Ally Financial is a digital financial services company committed to its promise to “Do It Right” for its consumer, commercial and corporate customers. Ally is composed of an industry-leading independent auto finance and insurance operation, an award-winning digital direct bank, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies, and securities brokerage and investment advisory services. A relentless ally for all things money, Ally helps people save well and earn well, so they can spend for what matters.
500 Woodward Ave.
Jeffrey J. Brown "JB"
Ally is a company that values in-person collaboration, thrives when teammates are together, and values big ideas that come from chance hallway encounters. Everyone at Ally, including customers, succeed when working together.
The open office concept at many Ally locations allows team members to collaborate with one another and build stronger relationships. Once the pandemic hit, Ally was very mindful in keeping collaboration at the forefront utilizing technology like virtual meetings to ensure everyone had easy access to their co-workers. Audio and video conferencing tools have succeeded in facilitating greater collaboration
To instill collaboration with others not in the same department, Ally encourages employees to actively participate in planning events put on by Employee Resource Groups (ERGs) and participate in FutureFest, an enterprise-wide innovation competition to create out-of-the-box solutions to business challenges.
Ally will continue to operate in a hybrid model understanding that both an in-person and virtual environment can allow for flexibility but still provide plenty of opportunity for collaboration .
Ally lives its values. To support a diverse workforce, it is imperative to listen to and work with all 10,400+ teammates to help them get the most out of their careers and lives.
Ally leads with the mantra to “Do It Right.” This extends into everything they do from creating an inclusive culture, to taking care of employees, to offering benefits that reflect the diverse and unique needs of their team to co-creating a career that is fulfilling and purpose driven. The result: a mutually beneficial environment of supporting employees so they can succeed in their lives and best take care of customers. Treating employees like people, not like a number, contributes to strong morale, best-in-class engagement, a passionate cultivation of culture, and leads to returns that benefit all stakeholders.
Employees can focus on these during their career because Ally provides them with financial support, tools and resources like free consultations with a certified financial planner to better prepare for retirement.
Ally has eight ERGs that are open to those who identify, as well as allies. These ERGs provide a safe space for conversation and learning around differences. Each ERG is assigned a focus month when additional activities and events take place to celebrate and honor that group.
Ally’s ERG leads were trained to facilitate “Let’s Talk About It” conversations, which covered the unique differences of each ERG and promoted social justice during their respective focus month. Over 40% of employees actively participated in ERGs last year. Ally’s workforce is more diverse than ever and, through ERGs and individual feedback, the company had expanded its definition of diversity to better support employees; leveraging feedback from ERGs to expand benefits—specifically part-time work and expansion of parental leave to help with returning to the office after the birth of a child, fertility benefits and adoption and surrogacy benefits.
Ally also encourages employees’ voices to be heard through regularly scheduled engagement surveys. Employee satisfaction continues to increase even during the pandemic.
Ally’s career philosophy is that development is a shared responsibility – employees own and drive their career, and it’s nurtured by their manager.
Career ownership happens when an employee plans out a career path that satisfies personal fulfillment, individual development, and the company’s strategic business needs. When an employee sees the impact they make on another’s life, they are more empowered, more engaged and more inclined to seek opportunities to further grow in their careers.
Managers must foster an environment in which an employee can discuss and reflect on their skills and career objectives while also providing feedback about the employee’s skills and growth opportunities. Human Resources provides programs and career tools to support employee development. Wellbeing programs are also in place to help employees as they focus on personal goals for their emotional, financial, physical and social health.
In January, every employee is asked to create annual objectives. Throughout the year, managers and employees have quarterly touchpoints – discussions on objectives, any obstacles, as well as development and career interests. These conversations allow employees to understand what’s expected and give the opportunity to discuss areas of interest.
A human-driven culture is the driving force behind Ally’s connected, highly engaged workforce. The company’s culture and strong employee value proposition is one of the keys to its long-term success. Ally’s mantra is to “Do It Right.” This means offering strong benefits and ensuring employees get the most out of their careers and their lives. If you create an inclusive, caring culture and take care of your employees, everything else follows and falls into place.
Ally’s LEAD core values have been at the heart of our culture:
• Look Externally: We’re focused on innovation and strive to meet the needs of our customers by anticipating changes and responding quickly.
• Execute with Excellence: Good enough is never enough. We continually look for ways to improve and do better.
• Act with Professionalism: We operate with integrity, hold each other accountable, treat others with respect, and embrace diversity.
• Deliver Results: We’re driven to win for our customers. We measure our performance not only by our success, but also by how we achieve it.
Ally offers several resources to support career development, including:
• Mentoring programs where employees can search for a mentor that aligns with their career interests and goals.
• Self-serve tools that help them grow and develop their career – interactive career plans, next-step job charts and recommended trainings.
• Employee Resource Groups (ERGs) that promote mobility and personal development by hosting lunch and learn sessions and leadership panels focused on building employee capability, mentoring, career building and other educational opportunities.
• FutureFest is an enterprise-wide innovation competition, a combination of Shark Tank with America’s Got Talent. Its goal is to demonstrate the importance of employees working together by encouraging Collaboration and Engagement.
• An Enhanced Family Support Program that offers tutoring discounts, virtual learning pods, childcare discounts and emergency care for a child or adult/elder.
• The Overall Total Rewards Package that includes benefits designed to support our diverse workforce.
Ally’s CEO Jeffrey Brown (JB) is known externally as the “culture CEO”. He sets the tone for an open and honest communication plan, which has consisted of him communicating to all employees bi-weekly via email since 2020 to provide clear direction, cultural context and connection.
JB said one of his proudest accomplishments as CEO since 2015 has been the evolution of Ally’s inclusive culture. In addition to being simply the right thing to do, it also remains foundational to the company’s purpose as an ally.
Brown continues to be vocal about Ally’s values, including categorically denouncing racial injustice. JB was one of the first CEOs to sign the CEO Action for Diversity & Inclusion Pledge which makes a united commitment to advance diversity and inclusion in the workplace.
In 2021, Ally increased its minimum hourly wage to $20 from $17. Raising the minimum wage is about providing greater financial stability to hourly workers and recognizing the importance of work being done across the company.
To instill an ownership mentality, Ally launched the #OwnIt grant program in 2019, a common equity grant of Ally stock, intended to make all employees shareholders in the company. #OwnIt underscores Ally’s focus on creating an inclusive culture where all active, regular employees have a vested interest in success. For many employees, this may also have been their first opportunity to participate in the stock market.
Ally offers up to 14 weeks of fully paid parental leave for both moms and dads, in addition to a standard 6-8 weeks of childbirth disability leave . In addition, the company offers adoption assistance of up to $35,000 per child (lifetime max of two adoptions); and surrogacy assistance of up to $35,000 (lifetime max of two surrogacies).
Ally believes in the importance of having a growth mindset, offering robust education benefits including student loan repayment ($100/month, up to $10,000 lifetime), 529 plan contributions ($100/month, up to $10,000 lifetime – and can be used for the employee or a designated recipient), and up to $10,000 a year of tuition reimbursement with an unlimited lifetime maximum.
Ally made the following accommodations to ensure the safety and well-being of its employees and customers:
• Moved 99% of its employees to the safety of working from home in early March 2020.
• Rolled out additional health, financial and wellness benefits including adding 100% coverage for diagnostic testing, immediate paid medical leave if diagnosed with COVID-19, expanded childcare, and two weeks of paid caregiver leave for employees caring for a loved one ill with COVID-19.
• Provided all employees making $100,000 or less in annual base compensation a $1,200 tax-free financial assistance payment.
• Launched an Employee Relief Fund for employees making $125,000 or less who were impacted by the COVID-19 crisis. The financial assistance covered critical needs including food, shelter, utilities and childcare.
• Pulled up annual incentive pay and gave non-executive employees half of their annual bonuses in September 2020 to alleviate potential cash flow concerns.
• Activated new resources to assist with mental wellbeing through access to free mental health professionals.
• Introduced Happify app to provide meditation and mental health support and Shatterproof Just Five addiction awareness and prevention educations.
• Shared vaccine educational information and offered $500 incentive payment for employees who chose to be vaccinated.
• Encouraged the organization to be more comfortable with ambiguity and flexibility.