The insurance industry is gradually gaining a positive reputation as a great career choice for recent graduates and job hunters seeking a stable and rewarding profession. However, the recently released Fortune's Best Workplaces for Millennials 2020 ranking suggests that insurance companies still struggle to compete with other industries when it comes to millennial employees' satisfaction. Only four insurance companies were named as a best workplace for millennials this year out of 75 large (1,000+ employees) and 25 small-to-mid-size employers (10-999 employees). Of the insurance companies recognized, just two are in the property & casualty space. And just one P&C insurer — Progressive — earned the award for a consecutive year. The slideshow above features the insurance companies named on the 2020 Fortune's Best Workplaces for Millennials list.

How were workplaces selected?

Great Place to Work® analyzed confidential responses of nearly 4.9 million people who answered over 60 survey questions before the COVID-19 pandemic. Eighty-five percent of the analysis is based on what millennials said about their experiences of trust and reaching their full potential as part of their organization, and 15% is from an assessment of millennials' daily experiences of innovation, the company's values, and the effectiveness of their leaders. To qualify for the recognition, companies had to meet the Great Place to Work-Certified standard and employ at least 50 millennials.

Millennials name what they love about their workplaces

Millennial employees offered feedback on why their employer is great for their generation. One employee response from Progressive, one of this year's honorees, said: "We put so much focus on our culture. People are encouraged to bring their whole selves to work. I value a company devoted to diversity and inclusion, and it gives me great pride that we are encouraged to give back to our community." Other reasons why millennials said their workplace is a great include volunteer opportunities, work/life balance, benefits, great colleagues, and more. Related: 

• Top P&C workplaces in financial services & insurance in 2020
• Best P&C insurance workplaces for diversity
• 8 insurance companies ranked among best workplaces in 2019

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