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The 2026 Fortune 100 Best Companies to Work For list highlights a major shift toward cultures of listening and well-being. Fortune’s Matt Heimer breaks down how the most successful companies are using AI training and flexible work models to build a future-proof workforce.

From flexible Fridays to AI partners: Synchrony Financial leads the 2026 Fortune 100 Best Companies To Work For list

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The results are in, we now know the 100 best companies to work for in the United States and the top 5, drumroll please, Synchrony Financial, Hilton. Cisco, American Express, and Wegman's. This year's Fortune 100 best companies to work for, it really is, as the name suggests, a ranking of the large American companies that are thought of as great places to work by their own employees. The companies that finished highest this year really leaned in on a kind of humane workplace, whether that meant more flexible work hours, better programs to support people who Have dependents and also good health and well-being benefits across the board. Flexibility really remains the perk that people seem to care about most. Synchrony is number one on this year's list. They are a financial services company that specializes in credit cards. Flexible Fridays is something that their workforce asked for and that management said yes, we should have that. One interesting phenomenon is that in the time since Synchrony made that benefit available, Their earnings have doubled. Some of the companies on our list have very, very high approachability scores. One of the highest is Hilton Hotels, which had a 93% rating. That's especially impressive when you consider that Hilton's workforce spans everywhere from corporate headquarters all the way down to the people who are making meals in the hotel restaurants. Wegman's, the regional supermarket chain, they have a Slack channel called Ask Bob, where all the frontline. Workers in the company can make suggestions to Bob about ways to run the store better and ways to serve their customers better. My colleague Orellana Rosa Royal in the UK wrote about this year's trends, and she really leaned into the fact that these companies, as she puts it, are active listeners. They don't just wait for the workplace and for the workforce to complain and then address the complaints. They regularly solicit feedback about what their workers need. One thing that's very striking about the list is to see how many of these companies are pouring major resources into training tens of thousands of their employees to become more proficient in AI. This is especially a big priority at the business services and consulting firms like Accenture and Deloitte NEY. In any knowledge industry, they know that they need the whole workforce to be proficient in these tools as opposed to worrying about how to run away from AI.

Walmart is making a big change in how it operates—and it starts in Bentonville, Arkansas. Fortune gets an inside look at the retail giant’s brand-new, 350-acre campus. Long known for its no-frills roots, Walmart is now investing big in its hometown to attract top-tier talent, modernize its culture, and compete with tech giants like Amazon. Here’s a closer look at how the United States’ largest employer is reinventing itself.

Inside Walmart’s New 350-Acre HQ

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Walmart is making a big change in how it operates—and it starts in Bentonville, Arkansas. Fortune gets an inside look at the retail giant’s brand-new, 350-acre campus. 

This 350 acre campus is the site of Walmart's new headquarters, a huge bet on in-person work. This home base is a big tool for talent attraction as well. And it's all taking shape here in Bentonville, Arkansas. The ability to recruit talent is so much easier now that we have built our campus. People really have the desire to come together. With over $600 billion in annual revenue and 1.6 million US employees, Walmart is both the nation's largest company and its largest private employer, but it's also faced a lot of questions over its labor practices, store wages, and whether it can compete with Amazon. Now the company is turning inward, investing heavily in an amenity-packed headquarters meant to attract top tier talent and reshape its corporate culture. This sprawling new campus includes 12 office buildings, workout facilities, 2 miles of bike trails, a childcare center, and even a hotel. The facilities opened officially in January, but the rollout will continue in phases throughout 2025. So this is our campus welcome center. It's got our first original Walmart sign and kind of size to the very early Walmart stores for the company. Walmart's roots run deep in northwest Arkansas, where Sam Walton opened the first store in 1962. Since then, the region has been the heart and soul of the retail giant. Company and the board said we're going to invest in a new place to work. It's really easy for us to decide we're staying in Bentonville, a place that built us. In the last 10 years, quite a few large companies have inaugurated new headquarters. Was there anything out there, you know, common mistake that you said, you know, you can learn from others in advance. Is there anything that you said, OK, well, let's let's avoid that. So other campuses that were doing larger urban settings or maybe sort of had the luxury of being Walled off from their community we knew we didn't want to be that we knew that the lines between work and life continued to blur and great company campuses can be very productive spaces and stay alive in the evenings and the weekends. So for us we knew that we didn't want to kind of single ourselves away. In fact, we went all the way in the other direction and we've really tried to make it feel like this campus is great for Walmart and great for Bentonville. This is a great example of a bike garden, so these are at every entry, covered bike parking. Our aspiration is to get 10% of our associates actively commuting through alternate ways. That focus on merging Walmart in Bentonville has helped to find the look and feel of the campus, but it's not just changing Walmart, it's transforming Bentsonville. Since 2020, the county population has increased by 13%, and the average home price has gone up over 70%. And it's not just home prices. Residents are seeing an increase in property taxes and the cost of water doubling. And as the Waltons continue to announce new investments, there are no signs of Northwest Arkansas seeing a slowdown in growth. So I want to connect this a little bit to Bentonville. Bentonville, I was shocked when I took my taxi and saw a population of 54,000, whatever it is, and it was pretty sleepy not long ago. It's not a metropolis yet, you know, but is it part of that idea that people can come to Bentonville and have a lot of the amenities that they would find. In a Seattle or in a New York City, I would argue it's even better than Seattle or other places because the sentiment that we hear from the recruiting side is that this is a town where people feel like it has that small town feel, you know, it does really feel like you're building, you're coming into a community, but it does have Access to a lot of the larger city amenities if you look at our beautiful healthcare center, the beautiful green space we have access to great food, great restaurants, culture museums, it really does have it all, if you will. So while it might not be the big metropolis, you know, of a New York or other places, it really has the Best of both worlds. So from your point of view, what is it about the facilities that fosters the culture and interaction, because you know a physical space is a physical space, and there has to be, you can't just say, OK, all of you go work in these buildings and you'll have a culture and you'll collaborate more. So what has to accompany the physical amenities? Speaking as a talent person, I will say you have to have the right talent in the right roles. That's like job number one. But I will also say going back, gosh, during the pandemic when all of the spaces were being designed and they solicited input from the experts in learning, right, the experts in tech, etc. So it really was designed with the, how shall I say, end user in mind, of which is the associate. It's all part of a transformation Walmart hopes will help redefine its image from legacy retail giant to forward thinking employer of choice. This is a place we call the library. May you asked me if there was anything we changed during the pandemic, and this is a great illustration of a lesson learned, maybe an enhancement that we made. You spent years with people in their homes, in their offices, in their living rooms, on their patios, and I've learned a lot about our associates just from zooming with them in this space made me realize people really embrace the residential nature of their home. They like to have comfortable places to occupy. So tell us a bit about the former Home Office, which had been the Home Office for what, about 50 years, more or less a quite a long time. Yes. What were the shortcomings there that guided, you think the construction of all this and to your mind is more conducive to the culture, I think the The challenge with the old home office, it was, it was wonderful. It suited our culture. I think the challenge with the older campus was it was a bit spread out, so it was probably a little less convenient, you know, to interact and connect and collaborate than obviously this new campus is doing. The old Walmart home office was housed in a former warehouse. There was minimal light and reflected the frugal ethos of the company. To get a better sense of the past, I went to the Walmart Museum in the town square. It's filled with artifacts like Sam Walton's truck and office and even has a Sam Walton hologram. We're going to go inside, have a look at some of the historical high points of this company and what has created the culture that the new home office recently opened seeks to preserve and enhance. So here we are looking at a replica of Sam Walton's original office that was housed at the previous Home Office with the common thread. You know, one thing Walmart always talks about is our values are timeless, but change is constant, and one of the things that I'm really proud about as a 23 year Walmart associate is. The investment in new workspaces, being able to bring all of our teams together. Historically in Bentonville we've been spread out across 29 buildings all over town and the new home office brings all those different teams together to really unlock being more effective and efficient in person. Really. Let me introduce myself. My name is Sam. For decades, Walmart's focus was outward, pouring billions into logistics, supply chain infrastructure, and international expansion. It was all part of a race to stay ahead of rivals like Amazon, whose dominance in e-commerce has reshaped how Americans shop. And now that many of the largest companies in the country have built state of the art headquarters, Walmart has felt the pressure to keep up. I think coming out of the. pandemic, there's a real need and desire for people to connect with each other, to create community, come together to grow and learn, and I think the campus, the way that it's been designed, has really facilitated that already. So that's what I think the overarching purpose is. You know, there was a time, for example, some of the e-commerce teams were out west and You know, it can be a little disparity. It's the idea here to create one unified Walmart, you know, we're not talking about the store employees, but The corpus, is that the idea behind all of this? Yeah, I think yes, and we're still going to have hubs. We have hubs on the west coast where a lot of our tech talent is, East Coast in New Jersey. We have teams there as well, but the goal is, you know, our culture is present anywhere where we are, and so we'll continue to have that. And go to where the talent is, but know that those teams also come here and work together as well. So this is sort of the heartbeat, if you will, of Walmart, but now that we have other locations where we'll continue to, you know, build our teams as well. You have a sense of what tech talent wants or what, you know, somebody who would be going. A luxury retailer wants. So the point of all this as well is to give those employees the amenities that in a way the market says people with their skills should have access to. Yeah, absolutely. The candidates that we're bringing here, they are inspired, and I think the inspiration comes from not just the beauty of the campus, the green spaces, etc. but it's The ease in which we can connect now on campus. In fact, our sentiment data that's shared with us, our candidates that come in are 3 times more likely to be open to moving to Northwest Arkansas because they've come here, they've visited, they've experienced the area, they've experienced our campus, and they feel our culture.

Trek CEO, John Burke, takes us inside the company’s high-stakes race to stay ahead in a rapidly shifting cycling industry. As e-bikes surge in popularity, supply chains evolve, and consumer habits change, Burke shares how Trek is adapting its strategy to lead the pack. From innovation and sustainability to manufacturing and tariff trouble, Burke sheds light on the challenges and opportunities of the billion-dollar family business.

Trek built a $2B business. Now Tariffs are jeopardizing its future.

Trek CEO, John Burke, takes us inside the company’s high-stakes race to stay ahead in a rapidly shifting cycling industry.

Bikes might just have pedals, but they're powering an industry worth over $60 billion globally. High-end cycling has seen a renaissance in the past decade, fueled by a surge in e-bike popularity and a wave of amateur road racers investing in pro-level gear. Few companies have ridden that wave more successfully than Trek. Trek has doubled in size over the past decade, taking its $1 billion revenue in 2016 to $2 billion in 2024. But now the company faces global economic headwinds. Tariffs, how have they affected track? Huge. You know, we're an international business. Put in the chat GPT, chances of a successful 49-year-old company lasting 100 years, and the answer came back 8%. And so I play against that number every day. So with the increased economic uncertainty, how will Trek maneuver to stay relevant in a volatile landscape? The bicycle has always had a boom and bust relationship with American consumers from explosive growth in the 1890s and 1970s to sharp crashes just years after those. The industry has had to recover countless times, and out of the ashes, Preck was born in 1976. My first day at Trek, the training program was one day. I graduated from school, went home, got my wisdom teeth pulled, and the next day I was at Trek, and I remember my first boss, Joel Holden, he told me, he said all the great salespeople drive on Sunday, and I lived in the Rocky Mountains. And I had like 12 states and so I would always drive on Sunday um just to get be in position for Monday morning. John Burke took over as CEO in 1997 from his father, who founded the company in 1976 in Waterloo, Wisconsin. 1982 I was in college and my dad, he wanted to go on a bike trip and so we went out to Colorado. He always loved challenges. He thought it'd be super cool if we could climb Independence Pass. and so early one morning he and I climbed up Independence Pass, and that's been a famous photo. We have a saying, a track called Think Bigger Than the Barn. Tell me about the Red Barn. Well, this is where it all started. Red Barn downtown Waterloo, Wis. 1976, I think the first year there were 6 employees and they made about 700 bikes and you know, a lot of times during the day I'll just walk down to the red barn and back and I feel something when I go down there and it keeps me focused. So I love the red barn. As you were a kid, the company was rising. The day you start, it crashes. What facilitates that crash? I think it was arrogant. I think it was not focusing on the customer. It was kind of focused Trek focused on Trek and Trek didn't take care of the customer and then they got into some product issues and it kind of went downhill from there. My father came in and he took over running the business, and he studied the business for 2 or 3 months and said we're gonna have a quality product at a competitive value and we're going to deliver it on time and that's it. And it sounds so boring today, but at that time Trek was doing none of those things. Now imagine, say theoretically you're someone like me who has not ridden a bike in a while. Where would you recommend I start? If you haven't ridden a bike and you want to get into biking? One of the things I'd really recommend is an e-bike. Can I show you my favorite e-bike? Yes, I love this bike, and the reason I love it is because I have one. And the one thing about e-bikes is anyone who rides one has a huge smile on their face every single time. I mean, you get on a bike, it's unbelievable. You can do 2 X, 3 X 4X, where you could usually do. Once considered a niche product, e-bikes are now one of the fastest growing segments in cycling, projected to top $50 billion worldwide by 2030. Trek has leaned into the electric surge, expanding its e-bike lineup across mountain, road, and city models. E-bikes have been a big part of Trek's growth. It's a big part of our sales right now, but if you take a look at racing bikes, We do really well in racing bikes. The unit volume isn't that high. The dollar volume is really high, and we have a really strong brand there. When Lance Armstrong, a trek athlete, rose to fame after multiple Tour de France wins, his celebrity status had a huge impact. Not only did the bike industry see a boost in interest, Trek specifically saw an increase in sales and cultural interest, dubbing it the Lance effect. The global racing bike market is now valued at $7 billion. Tell me a little bit about Trek's customer. Some of these bikes are thousands of dollars. Who is a Trek customer? Well, you know, just a quote that it's always stuck into my head is, you can judge the greatness of a person not at one extremity, but by their ability to touch both at the same time. We saw a lot of kids' bikes, really cool kids' bikes. But then we sell a lot of $15,000 Project one custom bikes. We touch both extremities and everything in between. Are you looking to expand in those categories, or are you still right sizing after the pandemic? Oh, we're always looking to expand. When COVID-19 hit in 2020, global supply chains ground to a halt, but bike demand exploded. With gyms closed and mass transit viewed as a health risk, people turned to bicycles and droves. For many, it was a safe solo way to stay active or simply get outside. For others, it became a critical form of urban transport. The explosion of interest made bike companies. Ramp up manufacturing. What was happening is a lot of retailers were placing just a ton of orders because they couldn't get everything they wanted, so they just kept placing orders and we're like, God, we're geniuses, and we were not geniuses. And so we kept producing more and more and then the music stopped and there were 5060 day lead times had grown to 500. lead times and so you had this massive amount of inventory. I was reading somewhere where you sort of said something to the effect of trek has to be an international business. That's part of what success looks like, but it is a very difficult time to be an international business. brutal. OK, so yeah, I love how we're we're already here. Yeah, tariffs, how have they affected trek? Huge. You know, we're an international business. We design products in the United States, we build products in the United States, we source products in Asia. We have a large factory in Europe. We do more than 50% of our business outside the United States. We're a global company. And we've got tariff policies that are changing on a constant basis. I'm just telling you, we just increased our prices last week 10%. Tariffs can have a massive impact on a company that potentially can have a huge impact on employment levels. Over 50% of Trek's business is done outside the United States. Why would it be difficult for Trek to move all of its manufacturing to the United States? Yeah, you know, we actually This goes back to the mid 90s. We actually had a manufacturing plant that built a lot of volume bikes in the US and it's really hard because the infrastructure doesn't exist. There are not frame manufacturers. There aren't parts manufacturers. Like you can't buy tires, you don't have rim suppliers. You don't have brake suppliers, you don't have crank suppliers. All that business is gone. It hasn't been in the US for 40 years. It doesn't exist. So to snap your fingers and go, let's reshore everything. By the time you resor stuff and started at that, you're 5 years down the road. And for people to think that you can just go like that, you can't. So what are we looking at here? This is one of the most famous moments in trek history. It was maybe 6 or 7 years ago somebody came back and they said, Do you really know what's going on with women's cycling? And I said, No. And they said, Well, they don't make any money. They stay in the worst hotels. They get the worst amount of support, and I was like, Oh, brutal. And I said well why don't we buy a team and we'll do it the right way. And so we started our own cycling team and there's a race called Perry Rubay and it's only for men and it is the most difficult roads in Belgium in that area and it's all cobbles and it's just really hard. They added a women's event. It was 2019 and that's Lizzie Begman and that's the year Lizzie won the first Perry Rube. What does the future of bicycling in the US look like and where does that intersect with the future of track? I think bicycling in the United States is important for a bunch of different reasons. Number one is just exercise. If you take a look at it today, 42% of Americans are obese. The government helped to bring smoking down. The government helped take care of drunk driving. I think the government can play a Bigger role with the health of the American people and the biggest aspect of that is getting people outside and getting people exercising. So I think that's one thing, you know, I just take a look at transportation, you know, a majority of car trips are 2 miles or less, and would you rather drive a car 2 miles or less, or would you rather be on a bike or would you rather be walking in the United States, if we define a car trip. And we say going to work, going to school, going to the restaurant, going to the market, 1.5% of trips are taken by bicycle. If you go to Holland, that number is 25%, and you have to say from a societal standpoint, do we want more and more people driving cars. or would it be really good if people rode their bikes or walked? And I think for physical health, mental health, healthcare costs, we need to get the country moving, and I think cycling is one way that you can do that.

American Express is winning over Gen-Z by offering curated experiences and personalized rewards that resonate with younger audiences. In 2023, Gen Z accounted for 75% of new American Express Platinum and Gold cardholders, drawn to benefits like exclusive event access and dining perks. This video explores how Amex's strategy of tapping into experiential rewards is transforming the credit card landscape and setting new standards for customer loyalty. 

How Gen-Z Made Amex Cool 

In the first quarter of 2025, Millennials and Gen Z drove over 60% of new global Amex sign-ups. 

American Express built its brand on elite travel benefits and luxury perks – but now it’s shifting to win over a younger audience: Gen Z. 

American Express built its brand on elite travel benefits and luxury perks, but now it's shifting to win over a younger audience, Gen Z. That's the powerful backing of American Express. In the first quarter of 2025, Millennials and Gen Z drove over 60% of new global Amex signups fueled in part by influencer-driven buzz. Hear me out. Get the platinum AMEX card. It's metal and it goes. Things at the heart of this growth is Amex's loyalty and rewards program. So especially as everything costs more, if you can get champagne travel on a beer budget, that's a lot of what Gen Z and millennials are trying to achieve. Here's a closer look at how this 170-year-old credit card giant is evolving to stay relevant with the next generation of cardholders. For decades, American Express was the go to card for luxury travelers and the business elite, built on prestige and premium perks. My name is Tina Fey. Oh, go right in. Really, that worked. Are you aware that you can access over 120 lounges simply by showing the platinum card? But that image. and its older customer base is shifting. In 2023 alone, Gen Z and Millennials accounted for 75% of Amex's new platinum and gold card accounts. Gen Zers are actually bigger risk takers with their money. They came of age though at a different time. It was actually around the pandemic time when money was actually flowing freely. People got all that stimulus money. A lot of Gen Z's introduction to money, at least in adulthood, was more gambling on meme stocks and crypto. We've actually seen Gen Zers proving a lot more risk takers with their money, and that includes taking on debt and also taking on riskier investments. A study from TransUnion found 84% of Gen Z consumers aged 22 to 24. Had at least one credit card by the end of 2023. That's a 23% higher rate than millennials at the same age a decade ago. Millennials were famously debt averse, very slow to get credit cards, perhaps because they have hefty student loan burdens, and many grew up around the time of the financial crisis. Gen Z spends differently too. Unlike older generations who prioritized travel upgrades in airport lounges, Gen Z is putting more of their money towards experiences. and lifestyle, and Amex is leaning in. They'll get you a free global entry or TSA PreCheck membership. They have their own special lounges at certain music festivals and sporting events. You get a little bit off your media subscriptions. You get a little bit off Uber. You get a little bit off these food delivery apps, but it is sticky and it keeps people coming back for more. Amex's business model makes it uniquely positioned to build out this rewards ecosystem. Unlike many of its competitors that just run the payment networks, Amex operates in a closed loop system. That means it handles everything in-house, functioning as the issuer, the acquirer, and the network. Amex has a unique business model in that they're both a lender and a payment processor. Visa and Mastercard dominate the network side of things, but they're not lenders. They're not extending credit. Amex is playing both sides of that. That full picture view. From both shoppers and merchants gives Amex an advantage. It knows where customers are spending and can tailor company rewards to keep them coming back. There's something about getting 4x points when paying for dinner with this card that just hits different. Gen Z and millennials use their Amex cards for dining nearly twice as much as other generations, according to the company. Amex saw an opportunity and moved fast. In 2019, the company acquired Resi, a restaurant reservation platform that Cardholders early access to in-demand tables, and in 2024 it expanded its dining ecosystem by acquiring the high-end restaurant booking service Talk, as well as Rome, a mobile payments app. When you're with Amex Gold, you can stack 4 times points on restaurants around the world. Amex has really leaned into dining as one of their key experiences. They have elevated dining rewards on a bunch of their credit cards, but Also relates to the experience aspect where they can help you book a table at a fancy restaurant. They can sometimes offer chef tutorials and meet and greets, and I'm right here in New York City for the American Express Platinum Coast dining experience. Amex also taps into brand partnerships to appeal to a younger audience. Y'all already know by now that my first job every single year at Coachella is always the Amex experience. Influencer marketing. It is a big deal. They do these activations at film festivals and concerts and music festivals and things like that. It is a way to reach young people. These rewards are designed to keep younger cardholders spending. This boosts transaction volume and in turn drives up revenue. Everybody wants a freebie, right? So especially as everything costs more, if you can get champagne travel on a beer budget, that's a lot of what Gen Z and millennials are trying to achieve. If it really keeps people loyal, keeps them spending. That loyalty has been key to Amex's growth, even with hefty annual fees, nearly $700 for premium cards like the platinum. Younger cardholders are still signing up. The annual fee thing is interesting because that shows how sticky their audience is that, you know, every so often, every few years, they introduce new features on a card and they raise the annual fee, and the renewal. Percentage is apparently very, very high. The people are loyal to these cards. They like the perks they're getting. The competition for these young and affluent spenders is fierce. The rewards race is on, and competitors like Chase, Capital One, and Mastercard are catching up. It's a copycat industry, and we're seeing a lot of that. Chase and Capital One are following the Amex playbook when it comes to luxury travel cards, getting you into the airport lounge, building out their own propriety. lounges. That was something that Amex really pioneered. Take the Chase Sapphire Reserve card. It offers premium travel perks, dining rewards, and access to lounges. Once a hallmark of Amex's platinum card. They have a lot more challengers now than they used to, and in fact, Capital One's a real up and coming competitor. They're in the process of acquiring Discover. That's going to make them an even more worthy competitor. They've been building out airport lounges. They've been in. Producing premium luxury travel cards. Chase had a big shot across the bow in 2016 when they introduced that Sapphire reserve card, and that's going toe to toe with Amex Platinum. And American Express is watching for more than just competition. It's also bracing for broader economic headwinds, including the potential impact of rising tariffs. Market volatility and investor jitters over tariffs already contributed to a dip in the company's stock price. are already worried about inflation and the high cost of living. If tariffs make that more expensive, there's a fear that we could tip into recession and that this could kind of be the straw that broke the camel's back. A recession is still bad news for any sort of payments provider. If people are spending less, that pie is shrinking. In its April 2025 earnings call, Amex CEO Steve Squareri acknowledged those risks, but pointed to the company's affluent customer base as a buffer. If you look at our card base now versus our card base in 2019, it is more premium than it was at that point with higher FICOs. And the other thing that I'll say, our millennial and Gen Zs are performing significantly better both from a FICO perspective and from a delinquency perspective than the industry. That high spending, low risk consumer base may help shield the company. From some economic turbulence, the companies that would likely fare the worst in a recession are those that cater to more of a subprime audience, those who have customers with lower incomes, lower credit scores. The Amex audience is very resilient. Delinquencies across the industry have gone up. They haven't gone up as much at Amex, and that's also reflective of the customer base and could bode at least better if there is a downturn.

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