Verizon is ranked No. 1 on Training magazine's latest Top 125 list of companies that have the best training programs for their employees. This is the first time Verizon has achieved the top ranking and the 11th consecutive year the company has been named to the list. Verizon was also one of five companies recognized for Best Practices. Last year, the company was ranked No. 3 on the list.
The Top 125 includes rankings based on a myriad of benchmarking statistics such as effectiveness, impact on the business, total training budget, percentage of payroll, number of training hours per employee program and workplace surveys.
"Verizon is committed to building a business as good as our networks and to do that we depend on our highly skilled and committed employees," said Marc Reed, executive vice president and chief administrative officer at Verizon. "This award reflects the investment we have made in our people and our learning-management system."
Last year, Verizon employees logged more than 9 million training hours to advance their ability to deliver the best customer solutions and deliver the full benefits of the nation's most advanced broadband networks. For example, Verizon devoted more than 60,000 hours to train frontline sales and service representatives to use 4G LTE technology and devices as we continue to roll out our 4G LTE network.
Training magazine also recognized Verizon's efforts to advance a culture that drives shareholder value creation. In partnership with Duke Corporate Education, the program launched last year with Verizon's senior leader team and will expand to other employee groups globally. The program helps employees understand how to drive long-term value creation and gives them the tools, framework and metrics to analyze how their decisions and actions affect shareholder value.
The magazine cited Verizon's use of technology as an effective way to deliver quick online and on-demand training lessons to employees. The company uses videos, podcasts, blogs, and its enterprise learning-management system to deliver the right information to the right people at the right time, no matter where they are. The company offers more than 14,000 courses in a variety of formats, from classroom to self-directed learning online.
In 2011, Verizon invested nearly $300 million in the development, education and training of its employees, as well as nearly $100 million in tuition assistance to 31,000 employees.
Verizon's application to Training magazine's Top 125 list for 2012 contained data from the company's largest business groups. The February issue of the publication lists the companies on the Top 125 list and features Verizon executives explaining the company's approach to educating, developing and training employees.
Winners of the Training Top 125 award, now in its 12th year were honored on Feb. 13 at the Training Top 125 gala, held during the Training 2011 Conference and Expo in Atlanta.
Verizon is committed to being an employer of choice. To learn more about Verizon as a great place to work, visit www.verizon.com/jobs.
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.