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Communication
Listening and responding
RBC has conducted regular employee opinion surveys since
1981. We compare our survey results with top performing North
American companies and financial institutions. We celebrate
our successes, and take action on areas for improvement.
In 2006, we conducted a global employee opinion survey to
which over 70 per cent of employees responded. It indicated:
- strong support for the company's vision and values;
- a belief that RBC provides opportunities for personal
growth and development;
- that employees value both the monetary and non-monetary
rewards of working at RBC.
These were the strongest drivers of employee engagement at
RBC, contributing to an employee engagement score that is
well above the North American high-performance survey benchmarks.
However, employees said we could improve in the area of "performance
and career management." In 2006, RBC introduced changes
to our performance management system by:
- recognizing employees' behaviours as well as their contributions
to the results we achieve;
- translating business strategies into clear team and individual
goals;
- strengthening the link between personal contribution
and annual incentive opportunity;
- increasing annual incentive opportunities for exceptional
results to provide differentiated rewards for top performers;
- introducing resources to assist employees in building
a winning career, including providing all employees globally
with access to Career Advisor, an online career development
resource.
Information and education
Keeping employees informed is part of RBC's culture. In 2006,
we:
- held quarterly conference calls with the CEO and senior
executives covering financial and business performance,
key initiatives, updates on employee programs and an open
forum for questions and answers;
- enhanced our corporate intranet site with more targeted
information to help employees do their jobs, put clients
first, and understand RBC's businesses. In 2006, there were
220 news stories posted, averaging four stories per week;
- expanded access to our intranet by enabling employees
to log on at work and at home. Employees have 24/7 access
to resources, forms, contacts, information about human resource
policies and their Total Rewards;
- launched a monthly intranet-based news magazine, designed
to encourage two-way communication. More than 12,000 employees
participated in quick polls in the first six issues.
Employee concerns
Employees with concerns may approach our Employee Ombudsman,
within the Office of the Ombudsman. This confidential and
impartial resource provides a way for employees to manage
and resolve workplace conflict through discussion, coaching
and mediation. In 2006, the Employee Ombudsman handled 1,027
cases on behalf of all RBC businesses and employees.
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