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Success Stories
Citi Group
About Citi Institutional Clients Group
The Citi franchise in Singapore includes the Global Consumer Bank, the Institutional Clients Group, International Personal Bank, Citi Private Bank, Citi Smith Barney and Citi Alternative Investments. Citi has 200 million customer accounts and a presence in 100 countries. It has been named ‘Best Bank in Asia’ in the past. Citi Work Life Excellence Mission stresses training and professional development opportunities for staff. HR policies are crafted to enable staff to achieve their professional and personal goals.
With its Flexible Work Strategies, Citi experienced 4 percent reduction in staff turnover since 2005. At the same time, revenue increased more than 40 percent with the same staff strength.
Citi was awarded the Work-Life Achiever Award 2008.
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Flexible Medical Benefit Programme. This programme allows employees to choose the coverage that best meets their individual and family needs. Employees can make changes to their scheme on an annual basis as the needs of their family changes.
Chinese New Year shopping vouchers. To celebrate the festival, the bank presents shopping vouchers to all its employees. Citi management believes it is the only bank that has this practice.
Wellness Programme. Health screening, fitness assessments and weight management programmes are just a part of the initiative; a trained nutritionist and fitness instructor assist employees with personalised regimes. Citi also offers evening workshops in yoga, pilates, and dance. Health talks are conducted at lunch time on breast cancer, cardiac care and Food Pyramid. Fresh fruits are given to employees monthly. Besides these, the company also organises large scale events like dragon boat competition, the Citi race and Citi Sports Day.
Family Benefits. 2 lactation rooms have been set up in two buildings and have been used by 20 new mothers to date. The bank made arrangements with 5 childcare centres to provide discounts for staff’s children. Citi supports the Singapore campaign in getting employees to go home on time for Eat with The Family Day. The bank has a designated day for parents to bring their children aged 5 to 14 to the office where the children are treated to a kids’ Christmas party.
For parents with school-going children, Citi arranges for teachers from a renowned school to conduct lunchtime Mathematics classes so that they can coach their children. Besides these, Citi organises Family Day, Party Nights and Bring Your Partner to Dinner where employees are invited to bring their partner for a dinner cum theatre performance. There are also regular talks on parenting and family issues.
Assistance for Expatriates. Citi helps its foreign workers on matters such as Central Provident Fund (CPF) and orientation to Singapore lifestyle.
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| Flexible Work Arrangements – Flexible Work Strategies |
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Citi has a package called Flexible Work Strategies (FWS). FWS includes flexi hours, remote work, permanent part time and compressed work week arrangements as well as job sharing.
60 percent of staff opted for flexi hours. Employees can start work as early as 7.30 am or at 9.30 am. In the category of remote work, or telecommuting, seven of the permanent staff work from home at least one day a week. For example, Citi allowed one employee to watch over her ailing parent-in-law and 3 children; without this flexible arrangement, she might have to resign Citi where she has worked for 17 years. All employees remain contactable via email or phone. Of the seven, two have been promoted for their performance.
One employee has been on permanent part time arrangement for more than two years; Citi managed to retain her with this flexible option. The company also offers compressed work week options which two employees took up but they have resumed regular hours. 99 percent of staff have voted FWS an important tool for employee satisfaction. FWS has also helped retain high performing employees as well as attract new talents.
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For more information on Citi Group, please visit: http://www.citi.com
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