Citigroup conducted the survey as part of its efforts to increase the number of women in its executive positions as it looks to shrink the gender pay gap. When the bank reviewed the responses, it found that top female employees were leaving because of the company's overall or leadership, or something about the company itself. For men, the reason was more personal as they had issues with their managers.
“Understanding this disparity is an opportunity for further exploration, and it highlights areas where we can focus,” Sara Wechter, the bank’s global head of human resources, noted in Citi’s environmental, social and governance report.
The employee survey can help Citibank forecast attrition rates for up to three years, Wechter said. Women managing directors and directors make up about 26% of Citigroup’s executive ranks globally.