Synchrony Joins Coalition to Hire One Million Black Americans in 10 Years

Rhea-AI Summary

Synchrony announced its participation in OneTen, a coalition aimed at training, hiring, and promoting one million Black individuals into sustainable jobs over the next decade. This initiative focuses on enhancing racial and economic justice by addressing exclusionary hiring practices and creating equitable career pathways. Synchrony emphasizes its commitment to diversity and inclusion, incorporating these values into its corporate strategy with a task force aimed at workforce development, financial growth, and social reform.

Positive

• Synchrony joins OneTen to foster diversity and inclusion in hiring practices.
• The initiative aims to train and promote one million Black individuals over ten years, enhancing community engagement.

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• None.

STAMFORD, Conn., April 20, 2021 /PRNewswire/ -- Synchrony announced today its participation in OneTen, a coalition of leading and former CEOs and companies that will train, hire and advance one million Black Individuals into family-sustaining American jobs over the next decade.

The OneTen coalition leverages leading executives and employers across industries to make a meaningful, measurable and lasting systemic impact on racial and economic justice and to create a more equitable society.

OneTen will work with employers, education partners and skills-credentialing partners to design educational and employment solutions. Together, these partners will develop, retain and advance diverse and underrepresented talent with an explicit commitment to hire or promote Black talent without four-year degrees. OneTen and its member employers' role in the talent ecosystem will be national, regional and local, reflecting the workforce development landscape, and focus on reducing exclusionary hiring practices, identifying robust and new talent sources, and ensuring that adequate and equitable career pathways for advancement exist.

Synchrony's participation in OneTen is part of the company's ongoing commitment toward building a more just and equitable society.

"Diversity and inclusion are foundational to who we are," said DJ Casto, Executive Vice President and Chief Human Resources Officer at Synchrony. "Yet, despite our achievements, we know there is more to be done to realize true equity and inclusion in our workplace and in our communities. We look forward to working with other corporate leaders in the OneTen coalition to drive meaningful, long-term progress."

Diversity & Inclusion at Synchrony 

In 2020, Synchrony elevated diversity and inclusion to one of the company's eight corporate strategic imperatives, with Board-level accountability, and launched a senior-level diversity and inclusion task force focused on the following three areas:

1. Workforce Development and Inclusion: Increasing diverse employee talent at all levels of the workforce and strengthening our culture of inclusion.
2. Financial Growth and Wellness: Advancing financial opportunities, growth and wellness among diverse communities and businesses.
3. Racial Equality and Social Reform: Increasing our commitment to addressing deeply rooted gender and racial inequality and disparities within the communities we serve.

You can read about the actions we have taken across each pillar here. 

About Synchrony

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 OneTen
OneTen is a coalition of leading chief executives and their companies who are coming together to upskill, hire and promote one million Black Individuals over the next 10 years who do not yet have a four-year degree into family-sustaining jobs with opportunities for advancement. We connect employers with talent partners, leading non-profits and other skill-credentialing organizations who support development of diverse talent. By creating more equitable and inclusive workforces, we believe we can reach our full potential as a nation of united citizens. Join us at OneTen.org.

Media Contact
Angie Hu
angie.hu@syf.com

 

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SOURCE Synchrony

FAQ

What is Synchrony's role in the OneTen coalition?

Synchrony is participating in the OneTen coalition to help train, hire, and promote one million Black individuals into family-sustaining jobs over the next decade.

What are the goals of the OneTen initiative announced by Synchrony?

The goal of the OneTen initiative is to train, hire, and advance one million Black individuals without four-year degrees into sustainable jobs over the next ten years.

When did Synchrony announce its participation in OneTen?

Synchrony announced its participation in the OneTen coalition on April 20, 2021.

How does Synchrony plan to enhance diversity and inclusion?

Synchrony's strategy includes a dedicated task force focused on workforce development, financial growth, and addressing racial equality.

What is the stock symbol for Synchrony?

The stock symbol for Synchrony is SYF.