The Veterans Talent Index: Job Market Snapshot
Communication gap continues to frustrate veterans and employers, impacting job search and hiring confidence
Monster.com®, the worldwide leader in successfully connecting people to job opportunities and the flagship brand of Monster Worldwide, Inc. (NYSE: MWW), today released its biannual Veterans Talent Index, a snapshot of the current veteran hiring landscape. First introduced in November 2011, the Veterans Talent Index serves as a comprehensive analysis of transitioning military service members, veterans and their employers. This third in an on-going series of reports is meant to facilitate the employment of our nation's veterans. The November 2012 report is generated from employer and veteran feedback, leveraging the resources of the Military.com Career and Transition Center, including data on veteran skills, training and experience gathered from more than two million veteran resumes.
Veterans represent an elite and diverse talent pool offering a unique set of skills, experiences and leadership abilities. Most possess transferrable skills, professional discipline and positive attributes identifiable in today's evolving workforce. Yet veterans continue to express a deepening lack of confidence in finding an appropriate job. The November 2012 Veterans Talent Index report reveals that while two-thirds of veterans believe the skills they acquired in the military are relevant for business use, more than three-quarters (78%) are not confident about finding a job that meets their abilities.
"In the most recent survey, nearly all the employers we spoke with would recommend hiring veterans, and 99 percent say veterans perform their job functions the same or better than non-veteran workers," said Steve Cooker, executive vice president, Global Government Solutions for Monster Worldwide. "However, the fact that just 50 percent of employers surveyed agree that veterans are prepared for a successful transition, shows there is still a lot of work to be done."
The November 2012 Veterans Talent Index is a comprehensive analysis of transitioning military service members, veterans and their employers. The three indices of the report include: 1) Veterans Career Confidence Index; 2) Veterans Job Search Activity Index; and 3) Employer Veterans Hiring Index. The November 2012 Veterans Talent Index report shows the confidence level for veterans has dropped 7 percent over the past six months.
The Veterans Career Confidence Index is a monitor of veterans' confidence in finding a job combined with the level of skills they acquired during and after their military service. The November 2012 report revealed that while they believe their military skills are valuable, veterans continue to show a lack of confidence in their ability to find a job and still face challenges in translating their military skills to civilian jobs.
The November 2012 Index dipped to 50, compared to 56 in November 2011, on a scale of 0-100. November 2012 details:
- Less than half of respondents (43%) feel they are prepared for their career transition out of the military, down from 53% in November 2011
- Only 22 percent of respondents are confident about finding work that suits them, down from 34 percent in November 2011
The Veterans Job Search Activity Index is a monitor of transitioning veterans' job search activity and the resources they use. The November 2012 Index rose to 80 on a scale of 0-100 compared to 74 in November 2011, reflecting the increased base of veterans as well as their increased job search activity. November 2012 details:
- Four out of five veterans will be searching for a job in the next twelve months, up from 69% a year ago, with nearly 82 % of respondents very or extremely likely to be looking for work within the year
- One in two veterans (57%) are concerned with employers understanding their skills and experience to land a job
The Employer Veterans Hiring Index is a monitor of how employers who have hired multiple veterans in the past year compare work performance to non-veteran employees. The November 2012 survey of over 750 employers revealed continued positive indications towards veterans. It also revealed a widening gap between veterans' and employers' views, and a sense that veterans can do better when explaining their skills in order to more successfully compete with non-veterans in the job market.
The November 2012 Index dipped slightly to a 72 on a scale of 0-100, compared to a 74 in November 2011. November 2012 Details:
- 69% of surveyed employers reported they had hired more than one veteran within the past year
- Nearly all surveyed (98%) who had hired a veteran felt their work experience was about the same or much better than non-veteran workers; 99% would recommend hiring a veteran
"Veterans continue to bring a wide range of skills and expertise into the mix of professionals seeking employment, but it's challenging for veterans to communicate their skills into civilian culture when talking to a hiring manager," said T McCreary, president of Military.com and vice president for Monster Worldwide. "This Veterans Talent Index provides actionable intelligence to assist employers in filling their talent needs. Veterans and employers can also use tools like the Military Skills Translator to help bridge that communication gap and assist in connecting our talented veteran workforce with civilian jobs."
Monster and Military.com are committed to helping employers hire these dedicated men and women who served our country and to helping our nation's veterans find civilian positions that utilize their experiences and skills. To access Monster's comprehensive Nov. 2012 Veterans Talent Index report, and to learn more about hiring veterans and advice on how to bridge the communication gap, visit the Veterans Employment Center.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster®, is the worldwide leader in successfully connecting people to job opportunities. From the web, to mobile, to BeKnown™ on Facebook, Monster helps companies find people with customized solutions using the world's most advanced technology to match the right person to the right job. With a local presence in 55 countries, Monster connects employers with quality job seekers at all levels, provides personalized career advice to consumers globally and delivers vast, highly targeted audiences to advertisers. To learn more about Monster's industry-leading products and services, visit http://www.monster.com. More company information is available at http://about-monster.com.
Military.com is the nation's largest military and veteran online news and membership organization serving active duty personnel, reservists, guard members, retirees, veterans, family members, defense workers and those considering military careers. Military.com enables Americans with military affinity to access their benefits, advance their careers, enjoy military discounts, and stay connected for life. Military.com is a business unit of Monster Worldwide Inc. More information is available at www.military.com.