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Synchrony Raises U.S. Minimum Hourly Wage to $20

Synchrony Raises U.S. Minimum Hourly Wage to $20
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Stamford, Connecticut.And July 13, 2021 /PRNewswire/ — Reinforcing its commitment to a culture of care and providing its employees with competitive pay and progressive benefits, Synchrony (NYSE: SYF) announced today that it will raise its minimum wage to $20 per hour for all hourly employees in the United States and Puerto Rico, effective in August.

New Minimum Hourly Wage at Synchrony Adult $20 It will benefit more than 5,000 full-time and part-time employees. The company has also committed to funding a bonus program for 2021 so that full-time, hourly employees are eligible for 1000 dollars bonus.

“Companies have a responsibility to their communities and their employees. Our people are the heart of our business and our success,” said Brian Dobles, President and CEO of Synchrony. “We offer one of the most competitive pay and benefits programs to attract and retain the best talent. These investments allow us to remain an employer of choice now and in the future.”

Concurrency continues to expand and develop its incremental benefits, including:

  • Offering maximum flexibility: Synchrony offers industry-leading flexibility benefits to its hourly U.S. partners, including the ability to work from home after a pandemic while staying connected through purpose-oriented culture and personal synchronization events. The company offers reduced hours, compressed work weeks, and flexible vacation options to help employees balance their personal and professional needs.
  • Supporting working families: Since 2020, Synchrony has increased benefits for working families, offering 12 weeks of paid parental leave and lifetime maximum fertility benefits of up to 12 weeks. 30 thousand dollars. With the onset of the pandemic and into 2021, Synchrony extended emergency assistance for backup care for children and seniors to 25 days and introduced improved offset for child care for up to 60 days. The company has also launched a virtual after-school education program as well as virtual summer experiences for employee children designed to educate and engage across a range of topics.
  • Delivering complete health benefits: To support employee health and wellness, Synchrony provides generous leave and leave programs, diverse wellness coaches, financial advisors, 401 K Matching and fitness compensation programs in addition to comprehensive health care (medical, dental, vision coverage) and life and disability insurance.
  • Employee Remuneration: For 2021, Synchrony has announced that it will fund its bounty program so hourly employees in the U.S. and Puerto Rico will be eligible for 1000 dollars Bonus (divided, for example, based on employment history and part-time schedules). In 2020, Synchrony guaranteed annual bonus programs (hourly employees earned an average performance bonus $750). The company has also offered a special bounty related to COVID-19 (500 dollars) Frontline Auxiliaries.
  • Building future skills: Synchrony offers industry-leading education benefits, providing full-time employees with up to $20,000 per year in reimbursement of tuition fees and up to 4000 dollars annually in academic fees to pursue undergraduate degrees in areas relevant to their work and in the high-demand areas of healthcare and education. In addition, the company offers up to $9,000 Annually to obtain technical degrees in rapidly growing fields such as cybersecurity, software engineering, and UX design. These programs help employees build essential skills in a rapidly changing world.

“At Synchrony our core values ​​and beliefs define our core values ​​and beliefs. A culture of care means continual investing in our employees and helping those around us,” said DJ Casto, Synchrony’s Executive Vice President and Director of Human Resources. “We’ve seen how engaged employees help drive superior customer experiences and ultimately drive strong business results. We are committed to providing comprehensive progressive benefits and flexibility to our employees.”

To learn more about Synchrony functions and benefits, please visit: https://www.synchronycareers.com

About Synchronization
Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, automotive, travel, health and pets. Synchrony enables our partners to increase sales and loyalty with consumers. We are one of the largest private branded credit card issuers in United State; We also offer co-branded products, installment loans and consumer financing products to small and medium-sized businesses, as well as healthcare providers.

Synchrony is transforming what’s possible with our digital capabilities, deep industry expertise, actionable data insights, a frictionless customer experience, and customized financing solutions.

For more information, visit www.synchrony.com and Twitter: Synchrony.

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Angie Ho
synchronization
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