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Monday, January 29, 2024

RBC seems to be past Toronto for tech hires in tight labor market

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Royal Financial institution of Canada is increase know-how facilities throughout Canada, past its Toronto headquarters, to assist entice expert staff 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 staff by the top of subsequent 12 months. The middle, with about 65 staffers, opened in September as a hub for tech technique and analysis, innovation, information and synthetic intelligence, site-reliability engineering and automation, with some full-stack software program staff based mostly 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 staff 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 greatest tech expertise at a time of heightened competitors, mentioned Emily Mercier, chief working officer for Royal Financial institution’s know-how and operations division.

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

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

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

Even amid a darkening financial outlook and job cuts at startups and crypto corporations reminiscent of Coinbase World Inc. and BlockFi Inc., Mercier mentioned the marketplace for tech expertise remains to be scorching and she or he doesn’t see it cooling quickly. Whereas the broader market might ultimately soften, demand for tech staff is a long-term pattern, and Royal Financial institution will at all times be concerned about these abilities, she mentioned.

“Constructing the digital financial institution of the long run requires us to have a really robust bench energy of tech expertise,” Mercier mentioned. “So even when there are some adjustments 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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