STAMFORD, Conn., Sept. 16, 2020 /PRNewswire/ -- Synchrony announced that the company has earned a spot on Working Mother's annual list of the 2020 100 Best Companies. The 2020 list recognizes companies for inclusive benefits for working families, including gender-neutral parental leave and accessible, affordable childcare. Synchrony was also named among the top 85 organizations on Working Mother's third annual list of the "Best Companies for Dads," leading in the areas of paternity leave, childcare, flexible schedules and more.
"Cultivating a culture of caring is core to who we are at Synchrony and we are honored to be recognized by Working Mother," said DJ Casto, Executive Vice President and Chief Human Resources Officer at Synchrony. "As working parents and caregivers face unprecedented challenges, it's critical that we provide inclusive, progressive benefits to help families succeed both at home and at work."
"Our 100 Best Companies are the standard of excellence and continue to pave the way with the work they are doing on behalf of working parents and caregivers in the US," says Subha Barry, president of Working Mother Media. "These companies were well ahead of the curve when it came to supporting their employees during this time of vast change with their family-friendly policies already in place. We celebrate their efforts and applaud them for addressing the needs of this important and ever-growing sector of talent."
Providing benefits for working families
Starting in 2020, Synchrony increased benefits for working families, offering paid parental leave for 12 weeks and with the onset of the pandemic, extending backup care benefits to 60 days for emergency care for children and seniors (and more if needed on an individual basis). The company continues to evolve its industry-leading benefits programs based on employees feedback, increasing its lifetime maximum fertility benefit to $30,000.
Supporting working parents and children through virtual learning
To help working parents, Synchrony will launch an afterschool program later this month (Synchrony After School) which will provide virtual tutoring, homework club, extracurricular activities and wellness support, following the successful launch of Synchrony Summer Camp – a virtual experience for employees' children designed to educate, engage, and enrich across a range of topics including health, arts, culture and leadership.
Offering flexible work arrangements
Synchrony helps employees balance the demands of work and life by offering flexible work arrangements including reduced hours, compressed workweeks, flextime hours, job sharing, and remote work. To help employees meet their personal and professional needs, the company recently unveiled a new approach that combines flexibility for all employees, who can now work remotely, and purpose-driven office-based spaces where employees can come together in person when needed in a safe environment, staying connected with each other and our culture.
Developing and advancing women leaders
Synchrony provides training programs to help develop and advance women leaders at every stage of their career, including:
- Advancing Diverse Talent Leadership Institute – focuses on initiatives to support the professional development of diverse senior talent and to increase the leadership pipeline.
- Leadership Experience for Accelerated Development (LEAD) – Synchrony's first companywide, immersive leadership development program for high potential women, offered in partnership with Linkage's Women in Leadership Institute, focused on skills building through cross-functional business projects.
- Business Leadership Program (BLP) – a two-year, three-rotation leadership program spanning diverse functional tracks for recent undergraduates and graduates that enable them to build deep, functional expertise while developing broad-based business acumen.
- Skills Training for Evolving Professionals (STEP) – This nine-month training program helps Synchrony's call centers and administrative talent hone their management and tech skills. Participants gain valuable experience through special projects and in-role developmental activities.
About The Methodology For Working Mother's 100 Best Companies
The 2020 Working Mother 100 Best Companies application includes more than 400 questions on leave policies, workforce representation, benefits, childcare, advancement programs, flexibility and more. It surveys the availability and usage of these programs, as well as the accountability of the many managers who oversee them. All applicants receive feedback showing how they compare with other applicants; however, the names of applicants that do not make the list are kept confidential. Company profiles and data come from submitted applications and reflect 2019 data.
About The Methodology For Best Companies For Dads
This year, for the first time, the Best Companies for Dads was offered to companies as a separate initiative for which they had to apply. The previous two years, Working Mother Research Institute had pulled out responses pertaining to dads from the 100 Best Companies application. The organizations listed here received the highest numbers of points in the survey about dads, which included questions on parental leave, childcare, adoption leave, fertility benefits and employee-resource groups for men and working parents.
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers.
Synchrony is changing what's possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions.
For more information, visit www.synchrony.com and Twitter: @Synchrony.
About Working Mother Media
Working Mother Media (WMM), a division of Bonnier Corp., publishes Working Mother magazine and its companion website, workingmother.com. The Working Mother Research Institute, the National Association for Female Executives, Diversity Best Practices and [email protected] are also units within WMM. WMM's mission is to serve as a champion of culture change, and Working Mother magazine is the only national magazine for career-committed mothers. Follow us on Facebook, Twitter, LinkedIn and Pinterest.