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RBC / Banque Royale du Canada


http://www.royalbank.com/

Size of company: Large (More than 500 employees)

Industry: Bank, Insurance, Financial services

  • I never thought I'd find myself writing about how much I hate the direction RBC is moving. If you had asked me ten years ago to rate the company I would have given RBC a 10 out of 10. However, fast forward to today, and I'm sorry to say that it is without a doubt the worst company I've ever worked for. Every year our sales targets get more and more unreasonable. I'm sure the company does this on purpose to avoid paying annual bonuses to staff under the guise that they did not meet their targets, It is ridiculous that our sales staff in our tiny branch have to reach a combined total of $14,000,000 brand new money from loans, mortgages, and investments. This figure does not include our Financial Planner, IRPs, or Mortgage Specialists. This target is between myself and three other team mates, with me carrying most of it. Seriously, the heads who make these annual targets, must really want us to fail. They have us embracing this new "retail" banking which basically has added extra work on top of our already ridiculous schedules and now they expect us to go out and bring in more new money with their unachievable targets. I was even threatened with a down-grade in my position if I do not achieve these ridiculous goals. Honestly, this bank only cares about money, they do not care about loyalty, they chew you up and spit you out with their toxic work places and pressure to achieve unattainable goals.

    Posted on 5 November 2015 by Rater #419 | Flag as inappropriate

    Was this review helpful? 294 5

Comments

Well now that our Branch has gone full mobile and retail, yes all the Tellers are now Investment and credit specialists and have a "wealth of knowledge" to dip into, since all these twenty-something kids have so many "life experiences" to draw from. We now have junior banking advisors with mutual fund licences barely a few months old, cherry-picking clients from the Financial Planners and Senior Acct Managers, who have much much higher targets and have paid their dues to get to the top. Our branch is now a "war-zone" where I now have to go battle some newb to take back clients who are on my desk.

Posted on 27 August 2016

Our branch recently became a retail multi-media branch since Management has decided everyone (including Tellers) will now all be mutual fund licensed and also able to provide credit and investment advice all from the front line when people come in to deposit funds or pay bills. This is ridiculous, can you imagine taking investment advice from a twenty-two year old who has zero life experiences, and barely passed his/her IFIC? Also, RBC assumes everyone wants digital banking. This is very untrue. I have many clients on my desk ranging from mid-thirties to late-nineties who prefer face-to-face banking and advice, they don't like online banking for whatever personal reasons.

Posted on 5 July 2016

Does anyone realize that at this point RBC cannot sustain their Defined Benefit Pension Plan? 94% is the best they can do. Probably would never be a factor, since the odds are in their favor that not everyone would survive and collect. I guess it would make better business sense to send some long term loyal employees packing before they can actually receive the pension they worked so long to earn, just to make sure. Have a look at your DB statements, if you weren't swayed into converting them to a defined contribution plan. You can read it yourself.

Posted on 21 June 2016

The Bank invested lot of money in the new technologies- our Manager has been repeating constantly what Bill Gates said: "we need banking but not Bankers"...figure out then how much they need tellers or receptionist of branches...

Posted on 27 December 2015

This could not be truer, our branch was also converted to a retail branch, with unreasonable goals which no one could meet. Being told you are under achieving makes you realize changes need to be made. All the front staff now do not exist transferred, quite, or retired what a joke but really sad. The poor clients but who cares about them. What is the RBC doing??

Posted on 10 December 2015

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