What Are the Benefits of Hiring a Veteran?
Veterans’ special skills can be put to good use by businesses.
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Veterans returning to civilian life can find it difficult to find jobs. Hiring veterans not only helps these former military personnel, but can also be a smart business decision. Veterans often have specialized skills and training, and you just might save some money if you take advantage of tax breaks offered to employers who hire veterans.
A Strong Work Ethic
Discipline is the backbone of the military. If soldiers aren’t at their posts on time, lives can be lost, and if soldiers don’t pay attention to what they’re doing, the unit might fail to fulfill its mission. When you hire new employees, you don’t know how reliable they’ll be as employees. Former soldiers have already proven their ability to function as dedicated and disciplined workers, and just might become star employees if you hire them.
Former soldiers understand the benefits of teamwork, and many have seen the way good teamwork helps ensure the success of a project. Veterans might be more likely to work effectively as team members because they come from a background in which teamwork is not only prized, but required. Military personnel are trained to put aside personal differences in order to work successfully as a team, and that ability serves them well when they return to the workforce. Veterans also might be qualified to step into leadership roles, thanks to their experience leading others in the military.
Trained and Ready to Work
The military requires large numbers of military personnel to support the mission of the armed forces. Soldiers receive training at the military’s expense, saving you money when you hire an already trained new hire. On-the-job training encompasses such areas as human resources, clerical and public affairs positions, vehicular and aircraft maintenance and repair, plumbing, construction, and other trades. The Military.com website notes that military personnel also might have a thorough understanding of international communications, which can be an asset if your company is a global business.
Reduced Tax Burden
If you hire an unemployed veteran, you might qualify for a $2,400 to $5,600 Returning Heroes Tax Credit for each veteran. You can receive a credit of 40 percent based on the first $6,000 of wages, for a maximum of $2,400, if the veteran has been unemployed at least four weeks. Hiring a veteran who has been unemployed for longer than six months qualifies you for an even higher tax credit. In that case, the credit is calculated on 40 percent of the veteran’s first $14,000 in wages, up to a maximum of $5,600. Hiring a wounded veteran provides the most generous tax benefit. When you hire veterans with disabilities related to their military service, you can receive a maximum tax credit of $9,600 per each veteran. The Center for America notes that these credits are scheduled to end on Dec. 31, 2013, but notes that there is a move in Congress that could extend the benefits through 2014 or even make them permanent.