Human capital Learning and development
With changes in workforce needs tied to the Fourth Industrial Revolution, shifting and advancing employees’ skills is a major focus area for us. Annually, we invest hundreds of millions of dollars in initiatives to skill up employees and support their professional and leadership development. We provide employees with learning solutions that inspire, engage and enable them with the knowledge and capabilities needed today and tomorrow to deliver great customer experiences, drive revenue, growth and profitability, improve shareholder value and contribute to society.
Our learning culture includes continuous, purposeful learning that develops V Teamers to their full potential through top-notch learning programs and exceptional development experiences. In 2019:
- We invested $215.9 million in learning and development initiatives for our employees.
- V Teamers completed more than 3.5 million hours of training and had access to more than 24,600 learning experiences.
- The average number of hours of training per team member was more than 25.
Verizon ranked 11th in the Association for Talent Development (ATD) 2019 BEST Awards. The ATD BEST Awards recognize companies for best-in-class employee talent development.
In 2019, we launched Learning Portal 2.0, powered by Degreed, a lifelong learning platform that delivers personalized, curated, on-demand content supported by social collaboration. We partnered with LinkedIn Learning, Pluralsight, Harvard ManageMentor and more to enhance employee skills through videos, articles, books, group collaboration and online training.transformation, navigating change), functional specific pathways to build technical and leadership skills (e.g., global technology solutions transformation) and certification preparation for personal development and business requirements. With new learning pathways and premium content providers, Learning Portal 2.0 is constantly evolving to help our employees grow and succeed.
Emerging tech use
As a technology company, we leverage emerging tech solutions to enrich and maximize the impact of our learning programs. Examples include:
- Virtual reality and augmented reality programs on store safety, customer interactions and technical processes.
- Virtual instructor-led training through our engaging and interactive Adobe Connect 9 platform, which brings employees together from around the globe.
- Learning reinforcement through the Allego app, a video-based reinforcement tool that helps our learners retain knowledge with bite-sized content.
V Teamers are provided up to $8,000 annually through our Global Tuition Assistance Program to fund higher education studies from a wide range of accredited schools. In 2019, more than 13,000 V Teamers took advantage of our tuition assistance program. Verizon invested over $50 million in this program in 2019.