Verizon’s award-winning Supplier Diversity Managers program has hired 20 investment firms owned by people of color to manage more than $1 billion of its assets.

“It’s the network” isn’t just an advertising slogan for this major wireless, wireline and broadband services provider—it’s also the secret to the company’s success. Verizon pursues employees who bring a wealth of knowledge and experience to the table and considers diversity essential to that mission. Today, 26% of its new hires are women of color, as are 15% of its top earners. Multicultural female leaders like Jeannie Diefenderfer (VP of global operations for business) and Magda Yrizarry (chief diversity officer) often stay with the company for several decades. Even more impressive: Some 10% of multicultural women execs host mentoring circles to support the next generation. And in the ultimate seal of approval, senior leaders, including CEO Ivan Seidenberg, have tied 5% of their pay to how well they achieve diversity goals.

Multicultural Women: 18%

Multicultural Women Managers/Execs: 9%

Chief Diversity Officer: Magda Yrizarry

Hires who are multicultural women: 26%

Hires who are multicultural men: 22%

Multicultural women managers/execs: 9%

Multicultural men managers/execs: 15%

Top 20% earners who are multicultural women: 15%

Top 20% earners who are multicultural men: 18%

Multicultural women on board of directors: 0%

Offers formal compensation program to reward managers who specifically help multicultural women advance: YES

Rates managers on the number of multicultural women employees advancing: NO

Uses outside recruiter to focus on finding multicultural women candidates: YES

Offers support groups specifically for multicultural women: NO

Offers mentoring programs specifically geared toward multicultural women early in their careers: YES

Offers sponsorship program specifically geared toward multicultural women early in their careers: NO