For the eighth consecutive year, the National Association of Female Executives has named Verizon Communications to the organization's NAFE Top 50 Companies for Executive Women. The list recognizes organizations that are committed to hiring, retaining and promoting executive women. At the 2012 NAFE Top Companies, women executives run 23 percent of operations that generate more than $1 billion in revenue.
The Top 50 list is being published in the February/March issue of Working Mother magazine.
"With a solid leadership training curriculum, development courses, mentoring circles, executive coaching and a wealth of external initiatives, Verizon Communications has its bases covered when it comes to programs that encourage the advancement of women," said Dr. Betty Spence, NAFE president.
Magda Yrizarry, Verizon's chief talent and diversity officer, said, "Verizon works hard to foster a diverse and inclusive corporate culture that maximizes the talents of employees from all backgrounds. As women continue to ascend in business, it is essential that we utilize their skills to continue providing the innovative products and services our customers expect from our 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. Women also comprise 25 percent of Verizon's Board of Directors.
The 2012 NAFE Top Companies' application included more than 250 questions on topics including female representation, hiring, attrition and promotion rates, access, and usage of key retention and advancement programs. The application draws particular attention to the number of women at the highest ranks and those with profit-and-loss responsibility. To be considered, 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, for the ninth consecutive year, Verizon earned the No. 8 spot on the Latina Style 50, LATINA Style magazine's list of the best companies for Latinas. In addition, Working Mother magazine has recognized Verizon as a Best Company for Multicultural Women for six straight years (every year of the ranking), and for eleven years in a row as a Best Company for Working Mothers.
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 consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with nearly 109 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of nearly 194,000. For more information, visit www.verizon.com.
The National Association for Female Executives (NAFE), founded in 1972 serves 20,000 members nationwide with networking, tools and solutions to strengthen and grow their careers and businesses. Working Mother magazine publishes the annual Top Companies and the Women of Excellence lists. NAFE.com provides up-to-date information, community for women in business and access to member benefits. NAFE is a division of Working Mother Media, owned by the Bonnier Corporation. 2012 marks the 40th anniversary of NAFE.