Verizon opens doors to champion women and confront ongoing crisis
March 05 2021 - 9:00AM
Today, Verizon announced Verizon Women’s CoLab, a new effort to
support women amid the current crisis of women leaving the
workforce at unprecedented rates. The initiative will span support
for Verizon’s key stakeholders - customers, employees and society
at large. A recent survey by Morning Consult, commissioned by
Verizon, stressed that women are leaving the workforce as a result
of burnout due to the pandemic and having to juggle additional
home-life responsibilities.
As part of the platform, Verizon Business will launch mentorship
networks, free resources and training aimed at supporting women
small business owners and entrepreneurs. Verizon Business is
kicking off this effort with a call to action on social media March
10th, #WomenOwnWednesday, to highlight women doing extraordinary
things and encouraging everyone to support women-owned businesses
every Wednesday.
In a letter sent to employees today, Verizon leaders emphasized
how the setbacks that women have experienced in the wake of
COVID-19 run the risk of unraveling decades of hard-earned
progress, stating that women’s careers are not expendable in a
crisis. The three co-signers, Tami Erwin (Chief Executive Officer,
Verizon Business), Christy Pambianchi (Chief Human Resource
Officer, Verizon) and Rima Qureshi (Chief Strategy Officer,
Verizon) are calling for Verizon’s partners to join this effort to
create a future of work that works for all women.
- Verizon Women’s CoLab is a collaborative
career engine for women everywhere. It brings together resources to
succeed, both during the pandemic and beyond and in an increasingly
digital world. Participants will get access to trailblazing
leaders, best-in-class development resources and an array of tools
to remain in the workplace and thrive. Verizon Women’s CoLab will
launch later this year.
- Women Own Wednesday Social Campaign will
spotlight women entrepreneurs and small business owners throughout
the country who are making meaningful contributions within their
communities. Verizon Business is launching #WomenOwnWednesday, a
social media campaign that encourages society to support
women-owned businesses every Wednesday. The campaign will kick-off
on Wednesday, March 10, 2021.
- Verizon Business Women’s
Leadership Digital Summit will convene later this year,
bringing together women of the global workforce—executives,
business owners, essential workers, global decision makers.
Verizon Business Women in the
Workforce key findings:
- Among women who voluntarily left the workforce due to the
pandemic, 68% say burnout was a driving factor.
- 73% of working women view employer-sponsored resources (such as
training and development programs) as important for supporting
employees who are balancing personal and work obligations amid the
pandemic, yet only 39% say their employer currently offers
this.
- 64% of working women surveyed view mentorship programs for
employees to connect with one another as important, yet only 21%
say their employer offers this.
- Nearly 2 in 3 women (62%) who aren’t currently working but plan
to re-enter the workforce in the future say they’ll be looking for
a job in a field that offers more opportunity for skill development
and advancement.
- 80% of women who plan to re-enter the workforce in the future
are largely concerned about the state of the economy limiting their
opportunities. 72% are concerned about difficulty finding a job
that matches their existing skill set.
- 78% of women surveyed say they trust their friends and
family for support and resources related to professional
development and career guidance; 60% of women say they trust
individuals in their professional network.
Verizon Women’s CoLab builds upon several of
the company’s initiatives to champion women’s advancement,
including Verizon’s Women in Business, which launched in June 2020
to support women-owned businesses and has since provided valuable
resources for women and minority-owned small business owners and
entrepreneurs. Through a partnership with the National Association
of Women Business Owners (NAWBO) and CircleAround, the program has
included one-to-one mentorship, industry-specific panels and
content celebrating the achievements and lessons from women small
business owners.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is one of the world’s leading providers of
technology, communications, information and entertainment products
and services. Headquartered in New York City and with a presence
around the world, Verizon generated revenues of $128.3 billion in
2020. The company offers data, video and voice services and
solutions on its award-winning networks and platforms, delivering
on customers’ demand for mobility, reliable network connectivity,
security and control.
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Media contacts: Claudia
RussoClaudia.russo@verizon.com201-400-5325Rebecca Laming
Rebecca.laming@verizon.com908 227 7886
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