At Synchrony, our aim has always been to create a workplace and culture where people’s differences are not only accepted but valued. A culture where everybody can be their 100% authentic self. A culture where everybody feels they belong and are appreciated. A culture that was built on the foundation of our passion for diverse perspectives.
We have been committed to creating a space for further learning, driving accelerated action, and leading long-term change on behalf of all those who are under-represented, marginalized or discriminated against, while promoting increased inclusion through open, honest conversations. Together, we will continue our journey to drive equity for our employees, their families, and the communities we serve.
“At Synchrony, we recognize and respect the diversity of background and thought that makes up our organization. We are committed to our values, we acknowledge our opportunities, and we expect D&I to be everyone’s responsibility. True diversity and inclusion occurs in an environment where every experience, perspective and opinion are not the same as yours, but everyone chooses to intentionally walk together.”
– Michael Matthews
Chief Diversity and Corporate Responsibility Officer
OUR STORY BEGINS AT THE TOP. SINCE OUR INCEPTION, OUR EXECUTIVE LEADERSHIP TEAM HAS SOUGHT TO INFUSE THE POWER OF DIVERSITY, INCLUSION AND ACCEPTANCE INTO EVERY PART OF SYNCHRONY. HERE ARE SOME OF THE WAYS WE’RE DOING THAT.
Synchrony is strengthening our pipeline of diverse talent. Through our DIVERSITY NETWORKS, we have established and expanded partnerships with multiple universities— including Historically Black Colleges and Universities (HBCUs) including NORTH CAROLINA A&T STATE UNIVERSITY, HOWARD UNIVERSITY AND FLORIDA A&M UNIVERSITY with AAN+, UNIVERSITY OF PUERTO RICO AND ALPFA with HN+, OUT FOR UNDERGRAD (O4U) with our LGBT+N. These partnerships support campus recruiting, student development programming and scholarships. With multiple Synchrony leaders serving in advisory capacities, we lend corporate perspective to our higher education partners, while providing programming for the next generation of leaders of all backgrounds.
Our Diversity Networks+ also participate in internships, mentorships, and immersion programs targeting the earlier talent pipeline. The Synchrony Advance Scholarship program provides diverse college sophomores with financial assistance and a six-month mentoring program with Synchrony leaders. Our Sophomore Externship is a four-day on-the-job experience designed for rising juniors.
Additionally, partnerships with organizations such as DISABILITY:IN, GIRLS WHO CODE, THE ASIA SOCIETY, AMERICAN INDIGENOUS BUSINESS LEADERS (AIBL) and more allow us to lead unique hiring initiatives for all diverse populations.
AS A VALUES-BASED ORGANIZATION, WE HAVE INCREASED OUR COMMITMENT TO ADDRESSING DEEPLY ROOTED GENDER AND RACIAL INEQUALITY WITHIN THE COMMUNITIES WE SERVE. OUR NEW EDUCATION AS ANEQUALIZER INTIATIVE WILL INVEST $50 MILLION TO EXPAND ACCESS TO HIGHER EDUCATION, SKILLS TRAINING AND FINANCIAL KNOWLEDGE
Synchrony and the Synchrony Foundation announced a commitment of $5 million to support national nonprofit organizations working to bring about social justice, combat systemic racism and make a difference in the lives of Black Americans, and $5 million to support COVID-19 relief efforts.
Synchrony will donate a total of $1 MILLION to organizations dedicated to supporting social justice, historically Black colleges & universities, civic engagement and criminal justice reform, chosen in collaboration with the company’s African American Network+. These organizations and institutions include THURGOOD MARSHALL COLLEGE FUND, NATIONAL URBAN LEAGUE, and EQUAL JUSTICE INITIATIVE. North Carolina A&T State University, University of Arkansas at Pine Bluff, and Tuskegee University; REHABILITATION ENABLES DREAMS, and the INNOCENCE PROJECT.
The company will commit the remaining $4 MILLION to support organizations focused on addressing issues that disproportionately impact the Black community over the next four years.
WE ARE COMMITTED TO GROWING BUSINESS PARTNERSHIPS WITH DIVERSE SUPPLIERS, CLIENTS, SMALL BUSINESSES AND ENTREPRENEURS, WHILE SEEKING NEW WAYS TO DRIVE FINANCIAL INCLUSION FOR CONSUMERS.
Synchrony Ventures backs early-stage entrepreneurs who share this vision of empowering people to reach high and to do so with confidence. We focus on early stage start-ups serving the U.S. market. We look for technologies and teams to help us better serve our customers and challenge us to continue innovating. We will continue to invest in and support businesses with diverse founders and that serve diverse communities.
In May 2021, we announced our commitment of $15 million to venture capital funds led by Black, Latinx, and female investing partners
Through the SYNCHRONY FOUNDATION, we are supporting national community organizations that help small businesses. $2 million was granted to LOCAL INITIATIVES SUPPORT CORPORATION (LISC), a national community development organization, which will provide emergency grants to minority- and women-owned businesses in underserved communities. To date, over 138 small business owners – 76% minority, 53% Black, and 67% Women - have received a total of $1,275,000 in grants plus technical assistance.