To recognise the role both parents play in raising a child, and to build an inclusive workplace, Citi Singapore has doubled its paternity leave benefits – from two weeks to four weeks – retroactive to January 2020. New mothers continue to receive 16 weeks of maternity leave.
According to a media statement, the policy, which establishes a minimum standard for paid parental leave across 74 countries, was launched after Citi assessed the leave entitlements of new parents across the markets where it is present.
The policy will be launched in phases, with phase one consisting of 18 markets globally, including Singapore. The roll-out to the other 56 countries will take place throughout this year.
Jorge Osorio, Head of Human Resources, Citi Singapore said: “At Citi, we recognise that becoming a parent is a major milestone in the lives of our employees. Through the increase in paid paternity leave benefits for our employees in Singapore, it enables fathers to be physically present for their new child and mother during a crucial period. It also helps to drive greater gender equality, transform the perception that caregiving is only a female responsibility and create a more level playing field at home and at work.”
Citi recognises that supporting the needs of the firm’s diverse employee base throughout their different life stages is an important part of building an inclusive workplace that provides equal opportunities for all employees to succeed. Hence, it is rolling out these new benefits to build on its family-responsive workplace practices with the aim of providing its employees with a career of a lifetime.
This initiative comes after its recent announcement on Pay Equity whereby Citi announced its commitment to increase global representation of women in Assistant Vice President to Managing Director level roles to at least 40% (at a minimum) by 2021 to address its unadjusted pay gap.
As evidence of its commitment, in Singapore, Citi’s female representation at assistant vice president to managing director level roles has increased from 32% in December 2017 to 36% in December 2019. Citi Singapore is committed to meet its global goal of having women in assistant vice president to managing director level roles to at least 40% by 2021.
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