RBC appears past Toronto for tech hires in tight labor market

Royal Financial institution of Canada is build up know-how facilities throughout Canada, past its Toronto headquarters, to assist entice expert employees in a decent labor market.

The financial institution’s present focus is on its Calgary innovation hub, the place it’s seeking to attain 300 workers by the tip of subsequent 12 months. The middle, with about 65 staffers, opened in September as a hub for tech technique and analysis, innovation, knowledge and synthetic intelligence, site-reliability engineering and automation, with some full-stack software program employees primarily based on the location as properly.

Royal Financial institution additionally has different tech facilities round Canada, together with a 200-person Montreal hub for cybersecurity, tech infrastructure and synthetic intelligence, and a middle in Halifax, Nova Scotia, with greater than 600 employees centered on tech help, machine studying and full-stack engineering. The hubs are a part of Royal Financial institution’s efforts to draw the nation’s finest tech expertise at a time of heightened competitors, stated Emily Mercier, chief working officer for Royal Financial institution’s know-how and operations division.

“The hub technique actually extends our attain,” Mercier stated in an interview. “Having individuals in additional areas in Canada permits us to diversify the placement of our providers, growing the breadth and depth of our expertise.”

Royal Financial institution Chief Govt Officer Dave McKay stated earlier this 12 months that the supply of employees — particularly expert technologists — was amongst his high issues for this 12 months. The lender, which has about 10,000 employees in know-how and operations worldwide, is on monitor to rent 2,000 tech employees total this 12 months and an analogous quantity subsequent 12 months, Mercier stated. That’s additionally about as many because it employed in 2021.

Royal Financial institution’s recruiting and retention pitch for these employees contains an engineering tradition that gives fixed studying alternatives, the possibility to work on cutting-edge applied sciences and work-life steadiness, Mercier stated. The financial institution additionally offers tech employees quite a lot of profession paths as a result of it reaches 17 million purchasers and has a number of international companies, she stated.

Even amid a darkening financial outlook and job cuts at startups and crypto corporations reminiscent of Coinbase International Inc. and BlockFi Inc., Mercier stated the marketplace for tech expertise continues to be sizzling and she or he doesn’t see it cooling quickly. Whereas the broader market could ultimately soften, demand for tech employees is a long-term development, and Royal Financial institution will all the time be concerned about these expertise, she stated.

“Constructing the digital financial institution of the long run requires us to have a really robust bench energy of tech expertise,” Mercier stated. “So even when there are some modifications in market circumstances within the brief time period, it’s not going to have an effect on our long-term method.”

–by Kevin Orland

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