NEW YORK -- Verizon has been named to Working Mother magazine's 2006 list of 100 Best Companies. The only telecom company on the list, Verizon was cited for its continuing commitment to working mothers and its family-friendly benefits and policies.
Verizon Communications and Verizon Wireless, the corporation's wireless arm, filed a joint entry.
"Verizon is exceptional for its continuing commitment to working mothers, and we salute them for making the 100 Best," said Carol Evans, CEO of Working Mother Media, the magazine's parent company. "Every year we see companies upping the ante, establishing new paradigms for quality of life among their employees and redefining the status quo for workplaces across the country. Among the many worthy entrants, the winners really set the gold standard."
In surveying the companies that applied for this year's list, Working Mother gave particular weight to whether the companies provide two key benefits: flexible scheduling, the most critical benefit for working mothers; and leave time, which is essential for parents who need to take time off from work to deal with family issues.
Verizon offers a wealth of benefits for working parents with children ranging in age from infants to college students. For example, employees returning to work after the birth of a child, adoption or any leave covered by the Family Leave Act have the flexibility to work on a reduced schedule while retaining full benefits for up to six months, and in some cases 12 months.
"We strive to create programs and preserve a culture that help our working parents strike a balance between the demands of home and work, because it's the right thing to do for our employees and for our business," said Magda Yrizarry, Verizon's vice president of workplace culture, diversity and compliance. "It's an honor to be named a Working Mother Magazine 100 best company, and one we accept on behalf of Verizon's working parents."
To apply for the Working Mother 100 Best, Verizon provided Working Mother magazine with detailed information on seven areas of work/life balance: workforce profile, compensation, child care, flexibility, time off and leaves, family-friendly programs and company culture. The survey checked the availability, tracking and usage of programs to support working mothers; the accountability of managers to implement programs; and the successful advancement of women into top-paying jobs, board position and management ranks. Verizon was also required to submit benefits handbooks and supporting documentation.
The complete list of the 2006 Working Mother 100 Best Companies can be found at www.workingmother.com.
Earlier this year, Working Mother magazine also named Verizon Communications a Best Company for Women of Color, a list of 12 companies with cutting-edge policies and practices that support African-American, Asian-American, Latina and Native-American women in the workplace.
In August, Verizon was among the Top 13 companies in LatinaStyle Magazine's list of 50 Best Companies for Latinas and No. 7 on Hispanic Business' Top 50 Companies for Hispanics. BusinessWeek recently ranked Verizon No. 11 on the magazine's list of Best Places to Launch a Career.
Also in 2006, Verizon was ranked No. 1 on DiversityInc Magazine's Top 50 Companies for Diversity list, a list on which Verizon has earned a Top 10 ranking each of the last three years. The Women's Business Enterprise National Council named Verizon among the top American corporations for women's business enterprises. Verizon's goal is to increase year-over-year spending with companies that are owned by minorities, women or disabled veterans -- business enterprises that did $2.17 billion worth of business with Verizon in 2005.
Verizon Communications Inc. (NYSE:VZ), a Dow 30 company, 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 nearly 55 million customers nationwide. Verizon Business operates one of the most expansive wholly-owned global IP networks. Verizon Telecom is deploying the nation's most advanced fiber-optic network to deliver the benefits of converged communications, information and entertainment services to customers. Based in New York, Verizon has a diverse workforce of more than 252,000 and generates annual consolidated operating revenues of approximately $90 billion. For more information, visit www.verizon.com.
About Working Mother
Founded in 1979, Working Mother magazine reaches nearly 3 million readers and is the only national magazine for career-committed mothers. Its 21-year signature initiative, Working Mother 100 Best Companies, is the most important benchmark for work/life practices in corporate America. The publication also releases the annual list of the Best Companies for Women of Color in the June issue. Working Mother is published by Working Mother Media (WMM), which also owns the National Association for Female Executives (NAFE), NAFE Magazine, the annual 100 Best Companies WorkLife Congress, as well as the Best Companies for Women of Color Multicultural Conference and regional Town Halls. This year, WMM launched its Best Small Companies for Working Mothers initiative.