Verizon Wireless is keeping its employees longer by keeping them educated.
The Basking Ridge, N.J.-based company pays tuition for employees to earn business-related degrees. Those who partake stay with the company longer than employees who don’t take advantage of tuition assistance, says Lou Tedrick, vice president of the company’s work force development staff.
The organization’s 70,000 employees also go to school at work. Each customer service rep completes up to seven weeks of training, while sales reps do three to four months.
Employees don’t get the training just as new hires; they spend four to eight hours every month learning about new products and services, and new ways to use company resources to sell and service customers, says Tedrick.
Tedrick contends the in-house training leads employees to work better with the company’s 65.7 million customers. It’s such a priority for the firm that it devotes 900 full-time trainers and 800 subject-matter experts to the task.
The promise of training and tuition assistance also helps with recruiting, Tedrick says. “We’re getting good people, we’re educating them and we’re keeping them,” he says.
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