- Synchrony’s flexible work policy has significantly boosted inclusion and engagement across the company, with flexibility available to all employees, fostering a supportive environment.
- The company’s clear and permanent commitment to flexibility has made it an attractive employer, aiding in both recruiting and retaining talent amidst a competitive job market.
- Emphasizing flexibility has shifted the focus to outcome-driven performance, enabling employees to deliver measurable results while managing their personal lives effectively.
The conversation around flexible work models has shifted from a temporary solution during the pandemic to a long-term strategic approach. Synchrony, a leading financial services company, has been at the forefront of this shift and the benefits it provides. DJ Casto, Chief Human Resources Officer (CHRO) at Synchrony, offers a compelling narrative on how flexibility has enhanced inclusion, recruitment, and retention within the company in his interview with me.
Synchrony’s experience serves as a compelling case study for other organizations considering long-term flexible work policies.
A Swift Transition to Flexibility
Pre-pandemic, Synchrony adhered to a traditional office-based work model. However, the onset of COVID-19 necessitated a rapid transition. “About 86% of our workforce, when we pulsed them three months into the pandemic, indicated a preference for working from home,” Casto recalls.
This feedback was crucial in shaping Synchrony’s approach. Within three weeks, Synchrony had successfully transitioned its 20,000 global employees to remote work, a feat facilitated by their already digital-centric operations.
“We quickly realized that we were never going back to the traditional way,” says Casto. The positive response from employees and the seamless transition paved the way for Synchrony to embed flexibility into its long-term strategy.
The company’s current policy, established in September 2022, centers on flexibility and choice, with no mandated office days but an emphasis on purposeful in-person interactions when necessary.
The Individual vs. Team-Based Flexibility Model
One notable aspect of Synchrony’s flexible work policy is its individual-focused approach. Unlike many organizations that adopt team-based models, Synchrony empowers individual employees to decide when and if they need to come to the office. This decision was informed by extensive active listening sessions with employees.
“The diversity of our workforce came with a diversity of need,” Casto explains.
By allowing individuals to make their own decisions, Synchrony avoids placing the burden on frontline managers to coordinate collective in-office days. This individual-centric model respects personal commitments and promotes peak performance by enabling employees to structure their work around their personal lives.
The Benefits of Flexibility at Synchrony
- Enhanced Inclusion: One of the most significant benefits of Synchrony’s flexible work policy has been the boost in inclusion. “True inclusion has been realized,” says Casto. The flexibility offered is not limited to a specific cohort but is available to all employees, from frontline contact center associates to senior executives. This inclusive approach has fostered a higher level of engagement across the company, as evidenced by positive pulse survey results and low turnover rates.
- Improved Recruitment and Retention: Synchrony’s commitment to flexibility has proven to be a strong recruitment and retention tool. The clarity and permanence of their flexible work policy has made Synchrony an attractive employer in a competitive job market. Potential and current employees appreciate knowing that the company is committed to long-term flexibility, rather than viewing it as a temporary measure.
- Focus on Outcomes and Peak Performance: By emphasizing flexibility, Synchrony has fostered a culture of outcome-driven performance. Employees are encouraged to focus on their goals and deliver measurable results. This shift has led to more candid conversations between employees and managers about work outcomes, further driving performance and accountability.
This shift has led to more candid conversations between employees and managers about work outcomes, further driving performance and accountability.
Overcoming Challenges
While the benefits are substantial, Synchrony has faced challenges, particularly in onboarding and training new employees. The traditional model of in-person training and peer coaching has been difficult to replicate virtually.
“We haven’t figured out how to provide the best employee experience and peak performance in onboarding and training,” admits Casto. The company has experimented with hybrid training models and virtual coworking, but the absence of organic, in-person mentorship remains a hurdle.
“We’re unapologetic in our pursuit of best practices,” says Casto. Synchrony is continuously seeking innovative solutions to enhance the virtual training experience and maintain the high standard of employee development they are known for.
The Future of Flexible Work at Synchrony
Looking ahead, Casto is confident that flexibility will remain a cornerstone of Synchrony’s work culture. “The future of work is flexibility,” he asserts. Trust is at the heart of this philosophy.
Employees want to be trusted to meet their goals and deliver results, and Synchrony is committed to providing the flexibility necessary to achieve peak performance.
Companies that embrace flexibility, according to Casto, will have a competitive advantage in attracting, retaining, and developing talent.
Conclusion
Synchrony’s journey towards a flexible work environment highlights the profound impact such a policy can have on inclusion, recruitment, and retention, and I’ve seen the same in other companies I consult for on figuring out their future-of-work models. DJ Casto’s insights underscore the importance of listening to employees, embracing diverse needs, and fostering a culture of trust and performance.
As the future of work continues to evolve, Synchrony’s commitment to flexibility positions it as a leader in creating a supportive work environment for all its employees.
