies or practices designed to counter any risks created by such incentives and bonuses. Workforce recruiting and needs, including the number of new jobs created, the worker classification of new jobs, and the new hire retention rate. The Commission may exempt emerging growth companies from any disclosure required under subparagraph (D), (E), (F), or
(G)of paragraph (2), if the Commission determines that such an exemption is necessary or appropriate in the public interest or for the protection of investors. .
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