Culture and Talent

How Synchrony is making WFH work when other FIs haven’t

  • When other institutions are mandating employees return to the office, Synchrony is sticking to its flexible workplace model. What strategies were instrumental in shaping its sustainable workplace model?
  • CEO Brian D. Doubles believes there are many approaches beyond mandating physical attendance to increase positive outcomes for his company. These approaches can influence both employee satisfaction and productivity.
close

Email a Friend

How Synchrony is making WFH work when other FIs haven’t

Jamie Dimon, known for his skepticism of bitcoin, also emerged as a critic of the WFH [work from home] policy last year. By April 2023, JPMorgan, followed by Bank of America and Goldman Sachs, officially changed its WFH policy, adopting a five-day-in-the-office setup.

Recently, Citi, HSBC’s New York office, and Barclays followed suit in getting their staff back in the office. Although these banks maintained some remote work flexibility post-pandemic, they are now revising their policies partly due to the looming reintroduction of pre-pandemic workplace monitoring rules by the Financial Industry Regulatory Authority [FINRA] in the coming months.

Banks find themselves at a crossroads as they assess the impact of impending regulations and reconsider their approach to remote work. Eliminating remote work options may negatively impact talent retention and acquisition efforts. On the other hand, Synchrony, a provider of white-label consumer credit offerings, is sticking to its flexible workplace model. The firm, not subject to FINRA oversight, is in fact solidifying remote work as a permanent arrangement.

CEO Brian D. Doubles believes there are many approaches beyond mandating physical attendance to increase positive outcomes for his company. These approaches, unrestricted by a rigid binary of right or wrong, can influence both employee satisfaction and productivity.

Synchrony’s workplace model

Synchrony has over 18,000 employees and provides consumer financing products, including credit cards, promotional financing, and loyalty programs. It also offers installment loans and FDIC-insured savings through its online subsidiary, Synchrony Bank.

Synchrony offers flexible work options, allowing employees to work from home, a Synchrony hub, or both. Hubs or physical office locations serve as bases for virtual and in-person connections.

“The future of work is flexible,” said DJ Casto, Executive VP and Chief Human Resources Officer at Synchrony.


subscription wall for TS Pro

0 comments on “How Synchrony is making WFH work when other FIs haven’t”

Day in the Life

“Don’t just do the work — represent the value of the work”: A day in the life of Bank of America’s CIO of data management technology, Michelle Boston

  • Bank of America’s CIO of data management technology, Michelle Boston, is a Latina who is, in her own words, “hooked on data”.
  • She is one of those hardcore techies that Hollywood usually chooses to represent as a backpack-slinging white male in a hoodie.
Rabab Ahsan | December 04, 2023
Culture and Talent

Gen Z covets careers in finance over any other industry

  • Gen Zers are now thinking about climbing the corporate ladder and finance is their preferred career choice.
  • Job stability is the top priority of Gen Z college graduates, followed closely by high paying salary.
Sara Khairi | August 25, 2023
Day in the Life

From hazardous material engineering to running Truist Foundry: A day in the life of Lindsay Holden, head of Truist Foundry

  • Many paths can lead to a career in financial services. Head of Truist Foundry, Lindsay Holden's journey began as a hazardous materials engineer.
  • Craving work that gave her more flexibility, Holden eyed entrepreneurship and eventually built Long Game, which was acquired by Truist last year and relaunched as Truist Long Game.
Rabab Ahsan | June 27, 2023
Day in the Life

Embracing unpredictability: A day in the life of Sung Hae Kim, Chief People Officer at Kueski

  • What’s it like working at the largest Mexican BNPL firm while living in the US?
  • From unpredictable workdays to outdoorsy weekends, here’s a day in the life of Sung Hae Kim, Chief People Officer at Kueski.
Ismail Umar | February 14, 2023
Banking, Culture and Talent

Bank branches are getting a facelift. What are smart branches?

  • From opening cafés to building community centers, bank branches are changing.
  • Big names like Capital One, Bank of America and JPMorgan may be spearheading the branches of the future.
Rabab Ahsan | February 02, 2023
More Articles