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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) :

Here are some of the reasons why RBC was selected as one of Canada's Top 100 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

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 A

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 A

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 A+

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 B+

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
Eyecare $400 every 2 years
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 B

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
Vacation jump vacation increases after 10 years of employment
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Personal paid days off employees can schedule 1 personal day off each year, as needed
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 A

Employee performance reviews employees receive individual performance reviews every 6 months
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 A

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
Tuition subsidies (related to job) yes
Tuition subsidies (unrelated to job) yes
Subsidies for professional accreditations 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 A+

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.

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