|By Business Wire||
|May 29, 2014 09:02 AM EDT||
Monster Worldwide, Inc. (NYSE:MWW), the worldwide leader in successfully connecting job opportunities to people, released the sixth edition of the Veterans Talent Index (VTI) today, providing insight into what veterans look for from employers, what types of retention programs are being used, and what concerns employers have when hiring veterans.
A majority of respondents to the VTI survey seek employment at companies that market themselves as veteran friendly (85%) and have veterans that work there (80%); yet 68% of employers surveyed do not have veteran-specific retention programs in place. Employer respondents noted the most common and effective retention programs for veteran employees are those that emphasize mentoring, career paths, and communication.
Many surveyed employers (69%, the highest response rate in three years) say their company has a stated commitment to hiring veterans, and 67% report that hiring veterans is “a strategic initiative in recruiting company talent,” although 89% of surveyed employers agree that they hire the best talent regardless of veteran status.
More than half of the employers surveyed do not have major concerns when hiring veterans. Of those who do, their foremost concerns are veteran employees fitting into corporate culture (28%) and transferring military skills to corporate job skills (27%).
The Employer Hiring Index, which measures employers’ level of hiring veterans, how employers view veterans’ job performance compared to non-veterans, and employers’ motivation to hire veterans, remains stable at 71 for the second consecutive survey. Employer motivations to hire veterans, such as “they were the best qualified of the candidate pool,” also remain steady.
“We cannot bring down the unemployment rate among our nation's veterans until we match the needs of the private sector with the qualified servicemen and women who are preparing to transition to the civilian world,” said Congressman Denham. “The Monster.com Veteran Talent Index is an invaluable tool for policymakers and private sector companies who are working to address this challenge, and I want to thank Monster.com for their commitment to our veterans.”
“We need to do everything we can to make sure our servicemen and women have the opportunity to achieve the American Dream when they get home. It’s great to see services that provide data to businesses on how to become the kind of place veterans want to work. That benefits our veterans, but also our businesses who gain competent, effective employees,” said Representative Walz.
"While an increased national focus on veteran hiring is beginning to show positive results in overall veteran unemployment, much work is still to be done, especially with the hundreds of thousands of younger Vets entering the workforce in the next several years,” said Steve Cooker, Executive Vice President, Global Government Solutions for Monster Worldwide. “We need to ensure that employers retain the veteran talent they bring in to their companies. Employers should prepare themselves to be supportive of veterans in general, putting in place programs that emphasize mentoring, career paths, and communication, specifically in that critical first year after they have been hired.”
“Nearly all (99%) of the surveyed employers agree – veterans perform as well or better than their civilian coworkers. Similarly, employers report that veterans perform as well or better than non-veterans in terms of career advancement,” said retired US Navy Rear Admiral, T McCreary, president of Military.com and Vice President for Monster Worldwide. “Less than half (45%) of our surveyed employers have participated in a veteran-specific recruiting initiative, and we’d like to see this figure grow – companies interested in attracting the best veteran talent should continuously build and demonstrate their veteran support programs, as they have shown to be immensely important to potential veteran candidates.”
The Veteran Talent Index is a snapshot of the current veteran hiring landscape. Launched three years ago, the Index provides ongoing and quantifiable metrics of employment conditions for transitioning service members and the employers hiring them. Twice each year, veterans and employers are surveyed, and this report marks the sixth survey of Gulf War Era II veterans, which include veterans who have served since 9/11.
This sixth edition also includes a summary of the National Veteran Employment Summit. The event brought together human resources professionals, hiring managers and veteran service organizations looking to enhance or begin a veteran or military-spouse hiring program. The Summit differed from other veteran employment programs in that it went beyond reinforcing the notion that veteran hiring is important and put the right people in the room together to focus more on proven recruitment and retention strategies.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE:MWW), is the global leader in successfully connecting job opportunities and people. Monster uses the world's most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit about.monster.com.
Military.com is the nation’s largest military and veteran online news and membership organization serving active duty personnel, reservists, guard members, retirees, veterans, family members, defense workers and those considering military careers. Military.com enables Americans with military affinity to access their benefits, advance their careers, enjoy military discounts, and stay connected for life. Military.com is a business unit of Monster Worldwide Inc. More information is available at www.military.com.