Verizon Balance Scorecard

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Learning & Growth
Objective in the learning and growth section is the foundation for achieving the goals set in the business processes, customers, and financial sections. The investment in learning & growth holds the key to future sustainable competitive advantage and will eventually become the intangible assets of the company. As Verizon is a communication/ technology company in a fast-paced industry, it is imperative to have the capability for continuous improvement and innovation in order to achieve Verizon’s product differentiation strategy. Thus, our focus for the learning and growth section will be mainly on employees’ knowledge improvement. Objective: To retain and attract top talents

Metric: Education level of new hires (+), Comparison of average compensation to industry (+),Total annual internal promotion (+), Employee satisfaction evaluation (+) The quality of employees hired determines the quality of innovations. Therefore, it is important for Verizon to attract and retain top talents in the company in order to remain competitive in the industry. Verizon’s effort to attract top talent can be measured through the education level of new hires, which will show the company’s ability to hire competent individuals. Verizon’s effort to retain top talents can be measured through compensation comparison across the industry, total internal promotion and employee satisfaction evaluation. Competitive rewards through compensation and promotion will keep employees happy and loyal to the company. Objective: To enhance employees’ knowledge

Metric: Hours of training (+), Training passed (+), total bonus for rewarding professional certification (+) As Verizon’s business nature is closely related to technology, it is imperative for its employees to keep up with the latest update in technology in order to be able to come up with relevant innovations. Furthermore, knowledge is equally important for ensuring effective day-to-day operations, which may...
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