Diversity, equity, and inclusivity (DEI) in an organization are fundamental to bringing unique perspectives and ideas to create innovative, productive, and resilient enterprises. DEI adds to equality of opportunity and treatment in the workplace at all stages of the employment relationship, including recruitment, retention, promotion, remuneration, and access to training and skills development.
The gender gap in organizations has narrowed over the past three decades, giving more effortless labour mobility worldwide. There has also been an increasing global awareness regarding the right to a dignified and respectful workplace irrespective of sexual orientation and ethnicity of the employees, which promotes an open and inclusive workplace. However, labour market disruption due to the COVID-19 has had devastating consequences globally. According to International Labour Organization (ILO), women’s employment declined by 5% globally in 2020 compared with around 4% for men.
The technology industry is working towards closing the gender gap and enhancing inclusivity in the years ahead. Technology companies thrive on creating flexible work and well-being programs such as free mental health counseling and childcare to promote positive work culture.
Verizon Communications Inc (Verizon) provides communications, information, and entertainment products and services. In 2021, the technology company reported 33.1% women participation in its workforce, a decrease of 0.6 percentage points over 2020. At the senior management level (vice president level and above), representation of women globally increased to 38.7% by 0.8 percentage points over 2020.
In 2021, the representation of Asian American employees in the US Verizon workforce was 8% which decreased 1.4 percentage points from 2020. Black & African American and Hispanic & Latinx employees represented 20.1% and 11.9% of the US workforce, respectively.
In 2021, Verizon spent around $5.5 billion in goods and services with diverse suppliers, including minorities, women, veterans, service-disabled veterans, LGBT, and disability-owned businesses.
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