millennials & gen z: life in the call center...partner branded credit cards and loyalty programs...

Millennials & Gen Z:

Life in the

Call Center

September 2018

Who is Synchrony?

Millennials & Gen Z defined

The Evolution of the Employee

Why Millennials love to work at Call Centers

Attracting and Retaining Millennials in the workplace

Top Engagement Drivers in the Workplace

Synchrony Tool Chest to Attract Millennials

Agenda

© 2018 Synchrony Financial. All rights reserved. No reuse without prior written consent from Synchrony Financial.

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Our products help people achieve their unique ambitions.

Who is Synchrony?

Synchrony is committed to our ambition of revolutionizing payments and banking.

We provide customized financing and credit programs for leading businesses within retail, health, auto, travel and home.

Retail CardPartner branded credit cards and loyalty programs for purchases at the places where you love to shop.

Payment SolutionsFinancing for major purchases such a refrigerator—or an engagement ring.

CareCreditFinancing for elective healthcare procedures, products and services for people and pets.

Consumer Banking Award winning, online, consumer bank.

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We use deep industry

expertise, technology and

innovation to create easy

purchasing and banking

experiences to help people

realize their ambitions.

What we do is most easily

explained through our four

lines of business, which are

a more tangible service in

the eyes of

a student.


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Millennials

• Millennials are the last generation born in the 20th century and the largest generation currently in the U.S. labor force.

• The Census Bureau projects that the millennial population will peak at 75 million.

35% of population

Ages

21 to 36

Born

1981-1996

Source: Pew Research Center


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Gen Z

Source: SYF Gen Z Study, 2017

$44 billion $143

billion

Collective Gen Z purchasing power

Collective Gen Z purchasing power, factoring in earned income

Gen Z indirect spending power, due to influence on household purchasing decisions

• Gen Z is 26% of the U.S. population, larger than Millennials by 3 million*

• Becoming the fastest-growing generation in the workplace and the marketplace in the next 5 years*

• The most ethnically and racially diverse generation in U.S. history (48% non-Caucasian vs. 44% Millennials)

$333 billion


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Who we’re working with:Get to know Gen Z

Top career goal is to be secure and stable in their job

Drivers of attractiveness have changed from Millennials.

▶ Grew up during the “war on terror” and the economic crisis

▶ More target-oriented, planning career paths earlier

▶ Exposed to dramatically changing industries, with STEM skills becoming more critical

▶ Contrary to popular belief, the uncertain times did not crush their entrepreneurial desire

Their biggest fear is getting stuck in a role where they don’t fit personally, or one with no development opportunities.

58%


2018 Universum Student Survey

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

SUMMARY: 5 Ways Gen Z Differs From Millennials in the Economy

1. A delay in adulting and shift in parenting approach post-recession has led to Gen Z being quite naïve about financial matters

2. Less intention to own traditional financial products (except student loans) but highly connected to digital payment tools.

3. Prefers to shop and purchase in brick-and-mortar stores but browses online.

4. Focuses more on everyday value and discounts vs. rewards programs and lacks the understanding of how to garner value from loyalty programs.

5. Feels less guilty about being connected to their devices

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Source: SYF Gen Z Study, 2017


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The Evolution of the Employee

Source: Chess Media Group


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Why Millennials Love to Work at Call Centers

➢ Clear pathways for advancement

➢ Typically offered full benefits packages

➢ Technology immersion opportunities

➢ Fast paced, team culture – easy to make friends

➢ High level of diversity among colleagues

➢ Flexible work schedules


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Attract & Retain

Work

Competitive salaries

Continuous learning

Challenging and exciting

Growth opportunities

Management

Coaching

Development

Mentoring

Feedback

Transparency

Environment

Collaboration

Diverse workforce

Flexible Work

Inclusive & Diverse

Recognition

Growth

Lattice pathways

Investment in people

Mobility

Volunteerism

Work-Life Balance

Make work challenging, exciting and fun!


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Synchrony’s Tool Chest

Our Culture

Values

Diversity

Community

Career Progression

Training

Benefits


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Top 10 attributes associated with Synchrony

Market Success High performance

focus

Professional training &

development

Respect for its people

Opportunities for international

travel / relo

Commitment to diversity & inclusion

Exciting products and

services

Corporate Social

Responsibility

Good reference for future career

Leadership opportunities

*Bolded items overlap with the top 10 most attractive attributes


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Leaders who support my development

A creative and dynamic work environment

Clear path for advancement

Professional training & development

A friendly work environment

Inclusive, respectful environment

What can set your call center apart?


Thank YouThe Synchrony Business Leadership Program

Thank You


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