Worker turnover is a serious problem in many industries. We chose to focus our attention on the financial industry, more specifically on the Royal Bank. In our report we will address this problem analyzing data we collected from surveys, interviews and observations made at three different Royal Bank branches in the west island. From the data, we found several possible alternatives could be implemented to reduce the amount of turnover and increase morale. They are:.
• Flexible work arrangements.
• Self managed work groups.
• Employee advancement programs.
• Improved benefits & rewards.
Each of these will be addressed and analyzed to determine the feasibility and possible drawbacks of implementation.
Company Overview.
Royal Bank of Canada (RBC) is a financial services organization that operates in North America, primarily in Canada, and internationally, primarily in the United States. In Canada, the Company offers personal and commercial banking products. In wealth management, it has private banking, full-service brokerage and mutual fund operations, and owns a self-directed broker, Action Direct. In corporate and investment banking, RBC is a securities underwriter and a mergers and acquisitions (M&A) advisor. It also offers travel insurance and creditor products. The Company operates more than 1,300 branches and over 4,200 banking machines. Internationally, RBC provides personal and commercial banking, mortgage origination, insurance, full-service brokerage and corporate and investment banking services through RBC Centura, RBC Prism Mortgage, RBC Liberty Insurance, RBC Dain Rauscher and RBC Capital Markets .
Nature of the Work.
The bank teller is the person most people associate with a bank. Among their responsibilities include cashing checks, accepting deposits and loan payments, and processing withdrawals. They may also sell savings bonds, accept payments for customers" utility bills and credit cards.
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