In 2009, Verizon Communications spent $120 million on its employee tuition assistance program, an increase of $2 million from the previous year.

Creating a new generation of diverse leaders preoccupies this massive broadband and communications company, which offers a variety of programs to educate and develop its multicultural women. During Insights for Success, a two-day workshop featuring sessions for top female, African-American and Latino employees, women engage in role-playing exercises that prepare them to face professional challenges and are advised by executive leaders on the best ways to map out their careers. High-potential multicultural women who attend the company’s Diversity Leadership Institute work to refine their management skills and are also mentored by corporate executives—indeed, participation in the program has been tied to 32% of promotions for all female employees. The Wireless Diversity Leaders workshop for multicultural middle managers and above has proven so engaging that 95% of its alumni remain with the company. Also in the Wireless Division, the My Backfill succession-planning program prepares women and people of color to assume key positions.

Multicultural Women 18%
Chairman & CEO Ivan Seidenberg
VP, Workplace Culture, Diversity & Compliance Magda Yrizarry

At Verizon Communications, multicultural women represent…
6% of corporate executives
7% of senior managers
14% of the top earners
24% of the company hires
23% of the company losses
70% of participants in mentoring programs
Not tracked % of participants in career counseling programs

*Denotes a member of the Top 5 Best Companies for Multicultural Women