Citibank Singapore extends paternity leave to 4 weeks
In its commitment to promote gender equality and to transform the perception that caregiving is only a female responsibility, Citibank Singapore has extended its paternity leave from two to four weeks.
That is double the initial two weeks that is mandated by the government while maternity leave remains unchanged at 16 weeks.
The move is part of a review of its parental leave policies across the bank’s global operations. And the bank will be raising leave provisions – paternity, maternity or both – in 74 markets this year, it announced in a press release on March 11.
Citibank Singapore’s Head of Human Resources Jorge Osorio said, “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,” he added.
The bank, who received 142 staff paternity leave applications last year, said the initiative is part of building an inclusive workplace, and comes after its recent commitment to increase global representation of women in assistant vice-president to managing director level roles to at least 40% by 2021 to address its unadjusted pay gap, or the gender gap in median total compensation without adjusting for factors such as job function, level and geography.
Last year, Citibank increased the pay of its female employees who earned less than their male peers of equal work performance and roles, in its efforts to close the gender pay gap.