A multinational investment bank and financial services corporation, Citigroup has expanded its Parental Leave and New Caregiver Leaves for the U.S. and Puerto Rico.
The investment bank will offer 16 weeks of paid leave for both parents, with an extra eight for mothers. Parents can include those who adopted or have had children through surrogacy.
Sara Wechter, Chief Human Resources Officer at Citigroup said on LinkedIn, “At Citi, we are proud to provide benefits that allow our colleagues to focus on family at the most important moments. That’s why I am so pleased to announce that we have increased our parental leave and introduced a new caregiver leave policy in the U.S.”
“Now our colleagues have even more time to be with family when it matters most — whether it’s welcoming a new baby, adopting a child, or caring for a partner or ailing parent,” she added.
She further said, “These changes show our commitment to an inclusive workplace and supporting colleagues and their families through major life stages.”
“Our goal is to introduce similar leave programs across the globe over time. We are so proud of Citi’s commitment to providing all colleagues more time to focus on family at the most important moments.” She added.
Sara Wechter also said, “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 colleagues and champion family life as an integral part of well-being.”
Major Highlights
- All new parents will get 16 weeks of paid leave, ensuring more time to bond with a child and supporting all paths to parenthood.
- Birth parents will receive additional paid recovery time of up to eight weeks.
- All colleagues will be eligible for two weeks of paid leave annually to care for an immediate family member.
Other companies offering parental leave policy
Recently, Colgate-Palmolive (India) Limited, the leader in Oral Care, has announced an industry-leading step to extend its parental leave policy reflecting its commitment to fostering a more inclusive and equitable workplace.
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Under the new policy, supportive caregivers previously entitled to 4 weeks of fully paid leave will now get 12 weeks, setting a new standard in the industry.
Hindustan Unilever Ltd (HUL)Â has also announced the Foster and Kinship Caregiver Leave Policy, offering up to four weeks of leave to employees who opt for pre-adoption foster care or become legal guardians as per their familial requirements.
Under the HUL policy, foster care involves becoming a guardian, not a parent, through the local authority, often preceding adoption in India. Kinship care entails assuming legal guardianship of a close relative’s child.
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