The growing demand for employee discounts has seen a rapid widespread across the world. With the increasing expectations for employee discounts, various companies have started offering plenty of employee benefits as well. Royal Bank of Canada, abbreviated as RBC, is a Canadian financial service company that serves a myriad amount of people. Furthermore, RBC offers a diverse range of employee discounts to its employees. Let us know about that the RBC Employee Discount.
RBC Employee Discount
RBC provides a 20% discount on car insurance, 10% on home insurance, and some coverage under the multi-vehicle policy and multi-policy (home and car). One can enjoy the employee perks (discounts and other benefits) only if they are eligible for the particular benefit. For example, one must be employed at RBC for at least six months to qualify for the eligibility criteria to benefit from employee benefits. RBC makes the employee aware of their insurance, benefits, and savings and helps them unrestrictedly choose the best for them.
Along with the employee discount, the multinational financial service company, RBC, also provides other benefits. These benefits are stated as follows:
- Perkopolis discounts and BestBuy discounts
- Phone plans
- Paid sick leaves
- Medical and dental plans
- Employee personal banking account
- Group pension plans
- Benefits right from day one
Perkopolis Discounts and BestBuy Discounts
The Royal Bank of Canada provides discount codes to its employees through which the employees can save up to 15% at least. Many other personalized discounts are offered by RBC to its employees. RBC has a structured point system that can be used by the employees to get a significant amount of off for purchases at BestBuy. An individual has to redeem these points to save some money for travel, gift cards, and many more.
Phone Plans
There is an eligibility criterion that an individual needs to qualify for to enjoy a considerable amount of off on certain data plans. RBC employees get free access to education/training via videos usually. After retirement, RBC offers a program called Rogers Preferred Program. Under this program, the employee gets free access to an eclectic range of phone plans.
Annual Incentive
Under an Incentive Program facilitated by RBC, the employee is subjected to receive a bonus at the end of the year based on his/her performance throughout the year. Generally, the employees also receive compensation depending on eligibility. RBC is supportive of its employees’ growth and learning more than anything else. Thus, they also provide LTI programs, long term incentive programs, which ultimately provide a spectrum of benefits.
Medical and Dental Plans
RBC provides medical and dental group/individual plans not only to the employee but also to the employee’s family since day one. These plans also cover mental health, vision insurance, life insurance, accident insurance, short-term and long-term income protection, and disability insurance while simultaneously working on meeting the needs of employees. There is a 24-hour active EmployeeCare program as well which provides a wide range of solutions and explanations to various issues regarding health and wellness.
Employee Personal Bank Account
The majority of RBC employees receive the opportunity to work hard and acquire a variety of benefits. The employees at RBC receive the perk of having an employee bank account with unlimited cheques for free. The employees can thoroughly enjoy the benefit by crediting RBC payroll on their own. RBC makes sure that all workers are treated with equanimity despite the presence of wide diversity and as well as helps the employee to expand their knowledge. These minor, as well as major perks, are a medium to make feel employees secure and optimistic.
Group Pension Plans
With their excellent service in operating several programs, RBC not only provides a range of such programs but also optimizes plans based on the employees’ situation and necessities. Their zest for their employees’ and clients’ success makes them a successful financial service bank. Programs like GRSP (Group Retirement Savings Plan), RPP (Registered Pension Plan), etc. have enormously increased the retention rate of employees. It also helps an individual to expand their network and exposure.
Benefits Right From Day One
Medical and dental benefits are some of the perquisites that are presented to the employee from day one along with some other minor perks. RBC also furnishes paid sick leaves to its employees. Although these benefits may seem elementary and common, the fact that an employee can reap these benefits from the very first day of their work is remarkable. At RBC, an individual can relish the indulgence of some benefits without having to wait for a specific period (eligibility standards).
Some Other Employee Benefits
Some other employee benefits of working at RBC are mentioned below:
- Paid sick leaves
- Good atmosphere
- Congenial staff and co-workers
- Paid holidays
- Flexible work hours
- Sharpen skills
- Enhance proficiency and expand knowledge in work
- An assortment of programs
- Excellent management
- Job security
- Admirable work culture
Conclusion
The Royal Bank of Canada, RBC, provides a discount on car insurance (20%), home insurance (10%), BestBuy and Perkopolis (10-20%), discount on phone plans along with a wide spectrum of plans and programs designed for the benefit of its employees depending on eligibility criteria, experience, and needs. With the given perquisites of holding a job at RBC, the job becomes easy to deal with, morale and confidence are boosted and work productivity sharply increases. The bank has approximately half a million employees working for them across the world. Considerably, the number of employees is likely to increase in the upcoming years.
Frequently Asked Questions
- Does RBC give bonuses?
Answer 1: Yes, RBC gives a bonus to its employees depending on their performance. The bonus wages may vary for different employees. They have a strict policy called “pay for performance” and a few sets of principles based upon which the compensation differs for everyone. Nonetheless, the average bonus may lie between 8-10% of an employee’s wages.
- Does RBC offer a wellness program?
Answer 2: Yes, RBC offers some wellness programs. They also have a digital wellness program which displays their concern for their employees. They always put the employees’ best interest and their health and wellness as the priority.
