We see diversity as a source of strength. Therefore, we have made it a priority to foster a culture where the best people want to work, where people are promoted on their merits, where we value and demand respect for others and where opportunities to develop are widely available to all - regardless of differences.
Our strategy focuses on four commitments:
At Citi, we recognize diversity as one of our competitive advantages. In a global marketplace, it is imperative that an organization provide a wide range of ideas and solutions to its clients. A diverse workforce understands clients better and is more creative and innovative on their behalf. In turn, this can mean greater market share and greater returns for our shareholders. To seize this competitive advantage we must foster a workforce with different backgrounds, perspectives and ideas, and provide employees with a wide range of experiences and skills to develop to their full potential.
Citi serves clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels and our employee population be similar in composition to that in our local operating communities. Our strategy is designed around four pillars:
Our Diversity Operating Council, composed of senior diversity and human resources leaders from core businesses and regions, provides support and accountability. The Council
Our senior business managers develop diversity plans and are held accountable for progress against those plans. Annually we report progress against our goals to the full Board of Directors.
We recruit entry level employees from diverse backgrounds and strive to present a diverse pool of highly qualified candidates for management and professional opportunities. We build relationships with partners who can help us identify and recruit top talent. These partners include non-profit organizations and the career placement offices at select graduate and undergraduate schools. We also attend various conferences and recruiting fairs sponsored by associations representing diverse populations.
Our Code of Conduct prohibits discrimination and harassment. To foster a culture of acceptance and respect throughout Citi, we offer training to employees on topics such as "Championing Diversity," "Valuing Diversity and Inclusion at Citi" and "Leadership Through the Lens of Diversity."
We encourage employees to become involved as mentors and senior managers are encouraged to mentor employees and to seek out women and minority mentees.
Citi strives to deliver products and services to our customers that reflect both our global reach and our very market where we operate. The diversity of our employees enables us to better understand our customers, while the breadth of our product offerings allows us to serve them better.
Citi works to create mutually beneficial business relationships with minority-, women- and locally-owned businesses. We recognize that working with a wide range of professionals, suppliers and consultants strengthens the communities we serve and creates value for our shareholders.
Citi believes it has a responsibility to make a difference in the neighborhoods in which we work and live around the world. We reach out to and form partnerships with nonprofit organizations, civic groups, educational institutions and local governments representing the diverse nature of these communities; and we strive to make each community a better place because we are there.
Citi Employee Networks is a global program composed of networks that are employee-initiated and led groups organized based on affinity group. The Employee Networks exist to further the diversity and business objectives of our company. A key tenetconsistent with Citi's Diversity Strategyis that they are inclusive of others and are therefore open to all Citi employees. These groups offer opportunities for professional development, mentoring, networking and community involvement. Additionally, each affinity group is focused on a diverse community on which each country focuses in its diversity strategy, not exclusively for those who identify as members of the particular diverse community.
All employee networks align to one of the following diversity strands:
As of July 2014, there were more than 100 employee networks in a total of 18 countries with 15,000 members. Our most recent growth has been in Bahrain, Honduras, Hong Kong and India. An additional 20 networks are in development.
Women make up more than half of our workforce. Attracting, developing, advancing and retaining female talent at all levels within Citi is very important to us. Citi Women is a company-wide effort designed to achieve these objectives. It offers two core programs, Women Leading Citi and the Women's Leadership Development Program, along with other work focused around advancing women across our businesses, fostering a global network, and engaging clients in the effort. Two senior executives, supported by an advisory team and a global network of women's organizations, lead the effort.
Women Leading Citi
This 18-month sponsorship program, launched in 2009, is designed to foster the mobility of our high performing senior women. Managing Director- and Director-level women expressing an interest in advancing their careers through mobility are nominated by their business leadership. Participants gain opportunities to network and to broaden their leadership skills with a four-person support team-their manager, human resources partner, a talent professional and a senior advocate who serves as their sponsor. Participants receive in-depth assessments, personal coaching, and attend leadership workshops and webinars led by global industry experts. Fifty-nine women took part in the initial program, of whom 70% experienced career advancement over the 18 months. The program was re-launched in April 2012 with 54 women, of whom 36% had experienced career mobility through year-end 2012.
Women's Leadership Development
Citi's suite of leadership programs to support advancement to senior management includes a global leadership program for our high performing female Directors. The program, offered in conjunction with the UCLA Anderson School of Management, combines lectures, discussions, small-group work and personal assignments to help our talented female employees better manage their career development and mobility. Participants learn how to demonstrate executive readiness, become champions and role models for the organization, and grow their professional networks. The program, launched in April 2008, and as of April 2013 has been delivered 13 times to a total of 445 women.
We continually seek to ensure our diversity efforts are aligned with best practices. One important vehicle for achieving this objective has been our partnerships with organizations that promote thought leadership on diversity. Through these partnerships we strengthen the impact of our strategy, programs and performance. Together, we promote diversity-as a key business imperative-across industries.