NEW YORK - Working Mother magazine today announced it has named Verizon Communications a 2007 Best Company for Working Mothers. Verizon was the only telecommunications or cable company on the magazine's list, which recognizes companies that have family-friendly benefits and policies that help working mothers strike a balance between their professional and home lives.
This is the seventh consecutive year that Verizon has been named to Working Mother's 100 Best Companies list.
"As a working mother myself, I understand how absolutely essential it is for companies to find ways to nurture the personal and professional lives of employees," said Suzanne Riss, the editor in chief of Working Mother magazine. "I commend Verizon for conceiving and effectively implementing programs and benefits that offer an inspiring paradigm for the rest of corporate America: It is possible to be both family-friendly and financially successful."
Verizon was selected for the 2007 Working Mother 100 Best Companies based on an extensive application of 575 questions. The application included detailed questions about workforce, compensation, child-care and flexibility programs, leave policies, and more. It also checked the usage, availability and tracking of programs, as well as the accountability of managers who oversee them.
Seven areas were measured and scored: workforce profile, compensation, child care, flexibility, time off and leaves, family-friendly programs, and company culture. For this year's 100 Best, particular weight was given to flexibility and family-friendly policies. The magazine made special mention of Verizon's paid maternity leave program and a scholarship program that pays up to $20,000 for the college expenses of children and dependants of company employees.
"It makes great business sense to offer family-friendly benefits and policies," said Magda Yrizarry, Verizon vice president for workplace culture, diversity and compliance. "To deliver premier customer care and consistently develop the innovative products and services our customers demand, we must help our employees find a balance between work and home. Our commitment to our employees is a big part of why Verizon is a great place to launch and build a career."
Earlier this year, Working Mother magazine also ranked Verizon among the Best Companies for Multicultural Women. Verizon was among 20 companies with cutting-edge policies and practices that support African-American, Asian-American, Latina and Native-American women in the workplace.
For the fifth consecutive year, LATINA Style magazine ranked Verizon among the Best Companies for Latinas to Work. Verizon was the only telecommunications or cable company to make BusinessWeek's 2007 list of Best Companies to Launch a Career.
Also in 2007, Verizon ranked No. 6 on DiversityInc magazine's list of Top 50 Companies for Diversity. The Women's Business Enterprise National Council (WBENC) again named Verizon one of the top American corporations for women's business enterprises.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 62 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon has a diverse workforce of more than 238,000 and last year generated consolidated operating revenues of more than $88 billion. For more information, visit www.verizon.com.