Human Capital

Public consultation period is open – Deadline to submit comments is until February 12, 2021.
Visit the Public Consultation section of this page to view the Preliminary Framework on Human Capital and the SASB Standards. When you are prepared to submit feedback, please follow the relevant stakeholder survey link in the Public Consultation section.

Page Last Updated: December 15, 2020

Project Overview

Project Objective

The purpose of this project is to assess the scope and prevalence of various human capital management themes across SASB’s sectors and within its 77 industries to develop a solid evidenced-based view on this cross-cutting theme. A major component of this project’s objective is to design and implement a systematic analysis by the means of a human capital framework to assess the materiality of these various issues; determine which issues are cross-cutting and which are industry-specific; identifying key general issue categories; and forming recommendations related to advancing this project from the research phase to a standard-setting phase.

Project Background

While human capital is well-represented throughout SASB’s 77 industries, emerging and evolving issues on the theme of human capital have encouraged SASB to escalate research and market engagement focused on the issue. Currently, SASB standards address three relevant, financially-material issues related to human capital management (in industries where sufficient evidence of financial impact and investor interest has been demonstrated): employee health and safety; employee diversity, inclusion, and engagement; and labor practices. While these three areas largely cover relevant and financially-material human capital issues across our standards, other human-capital related issues such as labor conditions in the supply chain and human rights are covered in other areas of the SASB standards. Generally-speaking, human capital management issues that manifest in a company’s supply chain can be addressed under the Business Model and Innovation sustainability dimension under the Supply Chain Management general issue category. Human rights issues related to a company’s operations are generally addressed under the Social Capital sustainability dimension under the Human Rights & Community Relations general issue category. However, as firms become increasingly exposed to technological innovation combined with broader macroeconomic trends of shifting demographics and changing societal values toward human capital, the reevaluation of the standards in context of these evolving and emerging trends is increasingly important.

Project Status

Current Status

Ongoing Research

Next Steps

Stakeholder Consultation

Contact Information

Kelli Okuji Wilson
Sector Analyst – Healthcare, SASB
[email protected]

Published Documents & Supplemental Materials

Published Documents

There are no published documents at this time.

Supplemental Materials

SASB Standards Board approves the Human Capital Research Project, October 2019, online blog
SASB Human Capital Project Plan Webinar, March 2020, video
SASB Materiality Assessment and Evidence Sourcing Webinar, March 2020, video
Briefing Document, Understanding How SASB Addresses Human Capital in the Codified Standards, May 2020, PDF
Exploring Diversity & Inclusion in the SASB Standards, September 2020, online blog

Board Materials & Decisions

Board Meeting Outcomes

September 2019

  • Project added to Research Program

Board Materials

September 2019

December 2019

For a full list of past and upcoming Standards Board meetings, as well as associated materials, please visit our Board Meetings Calendar & Archive.

Public Consultation

Human Capital Research Project: Public Consultation

  • Objective: To solicit the public’s views on the industry-agnostic themes outlined in the Revised Preliminary Framework and to develop an evidenced-based and marketed-informed view on how these themes manifest at an industry-specific level.
  • Stakeholder profile: We are seeking feedback from stakeholders – including but not limited to companies, investors, academics, consultants, and other subject matter experts – highly knowledgeable in the impacts of these themes at an industry-specific level related to (a) investors’ views on meaningful points of data to assess these themes and (b) how companies are managing and tracking these issues to enhance corporate strategy and long-term value creation.

Public Consultation Materials

If you are unable to access the survey through the provided link, email [email protected] for a PDF version.

Note: A subject matter expert is any individual or organization that is not representing and/or acting in the capacity of a representative of a corporate sustainability reporter nor representing an investment firm that has fiduciary and management responsibilities over a portfolio(s) of companies. Common examples of subject matter experts include academics, consultants, and civil society organizations.


Upcoming: Informational webinar on the Public Consultation will be available in January 2021.

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Fill out this form for project-specific notifications about calls for public feedback, advancement in project phases, and research questions.

The staff has prepared this summary for informational purposes only. Any Standards Board decisions are tentative and do not change current accounting. Official positions of SASB are determined only after extensive due process and deliberations.