Veteran hiring isn’t just a good thing to do; it’s a smart business decision with a measurable return on investment. As talent acquisition leaders face immense pressure to control costs and improve retention, the Veteran talent pool offers a powerful solution. Here’s a data-backed look at the financial benefits of hiring military-affiliated professionals.
The True Cost of Turnover and How Veterans Help
Employee turnover is one of the most significant and often underestimated costs for any business. The Society for Human Resource Management (SHRM) estimates that the average cost to hire a new employee can be over $4,000, with some studies suggesting the cost to replace an employee can be as high as 33% of their annual salary. This includes everything from recruitment and onboarding to lost productivity.
Veterans, however, tend to have higher retention rates than their civilian peers. They are accustomed to a mission-driven, team-oriented culture that fosters loyalty and a sense of belonging. This stability directly reduces the expensive cycle of recruitment and training, allowing you to invest your resources in growth rather than backfilling positions. By building a dedicated Veteran hiring program, you can directly impact your bottom line through reduced turnover.
Efficient Training and Immediate Impact
A significant portion of hiring costs is tied to training new employees. But what if you could hire talent that is already trained in leadership, discipline, and problem-solving? The U.S. government invests billions in training and developing military personnel, skills that translate directly to the civilian workforce.
Veterans often arrive with a strong work ethic and the ability to rapidly adapt to new environments. Their military training is rigorous and practical, meaning they can hit the ground running, requiring less time and resources for onboarding. This readiness-to-work factor can save you both time and money, proving that a dedicated Veteran hiring program is not just an act of support, but a blueprint for operational efficiency.
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