Connect with us

Business News

Four methods to retain military veterans at your company

There are amazing perks to hiring vets, but attempting to retain military veterans takes a different approach than your other employees – here are four ways to keep this talent at your company.

Published

on

military veterans

Hiring veterans is a no brainer, but how do you retain them?

Hiring military veterans is an easy way to add strength to your work team, and we aren’t talking about physicality. Veterans have a long-ranging work history, tend to have strong values and work ethic, and have demonstrated leadership capabilities. And, employers that hire veterans in 2013 can apply for generous tax credits ranging from $2,400 to $9,600 per new hire – talk about an win-win situation!

The Value of a Veteran is an organization devoted to teaching organizations how to recruit and retain military veterans, and offers training for corporate, government, higher education, and franchise organizations. Lisa Rosser, who is the acting CEO, founded the organization to help companies better understand recruiting and retention of veterans, and with 10 years of Active Army duty and 11 years of service with the Army Reserve, including 2.5 years of mobilization after the events of 9/11, and engaging in the Gulf War, Somalia, and Bosnia, she learned the ins and outs of life before and after military service, retiring in July 2011 at the rank of Lieutenant Colonel.

Rosser notes that most companies have support programs in place for the more recognized diversity communities: women, ethnic minorities, gay/lesbian/trans-gendered, adding that the veteran population is also a diverse population with specific, and often unique, support needs.

This diverse population can be retained, and by understanding their needs, you can keep these talented leaders in your company for the long haul. Rosser offers the following four methods to retain military veterans at your company:

1. Establish a veteran affiliation group.

The military has a strong culture, and those who have served form fast and lasting bonds. Provide them a formal group where they can meet those who have made the transition from military to civilian life and who have achieved success in your organization.

2. Create a formal integration program (i.e., sponsorship).

Making the transition from military to civilian work life can be overwhelming, confusing and frustrating. A veteran-employee sponsor can provide advice and encouragement to help them navigate the first months or year of their new career.

3. Assign mentors to help them navigate corporate career paths.

The military has very defined career paths. From formal education to job assignments, most service members have experienced and can describe the specific types of roles and experiences they needed to make career progress in the military. However, corporate careers can take on a variety of directions, and many options are not obvious from their career point of entry. Regular check ins with mentors can help the service member see the options and opportunities.

4. Recognize your veteran-employees on Veterans Day & Memorial Day.

Celebrate the meaning of these specific holidays in your offices and acknowledge the sacrifices that all veterans and their families have made in service to the country. Arrange for a recognized company leader to send a personal message to each veteran-employee thanking them for their service.

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Pingback: 5 tips for retaining veteran employees

Leave a Reply

Your email address will not be published.

Business News

Keep your company’s operations lean by following these proven strategies

(BUSINESS) Keeping your operations lean means more than saving money, it means accomplishing more in less time.

Published

on

keeping operations lean

The past two years have been challenging, not just economically, but also politically and socially as well. While it would be nice to think that things are looking up, in reality, the problems never end. Taking a minimalist approach to your business, AKA keeping it lean, can help you weather the future to be more successful.

Here are some tips to help you trim the fat without putting profits above people.

Automate processes

Artificial intelligence frees up human resources. AI can manage many routine elements of your business, giving your team time to focus on important tasks that can’t be delegated to machines. This challenges your top performers to function at higher levels, which can only benefit your business.

Consider remote working

Whether you rent or own your property, it’s expensive to keep an office open. As we learned in the pandemic, many jobs can be done just as effectively from home as the workplace. Going remote can save you money, even if you help your team outfit their home office for safety and efficiency.

In today’s world, many are opting to completely shutter office doors, but you may be able to save money by using less space or renting out some of your office space.

Review your systems to find the fat

As your business grows (or downsizes), your systems need to change to fit how you work. Are there places where you can save money? If you’re ordering more, you may be able to ask vendors for discounts. Look for ways to bring down costs.

Talk to your team about where their workflow suffers and find solutions. An annual review through your budget with an eye on saving money can help you find those wasted dollars.

Find the balance

Operating lean doesn’t mean just saving money. It can also mean that you look at your time when deciding to pay for services. The point is to be as efficient as possible with your resources and systems, while maintaining customer service and safety. When you operate in a lean way, it sets your business up for success.

Continue Reading

Business News

How to apply to be on a Board of Directors

(BUSINESS) What do you need to think about and explore if you want to apply for a Board of Directors? Here’s a quick rundown of what, why, and when.

Published

on

board of directors

What?
What does a Board of Directors do? Investopedia explains “A board of directors (B of D) is an elected group of individuals that represent shareholders. The board is a governing body that typically meets at regular intervals to set policies for corporate management and oversight. Every public company must have a board of directors. Some private and nonprofit organizations also have a board of directors.”

Why?
It is time to have a diverse representation of thoughts, values and insights from intelligently minded people that can give you the intel you need to move forward – as they don’t have quite the same vested interests as you.

We have become the nation that works like a machine. Day in and day out we are consumed by our work (and have easy access to it with our smartphones). We do volunteer and participate in extra-curricular activities, but it’s possible that many of us have never understood or considered joining a Board of Directors. There’s a new wave of Gen Xers and Millennials that have plenty of years of life and work experience + insights that this might be the time to resurrect (or invigorate) interest.

Harvard Business Review shared a great article about identifying the FIVE key areas you would want to consider growing your knowledge if you want to join a board:

1. Financial – You need to be able to speak in numbers.
2. Strategic – You want to be able to speak to how to be strategic even if you know the numbers.
3. Relational – This is where communication is key – understanding what you want to share with others and what they are sharing with you. This is very different than being on the Operational side of things.
4. Role – You must be able to be clear and add value in your time allotted – and know where you especially add value from your skills, experiences and strengths.
5. Cultural – You must contribute the feeling that Executives can come forward to seek advice even if things aren’t going well and create that culture of collaboration.

As Charlotte Valeur, a Danish-born former investment banker who has chaired three international companies and now leads the UK’s Institute of Directors, says, “We need to help new participants from under-represented groups to develop the confidence of working on boards and to come to know that” – while boardroom capital does take effort to build – “this is not rocket science.

When?
NOW! The time is now for all of us to get involved in helping to create a brighter future for organizations and businesses that we care about (including if they are our own business – you may want to create a Board of Directors).

The Harvard Business Review gave great explanations of the need to diversify those that have been on the Boards to continue to strive to better represent our population as a whole. Are you ready to take on this challenge? We need you.

Continue Reading

Business News

Average age of successful startup founders is 45, but stop stereotyping

(BUSINESS) Our culture glorifies (yet condemns?) startup founders as rich 20-somethings in hoodies, but some are a totally different type.

Published

on

startup founders average age is 45

There’s a common misconception that startups are riddled with semi-nerdy, 20-something white dudes who do nothing but sip Nitro Brews and walk around the open office showing off the hoodie they wore yesterday. It turns out that it’s extremely rare that startup offices resemble The Social Network.

However, the academic backdrop for the real social network story (AKA Harvard), produced statistics that will serve to put the aforementioned misconception to rest. According to the Harvard Business Review, the average age of people who founded the highest-growth startups is 45. Say what?! A full-fledged adult?!

In fact, aside from the age category of 60 and over, ages 29 and younger were the smallest group of founders that are responsible for heading the highest-growth startups. I guess you can accomplish a lot when you’re not riding around the office on a scooter all day.

The study also found that older entrepreneurs are more likely to succeed. The probability of extreme startup success rises with age, at least until the late 50s. It was found that work experience plays an important role.

Many will argue, “Well, what about someone like Steve Jobs?” You could easily argue right back that it took Jobs until the age of 52 to create Apple’s most profitable product – the iPhone.

The study continues to answer questions like, why do Venture Capitalist investors bet on young founders? This goes back to the misconception at the start, and there’s a notion that youth is the key for successful entrepreneurship. Wrong.

There is also the idea that younger entrepreneurs are likely working with less financial options, so it may be common for them to take something from a VC at a lower price. As a result, they could be viewed as more of a bargain than older founders.

“The next step for researchers is to explore what exactly explains the advantage of middle-aged founders,” writes Pierre Azoulay, et al. “For example, is it due to greater access to financial resources, deeper social networks, or certain forms of experience? In the meantime, it appears that advancing age is a powerful feature, not a bug, for starting the most successful firms.”

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!