Wednesday, April 23, 2014

Report Highlights a Strong Business Case for Hiring Veterans

A recent report from the CEB Corporate Leadership Council lays out concrete facts and figures that point to one main conclusion: hiring veterans is a solution to human capital challenges, including everything from “bad hires” to high turnover. According to the report, human capital is the number one issue cited by CEOs. In fact, these CEOs tell CEB that “inadequacies in human capital management has prevented achievement of key strategic objectives.”

With this in mind, the report offers an alternative to tradition recruiting methods that aren’t working. In an HR environment where one in five new hires are “bad” according to hiring managers on their team, the report found that veterans are performing at higher levels and are less likely to turnover generating significant business outcomes.  And with an estimated 132,000 Veterans expected to leave the military in 2014, in addition to more than 1,000,000 are who expected to leave across the next five years, veterans are a renewable recruiting pool from which to recruit.

The numbers don’t lie either. CEB illustrates this here: For a company of 1,000 employees and average revenue per employee of $150,000, decreasing turnover by 3% saves $1.3 million annually and increasing performance by 4% improves revenue by $6 million.  CEB Corporate Leadership Council’s analysis that veteran hires are more valuable employees just makes sense when you consider savings like this, coupled with the many other intangibles that veterans bring to their civilian employers,

Click here to read the full report. To learn how your company can begin a Military Talent Program to better recruit and leverage veterans, click here.

No comments:

Post a Comment