Investment bank and financial services firm Citigroup has enhanced its parental leave and introduced a new caregiver leave initiative for its employees based in the US and Puerto Rico.
As of this week, all new parents at Citigroup will receive 16 weeks of paid leave to ensure they have more time to bond with their child and to support all paths to parenthood.
In addition, birth parents will receive additional paid recovery time of up to eight weeks, while all employees will be eligible for two weeks of paid leave each year to care for an immediate family member.
According to the firm, the changes underscore its commitment to creating an inclusive workplace and supporting staff and their families through major life stages. Its goal is to introduce similar leave programmes for its other employees across the globe over time.
Sara Wechter, chief human resources officer for Citigroup US and Puerto Rico, said: “We are so proud of Citi’s commitment to providing all employees more time to focus on family at the most important moments. We are confident that these changes will further foster an environment where each of us can thrive both personally and professionally. We are also thankful to our Families Matter Inclusion Network for all it has done to support our staff and champion family life as an integral part of wellbeing.”
Citigroup’s global employee benefits include physical and mental wellbeing programmes and services, such as access to telehealth options, health advocates and confidential counselling, with coverage varying by country.
It also offers resources and tools to volunteer, private medical, dental and vision insurance, retirement plans, and life, accident, income protection and disability insurance. Meal and housing stipends, education assistance, childcare resources and transportation programmes are available but vary by region and country.
