Workplace

Diversity and Inclusion

RBC is considered a leader in diversity. For example, we have extensive experience with programs and initiatives related to women, visible minorities, people with disabilities and Aboriginal Peoples. We will build on this history when we release the RBC Diversity Blueprint in 2008, as a comprehensive statement of our global strategy and priorities, and a guide for doing better in the future.

Our goal is to foster an inclusive work environment that brings out the best in everyone, provides opportunities for talented employees of all backgrounds, and contributes to the creation of innovative solutions for clients and communities.

We promote diversity by playing a leadership role and raising awareness, and through training, employee resource groups and other programs.

Workforce composition

The composition of our workforce is an important measure of how well our diversity efforts are working. Diversity initiatives can take several years to show results, making year-over-year comparisons less meaningful than longer-term ones.

* Figures represent Employment Equity data as of October 31, 2006 for our businesses in Canada that are governed by the Employment Equity Act. For more information, refer to RBC's Annual Employment Equity Report. In the U.S., as a federal contractor, RBC Centura is subject to the Americans with Disabilities Act (ADA) relating to the employment of persons with disabilities.

Leadership

In order to create and sustain a diverse and inclusive work environment, people at all levels of the organization must be engaged. Our President and CEO chairs the RBC Diversity Leadership Council, created to establish strategies and goals, and put RBC senior level diversity champions in place in North America and the United Kingdom. In addition, individual business units have diversity leadership councils that help advance diversity and inclusion.

Raising awareness within RBC and beyond
RBC promotes diversity by sharing our knowledge and encouraging discussion of its impact on business, communities and the economy. We lead a number of diversity research initiatives that highlight this issue.

In 2007, RBC sponsored a study by Catalyst Canada and Ryerson University on the career development and advancement of visible minorities in corporate Canada. The study highlighted progress and successes. However, it showed that visible minorities are less satisfied with their careers, and provided strategies for companies to help them more fully leverage the talents of visible minority employees.

Also in 2007, a study from RBC and Ipsos Reid showed that a large majority of new immigrants are happy to be in Canada and hopeful about their future, but slightly more than half feel they are still in the process of settling into their new lives. This follows RBC's landmark 2005 study, The Diversity Advantage: A Case for Canada's 21st Century Economy. It showed that the Canadian economy risks losing a historical competitive advantage if the potential of immigrants and other minorities is not recognized.

Another area of importance is integrating people with disabilities into our workforce. In 2007, Ryerson University's School of Disability Studies released the report Doing Disability at the Bank: Discovering the Learning/Teaching Strategies Used by Disabled Bank Employees. With RBC as an active partner, the study found employees with disabilities have developed creative approaches to successfully learn at work. Before this study, social science researchers knew very little about
how people with disabilities learn in mainstream workplaces, particularly in corporate environments.

Training and mentoring

RBC is committed to ongoing learning, coaching and mentoring to ensure we develop and support a rich and diverse workforce.

Employee diversity training initiatives include:

• Business Excellence through Diversity: Workshops were completed by over 350 employees globally.
  
  
• Building Cross-Cultural Competence: Over 400 employees participated in an interactive workshop or webcast that helps increase "cultural curiosity," respect and understanding and builds skills in working with diverse teams and clients.
  
• Creating an Inclusive Environment and Supporting People with Disabilities: More than 200 employees participated in a workshop or online meeting to help managers become more aware of potential barriers, and to accommodate and find resources for clients and employees.
  
• Respectful Workplace: This program was launched in the U.S. in 2007 to help employees understand and comply with our Code of Conduct and respectful workplace policy, which states that all employees have the right to work in an environment free from harassment, discrimination and offensive behaviour. All employees in the U.S. will have completed the program by mid-2008.
  
  
• A series of diversity and work/life related seminars were delivered to more than 150 senior managers.
  
  
• Extensive self-study materials are available 24/7 through our internal website, Destination Diversity.
  
  
• RBC Diversity Dialogues: Our reciprocal mentoring program connects two people with different professional experiences and backgrounds who learn about leadership and diversity from each other.

Employee resource groups

Employee resource groups are self-governing networks of employees that help their members develop personally and professionally through peer mentoring, coaching and networking. These groups help cultivate an inclusive work environment by fostering a better understanding of their needs. Groups that are formally recognized by RBC receive an annual budget and communications support from the company.

In Canada, we have employee resource groups representing aboriginal employees (Royal Eagles); lesbian, gay, bisexual and transgendered employees (PRIDE); and employees with disabilities (REACH).

In the U.S., we have groups representing gay and lesbian employees (GLADE) and minority employees (MEA). As well, women brokers are automatically members of the Women's Association of Financial Consultants, a resource group that fosters the productivity and success of women financial consultants through a wide range of information, events and programs.

Programs to support diversity

We participate in a number of external and internal programs that support diversity. For instance, for the past 10 years, we have successfully partnered with the Career Edge organization to provide paid internships to students. Through the Career Bridge program for newcomers to Canada, we have placed 42 qualified professionals in internship positions. Through the organization's Ability Edge program we have provided 66 internships for graduates with disabilities.

Approximately 80 per cent of interns in both programs join RBC as full-time employees following their internships.

We are also committed to increasing the representation of Aboriginal Peoples within our workforce, through proactive recruitment and programs:

• Since the RBC Aboriginal Student Awards Program was launched in 1992, we have awarded 69 scholarships totalling $834,000 to aboriginal students across Canada. In 2007, we awarded eight scholarships.
  
• A total of 49 students across Canada participated in the RBC Aboriginal Stay in School Program during the summer 2007 school break. Many of our internal policies and programs promote diversity at all levels of the company by providing the flexibility and support that many employees need to manage work and life.
  
  This includes:
  
  • Access to personal work/life counselling services
    
  • Maternity, parental and family responsibility leave
    
  • The option of returning from leaves gradually or in an alternative
    work arrangement
    
  • Emergency backup eldercare and childcare in several major
    centres.

   

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