OBR250 ZSS Research Assignment 1

Building a Diverse and Motivated

Workforce Insights from Royal Bank of Canada’s
Journey

NAME OF STUDENT: Prabhjot Singh

STUDENT NUMBER: 121657225
DUE DATE: 15TH June, 2023
COURSE CODE & SECTION: OBR250 ZSS
PROFESSOR’S NAME: Prof. Shweta Dharia
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Contents
Introduction..........................................................................................................................................................3
Diversity & Inclusion.............................................................................................................................................3
Effectiveness Evaluation.......................................................................................................................................3
Motivation Analysis..............................................................................................................................................4
Assessment of Impact...........................................................................................................................................4
Inclusive Work Environment.................................................................................................................................4
Recommendations................................................................................................................................................5
Personal Reflections.............................................................................................................................................5
RESOURCE CITATIONS.......................................................................................................................................... 6
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Introduction
The Royal Bank of Canada (RBC) is a prominent and highly regarded financial institution that holds a
prominent position in Canada's banking industry. Founded in 1864, RBC has grown to be one of the
largest banks in the country. RBC's diverse operations within the financial services industry position it as
a key player in the Canadian market. Its extensive range of offerings, combined with its commitment to
customer service and innovation, has contributed to its success and reputation as a leading bank in
Canada.

Diversity & Inclusion

RBC has established itself as a leader in promoting diversity and inclusion within its organization. The
bank recognizes the value that a diverse workforce brings in driving innovation, enhancing decision-
making, and fostering a positive work culture. RBC's commitment to diversity is reflected in its
comprehensive diversity policies, initiatives, and practices.
1. One notable aspect of RBC's approach to diversity is its emphasis on diverse hiring practices. The
organization strives to create a workforce that reflects the diversity of the communities it
serves. The bank has implemented measures to mitigate unconscious biases and promote equal
opportunities for all candidates.
2. RBC also supports employee resource groups (ERGs) as an integral part of its diversity initiatives.
ERGs provide a platform for employees to connect, share experiences, and foster a sense of
community within the organization.
3. RBC actively collaborates with external organizations focused on diversity and inclusion. The
bank forms partnerships with community organizations, non-profit groups, and industry
associations to support initiatives that promote diversity in the broader society. By engaging
with external stakeholders, RBC demonstrates its commitment to creating a more inclusive
society beyond its internal operations.
4. RBC has implemented mentorship programs that help foster a culture of inclusion and support
the career development of diverse talent. These programs pair employees with mentors who
provide guidance, advice, and support to help individuals reach their professional goals.

Effectiveness Evaluation
One of the key indicators of success is the representation of diverse groups within the organization. RBC
has made significant strides in achieving diversity across dimensions such as gender, ethnicity, LGBTQ+
individuals, and persons with disabilities.
However, despite the progress made, there may still be areas for improvement. Challenges such as
achieving equal representation across all levels of the organization and addressing unconscious biases
may persist. It is important for RBC to continuously evaluate and monitor these challenges to ensure
ongoing improvement and sustained success.
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Motivation Analysis
The Royal Bank of Canada (RBC) is known for its strong focus on employee motivation and engagement.
The organization recognizes that motivated employees are crucial to its success and has implemented
various practices to foster a positive work environment.
1. One of the key motivational factors within RBC is a clear sense of purpose. The organization
emphasizes its values and mission, ensuring that employees understand how their work
contributes to the overall success of the bank and the well-being of its clients.
2. RBC places a strong emphasis on recognition and rewards. The bank acknowledges outstanding
performance and achievements through various channels, such as employee recognition
programs and performance-based bonuses. This recognition not only reinforces positive
behavior but also instills a sense of pride and accomplishment in employees.
3. RBC promotes work-life balance by offering flexible work arrangements and wellness programs.
By prioritizing the well-being of its employees, the bank creates a positive and supportive work
environment that helps maintain high levels of motivation.

Assessment of Impact
The impact of the motivational practices employed by the Royal Bank of Canada (RBC) on employee
performance and job satisfaction is significant. These practices play a crucial role in fostering a positive
work environment and creating a motivated workforce.
Firstly, the emphasis on purpose and clear communication of RBC's values and mission helps employees
understand the importance of their roles within the organization. When employees have a clear sense of
purpose and can see how their work contributes to the overall goals of the bank, it can greatly enhance
their motivation and drive to perform at their best.
Secondly, the opportunities for career growth and development provided by RBC contribute to both
employee performance and job satisfaction. When employees are given the chance to enhance their
skills and advance in their careers, it boosts their motivation and engagement. They feel valued by the
organization and are more likely to be proactive and take initiative in their roles.
The recognition and rewards practices implemented by RBC also have a significant impact on employee
performance and job satisfaction. Regularly acknowledging and rewarding outstanding performance not
only reinforces positive behavior but also boosts morale and job satisfaction. Employees feel
appreciated and recognized for their efforts, which increases their motivation and encourages them to
continue performing at a high level.

Inclusive Work Environment

RBC is committed to creating an inclusive and supportive work environment. The bank has implemented
various initiatives and strategies to promote diversity, equity, and inclusion (DEI). RBC provides training
and education programs to increase awareness and understanding of unconscious bias, discrimination,
and harassment. The organization also has resource groups and employee networks that offer support,
networking opportunities, and a platform to address specific needs and challenges faced by different
employee groups. RBC's commitment to DEI is further reflected in its policies, recruitment practices, and
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talent development programs, ensuring equal opportunities for all employees. The bank strives to foster
a culture where every employee feels respected, valued, and included, contributing to a positive and
supportive work environment.
RBC utilizes various communication channels to ensure information flow and transparency within the
organization. This includes regular town hall meetings, team meetings, and online platforms for sharing
updates and announcements. These channels provide opportunities for employees to stay informed
about organizational changes, initiatives, and goals.
Feedback mechanisms play a vital role in RBC's efforts to foster continuous improvement and employee
growth. The bank has implemented formal performance evaluation processes, where employees receive
feedback on their performance, strengths, and areas for development. These evaluations are often
accompanied by constructive feedback discussions, goal setting, and development planning. This
feedback-oriented approach helps employees understand their progress, align their efforts with
organizational objectives, and feel supported in their professional development.
RBC ensures that employees have a voice, feel supported in their growth, and are part of a cohesive and
respectful work culture.

Recommendations
To enhance its diversity initiatives, RBC should foster an inclusive culture throughout the organization,
with leadership actively supporting diversity and inclusion efforts. This can be achieved through effective
communication, training, and accountability. RBC can implement unconscious bias training for all
employees, ensuring that they are aware of and equipped to address their biases, establish mentorship
programs that pair individuals from underrepresented groups with experienced leaders, fostering
opportunities for professional growth and advancement. Additionally, implementing a diverse interview
panel and diverse selection committees can help ensure fair and unbiased hiring and promotion
processes.
For motivation practices, RBC can personalize its strategies by understanding individual employees'
goals and preferences, providing targeted opportunities for growth and recognition. Moreover, fostering
a culture of innovation and empowerment can boost motivation. RBC can encourage creativity, risk-
taking, and employee participation in decision-making processes, allowing employees to contribute their
ideas and have ownership over their work.
Implementing these recommendations would strengthen RBC's diversity initiatives and motivation
practices, creating an inclusive and motivating work environment that attracts and retains diverse talent
while driving employee engagement and performance.

Personal Reflections
I realized the importance of diversity in the workplace through researching RBC’s diversity initiatives. I
learned about the benefits that diversity brings, such as increased creativity, job satisfaction,
performance, innovation, and better decision-making.
By examining the motivation practices of the selected organization, I discovered the factors that
contribute to employee motivation. It became clear to me how competitive compensation, recognition
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programs, career development opportunities, and work-life balance initiatives play a significant role in
driving employee engagement and satisfaction.
While evaluating the effectiveness of the organization's diversity initiatives, I identified areas where
improvements could be made. This process provided insights into the challenges organizations face in
achieving equal representation, addressing unconscious biases, and fostering an inclusive culture.

RESOURCE CITATIONS
ABC