Work-Life Flexibility Propels Synchrony to be
Named Top 5 Best Company to Work For in the U.S.
94% of U.S. Employees Say Synchrony is a Great
Place to Work
STAMFORD, Conn., April 4,
2024 /PRNewswire/ -- For the seventh straight year,
Synchrony (NYSE: SYF) is proud to be named among the top Best
Companies to Work For® list in the U.S. by Fortune magazine
and Great Place to Work®. The 2024 rankings, which saw Synchrony
move up 15 positions to number 5, reflects the company's unwavering
commitment to putting people first.
"This recognition is a testament to our
unique approach and the people who power it." - Synchrony CEO
Brian Doubles
"I'm so proud of the inclusive, value-led culture we've
cultivated over the last decade," says Brian Doubles, President
& CEO of Synchrony. "This recognition from Fortune and
Great Place to Work is a testament to our unique approach and
the people who power it."
"When people ask about what sets the Best Companies apart from
their competitors, it's one key ingredient: trust," says
Michael C. Bush, CEO of Great
Place To Work. "When employees trust their leaders, their
colleagues, and the organization, they become empowered to reach
their full potential. High-trust workplaces will be faster to
innovate, more resilient in the face of disruption, and more likely
to succeed in today's rapidly changing, AI-integrating world."
In the most recent Great Place to Work U.S. employee survey, 94%
of Synchrony employees say that Synchrony is a great place to work
(compared to 57% at a typical U.S. company), 93% say that the
company's way of working gives them the flexibility they need and
94% say that Synchrony offers unique benefits, with the employee
experience consistent across gender and race and across hourly
employees and caregivers.
"We have radically rethought the traditional ways of working and
supporting our employees to thrive in a hybrid environment," says
DJ Casto, Executive Vice President and Chief Human Resources
Officer at Synchrony. "We are proud of our strong focus on
workplace flexibility -- a focus that has been key to strengthening
our culture, delivering greater business growth, and making life
more rewarding for all."
Synchrony makes listening, testing, and learning a consistent
part of its approach to designing programs and initiatives together
with employees:
- Flexibility and purposeful connections: The company
continues to provide flexibility and choice, allowing employees to
work from home, in the office, or both and offering flexible work
options to better support hourly employees. Synchrony has
reimagined its workspaces, designing multipurpose spaces that adapt
to meet diverse workforce needs in a hybrid work environment. A
majority of employees have connected in-person at least quarterly
for business activities, networking events and skills training over
the past year.
- Total wellness and progressive benefits: Synchrony
offers robust well-being benefits, including wellness tools
integrated into people's daily workflow, 19 diverse well-being
coaches, a sabbatical program, career coaches and financial
wellness counseling. The company provides 22 weeks of paid
maternity leave for birthing parents, 12 weeks of paid parental
leave for all new parents, up to 60 days of backup childcare and
eldercare benefits and enhanced family planning benefits.
- Training leaders to lead differently: Synchrony is
investing in its top leaders through a year-long development
program to accelerate team performance, unlock innovation and drive
strong business outcomes. Synchrony's performance management model
encourages more manager-employee discussions, with 91% of employees
saying they received clear performance expectations in ongoing
coaching conversations.
- Advancing equity, diversity and inclusion: Synchrony
hosts the Global Diversity Experience, an annual three-day event
that brings together employees, leaders, and members of Synchrony's
Board of Directors to advance a culture of equity, diversity and
inclusion. More than half of our workforce (over 9,500 employees)
belong to one or more of our eight Diversity Networks+. The
company's Mosaic Leadership Institute provides immersive programs
to support development opportunities for all.
- Pay equity and industry-leading wages: Synchrony
continues to maintain 100% pay equity across genders and
racial/ethnic groups. U.S. hourly employees receive over
$20 per hour minimum wage. Synchrony
has paid hourly frontline associates bonuses every year since
launching its performance plus bonus program. The company also paid
a special one-time bonus in 2023 for full-time hourly employees to
help alleviate the impacts of inflation.
- Skills training and education: The company offers
industry-leading skills tuition benefits and debt-free tuition
options of up to $24,000 annually, up
to $9,000 per year for technology
certifications, and career development training like the Tech
Apprenticeship and Veterans Leadership programs that prepare
individuals with nontraditional backgrounds (including contact
center associates and military veterans) for fast-growing AI and
cybersecurity roles. Many early career professionals face the
challenge of balancing their student loans and their retirement
savings. Synchrony also offers 401(k) matches for employees who
make qualifying payments on their student loans.
Hear from employees about their own experiences at
Synchrony:
https://www.synchronycareers.com/life-at-synchrony/
About the Fortune 100 Best Companies to Work
For
Great Place To Work selected the 100 Best list by
gathering and analyzing more than 1.3 million confidential survey
responses representing the experiences of 8.2 million U.S.
employees. Organizations are assessed on their efforts to create
generous, supportive, high-performance work experiences for every
employee in the organization. Companies must be Great Place To Work
Certified™ with 1,000 or more employees in the U.S. and cannot be a
government agency. Read the full methodology. To be considered, all
companies use the Great Place To Work Trust Index™ survey.
About Synchrony
Synchrony (NYSE: SYF) is a
premier consumer financial services company delivering one of the
industry's most complete digitally-enabled product suites. Our
experience, expertise and scale encompass a broad spectrum of
industries including digital, health and wellness, retail,
telecommunications, home, auto, outdoor, pet and more. We have an
established and diverse group of national and regional retailers,
local merchants, manufacturers, buying groups, industry
associations and healthcare service providers, which we refer to as
our "partners." We connect our partners and consumers through our
dynamic financial ecosystem and provide them with a diverse set of
financing solutions and innovative digital capabilities to address
their specific needs and deliver seamless, omnichannel experiences.
We offer the right financing products to the right customers in
their channel of choice. For more information, visit
www.synchrony.com.
Media Contact:
Angie
Hu
Synchrony
Angie.Hu@syf.com
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SOURCE Synchrony Financial