Boston doesn’t make the cut on Fortune’s best workplaces for millennials
Fortune.com released this year’s list of 100 best places for millennials to work — and none of them are headquartered in Boston.
The ranking — a collaboration between Fortune and Great Place to Work — used data from surveys of over 398,000 US employees from companies certified by Great Place to Work. It weighed employee ratings, a comparison of ratings with those of other generations, and the consistency of ratings between employees of different backgrounds and roles.
Ultimate Software in Florida, SAS Institute in North Carolina, and Quicken Loans in Detroit top the list. Twenty-three Massachusetts companies were considered for this year’s rankings. One area company, HubSpot, did make the list this year — at No. 88 — but it’s based in Cambridge. Boston Consulting Group, the only business located within Boston’s borders that showed up on the list in the two previous years, didn’t make the cut for 2017.
Boston Consulting Group decided not to participate this year, said Kim Peters, executive vice president at Great Place to Work, a research firm. But it was ranked No. 3 on Fortune’s 2017 list of “100 Best Companies to Work For.”
On Fortune’s millennial workplace list, BCG ranked No. 23 in 2016 and No. 8 in 2015. As of 2016, Great Place to Work reported that 65 percent of BCG employees were born in 1981 or later. BCG spokesperson Hanah Heitzelman declined to comment for this article.
Boston seems to recognize a value in retaining millennials in the city. The Greater Boston Chamber of Commerce contributed to a report issued last month by The Boston Foundation called “City of Millennials.” The report said that in 2015, 35 percent of the city’s population was between 20 and 34 years old. The population of this group has increased about 16 percent since 2000, while the general population of Boston has increased only 10 percent, the report said. While none of the companies on Fortune’s list are headquartered in Boston, some, like law firm Cooley LLP, have a large presence in the city.
California had the highest number of headquarters on the Fortune list at 25, followed by Texas at 12. Peters, of Great Place to Work, said that across industries, culture improves when companies realize they must focus on it to compete with others for employees.
Fortune and Great Place to Work found that despite the stereotype that millennials like to job-hop, 85 percent of lower-level employees at companies on the list plan to stay for a while. Meaning workplace culture may be a key to retaining Boston’s millennials.