NEW YORK, Feb. 20, 2013 /PRNewswire/ -- Verizon is ranked No. 1 on Training magazine's latest 2013 Training Top 125 rankings of companies that have the best training programs for their employees. This is the second consecutive time Verizon has achieved the top ranking and the 12th consecutive year the company has been named to the list. Verizon has been ranked in Training's Top 10 for four consecutive years.
The Top 125 rankings are based on several 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.
Training magazine cited Verizon's implementation of Verizon Lean Six Sigma in 2012 as a key factor in the company's continued strong showing in the rankings. VLSS, which aims to improve the company's processes to help increase profitability and drive shareholder value, has already helped Verizon save several million dollars in just the first year of implementation.
"To be recognized at the top of Training magazine's rankings is both an honor and a reflection of the investment we have made as a company in our people," said Magda Yrizarry, chief talent and diversity officer at Verizon. "Having a highly trained and skilled workforce is good for our employees, customers and shareholders, and helps build strong leaders for the future across all of Verizon's business units."
The publication also cited Verizon's innovative use of technology and social media e-learning tools to help further the learning and development of its employees. For example, more than 2,800 videos logging more than 2 million views have been posted by employees to the company's intranet video site, VZTube. The videos help employees show one another how they perform certain tasks or solve certain common problems, which enables an interactive viral learning setting.
In 2012, Verizon invested nearly $300 million in the development, education and training of its employees, as well as nearly $100 million in tuition assistance to over 23,000 employees.
Verizon's application to Training magazine's Top 125 list for 2013 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 13th year, were honored on Feb. 18 at the Training Top 125 gala, held during the Training Conference and Expo in Orlando, Fla.
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 more than 98 million retail 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 nearly $116 billion in 2012 revenues, Verizon employs a diverse workforce of 183,400. For more information, visit www.verizon.com.
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