“Diversity” can and should be a lot more than a buzzword.
Apart from its obvious moral advantage, research shows that diversity actually contributes to superior business outcomes—and the smartest employers know that. The gold standard among these modern workplaces—believe it or not—is Citi, the financial services leader. The company has been recognized 28 times for its excellence in diversity and inclusion—including a 100 percent score from the Human Rights Campaign.
Here are six facts that prove Citi is committed to paying more than just lip service to its diversity and inclusion initiatives.
1. Nearly 100 Countries’ Worth Of Perspective
Tons of companies can boast about their “global” status because of their multitude of office locales. But few can truly say what Citi can: Citi does business in 160 countries and keeps offices in 98 of them around the world—and they employ from all of them. Now that’s a diversity of perspectives.
2. Global Mobility=Global Workforce
Citi does more than just build offices in nearly 100 countries. They hire from them, too.
Citi empowers members of its team to change both their locations and their responsibilities. For example, their Global Engagement Management Associate (GEMA) program allows employees to move abroad and work in two different countries over the course of two years.
As one employee put it, “Regardless of where you start, there are countless examples of people here who start in one function or geography and end up somewhere completely different.”
This policy gives seriously amazing opportunities to people around the world, and it creates the gold standard in team diversity: You are guaranteed to have people with unique backgrounds and experiences. This means you can have people from opposite sides of the planet on the same team.
And that makes for innovation.
3. Equal Pay As A Reality
We’ve all heard the grim statistics about the wage gap that persists across genders and racial groups. According to the Department of Labor, women earn on average only 78 cents on the dollar compared to their male counterparts. That share only goes down when you include race and ethnicity in those calculations.
So, Citi examined their own payment structure and found something entirely different: For women and across ethnicities, the pay difference was only 1 percent. Still, Citi wasn’t satisfied with that figure. They committed to using the next year’s compensation cycle to make the necessary steps to get that 99 percent up to 100 percent.
Most companies won’t even release that kind of information—Citi is actively checking themselves and making plans to get even better.
4. They Actually Accommodate A Diverse Workforce’s Needs
While hiring a diverse talent pool is important, it’s equally important that you do your best to keep those hires happy.
A diverse workforce means having a variety of needs and desires when it comes to how, where, and when work is done. Does your family structure require you to take care of siblings? Does your disability make it difficult to commute five days a week?
Flexible work hours, locations, and methods mean you won’t have to worry about choosing between your identity, your well-being, or your job.
Citi knows it’s about more than adding a holiday or two to the workplace calendar. It’s about giving people the ability to accommodate their own complex lives while still excelling in their roles.
5. Accelerator Programs Bringing Diversity To Leadership
One of the biggest culprits of pay gaps or discriminatory environments is the lack of diversity in leadership roles. After all, it’s hard to overcome the differences in average salaries among SVPs if there are only three female SVPs.
Though Citi is hitting above industry standards in the share of females and people of color in managing director and director-level roles, they have an accelerator program whose goal is to make even more progress.
Citi boasts multiple development programs for women and people of color. Take their Diversity Leadership Program, for example. It provides high-potential candidates in their Institutional Clients Group with access to workshops, individualized coaching, and sponsors to help build their executive presence and strategic skills. They start even sooner with their Early Identification programs. Through Early ID, talented college sophomores from diverse backgrounds learn the skills necessary to prepare for the recruiting process. At the end of the five-week program, students are offered the opportunity to interview for a full-time internship and can have their junior summer internship locked down a year (!) in advance.
What better way to get ahead at a company than to have them actually tell you what they’re looking for in future leaders?
6. Employee Networks Ensure All Groups Are Represented
One of the most important parts of protecting diverse interests is making sure everyone has a voice.
One of the ways Citi accomplishes this is through 150-plus chapters of Employee Networks. More than 16,000 employees across 38 countries make up groups like Women in Finance, Pride, and Black Heritage. These and other groups create another safeguard against intolerance and discrimination and provide employees across all levels of seniority access to their peers.
Something missing from this list? You could change that.
Employee networks (and an HR department dedicated to diversity and inclusion) give people the voice they need to make even more changes for the better.
If you want to start an impactful career in finance at a place where values matter, check out job and internship opportunities at Citi on WayUp right now!