At Citi, we continually enhance the professional development programs and resources offered globally to support the career progress and work/life balance of our employees. We’re also committed to being a truly diverse company where employees come to work every day at a place that recognizes and celebrates our diverse backgrounds and experiences. To this end, we are setting representation goals around diversity across Citi, and our leaders are being held accountable for continued progress towards these goals.
Economies can also benefit from diversity. Research by Citi Global Perspectives & Solutions (GPS) estimates that reducing gender inequality, for example, could add 6 percent GDP growth to advanced economies over 20 years. At Citi, our employees reflect the remarkable range of cultures and perspectives of our clients across the more than 160 countries and jurisdictions where we do business – a powerful advantage that combines global insights with deep local knowledge and that helps us drive growth and progress. There are certainly areas where we can improve our approach to diversity and we are committed to making specific changes where needed. For example, in January 2018, we announced new efforts to support pay equity. Also, we have set specific goals for representation of women (globally) and black employees (in the U.S.) working at the Vice President level and above.
Achieving our goals on talent and diversity will require active engagement at all levels of the company. We will continue to use data to inform our efforts and engage stakeholders that keep us accountable. At the start of 2018, Citi signed on to the CEO Action for Diversity & Inclusion (CEO Action), joining more than 350 CEOs and presidents committed to driving policy changes and practices in their companies that help increase diversity, including the widespread availability of unconscious bias training, which is now being rolled out to all Citi employees in 2018.
We will also continue working with the UN on initiatives that advance gender equality, including with Citi senior leaders serving on the UN High Level Panel on Women’s Economic Empowerment and the UN Women’s Global Innovation Coalition for Change. In 2018, Citi signed the UN Women’s Empowerment Principles (WEP), which promotes the equal and full inclusion of women in society, the economy and in the workplace.