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Royal Bank (IL)

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High Turnover - Anonymous employee Royal Bank (IL) Employee Review

1.0
1 July 2018
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Many of the employees were great to work with.

Cons

High turn over. This bank creates silly reasons to push employees out. Too many reasons to name, but the one that many employees weren’t happy about is the recent policy, that you must have an account at this bank to get your bonus or raise. The bank refuses to deposit your bonus or even get a raise if you do not have an account at this bank. There was a huge project in December around Christmas time and the bank president specifically stated everyone involved would receive a bonus. Employees changed their Christmas plans, had to make babysitting arrangements and lost precious time with family during the Christmas holiday. Employees had to work 80+/week the week of Christmas and the week after Christmas. After it was done, the President sent an email stating no one gets the bonus unless you have a bank account at Royal Bank. People that did not have an account, lost their bonus. From what I heard, some employees did not receive the bonus. This new policy was told to employees after the project was completed. That was very underhanded for the president to do, considering many employees changed plans during a big holiday. Many employees were forced to open an account just to get the bonus. A current employee told me that the President wrote an email stating it was unacceptable to open a bank account for the sole purpose of receiving the bonus, then leaving 1.00 in the account. I guess we can’t even spend our own money. He also noted that all paychecks should be deposited into a Royal Bank account and NO other bank.

Explore other reviews about Royal Bank (IL)

1.0
22 Feb 2021
Recommend
CEO approval
Business outlook

Pros

Coworkers were nice and helpful

Cons

Worst company to work for

1.0
29 Dec 2017
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

It paid more than my last job. That is about all this job has to offer me in terms of pros.

Cons

Management is constantly sniping at you to do pointless projects in hopes of bringing in more customers, then blaming you when those plans don’t work. They make all sorts of changes to the bank that drives customers off, but when they close their accounts they blame it on bad customer service. They also don’t seem to understand their customer base (mostly middle age to elderly people that have been with he bank for decades) and would rather put more energy into hassling our old customers than figuring out feasible ways to bring in new customers. They don’t offer competitive rates (though they like to tell themselves that they do) but are somehow surprised when customers leave. All of this leads to them blaming the bankers and making our lives hell with ineffective busy work and lose threats of termination, and they do this so much that no one cares if they do make through on their threats. Also, we got no Christmas bonus this year, and the president said we might either get it in January or possibly June. At this point I don’t think we’ll see it at all, but they’ll still wonder why no one is helping them out.

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