Our Commitment to Diversity, Equity, and Inclusion
We are committed to creating an environment that appreciates the individuality of all team members. We recognize diversity as a broad collection of differences that encompass many elements, including race, age, gender, sexual orientation, education, ethnic origin, religious beliefs, physical ability, and more.
We believe a wide band of inclusion contributes to the company in many areas, including:
Increased team member performance
Focusing on diversity also positions us to:
Better promote diverse business partnerships
Expand our customer base
Attract and retain top talent in the market
Make our company a better place to work
Better understand customers’ unique needs, including development of tailored products and services and delivery of outstanding customer and community service.
Leveraging these differences is essential to our organization’s long-term success.
Our recruiting efforts are focused on attracting a diverse slate of qualified applicants that reflect the communities we serve. We track and measure the conversion rate of diverse applicants through the entire hiring process, from application to offer, noting the mix of candidates that receive offers and how many accept employment offers. We have seen improvement year over year, most notably in the applicant pool.
Women’s representation in senior leadership roles grew from 33% in Q1 2019 to 37% at the end of 2020, and minority representation in senior leadership increased from 8% to 13% over the same period, compared to targets of 40% female and 15% minority representation in senior roles.
In our mortgage business, minority mortgage loan originator (MLO) representation increased from 10% in 2015 to 16% in 2020. We continue to expand our representation goals and we expect consistent, regular progress. Please see our 2021 Proxy for more information.
Diversity, Equity, and Inclusion Initiatives
In 2018, we launched a CEO-sponsored initiative to increase minority representation in our company, and female and minority representation in senior leadership.1 Over the last two years, we have accelerated our efforts to improve inclusiveness through a number of initiatives based on results from our employee engagement survey, including:
Active recruiting efforts at historically black colleges and universities (HBCUs)
Network luncheons for relationship-building between executive and senior leadership and team members
Market visits and listening sessions to ensure two-way communication between executive and senior leaders and team members
Employee Resource Groups (ERGs) formed representing women, Hispanic/Latinx, LGBTQ, African American, and military team members
Gender pay equity study and needed adjustments completed in 2019 with ongoing assessment to ensure equal pay for equal work
These initiatives also included the hiring of a diversity and inclusion director who reports to the Chief Strategy and Customer Experience Officer.
We have conducted several rounds of Inclusion and Diversity (I&D) focus groups to gather feedback on ways we can continue to improve in this critical area. We’ve also held listening sessions, offered fireside chats, and created ERG communities to ensure team members can both learn and voice their perspectives on issues impacting our communities and our company. As we continue to mature our I&D efforts to achieve measurable and sustainable diversity at all levels of the organization, our director of I&D is working closely with every business unit leader to create diversity strategies custom to the current and future needs of the organization. The objectives and the implementation plans are set using baseline data and consider specific challenges in each individual unit.
All leaders are required to complete unconscious bias training as part of our leadership development program.
Talent Acquisition and Management
Teamwork, on the job-training, and mentorship are essential aspects of career development at Synovus, and we believe in and benefit from the whole person, along with the individual talents and skills a team member brings to work. To ensure Synovus is regarded as employer of choice by a diverse pool of applicants, hiring managers, talent acquisition partners and third-party search firms collaborate to ensure consistent consideration of a diverse interview slate for posted openings. We’re committed to making steady progress at every level of the organization, and we continue to see positive trends.
We are an Equal Opportunity Employer and do not discriminate on the basis of age, race, creed, color, national origin, sex, gender, pregnancy, sexual orientation, marital status, religion, veteran status, gender identity, disability, citizenship, military service or obligation, genetic information, or any other characteristic prohibited by law.2 Our leadership is dedicated to ensuring the fulfillment of this policy with respect to hiring, staffing, selection for training, promotions, transfers, leaves, rates of pay or other forms of compensation, and general treatment during employment.
To further the principle of Equal Employment Opportunity for all, we have developed affirmative action plans for minorities, women, the disabled, and Vietnam Era and special disabled veterans.
Employee Resource Groups
Our Employee Resource Groups (ERGs) are informed networks of team members throughout the company who share common interests and characteristics and drive education and engagement around events that support our Inclusion and Diversity process.
Team members do not have to personally identify with the group they are interested in joining. ERGs provide an opportunity to network and grow team member knowledge by interacting with others from different backgrounds. Our ERGs include:
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