Trailblazer Pacesetter LATE BLOOMER
Company Narrative
Verizon, a worldwide telecommunications company focusing on reliable service and performance, has been ranked as a LATE BLOOMER on the Women’s Power and Influence Index.
Verizon has achieved pay parity and shows a commitment to women’s careers through its program, The Women’s Association of Verizon Employees (WAVE), providing women with professional development opportunities.
As of 2021, 33% of Verizon’s workforce is women, with 38% of leadership positions being held by women.
Sufficient information on Verizon’s healthcare benefits, specifically women’s healthcare, could not be found.
Workforce Profile
Equitable Pay
✓ Does the company demonstrate a clear and transparent commitment to equal pay?
“Toward that end, we commit to identify and promote best practices in compensation, hiring, promotion, and career development, to develop strategies to reduce unconscious bias and to make hiring, promotion and compensation decisions that promote pay equity. By doing so, we believe Verizon can have a positive effect on our workforce that, in turn, makes our company stronger and delivers value to our shareholders.”
Ref: Verizon Commitment to Pay Equity 2017
✘ Does the company perform an annual analysis of gender pay equity and pay disparities?
Information regarding this criterion was unavailable or incomplete.
✓ Do female employees earn at least 95% of what their male counterparts earn?
“In 2020, we had 100% pay equity in salary for women and men across all of Verizon. In the U.S., we also had 100% pay equity in salary with respect to race and ethnicity.”
Ref: Pg. 17, Verizon Human Capital Report 2020
Career Growth
✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization?
“Verizon has been a longtime champion of increasing the presence of women and people of color in leadership positions and across the broader technology sector. We provide support systems to help all employees advance in their careers. This includes development opportunities that offer a clear path for growth while strengthening the representation of women and people of color within our leadership ranks.”
Ref: Pg. 10, Verizon Human Capital Report 2020
✓ Does the company provide professional development programs designed specifically for female employees?
“The Women’s Association of Verizon Employees (WAVE) provides women with resources for professional development. The group uses training, networking, mentoring, collaboration and volunteering to help women develop around the 4Cs — career, customer, community and culture.”
Ref: Verizon Committed to diversity and inclusion in the workplace 2019
✓ Does the company provide professional development programs designed specifically for diverse employees?
“Our employee resource groups provide a forum for professional and personal development, celebrating diversity and solving unique business challenges across Verizon’s diverse customer base. Verizon supports ten employee resource groups:
- Verizon ADVANCE – Advocates for Disability, Access, Neurodiversity and Caregiver Empowerment
- Verizon BOLD – Black Originators Leaders and Doers
- Verizon NAV – Native Americans of Verizon
- Verizon PACE – Pan Asian Corporate Excellence
- Verizon PACT – Parents and Caregivers Together
- Verizon PRISM – Lead with pride
- SOMOS Verizon – The voice of the Latinx community
- Verizon UNITED – Progress through unity
- Verizon VALOR – Veterans and Advocates Leading the Organization Responsibly
- Verizon WAVE – Women’s Association of Verizon Employees”
Ref: Verizon Diversity and Inclusion in our Workplace Web Page
✓ Does the company offer a formal mentoring program to support the career advancement of all female employees?
“The Women’s Association of Verizon Employees (WAVE) provides women with resources for professional development. The group uses training, networking, mentoring, collaboration and volunteering to help women develop around the 4Cs — career, customer, community and culture.”
Ref: Verizon Committed to diversity and inclusion in the workplace 2019
✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?
“Verizon’s enterprise-wide mentoring pilot In 2020, this program matched over 700 members of our BOLD (Black Originators Leaders and Doers) employee resource group and graduates of the Competitive Edge program with mentors based on skill and developmental priorities. Going forward, we are looking to expand mentoring opportunities for V Teamers.”
Ref: Pg. 10, Verizon Human Capital Report 2020
✘ Does the company have policies and programs in place to actively recruit female candidates?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company have policies and programs in place to actively recruit diverse candidates?
“To attract diverse talent, Verizon’s Talent Acquisition team manages various diverse recruiting efforts, including actively recruiting at MSIs, partnering with organizations that support diverse candidates in their efforts to secure employment, engaging ERGs in recruiting efforts, and providing non-traditional programs that provide potential recruits with alternative pathways for careers at Verizon. Talent Acquisition, together with the Selection & Assessment team, also have developed a hiring process that aims to minimize unconscious bias. In a further effort to attract diverse talent, Verizon has designed competitive compensation and benefits packages meant to appeal to a wide diversity of applicants.
Ref: Pg. 14, Verizon Report on the Progress of Verizon’s Diversity, Equity, and Inclusion Efforts 2023
Work-Life Balance
✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?
[1] “Verizon is currently in conversation with partner organizations and businesses for how the coalition might give assistance to the community in a holistic, change-driven way, including by improving access to and eliminating disparities regarding quality education, adult education, childcare, financial services, and healthcare. Verizon’s goal is to work in partnership with change-makers who are on the ground in the community.”
[2] “We focused on addressing the root of the challenge—childcare and flexible work arrangements. First, we introduced a COVID-19-specific leave of absence policy called the Caregiver Leave program for employees unable to work as they care for loved ones.”
[1] Ref: Pg. 49, Verizon Report on the Progress of Verizon’s Diversity, Equity, and Inclusion Efforts 2023
[2] Ref: Pg. 24 Verizon Human Capital Report 2020
✘ Does the company provide child care support for employees?
Information regarding this criterion was unavailable or incomplete.
✘ Does the company offer subsidized child care?
Information regarding this criterion was unavailable or incomplete.
✓Does the company offer paid maternity leave for birthing parents?
[1] “Yes. Verizon Parental Leave provides eligible employees with up to eight weeks of leave, paid at 100% of base pay, to bond with a newborn or newly adopted child.”
[2] “In the U.S., eligible expecting moms are eligible for up to 16 weeks of paid maternity leave between short-term disability and parental leave. We also offer fertility benefits for eligible employees and increased the lifetime amounts from $20,000 to $75,000.”
[1] Ref: Verizon Career FAQs and Job FAQs Web Page 2023
[2] Ref: Pg. 18, Verizon Human Capital Report 2020
✓Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?
“Welcoming a new member of the family is an exciting time, and we want our expecting V Teamers to make the most of this joyous occasion. Verizon offers eligible parents in the U.S. – moms and dads – up to eight weeks of leave, paid at 100% of base pay, to bond with their newborn or adopted (new to family) child. For eligible employees, parental leave is available beginning on the first day of employment.”
Ref: Pg. 18, Verizon Human Capital Report 2020
✘ Does the company demonstrate a commitment to supporting the health benefits of its female employees?
Information regarding this criterion was unavailable or incomplete.
✘ Does the company offer women-specific health benefits for female employees?
Information regarding this criterion was unavailable or incomplete.
Workplace Standards
✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?
“Verizon is committed to a workplace free from unlawful discrimination and harassment and will not tolerate discriminatory or harassing behavior of any kind. This commitment extends beyond that which may be required by law and Verizon strives to maintain a work environment totally free from discrimination or harassment. This zero tolerance policy applies to any conduct that has the purpose or effect of creating an intimidating, hostile or offensive work environment.”
Ref: Verizon Equal Opportunity/Affirmative Action Policy for U.S. Based Employees 2023
✓ Does the company mandate all employees to undergo harassment and discrimination training?
[1] “In accordance with state law requirements, Verizon provides additional state-required training on sexual harassment and discrimination. The trainings cover sexual harassment, discrimination, and harassment, as well as content related to protected groups, sexual orientation, and gender identity. The trainings also include information on the reporting process and obligations to report. Depending on state requirements, employees take the trainings annually, bi-annually, or only upon onboarding.”
[2] “We continue to introduce new learning pathways that cement our workplace as one that values diversity, equity and inclusion. We provide all of our employees with unconscious bias training and encourage our people leaders to participate in a conscious inclusion and anti-racism course. We also offer allyship skills training, which helps V Teamers understand concepts such as bias and microaggressions.”
[1] Ref: Pg. 21, Verizon Communications Inc on the Progress of Verizon’s Diversity, Equity, and Inclusion Efforts
Ref: Pg. 39, Verizon ESG Report 2022
✓ Does the company have a defined harassment policy that includes promptly addressing reported incidents?
“In cases involving safety or suspected misconduct (for example, investigating claims of sexual harassment, workplace violence, or suspected theft), the company reserves the right to monitor or inspect, without notice, any company property or any personal property on company premises that may contain evidence of misconduct, consistent with applicable law or any local data privacy notice. With respect to company provided or paid for communications devices or accounts, the company may, as permitted by law or any local data privacy notice, access any stored information (whether on the device, our servers or with a third-party) that may contain evidence of misconduct, and employees are required to cooperate, including by providing access to the information, when requested by the Legal Department or its designee, or Security.”
Stakeholder Engagement
✓ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?
“We regularly engage with diverse stakeholders on issues at the intersection of technology and human rights.”
Ref: Verizon Human Rights Commitment at Verizon Web Page 2023
✓ Does the company offer and support initiatives that promote gender equality in the community?
“Verizon sponsors multiple diversity-focused initiatives to widen our reach and support across communities. [1] Two examples of our commitments include: We are a charter member of the Billion Dollar Roundtable (BDR), a consortium of 28 companies that spend at least $1 billion annually with minority-owned suppliers, including women-, veteran- and LGBTQ+- owned businesses. Over the past 10 years, our spend with diverse suppliers totals more than $50 billion. [2] We launched our Future Fund, a $5 million commitment to support new and emerging female talent across the entertainment and technology sectors. In addition to funding, recipients have access to production facilities and distribution opportunities across the Verizon Media ecosystem. As part of this commitment, we supported the development of MAKERS’ Not Done: Women Remaking America, a PBS documentary that aired in October 2020.”
Ref: Pg. 15, Verizon Human Capital Report 2020
✓ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?
[1] “ERG members are among Verizon’s most enthusiastic volunteers, leading community initiatives around the globe focused on digital inclusion, racial and social justice and human prosperity.”
[2] “By collaborating through our Employee Resource Groups (ERGs), V Teamers find connection in their differences and similarities—empowering them to bring their whole and authentic selves every day.”
[1] Ref: Pg. 40, Verizon ESG Report 2022
[2] Ref: Verizon Our communities Verizon Careers Web Page 2023
✓ Does the company offer equity-focused trainings, speaker programs, or events for employees?
“Each ERG is also responsible for developing its own programming throughout the year. This programming may include speakers, employee activities, and volunteer efforts, either as an individual event or as part of a “Cultural Moment” or “Cultural Month.” Cultural Moments are individual days dedicated to recognizing the history of or bringing awareness to diverse groups, and Cultural Months are month-long celebrations, such as Black History Month, Women’s History Month, and Hispanic Heritage Month. The DEI team provides ERGs with logistical and administrative support for all ERG programming and has developed a resource that guides ERG leaders through the process for planning and seeking approval for these programs. Some examples of ERG programming include: “Be BOLD,” a push for BOLD’s members to participate in volunteering in December; “Share Your Pronouns With Pride,” a campaign by PRISM for Verizon employees to include their pronouns on their badges; “Conecta Tu Red,” a networking roundtable hosted by SOMOS; and a Voter Education Week Panel hosted by PACE.”