Cummins Releases 2024 Human Capital Management Report

Today, global power technology leader Cummins Inc. (NYSE: CMI) released its 2024 Human Capital Management Report detailing the company’s approach to attracting and developing a talented and diverse workforce that propels the company’s success.

In her opening letter, Chair and CEO, Jennifer Rumsey celebrates the pivotal role employees play in positioning the company as an industry leader.

“I’m proud to say our success is driven by our people, and Cummins has a long history of putting people at the center, leveraging the capability of our leaders and the diverse perspectives of our teams to deliver superior solutions to our customers and communities around the world,” said Rumsey. “I am incredibly proud of what our employees continue to accomplish for our stakeholders and how their contributions position us to guide our industry into the next era of smarter, cleaner power.”

Inclusion Remains Priority At Cummins  

In 2023, Cummins announced a new worldwide aspirational goal of 7% for people with disabilities and a regional-specific aspirational goal of 5% representation for veterans. Cummins’ worldwide gender aspirational goal is 50%. In the U.S., the company is striving for 12% and 18% Black and Latino representation, respectively.

“We remain committed to tracking our aspirational representation goals along various dimensions of diversity. These goals hold us accountable for building a workforce that closely resembles the world around us and serves as a strategic competitive differentiator for us as a company,” said Marvin Boakye, Vice President – Chief Human Resources Officer, in a separate essay in the report.

Four of the company’s five business segments are presently led by women. In 2023, Cummins also appointed its first female Board Chair.

Advancing Equity   

As the company continues 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, 2023, and 30.2% of the company’s U.S.-based Vice Presidents and above were Black or Latino.

The company also reports that Cummins Advocating for Racial Equity (CARE) has expanded with the launch of CARE Latino, which will initially focus on predominantly Latino communities where the company operates — Dallas and El Paso, Texas; Nashville, Tennessee; and central Indiana.

The 2024 Human Capital Management Report also includes, but is not limited to, content on:

• Developing authentic and capable leaders who inspire employees to reach their full potential.

• Providing opportunities for employee training and development.

• Promoting all aspects of employee wellness – financial, physical and mental.

“Cummins stands out as an employer of choice due to our focused commitment to offering development opportunities that align with our core values and empower every team member to thrive both personally and professionally,” added Boakye. “We have set an ambitious goal with Destination Zero, and I know we have the best people for the job.”