Our commitment to ​​​​​​​investing in our people - women celebrating

We’re Investing
​​​​​​​in Our People

RBC is committed to supporting our nearly 90,000 employees around the world. In appreciation of all that they give to our clients and communities, RBC recently announced a CAD $200 million initiative to support the unique and evolving needs of our people.

The actions include:

1. Increased total rewards to support employee life goals.

1. Increased total rewards to support employee life goals.

​A competitive total rewards package is key to attracting and retaining the best talent. During the first half of 2022, RBC made a number of compensation adjustments for select roles across the company. Recognizing market pressures and the impact they are having on some employees, RBC announced:

  • A mid-year base salary increase of 3% for employees in lower salary bands to address the market and the rising cost of living pressures.
  • A commitment to all employees that these unique market forces will be factored in at year-end when setting salaries for 2023.
  • Increased employer contributions to the Canadian Defined Contribution Pension Plan over two years, starting January 1, 2023.
  • Enhanced family benefits for fertility, surrogacy and adoption services in Canada effective July 1, 2022; with a commitment to continue to explore similar offerings in other regions.
2. Increased support for flexible and personalized work options.

2. Increased support for flexible and personalized work options.

​Feedback from employees throughout the pandemic showed how much our people value flexibility. New and planned investments to support flexible and personalized work options will include:

  • Ongoing investments to improve remote, hybrid and in-person work experiences with new resources, more flexibility and leading technology to help employees collaborate more easily, wherever they work.
3. Increased support for career development.

3. Increased support for career development.

Again and again, RBC employees tell us how much they value being able to continue to learn and grow along their career journey. With that in mind, RBC is investing in:

  • Enhancing our talent marketplace through AI-enabled technology.
  • More future-focused programs that enable employees to develop through experiential and work-integrated learning, re-skilling and mentorship.

Looking to the Future

As a leading employer of choice, RBC is committed to adjusting and responding to changes in the dynamic marketplace to support employees’ needs. In addition to supporting the unique life and career goals of employees, we also offer an inclusive culture and a great place to work. This recent investment is just the latest in our continued appreciation and ongoing commitment to our people.