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Organizational Behaviour Analysis – Group 4

Case Study – Royal Bank of Canada (RBC) 

Akinwunmi Paul IGE (2227496), Louai Elshahawi (2234910), Rakshanda Aqeela Najeeb

(2216041), and Rishabh Sheoran (2209182)    

University Canada West  

HRMT 622: Talent Management     

Dr. Sandra Slopinski     

March 12th, 2023  

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Table of content

Executive Summary........................................................................................................................3

Company History............................................................................................................................4

Organization’s Vision and mission................................................................................................6

Job Satisfaction..............................................................................................................................7

Leadership in Organizational Settings..........................................................................................11

Organizational culture..................................................................................................................14

Work-family conflict......................................................................................................................18

Key finding and recommendations..............................................................................................21

References.....................................................................................................................................23
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Executive summary

This report provides a comprehensive analysis of the organizational behavior of Royal

Bank of Canada (RBC), the largest bank in Canada by market capitalization and one of the

leading Canadian international banks. The Royal Bank of Canada was founded in 1864, with its

headquarters in Toronto, it serves 16 million customers and employs over 86,000 people

globally. Given the Bank’s reputation in the industry and it being the leading Bank in the

industry the team identified this organization to be a great case study for this report.

In this comprehensive report on Royal Bank of Canada we have critically analyzed and

presented our findings with the support of secondary data research such as company websites,

journal articles, published case studies and newspaper/magazine articles. The report has three

distinctive parts. Firstly, we have summarised the background of Royal bank of Canada

including details of its vision, mission and core values. Secondly, we have critically analysed 4

key organizational sub-systems; job satisfaction, leadership in organizational setting,

organizational culture and work-family conflict. The critical evaluation includes analysis of the

pros and cons as well as a comparison with competitor organizations. Finally, we have presented

our key finding in line with the critical analysis and recommendations to develop and grow the

organization further.
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Company History

One of Canada's oldest and biggest banks is the Royal Bank of Canada (RBC). It was

established as the Merchants Bank of Halifax in Halifax, Nova Scotia, in 1864, marking the

beginning of its history. The bank was founded to offer financial services to the locals of Halifax

and the surrounding area as well as local businesses.

The Halifax Merchants Bank and Halifax Union Bank combined to establish the Royal Bank

of Canada in 1901. The new bank grew to be the biggest in the nation and started to grow its

business both domestically and abroad. RBC has made a number of calculated purchases

throughout the years to improve its position in the financial sector.

RBC grew its presence in the US during the 1980s by acquiring banks in Florida and

Georgia. In order to build a global presence, it also made large investments in Latin America,

Asia, and Europe. RBC now employs over 86,000 people and has over 17 million customers

worldwide. RBC has contributed significantly to the Canadian economy during its history. It has

helped small business expansion, given people and families access to banking services, and

funded significant infrastructure projects. In 2019, Global Finance magazine ranked RBC the top

bank in Canada.

Below is a summary of RBC and its performance.

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Table 1

A quick snapshot of Royal Bank of Canada

Founder Maritime Trade Merchants

Year Founded 1864

Origin Halifax, Nova Scotia

No. of Employees 83,842

Company Type Public

Market Cap CA$ 140.21 Billion (2020)

Annual Revenue CA$ 47.2 Billion (2020)

Net Income/ Profit CA$ 11.4 Billion (2020)

Note. RBC. (2018). About RBC - RBC. Rbc.com. https://www.rbc.com/about-rbc.html

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Organization’s Vision and mission

The goal of RBC is to rank among the most reputable and prosperous financial

organisations in the world. RBC provides excellent client experiences, making investments in its

people and technology, and giving back to the communities it serves, all of which are highlighted

in this vision.

To "help clients grow, and communities succeed," according to RBC's mission statement.

RBC's emphasis on generating value for its customers, staff, shareholders, and communities is

reflected in its mission. Through providing cutting-edge goods and services, promoting a diverse

and inclusive workplace, and assisting with social and environmental causes, RBC hopes to fulfil

this objective.

RBC's core values, which consist of the following, underpin both its vision and mission:

· Integrity: RBC aspires to uphold the strictest moral principles and act morally for the

benefit of its customers, staff, and communities.

· Accountability: RBC is committed to ongoing improvement and accepts responsibility

for its decisions and results.

· RBC encourages diversity and inclusivity in the workplace and in the community because

it understands that they are crucial elements of success.

· Customer First: RBC prioritises the needs of its customers and works to provide great

customer experiences.
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Job Satisfaction

RBC provides a range of financial products and services, including personal and

commercial banking, wealth management, insurance, and investment banking. The bank has

more than 16 million clients and operates over 1,200 branches across Canada. In Addition, RBC

serves more than 17 million customers through approx. 1,270 branches worldwide and has the

largest branch and ATM network in Canada and has over 80,000 employees across.

Nonetheless, the focus here is job satisfaction, based on the last available data from 2019,

the Royal Bank of Canada had a turnover rate of 7.4%. This means that 7.4% of the bank's

workforce left the company in that year. In Addition, it is important to note that turnover rates

can vary depending on the industry, job type, and location. High turnover rates can be an

indication of poor employee engagement, low job satisfaction, or issues with company culture.

On the other hand, a low turnover rate can suggest that employees are satisfied with their work

and see opportunities for growth and development within the company.

The Royal Bank of Canada has been recognized for its efforts to foster a positive

workplace culture and retain top talent. In 2020, it was named as one of Canada's Top 100

Employers for the 13th consecutive year, based on factors such as employee benefits, training

and development programs, and community involvement. In comparison, TD Bank had a

turnover rate of 10.8%. This means that 10.8% of the bank's workforce left the company in that

year, which means it is higher than RBC’s.

Another way to attempt to evaluate RBC employees’ satisfaction is to look at the average

seniority. Average length of service for Royal Bank of Canada employees is approximately 5
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years, compared to the average length of service for TD Bank employees is approximately 4

years.

There is multiple way to evaluate job satisfaction for employees at a certain company,

because some would value a positive environment, others value their engagement with senior

managers, and lastly just focus on the compensation.

· RBC offers employee lounge amenities. Such as, comfortable seating, fireplace, music,

television, foosball table, each floor of the head office features an Oasis lounge with

televisions and self-serve kitchens, dress-for-your-day policy, casual dress (e.g. jeans)

daily, casual dress Fridays. Also, focuses on positive environment to accept everyone

without excluding any specific group (2017).

· RBC focuses on engaging with their employees, so no one feels excluded. employees

receive individual performance reviews every 12 months, employees can also provide

confidential feedback on their manager's performance, online recognition platform such

as “Instant Thanks” that lets employees send e-cards and recognize their colleagues for

work accomplished, achievements and milestones.

· On the other hand, one of the main points that dictate an employee’s satisfaction with an

employer would be compensation. the average base pay for a Royal Bank of Canada

(RBC) employee is around CAD 63,000 per year. This figure can vary depending on

factors such as job title, location, and experience. For example, a financial advisor (which

is not an entry level job) at RBC can earn an average base pay of CAD 42,000 to CAD

78,000 per year compared to Bank of Montreal (BMO) where their average is CAD

48,000. Moreover, Employers can promote job satisfaction by creating a positive work

culture that fosters open communication, offers opportunities for growth and
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development, and promotes employee engagement and well-being. Employers can also

work to ensure that employees are compensated fairly, recognized for their contributions,

and provided with a supportive work environment that allows them to thrive and be

productive. With that being said, RBC tries to promote Healthy and positive environment

to their employees. However, RBC is not being considered as one of the best when it

comes to compensation.

RBC has invested in its employees in various ways, including providing training and

development opportunities, supporting work-life balance, and promoting diversity and inclusion.

Here are some examples:

 Training and Development: RBC provides employees with numerous training

opportunities, such as online courses, workshops, and mentorship programs. RBC's

"Career Launch Program" is a two-year program that provides new graduates with in-

depth training and development, including job rotations and mentorship. RBC has also

partnered with LinkedIn Learning to provide employees with access to thousands of

online courses.

 Work-Life Balance: RBC promotes work-life balance through initiatives such as flexible

work arrangements, on-site fitness facilities, and mental health resources. In 2020, RBC

launched the "MyWellness" program, which provides employees with resources and tools

to support their mental and physical health..

 On job review platforms like Glassdoor, RBC has furthermore won praise from staff

members in addition to external accolades. Thousands of evaluations from current and

previous employees have given RBC an overall rating of 3.9 out of 5 stars on Glassdoor.

The company's culture, benefits, and opportunity for professional progression are
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frequently mentioned as advantages by reviewers. On the other hand, on employment

review websites like Glassdoor, BMO has also gotten praise from employees. Based on

tens of thousands of evaluations from current and former workers, BMO has an overall

rating of 3.7 out of 5 stars on Glassdoor.

In conclusion, when it comes to job satisfaction, it depends on many variables. Such as,

employees' satisfaction, work environment, and compensation. However, some employees may

have personal issues with a TM leading strategy, such as micro-managing and may cause them to

leave the company. Nonetheless, RBC seems to be putting a lot of efforts to ensure employees

engagement to increase satisfaction.

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Leadership in Organizational Settings

The quality of the leadership in the organizational behavior is to have management ability

for excellent decision (Paais & Pattiruhu, 2020). Also, to inspire the surrounding to give better

performance with improvement.

The development of the organization is depending on the leaders. The environment and

the development and growth of the organization are being led by good leaders (do Adro &

Leitão, 2020). Leaders have the skill set and the efficiency for business growth.

Leadership towards Organizational Setting

For achieving the goals of the organization or company the action of leadership by the

people who are leading the organization is needed. There are lots of ways used by the leader to

influence the behavior of employees (Xie, 2019). The setting of a clear vision is done by the

leaders in terms of employee motivation and helping or guiding the employees by building

morale and through the working process. Leadership is so important for the performance of the

organization. The relationship between success and organization can be directly linked to good

leadership because of the determination of culture, values, employee motivation, and change of

tolerance done by leadership.

For handling or tackling the challenges in the banking industry or the business

transformation, leadership plays an important role as a modern key. The leadership includes

staying abreast of the trend of markets, new entrants, and the right kind of skills and assets. The

role of the finance leader is so responsible because of the maintenance of the financial health of

the company through allocations of funds and budgeting activities. The strategic growth is being
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driven by the financial leaders (Sparkes et al., 2019). The growth of the company or an

organization is depending directly upon the leaders because all the decisions are taken by or

under the supervision of the leaders. The major leadership in the field of finance or banking is

transformational leadership behavior because there are lots of major problems and issues that can

be solved by this behavior of leadership.

The Royal Bank of Canada has the style. The model of the RBC is that the performance

of all the leaders is measured by the set of behavior. with the management of performance, talent

development, and inclusive leadership being integrated by the leaders of the RBC which helps to

create a strong global culture of sponsorship and mentoring (Coulmont et al., 2022). RBC runs a

leadership program led by the Olympian Sara Wells, who believe that student will get the

collaborative opportunity with minded individual, helps to develop the skill of leadership,

creation of community impact, and be able to show that impact to the leaders of the RBC and

experts of the industry by the impact leadership program. The main and unique about the RBC

bank is being from the small group of global banks which are highly rated and recognized again

and again due to its market leadership, strength of finance, and philanthropic work. The reason

behind the success of the Royal Bank of Canada is they delivered payment efficiency and

delivered efficiency in activities of the daily accounting process. Royal Bank of Canada provides

better control over cost, information on interest cost immediately, and also of data integrity.

There are lots of things that make the different image of RBC from its competitors. The major

qualities are the relation of the client or the ability to work with the client. The main goal of the

leaders of the RBC is to put all efforts into fulfilling the requirement of the client. Involving

more in the transaction is the priority of the Bank.

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Leadership program run by Royal Bank of Canada

The aim of the leadership program by the Royal Bank of Canada is to create leadership

for the future perspective (RBC, 2023). the program of the Royal Bank of Canada has consisted

of the two years of period with five stream focus. The streams of the program are:

CFO group: This stream allows the employee to experience the global finance of the Royal

Bank of Canada organization with exposing the challenges in the complex environment.

Internal audit: This stream allows grab the opportunity to skill development and helps to

accelerate the auditing skill for the future.

Group risk management: This stream allows having a challenging situation with the

development of leadership skills.

Enterprises: in this stream, the assignments related to the customization and business priorities

will be given to the leaders to work on it as a unique opportunity.

Commercial and personal banking: in this stream of the program, the leader can develop an in-

depth and solid understanding of the Royal Bank of Canada and their business segments.

Fostering a culture of inclusion and diversity is the commitment of RBC’s leadership

(RBC, 2023). Various initiatives are being implemented by them to promote equity, diversity,

and inclusion. Employee engagement and empowerment are being encouraged by the RBC’s

leadership which resulted in the satisfaction of employees positively.

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Organizational culture

When we analyze the Canadian financial market, we can observe that banks and financial

institutions all offer similar products at a similar interest rate. In this context what would

differentiate them from competitors is their organizational culture. The Royal Bank of Canada

describes its culture as one that is influenced by five main core values, where they believe that

these would set the tone for the culture that unifies them across geographies and businesses

(RBC Capital Markets | Culture & Values, n.d.).

RBC core values are communicated across the organization and functions as the pillars in

driving the optimal organizational culture within RBC. Some of these elements are well

represented through artifacts such as having an open-door policy, office layout and structure

which is standardized across branches and official dress code for all employees.

Being a financial institution ethics and integrity is very crucial for RBC and they promote

an open communication from top to bottom of the organization on adopting an ethical attitude in

responding to market needs. This ethical brand image tool has enabled RBC to have a strong

competitive edge over competitors its competitors as well. In fact, according to This Is What

Employees Are Saying about Culture at RBC (n.d.) RBC ranks in 2nd for integrity among the top

financial institution in the market, beating TD bank and the Bank of Nova Scotia.

In terms of power distance RBC has a large power distance. It follows a strict disciplined

culture with a tall structure where management holds the ultimate decision-making authority and

strictly control the work behavior of employees. In such an environment there is little or no room

for innovation which is a downside in the long term (Hofstede, 2011). Since banking products

are the same across all the competitor banks, the means by which a Bank could bring in
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innovation and creativity is to incorporate these into their product quality and customer service.

If we observe competitors, The Bank of TD has a higher product quality, better pricing and

higher customer service than RBC because of the inclusive culture which ensures all employees

are included, seen and heard in decision making. (Work, n.d.)

RBC is known to assigning employees with challenging goals, although the organization

mentions about the value of human capital and the need to maintain a balance between work and

life, it is not reflected in the processes and practices (This Is What Employees Are Saying about

Culture at RBC, n.d.). Despite the fact the company has implemented certain processes to

support and employees in achieving work goals in the manner of rewards and recognition, it is

evident that RBC has an extremely work oriented culture which has led to higher stress levels

and low motivation in employees.

When it comes to rewards and recognition RBC follows quite a different strategy

compared to competitors. The rewards and recognition function at RBC is not a part of the

human resource department but is integrated in with the sales department. Today they a

decentralized recognition system where employees are rewarded by their managers based on a

points program system and a nomination system. This strategy has enabled the company to

recognize as many employees as possible without restricting it to one or two top performers and

without restricting into an annual award ceremony event. This is defiantly a rewards culture that

is appreciated employees and is embedded strongly into its culture driving the performance of

the company.

A diverse environment is one where the company employs people for various

backgrounds, religion, sexual orientation or nationality and promotes inclusiveness. RBC

although has this as one its core values if we observe the diversity and inclusion in the company,
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RBC’s score is below TD bank and Bank of Nova Scotia which employees a diverse workforce.

This element has contributed to increased customer satisfaction in both TD and Bank of Nova

Scotia as opposed to RBC (Brinks, n.d.). In the case of the Bank of Nova Scotia they have been

able to expand their business internationally with a presence in 55 countries mainly due to the

reason that they have a diverse workforce and culture which encourages and embraces diversity.

ShieldSquare Captcha (n.d.) has created a particular analysis on women in management

at RBC and following is the summary of the analysis.

Figure 1

Women Representation trend in RBC from 2018 to 2021

Note: ShieldSquare Captcha. (n.d.). Www.globaldata.com. https://www.globaldata.com/data-

insights/financial-services/rbc-workforce-diversity-and-inclusion-2091293/

According to the analysis the overall percentage of women employees in the bank is more

than 57% representing a higher participation versus male employees. However, when we look at

women in senior management this percentage has dropped significantly and even over the years

from 2018, we see a decreasing trend where a smaller number of women were involved in senior

management and observation indicate that the woman in top management is much less that this

as well.
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Overall RBC has managed to instill a corporate culture with by balancing various

subcultural elements within the organization. An organization which can successfully create an

alignment between its culture, structure and business strategy will be able to use its culture as a

tool to gain competitive advantage in the market. RBC with years of experience and years of

developing and building cultural elements has definitely found the right balance between its

culture, structure and strategy and is an example of an organization with a strong culture.
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Work-family conflict

Work-family conflict is when the demands and responsibilities of work and family roles

come into conflict with each other and make people feel tense and stressed. This problem

happens because work and family have different needs, like long work hours, set schedules, and

not enough help from employers. This conflict can hurt a person's physical and mental health,

make them unhappy at work, and lower their overall quality of life. Because the banking industry

is so demanding, there can be problems between work and family at the Royal Bank of Canada.

The financial industry is known for being one of the most difficult sectors to achieve work/life

balance because of the intense nature of the operation and long hours of work. Employees may

find it hard to balance their work and family responsibilities when they have to work long hours

and meet tight deadlines. Also, the COVID-19 pandemic has made this conflict worse because

employees are now expected to work from home. This makes it harder to separate work and

home life.

Work-family conflict causes stress. Long hours, rigid schedules, and poor employer

support cause work-family conflict. Royal Bank of Canada's demanding banking industry can

cause work-family conflicts. Working long hours and meeting deadlines can make work-life

balance difficult. The COVID-19 pandemic forces workers to work from home, exacerbating the

conflict. Work-life balance is becoming harder by day. Work-family conflict is a big problem

that can hurt both the health of employees and the organization. Work-family conflict affects

productivity, profitability, family well-being, health, and stress. Work-family conflict affects

career, family, and success. Job satisfaction, organisational commitment and turnover, marital

satisfaction, family satisfaction, personal outcomes like physical symptoms, eating and exercise

habits, and emotional well-being, and (e.g., stress and depressive symptoms, life satisfaction).
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Canada ranks 14th for work/life balance, with Canadians on average working 1,644 hours per

year and only 3.3% working more than 50 hours per week (Staff, 2022).

RBC has an excellent program in place to support employees with work life balance. The

program is known as EAP –Work life Employee Assistance Program, where experienced

consultants listen to employee problem such parenting issues, marriage issues, dealing with loss

of a loved one etc. And help you get the right advice and support. The program includes the

following;

· 24/7 telephone consultations: To speak with an expert consultant with utmost

confidentiality and to receive support and resources.

· Personalized searches and referrals

· Face-to-face counselling: Ability to arrange a face-to-face meeting with a counsellor in to

get an expert opinion

· Online issue-specific resources: Access to a variety of resources online

This program has helped employees in many ways to balance their work and family.

RBC also offers employee mental health benefit which includes a coverage of $5,000 annually.

RBC also offers on-site child care, parental leave, and elderly care. This balances, work and

family.TD bank on the other hand offers its employees a variety of flexible work options, such as

an employee share ownership plan, flexible work hours, an Employee and Family Assistance

program, mental health awareness training, and emergency childcare (Benefits of Working at TD,

n.d.)

Work-family conflicts can be solved by putting in place policies and programs that help

people find a good balance between work and family life. For example, RBC could offer flexible
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ways to work, such as working from home, changing work hours, and sharing jobs. This would

give workers more control over their work schedules and make it easier for them to take care of

their families. Managers can make a big difference in resolving work-family conflicts by giving

their employees emotional support, understanding, and empathy.

The Royal Bank of Canada needs to make policies and programs that help people balance

their work and personal lives. It also needs to create a culture that values and promotes the health

and happiness of its employees. By doing this, RBC can make the workplace a better place to

work and reduce conflicts between work and family.

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Key finding and recommendations

As a leading financial institution in the industry the Royal Bank of Canada has numerous

strengths within its sub-systems that enable it to thrive in the marketplace. Over the years RBC

has built a very reliable and strong distribution network and has a strong track record for ethical

and integrity driven operation with an excellent customer service and a strong culture that

support both its structure and strategy. We strongly recommend RBC to continue its cultural

systems as it is since we see that it has contributed to the growth and reputation of the bank.

The analysis suggests that organizations put flexibility at the top of their list of priorities,

support the well-being of their employees, give them access to resources, and create a culture

that encourages open communication and understanding. In particular, the report suggests that

companies offer flexible work options, like working from home, to help employees balance their

work and family obligations. It also suggests giving employees help with their mental health,

childcare, and other needs so they can handle their caregiving duties. Lastly, the report shows

how important it is to create a culture of empathy, understanding, and open communication so

that employees feel supported and valued.

They also have a very strong brand portfolio that enables them to excel in the market as it

acts as a strength but however, we see that due to its power distance culture there is lack of

innovation when it comes to products and services which may impact its market share as

competitors such as Bank of Nova Scotia and TD bank both are in the fore front of innovation in

products/services as well as digital services. IN order to drive innovation, we suggest that RBC

should restructure their organizational structure to make it flatter, and to pass autonomy in

decision making to lower levels of the organisation. This would not only drive innovation it

would also help increase employee moral e and motivation as well.

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Labour shortage in Canada is an issue that is affecting all industries and given the

circumstance within RBC where we see low job satisfaction among employees and high turnover

ratios impose a threat in shortfall of skilled employees which hinders the long-term growth of the

company. RBC must take immediate corrective measures in order to ensure that this long-term

impact can be controlled with certainty.

The Analysis also suggests that RBC has a strong presence in Canada and US but has not

expanded into international markets, given its strong systems and financial status RBC is in a

good position to expand into international markets which would increase its channels

optimization and contribute to increased diversity within the organization.

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