The Group has made salary adjustments to ensure women doing the same work as their male counterparts get the same remuneration.
Citigroup Inc., Singapore, has adjusted the pay of the women in its workforce, who used to earn less than their male counterparts, even though they did the same work. The move shows how committed the Group is towards closing the gender pay gap.
As part of a review of remunerations, globally, after assessing the salaries over a period of over a year, the Citigroup managed to identify where it needs to make base salary adjustments to close the gender pay gap. It has also put in extra efforts to promote women more quickly.
The Company had discovered that the women in its workforce were getting paid 29 per cent less than the men, on an average.
Among other initiatives by the Citigroup, women from various Asian universities form a majority of its regular/full-time employees. The Bank has also introduced an initiative to help women, who had taken a break due to the demands of motherhood, return to their jobs.
As per a report by the Ministry of Manpower and the National University of Singapore, the gender pay gap in the country was about six per cent in 2018, after adjustments in terms of age and level of education.
The gender pay gap in the US is about eight per cent, while it is 7.7 to 8.3 per cent in Canada. China has the highest gender pay gap of about 18.3 per cent.