TORONTO, May 24, 2013 - Further to President and CEO Gord Nixon's Open Letter to Canadians released on April 11, RBC announced today the completion of its supplier arrangements and policies review with the adoption of a Supplier Code of Conduct. This principles-based Code sets out RBC's expectations of suppliers to ensure their behaviour aligns with RBC standards. It formalizes and standardizes RBC's approach to responsible procurement. As part of the Code, suppliers must, among other things:
RBC will monitor compliance with the Code and ensure contractual commitments are secured through Master Service Agreements. As part of RBC's annual corporate responsibility reporting, RBC will report on compliance with the Code and engage objective parties as part of an independent review.
Offshoring and Temporary Foreign Workers Program
As part of its supplier review, RBC looked at the types of work the bank will and will not outsource to suppliers that execute all or part of the work offshore to ensure suppliers support RBC's focus on creating Canadian jobs and prosperity. Specifically:
For example, RBC's Canadian client call centres are located in Canada, supporting RBC's domestic and U.S. business, and they will remain in Canada despite the trend in many industries to offshore them.
RBC uses the Temporary Foreign Workers Program on a very limited basis for executives and for workers with highly specialized skills and will not use the 'low skills workers' program to fill jobs in Canada.
RBC currently follows many best practices for retention,
retraining and redeployment of employees and the company will
further invest in our capabilities to proactively support
and retrain employees whose roles are impacted due to restructuring,
outsourcing and efficiency initiatives. In addition, a new
youth employment initiative designed to provide young Canadians
with a meaningful first career experience will be announced
in the coming weeks.
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Jason Graham, RBC Media Relations, 416 974-8810, email@example.com