Published by:  Margaret Keane, CEO of Synchrony

Originally published on LinkedIn.  In addition to reading below, you can comment and share with others by clicking here.  

Earlier today, Business Roundtable (BRT), an association of CEOs from America’s leading companies, released a series of recommendations to support both corporate action and public policy to advance racial equity and justice. This announcement lays out a comprehensive path toward breaking down the walls of systemic racism and building a better, more equal world for all. I’m proud to work alongside our Business Roundtable members, especially our Racial Equity and Justice Subcommittee CEO Chairs, to put forward such a thoughtful, action-oriented plan that will drive meaningful change.

Too often all of us – especially Corporate America –let moments of change come and go. Today’s announcement challenges our collective acceptance of inaction and establishes a path to change and accountability. With this backdrop, and with a shift in our awareness of the inequity that exists in our society, I believe we can and will build a bridge to a better world.

As Paget Alves, one of Synchrony's Directors, and I recently wrote for Fortune: “Diversity, inclusion, and equality are moral and business imperatives—companies can and should do better. This moment calls for business leaders to ask ourselves soul-searching questions as to how to tackle the root cause of structural racism within our own spheres of influence; while doing so, we also have to face some uncomfortable truths about how we operate today.”

While I can’t speak for all, I pledge on behalf of Synchrony we will work toward this goal each and every day.

That is part of the reason we recently elevated D&I to a strategic imperative with Board level accountability. Led by a senior team including our President Brian Doubles, Chief Diversity Officer Michael Matthews and others, we have charged this group with developing an enterprise-wide strategy, setting measurable goals and providing regular progress reports to our Board, employees and other stakeholders across three key areas:

1. Driving initiatives to increase diverse employee talent at all levels of the workforce;
2. Growing business partnerships with diverse suppliers, entrepreneurs and customers;
3. Increasing our commitment to addressing deeply rooted gender and racial inequality within the communities we serve, continuing to build on our strong foundation.

We’ve been clear that we expect – and will deliver – results.

That’s why I could not be more supportive of today’s important Business Roundtable recommendations. In the days ahead, we will do our part to support these efforts, most especially in driving career opportunities and growth for people of color. I’m proud of the work being done by the BRT Education & Workforce subcommittee and the leadership role Synchrony has played. Here’s just a few examples of how we’re already supporting many of the focus areas laid out by the BRT:

• Supporting the Multiple Pathways Initiative: Synchrony’s “Skills Forward Initiative” is addressing skill gaps critical to the future of our business. We have expanded our tuition reimbursement benefit to include a non-degree option through a sponsored certification program. Equally, our Skills Training for Evolving Professionals (STEP) program helps Synchrony's call center and administrative talent hone their management and technology skills, gaining valuable experience through special projects and in-role development. 
• Assign Accountability to Support Initiatives: In addition to the above, Board level accountability, last year we launched a program we call Advancing Diverse Talent (ADT). ADT is Synchrony’s data analytics initiative which informs our strategies to increase the hiring, development and progression of underrepresented diverse talent.
• Increasing Access to Credit: We have committed to 1) Utilizing new data sources to passively authenticate more customers instantly and seamlessly, including those with thinner credit files or other limited data histories, and 2) Expanding data used in credit decisions, including alternative data and data not found in a traditional credit report, to expand credit to those who may have limited traditional credit history.
• Partnering with Thurgood Marshall College Fund: Earlier this year we announced a $5 million dollar commitment to support national non-profit organizations working to bring about social justice, combat systemic racism, and make a difference in the lives of Black Americans. Thurgood Marshall College Fund is one of the organizations supported by these grants. 
• Diversity Disclosure and Reporting: Synchrony will continue to disclose the diversity of our Board, executives and workforce annually in our Corporate Social Responsibility Report.
• Ensuring Pay Equity: We continue to believe people should be paid fairly and equitably for their work, regardless of race, gender or any other factor. We have policies in place for continued measurement in this area.
• Increase Access to Telehealth: Our team has come to rely on telemedicine this year. We will continue to offer telehealth options. This includes ensuring a roster of diverse, mental health practitioners available through our Employee Assistance Program – a request made by our team.
• Shrinking the Digital Divide: We’ve taken a number of steps focused on addressing the inequities in remote learning access and opportunities and continue to do more.

You can read more about the steps we’re taking here.

To be clear, there is much work to do. Ending centuries of inequity won’t happen overnight. But together we can act and influence meaningful change. As Dr. King famously said: “There is no noise as powerful as the sound of the marching feet of a determined people.”

The Business Roundtable’s roadmap establishes an important framework to guide us as we walk, together, in pursuit of a more equal world.