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The unemployment rate for US military veterans has improved in recent years. In 2022, just 2.8% of veterans were unemployed, lower than that for non-veterans (3.6%), according to the Bureau of Labor Statistics.
The low unemployment rate is just one piece of the puzzle, as veterans also need support once they’re employed.
Some 40% of veterans say their biggest job-search hurdle is finding jobs that match their skills, according to a new survey of more than 5,000 US veterans by Indeed and Hiring our Heroes, an employment assistance program for veterans. Moving to skills-based hiring is one way employers can help veterans find jobs with opportunities for professional advancement, Chase O’Mahoney, leader for Indeed for Military, an ERG at the company, told HR Brew.
“It’s moving away from proxy indicators of aptitude or potential for success, like degrees and certifications,” he said. “Something we’re trying to do is better understand those skills and experiences that veterans have…and translating those experiences into a set of skills that we know that corporate employers value.”
Veterans noted in the Indeed survey that their biggest considerations when choosing a job are compensation (65%), work-life balance (59%), and remote or hybrid work options (33%). Once they’re in a job, veterans want an employee experience that shows their employer understands the military experience. This may mean offering tailored onboarding processes, and having veterans in leadership positions.
Around one-quarter (25%) of veterans note that adjusting to civilian workplace culture is difficult. Many organizations, including Delta Airlines, Booz Allen Hamilton, and NBCUniversal, promote themselves as military friendly, which could help employers keep veteran workers. The survey found that 75% of respondents at “military ready” organizations want to stay at their current company.
One way employers can support veterans is with a military-specific employee resource group (ERG), explained O’Mahoney. “That is something that we’ve found to be helpful in supporting those employees,” adding that it’s important to also highlight other veterans at the company who have climbed the ranks.
O’Mahoney said that while the overall hiring trajectory for veterans has been positive, there’s still room for improvement. “We also want to focus on not just getting veterans jobs, but on getting veterans meaningful career opportunities that would allow them the social mobility that we typically associate with corporate employment in the US.”