Citibank has been in Ireland since 1965. It was one of the first international banks to set up a branch here. In 1996, Citibank opened the Dublin Service Centre, which now employs almost 1,500 people. 1998 saw Citibank merge with the US insurance and investment banking giant Travellers Group to form Citigroup, whose current portfolio now consists of Citibank, Schroder Salomon Smith Barney and Citilife (Primerica). Citigroup Dublin is presently resident at a brand new 270,000 sq. ft office block in the IFSC, the single largest development in Dublin in recent years. This building is the corporate headquarters for the branch and the DSC. Our group HQ is located in Park Avenue, New York.
The Bank has 4 distinct businesses operating in Ireland, the oldest of which is the Branch, which has operated in Dublin since 1965 and in Cork since 1972. Primarily a corporate bank, the Branch's target market is multinational corporations, public sector utilities and financial institutions. Citigroup's e-business operation is responsible for moving cash around the world on behalf of our corporate clients and financial institutions. Worldwide Securities Services offers institutional investors the full range of global custody, trustee and fund accounting services. Our Consumer Banking division offers customer service, credit analysis and customer relationship management.
Rationale for the introduction of family friendly policies
- Attraction and retention of key talent
- Establish Citigroup as "The Employer of Choice in Dublin"
- Commitment to staff to ensure that the work environment fosters a work-life balance.
- Improves motivation, productivity & morale while reducing absenteeism.
In 1999, at Citibank Dublin's request, WFD, a Boston, MA-based consulting firm, undertook a survey of eight organisations with a large presence in Dublin to discuss work-life efforts regarding dependent care, flexibility, and other recruitment and retention issues. The results produced formalised a drive for Citibank in the implementation of family friendly policies.
Existing family friendly policies
- Flexible working arrangements including part-time, job sharing, compressed working hours and shift work.
- Maternity leave (ensuring no loss of pay), paternity leave, parental leave & leave of absence.
- Onsite medical centre providing extensive information, advice and primary care.
- Employee Assistance Programme providing legal, financial and emotional support & counselling to all Citigroup employees and their families.
- VHI health care & medical benefits to employees and their dependants.
- Annual Family Day as part of the Sports & Social Club's summer events and Kid's Christmas party.
- Study & exam leave with tuition refund for courses.
- Actively working with DDDA and local childcare providers to establish the Citibank Dependent Care initiatives.
- Onsite shop, dry cleaning services, bank machine, restaurant that seats 450 with discounted meals.
Benefits of family friendly policies
- Retention of valued employees.
- Sincere appreciation from employees which enhances employee loyalty and commitment.
- General belief that they are working for a company that cares.
- Affords employees the flexibility to reassess their needs as their lifestyle changes.
Challenges in the future
- Managing employee expectations while balancing the business needs & demands especially with capacity planning and work scheduling.
- Management buy-in as need to assess the benefits Vs costs.
- Equity among employees as some jobs in the banking sphere cannot be
designed around flexible work arrangements such as tele-working.
