For the seventh consecutive year, the National Association of Female Executives has named Verizon to the organization's NAFE Top 50 Companies and 10 Nonprofits for Executive Women. The list recognizes organizations whose policies and practices encourage women's advancement and whose numbers at the highest levels of leadership demonstrate that commitment.
According to NAFE, 2011 marks an important milestone: At the 2011 NAFE Top Companies, women executives run 23 percent of operations that generate more than $1 billion in revenue.
"Verizon offers succession planning and high-potential identification programs that are moving women into top positions," says Dr. Betty Spence, NAFE president. "NAFE congratulates Verizon on ensuring that they tap their female talent, the mark of a NAFE Top Company."
Women comprise approximately 40 percent of Verizon's global workforce and hold more than 30 percent of leadership positions, including key roles in finance, government relations, IT, network services, sales, marketing, human resources and the Verizon Foundation, the company's philanthropic arm.
NAFE will honor each of the Top Companies at a luncheon in New York on March 30. Prior to the event, senior women executives who have profit-and-loss responsibilities at the NAFE Top Companies will meet at the closed-door NAFE Roundtable to discuss critical business issues. A report will be published in NAFE magazine.
The 2011 NAFE Top Companies application included 225 questions on such topics as female representation, hiring, attrition and promotion rates; access and usage of key retention and advancement programs such as mentoring, executive coaching, networking and sponsorship; company culture; and manager training and accountability. The application drew particular attention to the number of women at the highest ranks and those with profit-and-loss responsibility. To be considered for the NAFE Top Companies for Executive Women, companies must have a minimum of two women on their board of directors as well as at least 500 employees in the U.S.
Verizon has received numerous honors for the advancement of women and support for working mothers. Last year, Verizon earned the No. 4 spot on the Latina Style 50, the eighth consecutive year that LATINA Style magazine named the company a Best Company for Latinas. Working Mother magazine has recognized Verizon as a Best Company for Multicultural Women for five straight years (every year of the ranking), and for ten years in a row as a Best Company for Working Mothers. Earlier this year, Training magazine ranked the company No. 3 on the publication's annual list of Top 125 companies with the best training and development programs for employees.
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving 94.1 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 194,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.