Cummins Releases its Second Human Capital Management Report

The American multinational corporation Cummins Inc. has recently released its new 2023 Human Capital Management Report detailing the company’s approach to talent management and the critical role employees play in the global power technology leader’s overall success and sustainability.

President and CEO Jennifer Rumsey says in the report:

As an industry leader, Cummins has an incredible responsibility and opportunity to be part of the solution to addressing climate change. Our business and environmental strategies are aligned to capture the growth opportunity decarbonization presents for both our company and Cummins’ stakeholders.

The 2023 report includes the latest data on the company’s efforts on diversity, equity, and inclusion, one of five corporate values and a key pillar in Cummins’ human capital management strategy.

INCLUSION EFFORTS PROGRESS

The number of women employed globally at the company, for example, increased from 27.8% in 2021 to 28.3% in 2022 as Cummins continued to make steady progress on efforts to bring more women into the company.

Cummins also reported that 40.7% of the company’s Vice Presidents and above in 2022 were women, and 46.7% of the Cummins Leadership Team, the CEO’s top leadership committee, are currently women. Three of the company’s five business segments are presently also led by women (60%) and in 2022 Cummins appointed its first female Chief Executive Officer.

The 2022 data for the company’s global workforce does not include employees joining Cummins through the acquisition of Meritor Inc. in August of 2022. The company was still entering demographic data for these employees into its information systems in early 2023. The acquisition will be reflected in Cummins’ global workforce reporting next year.

ADDRESSING RACIAL EQUITY

As the company works to address racial equity in the United States, Cummins reported that more than a third of its U.S. workforce was non-white as of Dec. 31, 2022, and 25% of the company’s U.S.-based Vice Presidents and above were Black or Latino.

Cummins strongly believes that diversity, equity, and inclusion create a more dynamic workplace. Teams of employees with different backgrounds, approaches, and skill sets are more likely to arrive at creative solutions to customers' most difficult challenges. It also creates a more interesting place to work, aiding recruitment and retention.