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Citizens is committed to building a diverse, inclusive, and high-performing culture where everyone feels valued, respected, and heard. Part of this commitment includes ensuring our compensation and benefits are fair and competitive for all colleagues. We continuously evaluate our practices and are committed to identifying opportunities to help ensure all colleagues have equal opportunity to maximize their potential.
We take the following steps to ensure that equal pay is received for equal work throughout our organization:
Compensation decisions are based on a “pay-for-performance” philosophy. This means annual compensation decisions are based on a blend of individual performance, business unit performance, and Citizens’ overall performance.
Managers receive annual training that includes tools and resources to help them make appropriate compensation decisions. Colleagues receive information explaining our compensation philosophy and practices.
Colleagues are assessed during an annual review process which considers performance across a number of dimensions including customer, risk and control, financial, and people. Manager assessments, including rating and compensation recommendations, are reviewed to ensure they are fair and equitable.
We regularly review pay decisions to ensure all colleagues are compensated equitably, regardless of gender or race. This review considers factors such as performance, time in role, education, and more. In the rare case that job-related factors do not explain a disparity, a pay adjustment is made.
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