Cummins Inc. has issued its new 2023 Human Capital Management Report, which details the company’s approach to talent management and the essential role workers play in the overall performance and sustainability of the global power technology leader.
According to President and CEO Jennifer Rumsey, Cummins is an exciting place to work since the firm wants to be a leader in climate change.
“As an industry leader, Cummins has an incredible responsibility and opportunity to be part of the solution to addressing climate change,” Rumsey wrote in the report’s introduction letter. “Our business and environmental strategies are aligned to capitalize on the decarbonization growth opportunity for both our company and Cummins’ stakeholders.”
The 2023 report offers the most recent information on the company’s efforts to promote diversity, equity, and inclusion, which is one of five corporate values and a major pillar in Cummins’ human capital management strategy.
Among the highlights are:
In the fiscal year ending December 31, 2022, women made up 40.7% of the company’s Vice Presidents and officers.
Women presently make up 46.7% of the Cummins Leadership Team, the CEO’s senior committee.
Women lead three of the company’s five business segments.
Cummins appointed its first female Chief Executive Officer in 2022.
In 2022, 25% of the company’s Vice Presidents and executives in the United States were Black or Latino.
Cummins is a firm believer in the benefits of diversity, equity, and inclusion in the workplace. Employee groups with diverse backgrounds, perspectives, and skill sets are more likely to find innovative solutions to consumers’ most complex problems. It also makes the workplace more fascinating, which helps with recruiting and retention.
Cummins’ human capital management plan, as outlined in the company’s second Human Capital Management Report, also includes the following essential pillars:
Creating self-aware, effective leaders who motivate employees to achieve their greatest potential.
Extending personnel procedures to all levels and job types, so that every employee has access to the training and development that a global organization like Cummins can provide.
Employees are encouraged to participate in all elements of wellbeing, including financial, physical, and mental health, through competitive remuneration and benefits.