How Synchrony’s Radical Flex Model Propelled It to the Top of Fortune’s Best Companies List

Synchrony, the nation’s largest provider of store credit cards, has surged to the No. 1 spot on Fortune’s Best Companies to Work For list, climbing from No. 37 just five years ago. This marks its ninth consecutive year on the list and the first time in 23 years a financial services company has topped it.

Synchrony’s success stems from its groundbreaking ‘flex model’—a no-mandate, no-surveillance approach to remote work that applies equally to frontline contact center employees and senior executives. This trust-based culture challenges the widespread corporate push for mandatory office returns, proving that flexibility can drive both employee satisfaction and financial growth.

Why Synchrony’s Flex Model Stands Out in Financial Services

Unlike traditional banks, Synchrony operates entirely digitally, issuing private-label and co-branded credit cards for retail giants like Amazon and Walmart without physical branches. This digital-first structure allows the company to extend remote work flexibility to all 20,000 employees, including hourly contact center staff—a rarity in the financial sector where hybrid work often favors only white-collar roles.

Synchrony’s flex policy was shaped by employee feedback, with 85% expressing a desire for remote options. Rather than imposing top-down mandates, the company honors this trust, resulting in bustling office hubs where attendance is voluntary yet high.

Leadership’s Perspective: Trust Over Mandates

CEO Brian Doubles recalls the isolation of stepping into leadership during the pandemic and the challenges of maintaining culture remotely. Yet, he emphasizes that true trust means empowering employees with flexible work arrangements rather than enforcing rigid office hours.

“The ultimate test in trust is allowing your workforce a flexible hybrid work arrangement. Our employees told us that was important to them. We listened.”—Brian Doubles, CEO of Synchrony

Synchrony measures performance through frequent reviews focused on outcomes, not time spent in the office. This approach has fueled a nearly fourfold increase in earnings per share since 2020, proving that flexibility and accountability can coexist.

Balancing In-Person Collaboration with Remote Freedom

While Synchrony champions remote work, its leaders acknowledge the value of in-person interactions for innovation, mentorship, and culture-building. The company has halved its real estate footprint, redesigning spaces to prioritize collaboration over individual workstations.

“Some of the most impactful moments in my career were just being in a meeting I wasn’t supposed to be in… It’s hard to replicate that virtually.”—Brian Doubles, CEO of Synchrony

Synchrony’s model avoids entitlement on both sides—employers don’t demand presence, and employees understand that flexibility is part of a shared commitment to work.

Building Trust as AI Transforms the Workplace

As AI reshapes jobs across industries, Synchrony’s culture of transparency and trust positions it well for the future. CEO Doubles openly communicates AI’s impact, framing it as a tool to enhance work quality and free employees for more strategic tasks.

“It takes years to earn trust, but you can lose it in seconds. That’s what you have to watch out for.”—Brian Doubles, CEO of Synchrony

With 80% of employees optimistic about AI’s potential, Synchrony’s trust-first approach is proving essential in navigating technological change while maintaining employee engagement.

Looking Ahead: The Future of Work at Synchrony

Synchrony’s rise to the top of Fortune’s Best Companies list underscores the power of listening to employees and embracing flexibility. As the company continues to innovate its workplace culture, it sets a new standard for balancing performance, trust, and employee well-being in financial services.

With ongoing celebrations and a renewed sense of pride, Synchrony’s leadership remains committed to fostering an environment where people can thrive personally and professionally—proving that a flexible, trust-based model is not just possible but profitable.