The National Association for Female Executives honors Synchrony as a company that promotes advancement of women
Synchrony (NYSE: SYF), a premier consumer financial services company, has been named one of the 2018 NAFE Top Companies for Executive Women by the National Association for Female Executives. This award recognizes American corporations where women have significant clout to make decisions that affect their company’s future and bottom line. The NAFE Top 70 Companies is featured in the April/May issue of Working Mother. The full report on this year’s winners are listed here.
“Synchrony is committed to fostering a company culture where individuals with different perspectives and unique ambitions can thrive,” said Marissa Lara, Chief Diversity and Corporate Responsibility Officer. “We are proud to be recognized for the first time by the National Association for Female Executives. The diversity of our business, people, and ideas is one of our greatest unifying and defining strengths.”
Synchrony promotes an inclusive culture by sponsoring seven employee Diversity & Inclusion Networks – 7,000+ employees are members of at least one of these networks. These networks provide a platform for professional development and opportunities, which enables Synchrony to develop great leaders.
Betty Spence, president of NAFE, says, “NAFE’s annual scrutiny of women’s progress at American companies offers essential data about the movement of women into top leadership in the private sector. In this first year of having five NAFE Top Companies with boards of 50% or more women, we point to a synergy between the greater presence of women on the board and an increase in the number of winning companies with women CEOs and with 50%-plus women in the C-suite (10 companies).”
Subha V. Barry, senior vice president & managing director, Working Mother Media, says, “NAFE’s Top Companies shows us what progressive organizations are doing to ensure women’s advancement into executive positions. This year, noting increased enrollment and more companies with high scores, we decided to enlarge the list by 10. Areas such as number of female CEOs and promotions at every level illustrate improvement. However, while there is increased CEO engagement in making sure women have the best chance to become leaders, we also note there has also been a dip in key indicators like top earners, which needs to be addressed.”
About the Methodology
The 2018 NAFE Top Companies application includes some 200 questions on female representation at all levels, especially the corporate officer and profit-and-loss ranks. The vetting process includes tracking access and usage of programs and policies that promote the advancement of women as well as the training and accountability of managers in relation to the number of women who advance. In order to be eligible for the NAFE Top Companies survey, entrants must have a minimum of 1,000 employees, two women on the Board of Directors and be a public or private company. NAFE also separately names the Top 10 companies in the nonprofit sector.
Synchrony (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables.* We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 380,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial offers private label credit cards, Dual Card™, and general purpose co-branded credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, www.facebook.com/SynchronyFinancial, www.linkedin.com/company/synchrony-financial and www.twitter.com/Synchrony.
*Source: The Nilson Report (June 2017, Issue # 1112) - based on 2016 data.
The National Association for Female Executives (NAFE), founded in 1972, serves 20,000 members nationwide with networking, tools and solutions to strengthen and grow their careers and businesses. Working Mother magazine publishes the annual NAFE Top Companies list. NAFE.com provides up-to-date information, a community for women in business, and access to member benefits. NAFE is a division of Working Mother Media, owned by the Bonnier Corporation.