08.06.15 |
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Helping Veterans Transition from the Military to the Workplace

Patriotic ribbon

Although the overall unemployment rate for U.S. veterans was down to 5.3 percent in 2014, there are still hundreds of thousands of veterans who are unable to find work, according to the 2015 Employment Situation of Veterans released by the Bureau of Labor and Statistics.[1]

While the transition from the military to the civilian workforce can be a struggle, many employers can gain from the leadership skills, work ethic and professionalism that these dedicated men and women bring to the work environment.

In addition to a valuable, new team member, employers who hire veterans may quality for the Work Opportunity Tax Credit (WOTC) while the program is active. WOTC incentivizes employers to hire and retain individuals from target groups, such as veterans, who face barriers to employment.[2]  Up to $1 billion in tax credits is available across all employer sectors per year under the WOTC program.[3]

The WOTC program expired at the end of 2014 and is currently in hiatus. However, the Senate Committee on Finance recently voted to approve a two-year extension of popular business tax credits and deductions, which includes WOTC.[4] If passed by Congress, employers will be able to take advantage of WOTC for hiring qualified unemployed veterans and other eligible individuals until the end of 2016.[5]

Employers can also find numerous resources available to help veterans move into the civilian workplace and find sustainable employment opportunities. One such program is Workforce Opportunity Services (WOS), which assists veterans transitioning from serving in the armed services to working in a corporate setting.[6] The program helps veterans develop valuable work skills and the opportunity to earn academic certificates from local universities.

ADP has collaborated with WOS to help veterans reenter the workforce, and recently announced the hiring of a former U.S. Army colonel who will focus on recruiting veterans and bringing their unique skill sets to ADP and the human capital management industry.

Click here to learn more about ADP’s efforts to reach the U.S. veteran community and the recent hire of Colonel Tom Hiebert.

 
Learn More About ADP SmartCompliance® Tax Credits
 


The information provided in this blog post is for informational purposes only and not for the purpose of providing accounting, legal, or tax advice.  The information and services ADP provides should not be deemed a substitute for the advice of any such professional.  Such information is by nature subject to revision and may not be the most current information available.

[1] http://www.bls.gov/news.release/pdf/vet.pdf

[2] http://www.doleta.gov/business/incentives/opptax/wotcEmployers.cfm

[3] http://www.doleta.gov/business/incentives/opptax/wotcEmployers.cfm

[4] http://www.finance.senate.gov/imo/media/doc/JCX-101-15%20Extenders%20Markup.pdf

[5] http://www.finance.senate.gov/imo/media/doc/JCX-101-15%20Extenders%20Markup.pdf

[6] http://www.wforce.org/veterans/program-overview/

 


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