Workforce Investment Disclosure Act of 2021

Workforce Investment Disclosure Act of 2021

This bill requires publicly traded companies to disclose information annually regarding workforce management policies, practices, and performance. This includes

• demographic information;
• data on temporary and contract workers;
• employee turnover rate;
• employee skills and capabilities;
• workforce health, safety, and well-being, including findings of harassment or discrimination; and
• employee compensation, benefits, and incentives.

The Securities and Exchange Commission may exempt emerging growth companies from certain disclosures.

Bill 117 HR 3471, also known as the Workforce Investment Disclosure Act of 2021, aims to increase transparency and accountability in workforce development programs. The bill requires the Department of Labor to publish information on the outcomes of these programs, such as job placement rates, earnings, and completion rates.

The bill also requires states to report on the effectiveness of their workforce development programs, including information on the types of training provided and the demographics of participants. This information will help policymakers and the public better understand which programs are successful and where improvements can be made.

Additionally, the bill includes provisions to ensure that workforce development programs are accessible to individuals with disabilities and other underserved populations. It also encourages collaboration between workforce development programs and employers to ensure that training programs are aligned with the needs of the labor market. Overall, the Workforce Investment Disclosure Act of 2021 aims to improve the effectiveness of workforce development programs and ensure that taxpayer dollars are being used efficiently to help individuals gain the skills they need to succeed in the workforce.