Importance of work force diversification in Royal Bank of Canada

Topics: Culture, Royal Bank of Canada, Cultural diversity Pages: 18 (4122 words) Published: December 4, 2014
CSGB 6101
Human Capital Management
Personal written assignment
Work Force Diversification in Royal Bank of Canada
Lecturer: Dr. Mohammad Nazri Bin Mohd. Nor
By: Payam Nasehi
CGA120079
Email address: p.nasehi@gmail.com , p.nasehi@siswa.um.edu.my Contact No: 014-9686030
May 2014

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Table of Content:

page

Company Introduction…………………………………………………………………………………………………3 Work force diversification in RBC…………………………………………………………………………………4 Desired behavior at a glance………………………………………………………………………………………..9 Understand and values diversity…………………………………………………………………………………..9 Promotes implementing and integration diversity…………………………………………………….. 10 Demonstrates cultural diversity………………………………………………………………………………….11 Develops, Mentors and coaches others………………………………………………………………………12 RBC Reward on 2014..…………………………………………………………………………………………………15 Quick glimpse to banking industrial in Canada from diversity approach……………………..16 Conclusion …………………………………………………………………………………………………………………16 Appendix ……………………………………………………………………………………………………………………17 References………………………………………………………………………………………………………………….18

List of Tables
Table 1: Introduction…………………………………………………………………………………………………….3 Table 2: RBC’s news ……………………………………………………………………………………………………..4 Table 3: Integrated model for diversity and inclusion……………………………………………….5-6 Table 4: statistic and RBC plans for immigrants and US market………………………………...6-7 Table 5: RBC plans for diverse………………………………………………………………………………………7

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Company Introduction:
Royal bank of Canada founded on 1864 in Halifax, Nova Scotia in Canada. This bank known as RBC in Canada and its shares registered on two stock markets: TSX (Toronto Stock Exchange) and NYSE (New York Stock Exchange). RYC is the biggest bank in Canada by revenue and market capitalization by The Globe and Mail and gained 53 on Forbs 2000 listing on 2008 and currently gain 50 in 2013 this company operate in Canada and 46 countries . This company has 1209 branches in Canada, they provide services to around 15 million people as individuals, business, public sectors and institutional clients. Furthermore they have 439 retail banking subsidiary in 6 northern states of USA that serves to more than one million customers further more they also have 127 branches in the Caribbean which serve to 1.6 million customers. RBC Royal Bank has carved out a name for itself as a leader in the Caribbean region, especially in the Anglophone Caribbean.

Table 1: Introduction

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Refer to below table, RBC gained highest amount of awards and top diversify company title in its life in workforce diversity, what is going on in this company? , Which organizational culture push RBC to respect to diversity and classified diversity as a valuable asset? This paper explain race diversity in Canada, RBC statistic about workforce diversification and its plans and culture, Step by step guide line distributed by RBC among employees to know, how to handle workforce diversity in working place.

Work force diversification in RBC:
Actually it is better to explain about race diversification in Canada at first to show that how much this issue is important for RBC. Canada is a country that warmly welcome to capable immigrants from all over the world to provide expert workforce for progress and accumulate welfare for local and immigrants as well, obviously it is clear when we measure a Canadian company in workforce ethnicity diversification we should expect multi race organizational environment, moreover it is so important to motivate all of them to follow the organizational culture and do their best to achieve the goals. On the other hand each race and nationality has specific values and norms which this cause to different behavior and different motivation factors. These diversifications can have positive and negative effects on every organization, they are useful during people 4

management, organizational performance and strategic management. Manager can use ethnic diversity to achieve better...
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