Companies must consider their hiring practices to ensure a reliable, diverse workforce, and there are certain advantages to hiring individuals who have worked in the military. Understanding the benefits of hiring veterans for your next position will allow you to maximize profits and minimize turnover.
Tax Incentives
Companies can receive tax incentives for hiring candidates from certain groups. Various Work Opportunity Tax Credits (WOTCs) are available from federal and state agencies when you hire and retain veterans for open positions at your organization.
Eligible businesses can get up to $9,600 in credits when they hire veterans from households receiving income assistance. This is a true win-win, as companies get to employ people needing a stable income and save a lot of money in the process.
Inclusive Workforce
Another great thing about hiring veterans for open positions at your organization is that it helps to establish a more inclusive workforce. Veterans are a diverse group of individuals who come from many different social, ethnic, and religious backgrounds.
Companies that want to take advantage of these benefits must create a workplace culture that facilitates dialogue and supports underrepresented groups. By increasing veteran self-identification, companies can help create an inclusive, more productive workforce.
Improved Work Ethic
One thing most employers know about military veterans is that they have some of the best work ethics you can find. Military training instills essential skills and capabilities that complement employment, such as teamwork, leadership, and stress tolerance.
Military veterans can work independently if necessary and excel in situations where others may fall short. They understand the importance of accountability and often have the essential technology skills to perform tasks. Their organizational skills and self-discipline are significant assets to any business.
Fill Your Next Position With Someone Who Will Excel
Hiring is one of the most arduous tasks businesses must complete. The wrong candidate can set you back and leave you unable to complete essential tasks on time. Therefore, you shouldn’t underestimate the benefits of hiring veterans for your next position. With increased tax incentives, an inclusive workforce, and improved work ethic among your crew, you’ll be well-equipped to succeed.
