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Our strong culture of employee engagement is essential to
achieving our vision of "always earning the right to
be our clients' first choice." We are connected by shared
values in an environment that enables us to focus on doing
what's best for our clients, where we share our knowledge
and experiences while pursuing rewarding and challenging work
with talented and supportive colleagues. We value diversity
which helps us create solutions that break new ground and
contribute to an inclusive workplace. We provide learning
and development opportunities, benefits that have the flexibility
to meet employees' needs, fair and competitive compensation,
and support for work/life effectiveness.
2010 Performance Highlights
RBC named one of
Canada's Greenest Employers in 2010
| Priorities |
2009 Performance Highlights |
|
|
Enhanced our program that allows employees to purchase
additional vacation time by increasing the maximum time
they can purchase to 20 days |
|
|
Created the RBC Diversity Blueprint™ to set out
our global diversity strategy, priorities and objectives
for 2009 to 2011
Recognized as one of Canada's Best Diversity Employers
and one of the Top Employers for Canadians Over 50
Recognized as one of Human Rights Campaign's "Best
Places to Work" for our U.S. Wealth Management operations |
Provide competitive compensation and
total rewards, and enable growth through training and
development opportunities
See Rewards |
Invested $125 million in formal training and career
development initiatives, including direct and indirect
expenditures (not including on-the-job and web-based training)
Sponsored employee savings and share ownership programs
through which the majority of employees are RBC shareholders
Introduced a new employee discount program for employees
in Canada, with savings offered on merchandise, travel
and services |
|
|
Sustained high employee engagement as indicated in
our 2009 global employee opinion survey
Named one of Canada's Top 100 Employers
Named to Canada's 10 Most Admired Corporate Cultures Hall
of Fame
Named one of the "Best Workplaces in Canada" |
| Vital Statistics |
2009 |
2008 |
2007 |
| Employees |
77,673 |
80,100 |
71,760 |
Employees in full-time equivalent
(FTE) positions
|
71,186 |
73,323 |
64,815 |
| Employees
(Canada) |
54,725 |
56,112 |
54,960 |
| Employees (United States) |
13,093 |
14,082 |
12,181 |
Employees
(Caribbean and
other international regions)
|
9,855 |
9,906 |
4,619 |
Amount invested in formal
training* (including direct and indirect expenditures)($
millions)
|
$125 |
$149 |
$166 |
* This does not include on-the-job and
web-based training.
RBC Employment Worldwide
| |
Number of
employees
|
Full-time
equivalent positions
|
|
Canada*
|
54,725
|
48,793
|
|
United States
|
13,093
|
12,615
|
|
United Kingdom & Channel Islands
|
2,361
|
2,325
|
|
International
|
7,494
|
7,453
|
|
Total
|
77,673
|
71,186
|
Employment in Canada
RBC is one of Canada's largest employers, with more than 54,000
employees. As at October 31, 2009
| Provinces and territories |
Number of
employees
|
Full-time
|
Part-time
|
|
Newfoundland and Labrador
|
300
|
227
|
73
|
|
Prince Edward Island
|
94
|
66
|
28
|
|
Nova Scotia
|
1,251
|
904
|
347
|
|
New Brunswick
|
1,306
|
1,109
|
197
|
| Quebec |
7,267
|
5,500
|
1,767
|
| Ontario |
29,894
|
25,800
|
4,094
|
| Manitoba |
2,160
|
1,542
|
618
|
| Saskatchewan |
1,276
|
804
|
472
|
| Alberta |
4,206
|
3,087
|
749
|
| British Columbia |
6,872
|
4,494
|
1,119
|
| Yukon, Northwest Territories and Nunavut |
99
|
71
|
28
|
| Total |
54,725
|
43,604
|
11,121
|
Issues
- Pension plans: The long-term nature of pension
plans poses several risks to organizations such as asset
return, inflation and longevity risks. At RBC, we are committed
to sponsoring well managed and well funded pension plans.
To achieve this, we have set in place a strong governance
framework, which includes rigorous and regular monitoring
of the pension plans' assets and liabilities, planning a
well diversified and appropriate portfolio of assets, offering
meaningful investment options to plan members, and open
and transparent communication to members to allow them to
make good choices. Our financial strength, combined with
a strong pension governance framework, will allow us to
continue to provide financially sustainable pension plans
to employees.
-
Changing demographics: We continue to recognize
the impact of possible talent shortages in the next decade
and believe that solutions should be multi-faceted, including
expanding the sources of new employees, developing the
capabilities of existing employees, extending the working
life of retirement-eligible employees and sustaining inclusive
work environments that support an increasingly diverse
workforce.
-
Economic downturn: The global economy remains
challenging, and while we have been strong relative to
our peers throughout this downturn, we have a contribution
to make in helping prevent similar events and to create
confidence for the future. RBC continues toevolve and
enhance workplace programs and practices that align with
emerging industry practices and regulations to help ensure
the safety and security of the banking industry.
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