This post is co-authored by TriNet Sales Consultant Eric Taveras (U.S. Army Sergeant, Retired ’09) and TriNet Executive Director of Channels & Alliances Jack Speece (U.S. Army Captain, Retired ’03)
Emphasizing the hiring of veterans has been a trend in business for several years, with such corporate heavy-hitters as Walmart, Starbucks, UPS, Home Depot, Target, McDonald’s and Amazon each making commitments to hire more vets. TriNet stands proudly among these companies. It is especially crucial for the U.S. economy that organizations embrace service men and women in the civilian job market as roughly 250,000 service members a year will leave the military over the next five years.
Aside from the initiatives on the corporate side, there are dozens of programs run by government and nonprofit organizations that help veterans transition into civilian careers. These programs provide everything from skills assessment and resume-building to job search support and career coaching.
We talked in a previous TriNet blog post about the interpersonal characteristics that make military veterans such great choices for resource-strapped small businesses. These characteristics include leadership skills, dependability, adaptability, resourcefulness and work ethic. We know, from first-hand experience, that those with a U.S. military background typically have these traits ingrained into their core.
However, there are additional incentives to businesses—incentives many don’t know about—for hiring veterans. We’ll turn to these now.
Hiring veterans affects your pocketbook
We’ve already made the case that veterans can be a great addition to any growing business, but hiring vets can save you big through the many government tax credits available to employers:
The combination of tax breaks and employment advocacy has helped drop the veteran unemployment rate to 2.7%, (as of October 2017), its lowest since 2000. For more information on military tax credits, please visit Military.com.
Additionally, various states and locations often offer incentives—including cash payments—to companies that hire veterans. Contact your HR services provider to help find those that would apply to your business.
Hiring veterans is a long-term strategy
As military vets who have found success transitioning into civilian work after our service, we both understand the struggle veterans face finding meaningful employment that allows them to use their unique training and skills. Many companies seem to pay lip service to their programs to hire veterans but, unfortunately, fail to give them what they really want: a fulfilling career and not just a job.
For this reason, we recommend employers who are interested in hiring veterans do the following:
As always, TriNet’s HR experts are available to answer questions and provide best practices guidance to aid in your veteran recruitment efforts.
This communication is for informational purposes only; it is not legal, tax or accounting advice; and is not an offer to sell, buy or procure insurance.
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