Empowering Employees

Total Salaries and Wages
(in $ billions)

Pensions and Other Payments
(in $ billions)

Tuition Assistance Program Spending
(in $ million)

Verizon is a great place to work -- a company that people are proud to say they work for and others want to join.

We hold ourselves to very high standards of performance and accountability. In return, those expectations are matched by compensation and benefits that are among the best in corporate America, lots of opportunities for learning and career advancement, and useful programs for balancing the demands of work and home.

The opportunities for personal development remain a Verizon hallmark. Our total employee development and training investment reached $371 million in 2007.

Our approach to health care is to empower our people to manage and improve their health, and that of the families, by offering access to meaningful resources and encouraging preventive care.

Better Health

• Verizon spends nearly $4 billion annually on health care, equivalent to 4 percent of 2007 revenues for approximately 900,000 Verizon employees, retirees and dependents. Ninety-four percent of eligible employees have chosen health coverage.
• Most of our health plans cover preventive and detection screenings at 100 percent but we increased efforts to raise awareness and encourage early detection by offering on-site services such as flu shots and mammography screenings.
• In selecting companies that make up our slate of health plan offerings, Verizon now weighs how they are addressing -- and reducing -- the racial and ethnic disparities in health care.

Verizon Tuition Assistance Programs

Verizon's tuition assistance programs pay 100 percent of approved tuition and fees at accredited institutions of higher education, up to $8,000 per year.

Safety

In 2007, independent audits were conducted and associated action plans for continuous improvement were put in place. There was also an increase in training, safety observations and communications throughout 2007. That will continue in 2008.

Verizon Total Training Hours, 2007

Verizon employees logged 11.5 million training hours in 2007 versus 8 million in 2006. The training covered everything from compliance issues to management techniques, but the increase in hours was largely driven by employees improving broadband-, mobile- and IP-related skills.

More Information

Employees On Active Duty

Verizon supports employees when they are called to active military duty with one of the most generous military-leave programs offered by any U.S. company.

Verizon pays the difference between an employee's military pay and Verizon pay for up to 36 months. The company also continues medical, dental, vision and group life insurance for employees and eligible dependents.

This program was extended in September 2007 by 36 months.