The move is part of the bank's initiatives to create an inclusive workplace, and follows moves to increase female representation in senior roles and narrow the wage gap between male and female staff.
Citi Singapore is extending its paid paternity leave from the government-mandated two weeks, to four weeks, under enhanced parental leave policies that are being rolled out globally in 74 markets this year.
This move is in line with Citi’s new global paid parental leave policy to recognize the role that both parents play in raising a child, as well as to build an inclusive workplace, a statement on Wednesday said.
The policy was launched on January 21, but will be backdated to January 1 for the first 18 markets, which includes Singapore. The leave, which applies to staff of all nationalities, must be used within the year of the child's birth. New mothers will continue to receive 16 weeks of paid leave, the bank said.
Level Playing Field
The move «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,» Jorge Osorio, head of human resources, Citi Singapore, said.
In January, the bank said it would work towards increasing global representation of women in Assistant Vice President to Managing Director level roles to a minimum of 40 percent by 2021 to address its unadjusted pay gap. The share of females in such roles in Singapore grew from 32 percent in December 2017, to 36 percent in December 2019.
