Verizon launches Women’s CoLab in response to Covid-19 fallout

Verizon launches Women’s CoLab in response to Covid-19 fallout

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Verizon confirms the launch of Verizon Women’s CoLab, a new initiative to support women as the current Covid-19 pandemic has women leaving the workforce at unprecedented rates.

Spanning Verizon customers, employees as well as society at large, the initiative follows a recent survey by Morning Consult, commissioned by Verizon, which found that women are exiting the workforce as a result of burnout due to the Covid-19 pandemic and having to manage additional home-life responsibilities.

Other key findings from the include: 68% of women who left their jobs during the pandemic, did so due to burnout; 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, but only 39% say their employer currently offers this.

Additionally, 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.

As a result, Verizon will launch mentorship networks, free resources and training to support women small business owners and entrepreneurs. This will start with a call to action on social media March 10th, known as, #WomenOwnWednesday, which highlights women doing extraordinary things and encouraging everyone to support women-owned businesses every Wednesday.

In a letter to its employees, Tami Erwin, chief executive officer of Verizon Business; Christy Pambianchi, Chief Human Resource Officer of Verizon and Rima Qureshi, Chief Strategy Officer at Verizon, said that these setbacks caused by the pandemic risk undoing years of “ hard-earned progress” and that  “women’s careers are not expendable in a crisis”.

In addition, to the Women’s CoLab and the Women Own Wednesday Social Campaign, Verizon has also confirmed that it will hold Verizon Business Women’s Leadership Digital Summit later this year. This event will bring together women of the global workforce including, executives, business owners, essential workers, global decision makers.

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