On National Hire a Veteran Day, we reflect on the sacrifices made by veterans who have served our country and the importance of supporting their transition to civilian life. One of the best ways to show our appreciation and support is to offer job opportunities to veterans. In this blog post, we’ll discuss the valuable assets veterans can bring to your company’s workforce and the benefits of hiring veterans outlined by the Department of Veterans Affairs (VA) and the Internal Revenue Service (IRS).
The Valuable Assets of Veterans
According to the VA’s webpage for veteran hiring resources, veterans possess unique skills and strengths that can significantly benefit a company’s workforce. These include:
- Leadership and teamwork: Military service instills qualities like discipline, teamwork, and adaptability that are highly valuable in the workplace.
- Problem-solving abilities: Veterans’ experience in critical decision-making under pressure can translate into practical problem-solving skills in the civilian workplace.
- Ethical values and work ethic: Due to their military background, veterans often possess a solid commitment to integrity and a strong work ethic.
Tax Benefits for Employers
The IRS provides tax incentives to encourage employers to hire veterans. One such incentive is the Work Opportunity Tax Credit (WOTC), which allows employers to claim a tax credit for hiring veterans from specific target groups, including qualified veterans who have faced barriers to employment. By hiring veterans and claiming these tax credits, businesses can save money and positively impact their communities by supporting veterans.
Strategies for Hiring Veterans
If your business is interested in hiring veterans, there are various strategies you can utilize. These include:
- Partnering with veteran-focused organizations: Collaboration with organizations such as the VA, veteran service organizations, and local workforce agencies can help identify and connect you to qualified veteran candidates.
- Adapting job descriptions and qualifications: Job descriptions and hiring qualifications can be revised to accommodate veterans’ skills and experience.
- Offering supportive work environments: Creating an inclusive workplace environment that accommodates the unique needs of veterans, such as providing mentorship programs and flexibility, can improve their transition to civilian work.
Conclusion
Hiring veterans honors their service to our country and benefits companies in numerous ways. By recognizing the valuable skills and strengths veterans bring to the workplace, businesses can build a diverse, highly skilled, and motivated workforce.
In addition, by utilizing the tax incentives and resources available, businesses can make a positive impact not only on their bottom line but on their communities as well. This National Hire a Veteran Day, let’s commit to honoring our veterans by offering job opportunities and supporting their transition to civilian life.
We welcome the opportunity to put our accounting expertise to work for you. To learn more about how our firm can help advance your success, don’t hesitate to contact Kathy Corcoran at (302) 254-8240.
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