The benefits of hiring veterans
It’s a good business decision to hire veterans as studies have shown that veterans are more productive and have higher retention rates.
The Institute for Veterans and Military Families (IVMF) published this titled brief which draws from academic literature to suggest a robust, specific and compelling business case for hiring individuals with military background and experience.
The report details the results of a comprehensive review of academic literature from the fields of business, psychology, sociology, and organizational behavior positioned to illustrate the foundational elements around which employers can formulate a research-informed logic for recruiting and developing military veterans in the civilian workforce. The business case is based on 10 research-informed propositions on the value of a veteran in a competitive business environment.
In addition to being productive employees, the Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers who hire veterans and individuals from other eligible target groups with significant barriers to employment. Each year, employers claim over $1 billion in tax credits under the WOTC program. The success and growth of this income tax credit for business is beneficial for all who participate, while increasing America’s economic growth and productivity.
If you are interested in developing or enhancing a Veterans hiring initiative for your company, check out America’s Heroes at Work — Veterans Hiring Toolkit. This online step-by-step toolkit is designed to assist and educate employers who have made the proactive decision to include Transitioning Service Members (TSMs) Veterans in their recruitment and hiring initiatives.