Citigroup is doubling down on its hybrid work coverage by giving most of its 229,000-person workforce a distant summer season perk.
In line with a leaked memo despatched to staff on Monday, obtained by Enterprise Insider, Citigroup is giving its hybrid staff the choice to work remotely for any two weeks of their selecting in August. Most Citigroup employees are hybrid and work within the workplace no less than three days every week, with solely merchants and financial institution department employees anticipated to work in individual 5 days every week.
Citigroup’s Chief Human Sources Officer, Sara Wechter, despatched the memo, which famous that the perk was a part of the financial institution’s dedication to flexibility and its hybrid work coverage.
Associated: Citigroup Mistakenly Credited a Buyer with $81 Trillion As an alternative of $280: ‘Inputting Error’
“Our hybrid work mannequin helps us appeal to and retain high expertise and units us aside from different corporations in our trade — and we stay dedicated to this mannequin,” Wechter wrote.
Wechter added that the financial institution selected August “as a result of it’s historically a quieter time for our companies and purchasers, when many are already out of the workplace resulting from holidays.”
Citigroup CEO Jane Fraser. Picture by John Lamparski/Getty Photographs
Citigroup final gave staff the choice to work remotely for 2 weeks through the summer season in August 2022. The financial institution has additionally provided two weeks of distant work each December since 2022.
Staff should work remotely from a location the place they’ve a authorized proper to work, so this is not a “work from anyplace” association.
Whereas Citigroup reinforces its dedication to hybrid work, different banks are pushing for a return to the workplace. JPMorgan required most of its staff to work totally from the workplace beginning in March, whereas Goldman Sachs has required it since 2021.
Associated: Citigroup Eradicated Extra Jobs This Week. Here is Which Roles Have been Affected.
Citigroup CEO Jane Fraser has lengthy been a proponent of versatile work. She opted to work part-time as a associate at McKinsey after having her first baby, an association she maintained till she departed McKinsey for Citigroup in 2004.
As the primary girl to steer a significant U.S. financial institution, Fraser has led a multi-year effort to remodel Citigroup by updating its expertise and inspiring work-life stability. Since changing into Citigroup CEO in March 2021, Fraser has emphasised that hybrid work was right here to remain on the financial institution.
In March 2021, she created Zoom-Free Fridays on the financial institution in order that staff weren’t required to take video calls on Fridays. She moreover urged staff to take their trip time and maintain work to plain working hours.
In January, Fraser advised administrators on a quarterly name that the financial institution’s hybrid work coverage gave it a bonus in recruiting new expertise and that the coverage would proceed.
Associated: Here is How A lot 8 CEOs Made in 2024, From JPMorgan’s Jamie Dimon to Disney’s Bob Iger
Citigroup is doubling down on its hybrid work coverage by giving most of its 229,000-person workforce a distant summer season perk.
In line with a leaked memo despatched to staff on Monday, obtained by Enterprise Insider, Citigroup is giving its hybrid staff the choice to work remotely for any two weeks of their selecting in August. Most Citigroup employees are hybrid and work within the workplace no less than three days every week, with solely merchants and financial institution department employees anticipated to work in individual 5 days every week.
Citigroup’s Chief Human Sources Officer, Sara Wechter, despatched the memo, which famous that the perk was a part of the financial institution’s dedication to flexibility and its hybrid work coverage.
The remainder of this text is locked.
Be part of Entrepreneur+ at this time for entry.
