Synchrony Introduces Free Degree Programs for Skilled Trades Employees to Bridge Skills Gap

Synchrony Introduces Groundbreaking Skilled-Trades Degree Pathway

In a significant initiative aimed at addressing the growing skills gap in the workforce, Synchrony has unveiled a new program designed to empower its employees. Under this program, eligible U.S. employees can earn an associate degree tuition-free in various high-demand skilled trades, including HVAC, electrical, plumbing, and welding, after just three months of service.

The launch was part of Synchrony’s Women in the Trades forum, where industry leaders gathered to discuss ways to enhance the pipeline for tech-enabled trade careers. Kelli Nesseth, Senior Vice President and General Manager at Synchrony, articulated the urgency of the initiative by highlighting the current labor market landscape. There are currently nearly half a million vacant skilled trade positions across the United States, a situation exacerbated by the increasing reliance on smart technologies and connected systems.

In this digital age, skilled trades are evolving. The integration of artificial intelligence and varied technological advancements has necessitated a workforce adept not only in hands-on skills but also in digital literacy. Synchrony’s program aims to build a workforce that is prepared for the challenges and expectations of modern skilled trades.

“Skilled trades power our homes, businesses, and local economies,” said Nesseth. “This program is not just about filling positions; it’s about creating opportunities, including mentorship and pathways to business ownership.”

Building Skills, Opening Doors

Synchrony’s commitment to education and workforce development doesn’t stop at providing free tuition. The program includes diverse options such as paid apprenticeships, employer-based training, and practical learning through hybrid models or on-campus sites. Employees can choose from over 20 participating community and technical colleges, ensuring that the courses offered meet the demands of the local job market.

Attendees of the Women in the Trades forum noted the critical role such programs play in ensuring technicians are readily available to respond to urgent needs within their communities. A shortage of skilled workers can lead to immediate issues for families, prolonging essential repairs and inconveniences, and ultimately impacting local economies.

Many small and medium-sized enterprises, often the backbone of local economies, have been hit hardest by this labor shortage. Synchrony’s initiative aims to reduce these backlogs and cultivate a future-ready talent pool, prompting immediate responses to local community needs.

Jane Sidebottom, the President of Women in HVACR, emphasized the importance of these initiatives: “Synchrony’s tuition support is vital for helping more individuals, especially women, to engage in high-demand trades. This approach will undoubtedly foster the next generation of leaders in our field.”

A Commitment to the Future

Synchrony’s efforts are a part of the company’s broader social commitment; since 2021, it has donated nearly one million dollars to skilled trade programs nationwide. The Synchrony Foundation has specifically focused efforts on supporting women entering these trades, having allocated $150,000 to Women in HVACR for scholarships.

The successful launch of the skilled trades degree pathway is also a step forward in Synchrony’s mission of driving equity in education and workforce readiness. By providing accessible, debt-free educational prospects, the company is ensuring that its workforce is not just competitive, but also capable of thriving in a rapidly changing environment.

As the skilled trades landscape continues to evolve, Synchrony stands at the forefront of change, paving the way for inclusive and sustainable career paths that promise to enhance the livelihood of individuals and the prosperity of communities.

With this innovative program, Synchrony is not merely addressing current workforce needs but is actively shaping the future of trade careers, ensuring that the next generation is equipped for success across various industries.