Ivan Seidenberg
Chairman and CEO
Magda Yrizarry
Vice President
Workplance Culture
Diversity and Compliance
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Why It's on the Top 50: A top 50 mainstay and last year's No. 1 company, Verizon is particularly strong in Human Capital and Corporate Communications. The company has mandatory diversity training for its entire work force, which only 58 percent of the Top 50 have.
From Chairman and CEO Ivan Seidenberg: "At Verizon, everybody plays and everybody wins." (Read more from Ivan Seidenberg on page 130 of the November 2006 issue of DiversityInc magazine)
Diversity Strengths: The company has strong work/life benefits and thorough means to measure diversity in every area. Human Capital stands out, with unbiased management retention, which means it's equal across race/ethnicity and gender. Twenty-seven percent of its board of directors is people of color, compared with 18 percent for the Top 50. Thirty-nine percent of its managers are people of color, compared with 25 percent for the Top 50. Of women managers who receive promotions, 43 percent are women of color, compared with 31 percent for the Top 50.
Recent Diversity Success:
Last year, Verizon increased its supplier-diversity investment by 14.4 percent, purchasing nearly $2.6 billion from these suppliers.
More DiversityInc Articles on Verizon Communications:
Employee-Resource Groups: The Hidden Assets
Get 4 Business Benefits by Reading This
Why Would I Want to Work There?
Helping Others on Thanksgiving
5 Reasons to Give to Diverse Groups
How 3 Companies Reach a $220-Billion Market
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Top 50 Rank: 6
Specialty Lists: No. 3 on the Top 10 Companies for African Americans, No. 8 on the Top 10 Companies for Recruitment & Retention
Industry: Telecommunications
Main Competitors: AT&T, Qwest, Sprint Nextel
U.S. Headquarters: New York, N.Y.
Number of U.S. Employees: 242,000
Annual Revenue: $88 billion
% of Operations Outside U.S.: 4.5 percent
Key Personnel: Ivan Seidenberg, chairman and CEO; Dennis Strigl, president and COO; Magda Yrizarry, vice president, workplace culture, diversity and compliance (Magda Yrizarry was a presenter in DiversityInc's Webinar on employee-resource groups. You can read more from Yrizarry in Get 4 Business Benefits by Reading This)
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