"Hiring Veterans" advertorial featured in the 11/17/14 issue of Fortune Magazine. Hiring veterans and their spouses is finally becoming a basic part of corporate strategy!
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HIring Veterans
1. PHOTOS BY LIESL MARELLI / IMAGEBRIEF
SPECIAL ADVERTISING SECTION
Hiring
veterans
and their spouses
is becoming a
basic part of
corporate strategy.
Makes sense.
Itâs the right thing
to do and itâs
good for the
bottom line.
TAPPING THE
MILITARY
TALENT POOL
2. BANK OF AMERICA
S2 www.fortune.com/adsections
SPECIAL ADVERTISING SECTION
ONCE A NICHE activ-ity
among large U.S.
employers, veteran-hiring
programs have
gone mainstream, with
a growing number of employ-ers
now competing to tap the
military talent pool.
âThe conversation has
changed. It has gone from
why hire military to how to do
it in an efficient and sustain-able
way,â says Sean Collins,
vice president for product
development at Victory Media
Inc., which produces military-focused
publications including
G.I. Jobs and Military Spouse
and data resources such as
Military FriendlyÂź.
While Fortune 1,000 compa-nies
are still leading the charge,
data collected by Victory Media
show a growing interest from
smaller companies that want
information on best practices
and innovative solutions. âWe
have seen tremendous demand
from companies in the $100
million to $500 million group,â
says Collins. âThatâs important,
because statistically that is
where most of the jobs are.â
This change in attitude can
be seen in the recent employ-ment
figures. In September, the
unemployment rate for veterans
dipped to 4.7%, down from
6.5% a year earlier. Perhaps
more significant, the number
for veterans was well below
the 5.9% rate for the general
population, according to the
U.S. Bureau of Labor Statistics.
The unemployment picture for
post-9/11 veterans has also
improved, dropping to 6.2%
in September, compared with
10.1% a year earlier.
Renewable and Reliable
With 250,000 to 400,000
service members exiting the
military each year, corpora-tions
have come to view these
veterans as a renewable source
of highly skilled labor, says
Collins. As such, the invest-ment
in recruitment programs
is increasingly seen as part of
long-term corporate strategy.
Indeed, veterans are now
considered good for the bottom
line. A recent report by the
Corporate Executive Board, a
member-based advisory compa-ny
based in Arlington, Va., finds
that veterans, on average, per-form
at higher levels and have a
lower rate of turnover than other
employees. And that, the report
says, translates directly into cor-porate
performance.
Todayâs veterans also have
skills well suited to the business
environment. âThere is data
showing that post-9/11 service
members have exceptional
training,â says Collins. âTwo-thirds
of military occupations
involve a STEM component.â In
other words, vets have had the
science, technology, engineer-ing,
and math training needed
for many of todayâs key jobs.
Veterans are also trained
to be mission-focused, calm in
the midst of chaos, good team
members, results-oriented, and
hard workers. Sometimes it
takes a little work to translate
those skills to the corporate
world. Sometimes it takes a
little bit of education. But the
results have generally been
impressive.
Bill Golden, vice president
for global banking and markets
operational risk at Bank of Amer-ica,
made his transition quickly,
retiring as an Army battalion
commander one day and start-ing
work at the bank the next. âI
did it deliberately. I didnât want
to spend time ruminating about
it,â he says. âFortunately, people
were very patient with me.â
One big adjustment, Golden
says, was the corporate em-phasis
on process. In the Army,
Bill Golden, former Army
battalion commander, is
now a vice president at
Bank of America.
âTHE CONVER-SATION
HAS
CHANGED.
IT HAS GONE
FROM WHY
HIRE MILITARY
TO HOW TO
DO IT IN AN
EFFICIENT AND
SUSTAINABLE
WAY.â
SEAN COLLINS
Vice President
Victory Media