Synchrony Diversity and Inclusion

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.

Our commitment to diversity & inclusion is core to our culture. Check back here on our continued progress.

Michael Matthews

 “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

PEOPLE AND CULTURE

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.

#37
ON THE 2021 FORTUNE LIST OF 100 BEST U.S. COMPANIES TO WORK FOR

Recognition of our long-standing commitment to diversity and inclusion continue to ignite our passion for the journey forward.

A BALANCED BOARD OF DIRECTORS

Synchrony has one of the most diverse Board of Directors among commercial banks and diversified financials in the Fortune 200.* OF THE BOARD’S 12 DIRECTORS, FOUR ARE WOMEN, FOUR ARE MINORITIES AND ONE IS A VETERAN.

*Based on publicly available information as of February 24, 2022.

CELEBRATING DIVERSITY+

Diversity & Inclusion at Synchrony was built on the foundation of the action, passion and voice of our over 10,000 employees who are members of our 8 Diversity Networks+:

  • AFRICAN AMERICAN NETWORK+
  • ASIAN PROFESSIONAL ENGAGEMENT NETWORK+
  • HISPANIC NETWORK​+
  • LESBIAN, GAY, BISEXUAL, TRANSGENDER+ NETWORK 
  • NATIVE AMERICAN NETWORK+​
  • PEOPLE WITH DISABILITIES NETWORK+
  • VETERANS NETWORK+ 
  • WOMEN’S NETWORK +

We recognize and celebrate the diversity of our organization each day through programming, networking and an annual Global Diversity Symposium.

In 2017, we added the “+” to address the challenges and opportunities we face collectively. We encourage our employees to “Be the Plus,” inviting anyone to partner with or join any of our Diversity Networks+ to learn and understand the perspective of others, while collectively driving change.

ADVANCING DIVERSE TALENT

We value the different experiences and thinking diverse people bring to our business. As of December 31, 2021, our workforce in the United States was 46% NON-WHITE, 20% BLACK, 16% HISPANIC, 7% ASIAN AND GLOBALLY, 59% FEMALE.

In January 2020, we launched a new initiative called ADVANCING DIVERSE TALENT, which uses data and analytics to help identify our gaps. Our diverse talent strategy is designed to increase our focus on hiring, developing, and the progression of underrepresented minorities.

Annually, we will leverage workforce data analysis to align our focus areas to the biggest opportunity within our organization. In 2021, we will continue our focus on increasing Black and Hispanic employee representation at all levels of the company and, in particular, our vice president level and above. We will also expand this initiative to Asia.

In 2021, we joined OneTen Coalition and committed to hire or advance Black individuals with high school diplomas and other certifications into middle skill jobs.

SUPPORTING EMPLOYEES’ WELL-BEING

We recognize and understand the unique needs of our diverse employees, their families, and communities. We are committed to supporting the holistic wellness of all and develop programs and initiatives to promote the total well-being of our employees.  

As we continue to navigate the impact of COVID-19, our Diversity Networks+ advise our Total Well-Being Initiative, launched in May 2020 in honor of Mental Health Awareness Month. To prioritize creating a space where our employees can bring their best selves to work during this time, we host programming that encourages ongoing education of our benefits and offer holistic well-being support through a team of diverse wellness coaches.

With the COVID-19 vaccine widely available, there is still an opportunity to build vaccine confidence and uptake, specifically within diverse communities. We are continuing to provide employees with the information they need to make informed personal decisions, partnering with diverse medical professionals and thought leaders to create open conversations within our organization.

Synchrony is also a Founding Partner of the Ad Council’s Covid Collaborative Vaccine Education Initiative, a national assembly that has brought together leading experts and institutions across health, education and the economy to turn the tide on the pandemic. This consortium is encouraging vaccination against the virus through one of the largest public education campaigns in history.

INCREASING UNDERSTANDING AND AWARENESS

Synchrony events beginning in the second half of 2020 focused on elevating and driving understanding of diverse experiences and perspectives in the U.S. and around the globe.

  • Week of Solidarity: June 1-5, 2020: The horrific deaths of GEORGE FLOYD, BREONNA TAYLOR AND AHMAUD ARBERY, and the protests that followed were stark reminders that many in our Synchrony family are also facing pain and fear of injustice as Black Americans. Synchrony leadership established a Week of Solidarity, giving all employees the opportunity to engage in virtual conversations to better understand experiences of the Black community and offer meaningful help to our colleagues—today and every day.
  • Open Conversation Series: Together with our Diversity Networks+, diverse leaders in the company, and partners like Diversity Best Practices, we continue to lead open conversations for all employees to engage in ongoing listening and learning about communities that our workforce represents. Discussions around recent events of injustice and cultural education have been led by African American Network+, Asian Professional Engagement Network+, Native American Network+, and Women’s Network+.
  • Diverse Mental Wellness Coaches: To further support employees during our discussions around racial injustice and discrimination of any kind, we added programming with diverse mental health experts as part of Synchrony Assist, our employee assistance program. Today, our wellness coach team includes Black, Asian, Latinx, women and LGBTQ+ representation.

Virtual Diversity Experience: September 2020
In 2020, with the global pandemic going full throttle, we were unable to host our annual in-person Global Diversity Symposium. Instead, we went digital and launched our first Diversity Virtual Experience, allowing employees to engage in dynamic conversations and activities with Synchrony leadership, external speakers, and colleagues from around the globe.

Keynote speakers included DR. ROBIN DIANGELO, author of White Fragility: Why It’s So Hard for White People to Talk About Racism; DWYANE WADE, NBA all-star and author of A Father First: How My Life Became Bigger than Basketball; and JUJU CHANG, Emmy Award-winning co-anchor of ABC News’ Nightline who led an educational, insightful dialogue around The Myth of the Model Minority and its impact on the Asian American community.

SPOTTING POTENTIAL

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.    

CITIZENSHIP

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

$10M FOR SOCIAL JUSTICE AND EQUITY

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.

GROWTH AND INVESTMENT

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.

LONG-TERM INVESTMENT IN DIVERSE BUSINESSES

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

CASH WHERE IT’S NEEDED MOST  

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.

More information on Synchrony’s efforts toward diversity, culture and the communities in which we work and live can be found in our 2021 Environment, Social & Governance Report.