If your mental image of a millennial is still a smartphone-addicted job hopper, it’s time for a reality check—the oldest members of this age group are now in their late 30s and the generation is the largest in the US labor force.
And though cliches persist, millennials are actually less likely than baby boomers to say that creativity and fun are “extremely important” to them when applying for a job. It turns out that what really matters is how an organization will help them learn, grow and further their careers.
Because unemployment is at a historic low in the US, it’s a job seeker’s market. And many of those job seekers are millennials—in fact, they make up 35% of all workers. Luckily for employers, 60% of millennials say they are open to different job opportunities. It can be hard to separate fact from fiction when it comes to this much-discussed generation; everyone seems to have an opinion. But by digging into data and reviews, we can learn about what its members prioritize in the workplace.
So which companies do millennials rank the highest? And what do they have in common? The Indeed data science team analyzed data from Indeed’s 72 million ratings and reviews to find out. Here’s what they discovered.
Top-Rated Workplaces by Millennials
Despite the cliche that millennials only want to work at tech companies and startups, the list of top-rated workplaces by members of this age group includes a broad range of industries—including security, finance, health care, tech, travel and chemicals. In fact, the top three firms represented the fields of global security, finance and health care, and only one of the top ten is in the tech arena.
To see the top 25 top-rated workplaces by millennials, scroll to the bottom.
Despite representing different fields, there are a number of shared features among the companies. Here are some of the common traits among top-rated companies by millennials:
Opportunities for growth
A recent Gallup poll placed “opportunity to learn and grow” at the top of millennials’ desires when applying for a new job.
Examples of companies providing growth opportunities include number three Kaiser Permanente, a health-care giant that also topped our recent list of top-rated places by interns. At Kaiser Permanente, employees create Individual Development Plans with their managers to help improve their skills and grow their careers. They also have the option of participating in leadership training and mentorship programs.
Number seven Pfizer, one of the world’s premier biopharmaceutical companies, offers unique short- and medium-term career development opportunities, such as job-rotation assignments, experiential action projects and short-term project roles.
And number nine, EY, one of the “big four” global accounting firms, provides a structured curriculum of over 1,000 courses for employees, as well as supporting external educational programs.
Making an impact
Millennials feel increasingly disillusioned with businesses—less than half of millennials in 2018 believe that businesses behave ethically and are committed to helping improve society, down from almost two thirds in 2017, according to a recent Deloitte study.
The same study found that the vast majority (83%) of millennials think that a company’s success should be measured in ways beyond just their financial performance—it is important to millennials that business leaders be proactive about making a positive impact on society.
Some examples from our list of companies leading the way in social impact include number one, Northrop Grumman, a global security company that started as an aircraft designer and manufacturer. Northrop Grumman supports STEM education by providing financial and educational resources to help schools meet their education needs. They also support programs for troops and veterans, health and human services and the environment and natural disaster response.
Number two, Discover Financial Services, has a Discover Cares program, which supports and encourages volunteering at programs like Big Brothers Big Sisters of America and the Boys and Girls Club of America.
Third place Kaiser Permanente recently announced plans to invest $200 million toward reducing homelessness—one of the largest contributions addressing homelessness by a private company.
A recent Deloitte report titled “The millennial majority is transforming your culture” gave millennials credit for being leaders in pushing cultural transformation at work.
The report states that millennials have been at the forefront of changing ways to think about work, including prioritizing flexible work environments where they are not limited to strict working hours or locations.
The findings show that providing a flexible work environment correlates with increased loyalty among millennial workers—among millennials who say they have more flexibility than they did three years ago, 55% plan to stay at their current job for at least five years. For millennials who say there has been no change in flexibility, 27% say they plan to stay for five years. And for those who say they have less flexibility than they did three years ago, the number planning to stay five years drops to 17%.
The good news for millennials is that flexibility may be becoming the new norm, at least for top-rated companies—all of the companies that made the top ten list this year feature a flexible work environment as one of their benefits.
Prioritizing health and family
Standouts include number two Discover, with on-site fitness centers, healthy eating programs like Weight Watchers and mother’s rooms at work. Fifth place Southwest gives employees and their spouses up to $500 for taking steps toward health and well-being.
Offering tuition reimbursement
By the time all millennials finish school, they are expected to be the most educated generation ever. But school is expensive, and many millennials already have student debt.
Overall, outstanding student debt in the US just reached $1.5 trillion for the first time ever. The average monthly student loan payment for someone in their 20s is about $350, and for those left with student debt in their 30s average payments are even higher.
A quarter of recent graduates say that finding a job with student loan assistance is a “top priority,” but only 3% of employers offer it. The top ten companies rated by millennials stand out in this area—almost every company in the top ten features some sort of tuition assistance.
It appears that many millennials are looking beyond the paycheck when it comes to deciding where to work—top-rated companies provide opportunities to learn and grow and give back to the community.
Millennials also tend to prefer companies that prioritize high quality of life for employees. Almost all of the companies in the top ten demonstrated this, whether it be in the form of supporting education and reducing student debt, allowing for flexible working conditions or supporting the health and family priorities of employees.
Based on our data, companies that put community and employee values first can expect to receive high ratings from this large portion of the labor force.
To create this list, we looked at companies with the highest overall ratings from user ratings and reviews on Indeed.com from millennials over the last two years (millennial age group as defined by Pew Research Center).