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RBC
RBC employees meeting to discuss RBC's NextGen group, helping younger employees to develop connections and opportunities for growth within the organization

Recognized as one of Canada's Top 100 Employers (2016)

Here are some of the reasons why RBC was selected as one of Canada's Top 100 Employers (2016) and Greater Toronto's Top Employers (2016):

  • RBC manages an in-house wellness program called "Living Well" to encourage employees to adopt healthy lifestyles -- through the program, the bank rewards healthy behaviour with credits for a personal Wellness Account, which can be used for wellness-related expenses such as gym memberships and weight-loss programs
  • As one of the country's most successful financial institutions, RBC offers all employees the attractive benefit of becoming an owner through a share purchase plan -- the bank also offers a variety of additional financial benefits including a defined contribution pension plan, matching RSP contributions, referral bonuses for employees who successfully refer a candidate (to $5,000) and a range of discounted banking services, from fees to mortgage rates
  • RBC supports it new moms with maternity leave top-up payments (to 100% of salary for 6 weeks) as well as offering an academic scholarship program for employees with older kids who are pursuing post-secondary studies, up to $2,500 per child
One of RBC's collaborative meeting spaces
RBC employees engaging in professional development

Employer Background

Industry Banking
Publicly traded yes
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,026
Part-time employees in Canada 6,313
Full-time employees worldwide 69,697
Average age of employees in Canada 42.4
Longest serving employee 64.8 years

Physical Workplace

Commuter amenities car-pool sign-up program, free parking, subsidized parking, secure/sheltered bicycle parking
Workplace features the bank's head offices are located in Royal Bank Plaza, a landmark office tower in the heart of Toronto's Financial District that offers panoramic views of Lake Ontario, the Toronto Islands, and the surrounding city, the bank occupies 10 major properties in the downtown business district including the 42-storey RBC Centre and RBC WaterPark Place, head office features a rooftop garden used for special events, onsite doctor and nurses, onsite fitness facility (shared use with other tenants), nap room, religious observance room, self-serve lunchroom, outdoor barbecue, outdoor patio, discounts at local restaurants
Employee lounge amenities comfortable seating, television
Onsite cafeteria healthy menus, special diet menus
Other nearby amenities fitness club, Harbourfront Park, daycare, restaurants, shopping mall, Eaton Centre, St. Lawrence Market, Sony Centre, Royal Alexandra Theatre, Roy Thomson Hall, Art Gallery of Ontario, David Pecaut Square, the PATH underground walking network, which provides all-weather access to the an incredible selection of restaurants and shops, nearby waterfront cycling and walking trails

Work Atmosphere & Communications

Employee social committee name a number of employee-led social committees active across the bank
Recent social events RBC Day at Canada's Wonderland, Chinese New Year celebrations, unique Cultural Festival hosted for over 1,000 of the bank's technology employees, individual events organized by departments and branches, such as employee appreciation day celebrations, family fun days, picnics, barbecues and holiday parties
Cultural aspects employee sports teams, business casual dress, casual dress Fridays, music while working, concierge services available
Employee communications intranet site, company newsletter, traditional/email suggestion box
Other in-house communications town hall meetings, videos, webcasts, blogs

Financial Benefits & Compensation

Financial benefits note RBC has multiple employee groups, financial benefits may vary by position
Outside salary surveys participates in outside salary surveys every 12 months
Employee salary reviews individual salaries are reviewed every 12 months
Long-term savings defined-contribution (DC) pension, matching RSP
Long-term planning retirement planning assistance, phased-in retirement work options, life & disability insurance
Share purchase plan available to all employees
Year-end bonuses available to all employees
Referral bonuses new employee referral bonuses (up to $5,000) for some positions
Signing bonuses available for some positions
Additional financial benefits defined benefit pension plan for some employees, discounts on RBC banking, investment, and insurance services, reduced mortgage rates, preferred rates on home and auto insurance

Health & Family-Friendly Benefits

Health plan note RBC has multiple employee groups, health plans may vary by position
Health plan premium as part of the health plan, the employer pays up to 71% of the premiums
Flexible coverage health plan is flexible with adjustable premiums and coverage levels
Minimum hours worked for coverage 15 hours per week
Waiting period there is no waiting period for coverage
Retiree coverage with no age limit yes
Dental coverage routine, restorative, orthodontics
Traditional coverage (e.g. prescription drugs) yes
Additional coverage employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, nutrition planning, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. accupuncture, naturopathy), fertility drug treatments (to a lifetime maximum of $6,000), personal wellness account, which allows employees to earn credits through healthy behaviour, and a "Living Well" wellness program that provides employees with opportunities to participate in an annual health risk assessment as well as various campaigns that focus on nutrition, physical activity, mental well-being and financial wellness
Family-friendly benefits note RBC has multiple employee groups, family-friendly policies may vary by position
Maternity top-up (mothers) up to 100% of salary for 6 weeks
Additional family-friendly benefits extended parental leave to unpaid leave, academic scholarships of up to $2,500 per child
Alternative work options flexible work hours, shortened work week (fewer hours with less pay), compressed work week, telecommuting, reduced summer hours
Additional family-friendly information back-up childcare and eldercare services, transitional coaching for female employees returning from maternity/parental leave

Vacation & Personal Time-Off

Vacation note RBC has multiple employee groups, vacation policies may vary by position
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Unpaid leave maximum 12 months
Additional time-off information depending on their position, some employees start with up to 5 weeks of paid vacation

Employee Engagement & Performance

Managers receive performance review training yes
360° feedback option as part of the review process, performance feedback is also solicited from co-workers and other managers familiar with each employee's work
Confidential employee feedback employees can also provide confidential feedback on their manager's performance
Exit interview exit interview option is available for departing employees
Performance recognition individual performance bonuses, on-the-spot rewards, peer-to-peer-recognition awards, long-service awards, tailored and unique rewards (i.e. travel), formal performance recognition program which includes "in-the-moment" appreciation awards and quarterly and annual individual and team awards
In-house survey period in-house surveys are conducted every 12 months
Outside survey period outside consultant surveys are held every 12 months

Training & Skills Development

Career planning in-house career planning services, online employee skills inventory
In-house training initiatives mentoring, in-house training, online training, leadership training, paid internships, subsidies for professional accreditation
Tuition subsidies (related to job) yes
Tuition subsidies (unrelated to job) yes
Unique training & development programs annual Career Month in March, to emphasize the importance of career management, professional development library, which includes virtual and classroom training options, paid internships for students and new grads in a variety of disciplines, including the Career Launch program

Community Involvement

Scope of charitable involvement local, national, international
Employee charitable involvement employees are involved in selection of charities, employees receive paid time off to volunteer
Total employee volunteer hours (on company time) over 45,920 hours last year
Total number of charities supported last year approximately 6,718 charitable and community organizations were supported last year
Some of the community organizations supported RBC Believe in Kids Pledge (a 5-year $100 million commitment to improve the well-being of at least one million kids), Junior Achievement, Aboriginal Stay in School Summer Program, Catalyst, Volunteer Canada, Canada Company (military employment transition program), United Way
Charitable giving matches employee volunteer hours with company donations
Community highlight RBC is one of Canada's largest corporate donors, building upon a tradition of corporate philanthropy that dates back to 1891. The company provides donations to registered charities, community investments, social, environmental and economic sponsorships, support for the volunteer efforts of employees and retirees, and the development of financial products and services that enhance social and environmental benefits in the wider community. RBC employs more than 20 professional grant-making employees who help select the charitable organizations the bank and its employees support.

Recognized as one of Canada's Top Employers for Young People (2016)

Here are some of the reasons why RBC was selected as one of Canada's Top Employers for Young People (2016):

  • Recent university and college graduates can gain career experience through RBC's Career Launch Program, a 1-year paid internship for graduates under the age of 24 -- the program features opportunities for formal learning, mentorship, professional networking and community experience through a work term with a registered Canadian charity
  • RBC created the Next Great Social Innovator Challenge, an annual competition for RBC Career Launch Associates -- participants submit a response to the challenge question, which is based on a specific business need, and finalists are flown to Toronto to present their ideas to a panel of RBC executives -- students have a chance to win up to $20,000 as well as interview with an RBC recruiter
  • RBC maintains a dedicated employee resource group called "NextGen" for employees in their 20s and 30s -- the group has approximately 3,000 members and helps employees build connections across the organization
  • RBC established the Global Emerging Leadership Program, a 2-year cross-enterprise leadership development program for individuals with demonstrated leadership capabilities -- the program features a series of rotations, including the possibility of an international rotation
RBC employee planning for the future with the organization's Career Launch Program
RBC interns from the organization's Career Launch Program

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,026
Student opportunities summer jobs, co-op opportunities, paid internships
Tuition subsidies (related to job) yes
Career development in-house training, online training, in-house career planning services, mentoring, leadership training, online employee skills inventory
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Unique initiatives Aboriginal Stay in School Program for students in grades 9 and 12 , Capital Markets Technology new grad program, finance management development program, Canadian banking rotational program, Commercial Account Manager training program, retail banking business analyst program

Recognized as one of Canada's Best Diversity Employers (2016)

Here are some of the reasons why RBC was selected as one of Canada's Best Diversity Employers (2016):

  • A number of RBC's departments manage dedicated in-house groups for female employees, which organize networking events and guest speakers -- the bank also created "Women in Leadership", an accelerated development program featuring in-person workshops, a focus on individual development, exposure to executives and opportunities for participants to build their networks
  • In partnership with WEConnect, RBC offers Supplier Diversity Mentorship Workshop series, which provides opportunities to network with employees in enterprise services and Canadian banking divisions -- additionally, the bank offers mentoring through the RBC Reciprocal Mentorship Program for diverse suppliers, offered in partnership with Canadian Aboriginal and Minority Supplier Council and WEConnect
  • RBC created the RBC Career Bridge Associate Host Program for SMEs in personal and commercial banking to help SMEs hire internationally-qualified interns -- the program is offered in partnership with Career Bridge
  • RBC recently introduced LGBT Inclusion Webcast Series to introduce LGBT and awareness training, and also introduced new workplace gender transition guidelines for employees who are transitioning their gender
RBC employees engaging in professional development

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,026
Workforce representation female employees (63 %), female managers (52 %), visible minority employees (32 %), visible minority managers (31 %), Aboriginal employees (1.5 %), Aboriginal managers (1.1 %)
Diversity programs for disabilities, women, visible minorities, Aboriginal peoples, LGBT
Employee resource groups online Women@RBC network, Women's Peer Coaching Network, REACH (persons with disabilities), MOSAIC (visible minorities and new Canadians), Royal Eagles (Aboriginals), PRIDE (LGBT)
Formal commitment diversity leadership council, meets on a quarterly basis to discuss current initiatives and produces quarterly diversity scorecards to track workforce metrics such as leadership diversity, hiring and promotion rates, departures, representation and other trends, Diversity and Inclusion Progress Report
Unique diversity initiatives Destination Diversity intranet, Diversity Dialogues (mentoring program, over 2,000 employees have participated), diversity learning guide, Pursue Your Potential (coaching for disabled and Aboriginal job-seekers), Diversity Festival (12th annual, organized by Technology and Operations department and attended by 1,300 employees), remote banking program for Aboriginal peoples who cannot travel easily to urban areas where branches are located
Diversity community partnerships AbilityEdge (paid internships for new grads with disabilities), TRIEC (mentoring for new Canadians), Workplace Essential Skills Partnership (career fair for persons with disabilities), Aboriginal Human Resources Council (recruitment fair), Lime Connect (paid internships for persons with disabilities)

Recognized as one of Canada's Greenest Employers (2016)

Here are some of the reasons why RBC was selected as one of Canada's Greenest Employers (2016):

  • RBC established the "RBC Environmental Blueprint" back in 2007 (its very first environmental policy was developed in 1991) which outlines the bank's four environmental objectives: reducing its environmental footprint; managing environmental and social risk; developing environmental products, services and advice; and promoting environmental sustainability
  • As part of its Environmental Blueprint, RBC is committed to the ongoing development and expansion of waste reduction and recycling initiatives, setting a goal of zero electronic waste to the landfill by 2018 -- the bank also ensures that all major construction and renovation projects set waste diversion plans, maintains organic and recycling programs (has achieved a 71% waste diversion rate) and finds ways to reuse or donate slightly used furniture, with over 1,000 tonnes of furniture diverted from the landfill since 2008
  • Working with other major banks, RBC hosted an e-waste recycling event in Toronto's financial district for employees and members of the public, offering a chance to win prizes and collecting 3,200 kilograms of e-waste for recycling and proper disposal
  • RBC offers financing for individual and commercial solar power generation products, energy saver loans to help customers create energy efficient homes while saving on borrowing costs, and seven socially responsible investment (SRI) mutual fund products, with over $3.8 billion in assets currently
In 2009, the RBC Centre in downtown Toronto was designated the largest LEED for New Construction Project in Canada
RBC employees volunteering in an urban garden in Toronto, Ontario

Highlights

Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,026
Employee green team RBC Global Environmental Committee (est. 2008); RBC Green IT Committee (est. 2009)
Senior executive who oversees initiatives RBC Director, Corporate Sustainability
Formal strategy/policy name RBC Environmental Blueprint (first established in 1991); formal Environmental Management System (designed to the ISO 14000 standard)
Unique green initiatives RBC Generator Fund (a $10 million fund to help finance projects by entrepreneurs and organizations addressing social and environmental challenges), SRI Fund (a $10 million socially responsible investment fund), RBC Green Innovation Challenge (online contest to generate new ideas for greening RBC), the Blue Water Project (a $50 million decade long project to support water stewardship projects in countries where the bank operates), the RBC Greening Your Business Advice Centre (provides free resources and advice to help clients build sustainable business models), and hosts fun events throughout the year (including environmentally-themed Lunch and Learns, weekly organic produce deliveries, monthly car-free days and environmentally-themed photo contests)
In-house waste reduction and recycling In-house waste reduction and recycling includes
Commuter amenities car-pool sign-up program, secure/sheltered bicycle parking
In-house environmental audit yes
External environmental audit yes
Publishes sustainability report yes
Green community initiatives Earth Day, RBC Blue Water Day (over 20,000 employees in 24 countries volunteer to create awareness, clean-up garbage and plant greenery in protection of water resources)
Head office LEED Gold
Other location LEED Gold
Building footprint includes other building accreditation (BOMA etc.)

The Career Directory

RBC has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.

Highlights for New Grads

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,026
Part-time employees in Canada 6,313
Student opportunities paid internships, summer jobs, co-op opportunities
Training subsidies for professional accreditation, orientation program, online training, in-house training, mentoring, in-house career planning services, leadership training
Tuition subsidies (related to job) yes
Starting salary $40K to $45K
Work perks health benefits for new employees, flexible work hours, telecommuting
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Academic fields recruited


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