Verizon is committed to providing employees with the training and development they need to keep pace in an age of rapidly changing technology. Among the best in corporate America, our training programs focus on long-term career development as well as short-term roles and responsibilities.
Working smarter, providing innovative customer solutions, and driving business imperatives are what Verizon needs to compete in the global marketplace. Verizon invests heavily in our people and our learning and development systems.
Last year we invested more than $280 million in learning and development, offering more than 11,000 courses in a variety of formats, from collaborative learning in a classroom to self-directed learning online. In total, Verizon employees completed 7.9 million hours of training in 2012 — equivalent to an average of 44.6 hours per employee. In three years alone, Verizon employees have completed more than 25 million hours of training.
|2010 - 47.8|
|2011 - 44.1|
|2012 - 44.6|
Our Global Tuition Assistance Program provides employees with up to $8,000 annually to fund higher-education studies for enhancing their careers at Verizon. In 2012, more than 23,000 employees across the company benefitted from the program.
Verizon employees receive valuable benefits, along with many programs and initiatives tailored to meet the specific needs of individuals and families, as well as the special requirements needed to support our employees who serve in the military.
In our performance-based culture, we provide salaries and wages that are among the best in our industry and the markets we serve. In addition, our annual incentive bonuses are based on individual and company performance. Our savings plan (401k) allows employees to save for their future, and the company offers a generous match — up to 6 percent of an employee’s salary.
Verizon is committed to the health and wellness of our employees and their families. We are focused on creating a culture of health across our population. To achieve that, we have implemented a robust platform that combines quality healthcare benefits, extensive health-literacy resources and tools, and preventive and early-detection services delivered through our health plans and readily accessible health screenings and lifestyle programs.
The foundation of our commitment is the quality benefits and health plans we provide to our approximately 741,700 employees, retirees and their dependents. In 2012, Verizon invested nearly $3.5 billion to provide healthcare benefits.
What fuels our educational and preventive care strategies is our “Be Well, Work Well” programs. For several years, we’ve empowered employees to proactively manage their health and wellness. One important way we help employees to stay fit is by providing access to 44 on-site Health & Wellness Centers nationwide for the low rate of $15 a month. For employees at work sites without a center, we provide discounted memberships at more than 10,000 health clubs across the United States.
Our concerted efforts also include providing access to appropriate health and early detection screenings, condition management programs, and a combination of telephonic, online and onsite health improvement initiatives, working in partnership with our health plan programs, and we are beginning to see real improvements. Key examples include
These programs are having a positive impact, raising the percentage of Verizon employees who have been screened closer to national benchmark levels set by the National Committee for Quality Assurance (NCQA). For example:
Our 2012 health screening reports for blood pressure and glucose testing illustrate a positive impact as 78 percent of participants having hypertensive blood pressure in 2010 improved their blood pressure by 2012 and 45 percent of participants having high glucose in 2010 no longer had high glucose in 2012.
We understand that employees have lives outside the company that requires a balance between those demands and their work. That’s why we give our employees a choice of flexible work arrangements such as flex-time and telework, as appropriate to the needs of the business.
Sometimes employees face personal challenges with issues related to caring for children or adults, or health and wellness issues that affect their ability to work. Our comprehensive Employee Assistance Program is a valuable resource that can connect employees with professional assistance, spanning child services, elder care services, adoption assistance, in-care social support and many other family services.
For new parents, we provide the “Gradual Return to Work Program,” allowing employees returning from childbirth or child-adoption leaves to maintain their benefits coverage while working a reduced schedule. For employees who choose to adopt, Verizon will reimburse them up to $10,000 for each adopted child for expenses such as legal fees and travel. Verizon’s employee discount program offers employees an opportunity to take advantage of product and service discounts offered by various businesses in the areas of automobiles, electronics, financial services, health/wellness, travel, and other services.
Veterans and active service men and women bring unique skills to their work as Verizon employees, lending their focus, perseverance and leadership to the job of serving our customers and advancing our business. During the past decade, more than 1,100 employees have been called up to active duty, and Verizon has been there to provide benefits and protect their employment.
To support and retain these valuable employees, Verizon pays the difference between an employee’s military pay and their Verizon pay for up to three years, with no interruption of health benefits for their dependents. In addition, we offer programs to assist employees with finding work at Verizon locations that are close to a spouse on active duty.
Verizon continues to partner with other large companies in a program called the “100,000 Jobs Mission,” which aims to collectively hire 100,000 military members leaving active duty service and other veterans by the end of 2020. In addition, Verizon is one of 25 large U.S. companies on the Veterans Employment Advisory Council, which drives towards an increase in employment opportunities for military spouses, reservists and disabled veterans. Verizon employs more than 11,000 veterans and hired 448 veterans in 2012.
Verizon understands that some men and women will leave the military facing difficult challenges ahead. Our attorneys provide pro bono legal assistance to help veterans injured in combat or other hazardous duty receive the benefits they deserve. Through the American Corporate Partners Program, a number of our employees serve as mentors to men and women who are leaving military service.
Verizon is the major sponsor of the USO lounges at the Washington, D.C. area and Baltimore airports, where men and women in the military can call anywhere in the world for free. And, through the USO’s “United Through Reading” Program, troops deployed from Baltimore Washington International Airport can record themselves reading a book and have the DVD sent to their children.
At Verizon, diversity means cultivating an inclusive organization that reflects the marketplace and leverages the diversity of employees, customers, suppliers and community partners because it is the right thing to do and drives business success.
Having employees with diverse backgrounds and experiences makes us more innovative and helps us meet the needs of our increasingly diverse customers. We measure our progress, and we hold our executives accountable for promoting diversity within their organizations.
We strive to create an inclusive, performance-driven culture in which all of our employees worldwide have opportunities to contribute and grow.
Our equal opportunity policy provides protection to all persons, without regard to race, color, religion, age, gender, sexual orientation, gender identity and expression, national origin, disability, military status, citizenship status, veteran status or any other protected categories. Verizon does not discriminate on the basis of any protected classification listed above, or other categories protected under federal, state or local law.
Verizon’s Employee Resource Groups (ERGs) are company-supported volunteer organizations that through individual affinities play a critical role in our vision to become an employer of choice and the premier provider of innovative communications, information and entertainment. ERGs support Verizon’s strategic business goals with employee engagement and retention, diversity awareness and recruitment, understanding our broad customer base, and philanthropic initiatives. In addition, ERGs provide a stronger sense of community within the company.
ERGs are strategically aligned with business goals and provide a wealth of knowledge that can be leveraged to drive results. The cross-functional nature of ERG membership fosters collaboration, information sharing, and connections to our diverse customer and vendor base. Our ERGs include:
The “Voice of the Employee” is essential for driving innovation, improving how we operate and enabling Verizon to achieve its business priorities. Our employees know how the company works better than anyone, so we engage them in a variety of ways to encourage them to speak up about how we can serve our customers better and use our best-in-class broadband, wireless and global IP network technologies to create powerful solutions for the world’s biggest challenges.
We firmly believe that our success and strength as a business begins with our performance-based culture. It’s what bonds, drives and motivates our highly talented employees from around the world. The foundation of our culture is the Verizon Credo which, together with our Customers First Commitment and Core Values of Integrity, Respect, Performance Excellence and Accountability, define who we are and how we work.
Our Credo lays out a powerful set of aspirational principles which fuel our culture and focus our business around serving our customers. It demands that we deliver superior customer experiences, listen and respond to our customers, embrace diversity, respect and trust one another, operate with integrity and “share our success with the community to make the world in which we work better than it was yesterday.”
Employees embrace the Credo, look to it for guidance and apply its principles to how they perform their work every day. Our Chairman and CEO Lowell McAdam and other senior leaders regularly discuss how we apply the Credo to our business decisions as part of their formal communications with employees. We continuously communicate with and engage our employees about living the Credo and our Values because we know that our culture is what will enable us to accelerate change and transform our business around the markets of the future to achieve our vision of being a globally connected solutions company.
We amplify the Voice of the Employee within our business by inviting employees to share their opinions about the company through the Verizon Viewpoints employee opinion survey. Conducted once every two years, the survey allows employees to provide their perceptions about our business in the following key categories: Reputation and Pride, Culture & Core Values, Customer Focus, Quality & Value Creation, Employee Experience and How We Work. Employees also are invited to write in comments about any business-related topic. In 2012, nearly 94,000 employees responded, and we received more than 40,000 write-in comments.
Our 2012 survey showed that we surpassed industry benchmarks for measures on culture/values, pay and benefits, corporate citizenship, overall satisfaction and engagement. Also, of the 18 questions repeated from the 2010 survey, 83 percent improved in favorability. Each Verizon business unit has received its Viewpoints results and will continue the dialogue with their teams on those opportunities identified where we can improve our performance. In 2014, we will again survey our employees across the globe.
In addition to our biennial employee survey, we conduct several “Pulse” surveys each year that are designed to provide an ongoing measure of the internal health and climate of the organization. We conduct a Performance Agreement Pulse Survey each year to ensure that supervisors are providing annual performance reviews to their teams and that employees have performance objectives and understand how they impact the success of the business. In 2012, 92 percent of responding employees indicated that they had a performance discussion with their manager, with 95 percent of employees who had a performance discussion rating the quality of that discussion favorably. Overall, 90 percent of respondents indicated that they understood how their performance objectives align with Verizon’s business priorities.
When it comes to the big questions about how to build a better Verizon, powerful answers exist within the minds and hearts of our employees. Unleashed, these answers empower our employees and help our customers meet the challenges of everyday life. From mobile garages that take the place of 10 technician vans to enhanced wireless call center technology, our employees are raising the bar on innovation within our industry — and beyond.
In 2012, Verizon employees submitted more than 25,000 bright ideas for improving Verizon, resulting in significant savings and efficiencies gained. In 2013, employees will be challenged to look further, collaborate more and deliver even more powerful answers.
Open, candid and direct communications is foundational to our culture and highlighted in our Credo. That philosophy drives our communications approach, starting from the very top of the organization.
Chairman and CEO Lowell McAdam holds quarterly all-employee webcasts, where he provides updates on the company’s progress toward its strategic objectives, fields employee questions and recognizes employees who are putting our Credo into action by going “above and beyond” to serve customers and improve our financial results.
Verizon Wireless President and CEO Dan Mead, Verizon Enterprise Solutions President and CEO John Stratton, and Verizon Consumer and Mass Business Markets President and CEO Bob Mudge join McAdam on the webcast and summarize the performance of their business units. Chief Financial Officer Fran Shammo also participates, providing employees with an overview of quarterly financial results, the perspective from Wall Street and an update on shareowner value creation.
Throughout the year, many leaders across the business hold employee webcasts, focusing on strategic goals for their organizations and engaging their employees in the discussion. In total, the leadership team held 91 webcasts in 2012, up from 79 the year earlier.
In addition to webcasts, McAdam and other senior leaders continue the dialog with employees at regular face-to-face town hall meetings held at U.S. and international locations.
A primary communications channel for employees is VZWeb, a vibrant, interactive intranet that is accessible globally. VZWeb is personalized, providing employees with daily information about the company and industry at both the enterprise and local level. Through VZWeb, employees have access to
Video also has a primary role in content delivery and education for employees. Verizon’s Corporate TV Studio produces online video programming to support the senior leadership team, foster a customer-first corporate culture and showcase teams that are coming up with the most innovative answers to our customer’s communications challenges. In total, the studio produced 331 videos that were posted to VZWeb in 2012, and total online employee views reached more than 1.5 million.
Living up to our Credo and Corporate Values requires that we maintain a continuous and candid dialog with the unions which represent some of Verizon’s employees. We communicate periodically with union leaders about the state of our business, strategic plans and marketplace realities as our Credo calls for “communicating openly, candidly and directly since any other way is unfair and a waste of time.” We believe this is essential for maintaining an honest working relationship with the unions, which is beneficial for our employees, customers and shareowners.
We have a long history of working with the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW) — the two main unions that represent about 53,000 Verizon employees. These employees are covered by 56 collective-bargaining agreements.
In 2012, we completed a 15-month bargaining process that resulted in important new agreements covering about 43,000 employees in our Mid-Atlantic and Northeast operating areas. The agreements continue Verizon’s history of providing good jobs with competitive wages, valuable benefits and affordable quality healthcare that rate among the best in our industry. They also provide new flexible work rules that are more appropriate for today’s rapidly-changing and highly competitive tech markets which will lead to more efficient operations and better customer service. The new agreements will run through Aug. 1, 2015.
Verizon’s other primary union contracts are in Texas, California and Florida. The Texas contract, which covers about 2,000 employees, was scheduled to expire Aug. 11, 2012, but was extended indefinitely while negotiations continue. The California contracts cover about 4,200 employees with an expiration date of March 9, 2013 and have been extended indefinitely as negotiations continue. The Florida contracts cover about 2,900 employees with an expiration date of July 27, 2013.
Our recently achieved contracts in the East demonstrate that difficult and challenging negotiations can still result in agreements that continue to provide good paying jobs for employees with valuable benefits while making essential changes that are needed for the company and our employees to continue to grow our business together by delivering high-quality communications services that our customers value.
Safety is a top priority at Verizon. We are committed to ensuring that all employees have a safe and productive work environment. We work continuously to keep safety top-of-mind and to enhance our procedures as part of making safety an integral part of our workplace culture.
Our overall safety performance on a key metric as measured by the Bureau of Labor Statistics (BLS) places us among the leaders for safety in our industry. In 2012, our Occupational Injuries & Illnesses Rate for U.S. Operations was 1.35 per 100 employees, well ahead of the BLS telecommunications industry standard of 2.10 and approximately 6 percent better than the prior year. Our safety performance is a direct result of our comprehensive safety management process.
Beyond our safety management processes, we strive to create a Culture of Safety among all employees across Verizon through our BE SAFE behavior-based program. The focus is on raising safety awareness, encouraging safe behaviors and creating personal accountability for safety. The principles of our BE SAFE Program have been integrated into our culture, and we continuously communicate to employees about the Be SAFE principles to ensure they are a standard part of how we work.
(per 100 employees)
We encourage sustained community service through matching gifts and employee volunteer efforts. Since 2000, more than $326 million has been donated through employee gifts and the Verizon Foundation match. During this timeframe, more than 6.8 million hours of volunteer service has been given by employees, and 41,000 community nonprofits have benefitted from our employee’s support.
Volunteer Grants: Employees who log 50 or more volunteer hours with an eligible nonprofit organization or school can apply for a $750 grant for that group.
Matching Gifts to Nonprofits: The Verizon Foundation matches employee donations dollar for dollar, up to $1,000 per year to eligible nonprofit organizations and schools.
Matching Gifts to Colleges and Universities: The Verizon Foundation also matches employee and retiree donations up to $5,000 per year to accredited colleges and universities.
Team Fundraisers: Teams of 10 or more employees who each raise funds and participate in a cause-related walk/run/bike event with an eligible non-profit or school can apply for a grant that matches their fundraising up to $1,000 per team member and up to $10,000 per event.
Disaster Relief and Recovery Programs: The Verizon Foundation matches employee donations dollar for dollar, up to $1,000 per year to designated disaster relief organizations to assist communities around the globe in the aftermath of natural disasters.
Cause Collection Campaigns: Verizon employees participate in campaigns to collectively contribute time, money, and material goods to designated nonprofit organizations and schools throughout the year.