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RBC Future Launch and Magnet partner to support Canadian businesses in hiring and supporting youth job seekers

Partnership supports youth job seekers with a digital platform and resources to build their careers

TORONTO, September 1, 2020 - RBC Future Launch has partnered with Magnet, a digital social innovation platform at Ryerson University, on a new initiative to support youth job seekers and small businesses across Canada. With a Magnet account through the RBC Youth Employer Portal, employers will have access to RBC resources and support to help grow and manage their business. Magnet’s custom filters allow employers to target job seekers based on skills, work experience, program of study, and diversity employment group.

Employers who hire and train students as part of an approved Work-Integrated Learning program (such as co-op or internship) will have access to Outcome Campus Connect, Canada’s largest online campus recruiting platform (created in partnership with Magnet and Orbis). Outcome Campus Connect sends job posting directly to campus job boards with one click, making it easy and efficient to find and hire student talent. In addition, these employers may also benefit from financial incentives like the Magnet Student Work Placement Program (SWPP). Magnet’s SWPP, funded by the Government of Canada, provides wage subsidies to employers who offer quality student work placements. Program funding reimburses eligible employers up to 75% of wages paid (to a maximum of $7,500) for each placement.

The RBC Youth Employment Portal enables youth job seekers across Canada to create a free Magnet account and get matched to jobs, work placements, and internships with Canadian small and medium-sized businesses, including those available through RBC’s extensive business client network. Magnet also connects job seekers to resources and programs to help plan and further their careers.

This partnership between RBC and Magnet will help deliver up to 10,000 opportunities for youth over the next 3 years.

“This is a challenging time for Canadian youth, and RBC Future Launch is proud to launch the RBC Youth Employment Portal and RBC Youth Employer Portal in order to help young people find meaningful work opportunities,” said Mark Beckles, Senior Director, Youth Strategy & Innovation, RBC. “Together with our partners at Magnet, we’re helping connect youth job seekers with the right employers, taking an important step forward in their careers.”

“Magnet is proud to partner with RBC Future Launch to support employers and students across Canada,” said Mark Patterson, Executive Director of Magnet. “The RBC Youth Employer Portal will help employers connect with student talent quickly and easily access wage subsidy supports provided by the Government of Canada.”

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

About Magnet:
Magnet is a digital social innovation platform, founded at Ryerson University. Through the Magnet Network, our mission is to accelerate inclusive economic growth for all in Canada by advancing careers, businesses and communities.

The Magnet Network includes all relevant stakeholders involved in fostering economic growth and opportunity, including community partners, employers, post-secondary job boards, and job seekers across Canada. Magnet’s intelligent job matching technology connects job seekers to opportunities and helps businesses find relevant and timely growth opportunities.

Magnet provides the digital infrastructure for Canada’s new Future Skills Centre, a forward-thinking research centre with a focus on how to best prepare Canadians today for workforce opportunities of the future.

For more information on our partnership and initiatives, please visit: Magnet.today.

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For more information, please contact:
Emma McKay, Senior Manager, Brand Communications, 437-488-2438