Synchrony

Rising up from No. 20 on the list this year, Synchrony, one of the largest U.S. issuers of store-branded credit cards, has continued to spur efforts in building workplace belonging and making tangible moves forward in diversity, equity, and inclusion. Focusing on changes in leadership, Synchrony upped its Black and Hispanic employee representation at the vice president level and above; the company offers 30 leadership courses to all workers as well. The Synchrony Women’s Leadership Experience program, in particular, has helped female staff at the VP level break the glass ceiling: Almost half of the program’s participants have been promoted since its 2018 inception. The company has partnerships with Moms First, the Executive Leadership Council, and the Latinx Executive Alliance, among others.  The company plans to invest $50 million in a five-year Education as an Equalizer initiative, with $20 million of the sum to be invested in grants for educational and skills-building opportunities for low-income and underrepresented students and individuals. 

• Synchrony recently revamped its performance evaluation process, scrapping ratings altogether and substituting a single review in favor of three formal conversations throughout the year, although managers are encouraged to hold them more often.


• Twenty-one of Synchrony’s 24 leadership development programs are available to anyone at the company regardless of their level.


• The tuition reimbursement program pays up to $24,000 per year in tuition costs and academic fees for full-time employees.


• In 2022, Synchrony launched its new sabbatical and employee balance programs. The former allows employees to take from one month to a year off from work while still receiving a base salary to cover their benefits, while the latter allows them to work only 20 hours a week for an agreed upon time frame also with benefits.


• In April 2022, Synchrony unveiled the 10,500-square-foot Synchrony Skills Academy in Stamford, Conn., where high school and adult learners can be trained in digital skills.

Employees say:

“Senior leadership has an excellent finger on the pulse of their workers. They go above and beyond daily to ensure that everyone feels included and is heard. They always make time for their employees regardless of pay level.”

Employees say:

“I can honestly say that Synchrony gives back more to the community and embraces diversity more than any other company I have worked for. I feel I am very welcome here and I feel the ELT does a great job of making others feel this way too.”

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