As you may recall, in September of 2006, RBC Group Financial Services conducted a survey to better understand what is important to plan sponsors such as yourself, and how RBC group plans are measuring up.
We are delighted that 368 of you took the time to respond to the electronic survey. As part of our commitment to continuous improvement, the survey gives us important direction regarding where we can focus our efforts to better serve your needs. Here is a short summary of the key findings from the fall survey.
In terms of the overall rating of RBC Group Plans, by far the majority of sponsors, 86%, indicated that they are satisfied with their group plan, with 46% very or extremely satisfied. While this is very encouraging feedback, the survey also identified some specific areas in which we will be working to create an even stronger sponsor experience going forward.
These areas are:
CAP Guidelines: RBC Group Plans do meet CAP guidelines. The survey, however, indicates that from 32% to 44% of sponsors are still not completely sure how RBC meets each of the requirements.
You will notice more information available from RBC on this topic in the period ahead.
Online reports and remittance: More than 50% of sponsors indicate that online remittance and reporting is critically or very important to them.
Work has already begun to improve and upgrade the RBC Sponsor website to make it more convenient and more useful to you.
Relationship management and servicing: Timely response to phone calls, questions and other issues are the most important drivers of satisfaction for more than 80% of sponsors.
We are proud of our servicing model and are always looking for ways to improve. We are taking steps to further enhance our response times to provide you with the best experience possible.
We’d like to thank everyone who took part in the survey. We greatly appreciate your feedback. It helps us to understand the areas that you feel are most important to the administration of your plan and lets us improve upon the services and support that you receive.
