SYNCHRONY RECOGNIZED FOR ITS PEOPLE-CENTRIC CULTURE WITH NEW COMPANY RANKING

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Apr 04, 2024, 08:38 ET

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.

Hear from employees about their own experiences at Synchrony.

Synchrony’s recognition as a Top 5 Best Company to Work For in the U.S. reflects the company’s unwavering commitment to putting people first and being a responsible and trusted employer, partner and member of the communities where we work and live. (Photo credit: Synchrony)

"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
[email protected]

SOURCE Synchrony Financial