Thursday, July 13, 2017

How Your Company Can Better Retain Employees Who Are Veterans - HARVARD BUSINESS REVIEW

by Kittie W. WatsonMichael PerryBecky RipleyRandy Chittum
Originally published: July 11, 2017
Publisher: HBR.org

Up to 360,000 men and women leave the military each year and most are looking for work. Since 2009, over 400,000 veterans have found employment in hundreds of corporate and governmental organizations thanks in part to the work of coalitions and initiatives such as the Veteran Jobs Mission, Veterans Employment Initiative, and Hiring Our Heroes. And hundreds of corporate employers have collectively committed to over one million total veteran hires over the next several years.

That’s the good news. But despite this unprecedented commitment to hiring veterans, nearly half of all veterans leave their first post-military position within a year, and between 60% and 80% of veterans leave their first civilian jobs before their second work anniversary, according to a 2014 report from VetAdvisor and Syracuse University’s Institute for Veterans and Military Families). This means that only about two in 10 veterans will hold their first non-military job for more than two years.

Certainly some of these vets are leaving for better jobs. However, there are a lot of other, less positive, reasons for these figures. According to that same VetAdvisor and Syracuse report, the top reasons veterans report for departing their first jobs include lack of career development/advancement, work that lacks meaning, limited professional development opportunities, or unfamiliar work culture.