Synchrony’s Work Policies Sets Itself Apart From Competitors

Synchrony Financial is going against the grain of the banking industry.

The bank recently began testing its reopening plans over the past few weeks by bringing in around 200 employees to its Stamford, Connecticut headquarters, as well as three other locations in the U.S.

This move greatly differs from its other competitors such as Goldman Sachs, which is bringing back as many of its employees as it can this summer.

The biggest difference is that Synchrony’s staffers have been told they will not be returning to the office five days a week.

“Our employees told us across the board they wanted a more flexible work arrangement,” said Brian Doubles, CEO of Synchrony. “A big part of this is how do you go about this in a way that’s inclusive?”

Moving forward, Synchrony will have three types of arrangements: virtual hubs, hoteling sites and a hybrid schedule.

Virtual hubs will be dedicated to employees working remotely permanently, hoteling sites will allow employees to book a desk when needed and the hybrid schedule will offer workers the option for assigned seating.

The company anticipates that around half of its staffers will work from hybrid offices, 30% will operate from the hoteling sites and one-fifth will transition to fully-remote positions.