Americans want to work for organizations that believe in each employee’s potential — and that foster that potential through continuous learning and upskilling opportunities. Indeed, The Harris Poll found eight in 10 Americans believe professional development and training offerings are important when considering a new job.
The Burning Glass Institute’s 2024 American Opportunity Index (AOI) reveals which large U.S. companies are doing the best to advance the careers of their employees. A Charles Koch Foundation partner, the Burning Glass Institute is an independent nonprofit that advances data-driven research and practice on the future of work and the future of learning. The AOI is a joint project from Burning Glass, the Harvard Business School’s Project on Managing the Future of Work, and the Schultz Family Foundation.
From financial services to retail, employers are fostering individual potential
In its third year, the latest American Opportunity Index makes it clear that hundreds of firms, from the technology and financial services sectors to the energy and natural resources industry, are providing pathways for workers to deepen their skillsets.
Burning Glass found companies that prioritize employee advancement are more likely to draw applicants from underserved talent pools. For example, the AOI’s top 100 firms for hiring are 180 percent more likely to bring on board workers who do not have a college degree.
W.W. Grainger, Inc., Costco Wholesale, Capital One Financial, Meta Platforms, ServiceNow, J.B. Hunt Transport Services, Coca-Cola, PepsiCo, MetLife, and Bank of America are among the organizations at the top of the AOI this year.
As a Burning Glass case study articulates, W.W. Grainger Inc. has built a variety of development programs that range from job-specific skills and leadership capabilities to end-to-end learning opportunities. The firm’s leaders have worked to create a company where people can access a wide range of experiences to grow their careers or specialize in specific areas.
“The foundation of the Grainger culture is an unwavering belief that every team member deserves the opportunity to have a meaningful and fulfilling career,” Grainer Chairman and CEO D.G. Macpherson said.
A benchmark for employers who want to respond to employee demand for skills acquisition
The American Opportunity Index provides an innovative and objective tool employers can use to benchmark their employees’ success. Unlike other measures, the AOI is not based on corporate-submitted data or worker surveys, but on an independent, comprehensive data analysis of the career trajectories of more than five million employees at 395 of the United States’ largest companies. It measures how well firms promote, pay, hire, and retain their employees based on what really happened to them over a five-year period.
“When workers rise, companies rise with them,” Burning Glass Institute President Matt Sigelman said. “By offering good jobs and opportunities for growth, top-ranked employers aren’t just supporting their employers, they’re building a stronger foundation for the future.”
The AOI also provides critical new transparency for workers, revealing which companies and industries provide the best wages, chances for promotions, and job opportunities for first-time job seekers and those without college degrees.
Read more about the 2024 American Opportunity Index at Forbes and Crain’s Chicago Business.