The 2012 Veteran Talent Index
McLean, VA. and Maynard, MA. – 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 (VTI), a snapshot of the current veteran hiring landscape. The first-ever VTI was introduced and published in November 2011 as an innovative tool to help connect veterans and employers more effectively. This second in an on-going series of reports highlights both the requirements of today's employers and the needs of transitioning service members.
More than one million military service members will re-enter civilian life over the next five years and veterans transitioning out of the military continue to face challenging hiring conditions. While many companies recognize the importance of hiring veterans into the civilian workforce, an increasing percentage of employers sense that veterans are not prepared for their career transition. Only 39% of employers, down significantly from 77% in the November report, agreed that veterans or those with prior military experience are prepared for a career transition out of the military.
"We hear from companies all the time who understand the business value of hiring veterans and putting their hard-earned military skills to use in a civilian workforce," said Steve Cooker, executive vice president, Global Government Solutions for Monster Worldwide. "But there is a definite communication gap when former military men and women attempt to convey those skills to recruiters and hiring managers. On the flipside, employers may not be asking the right questions of vets when considering them for jobs within their organizations. The intent of the Veterans Talent Index is to help close this gap and facilitate the employment of American veterans."
The 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 May 2012 Veterans Talent Index report shows the confidence level for both employers and veterans has dropped 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 May 2012 report surveyed more than 900 veterans who revealed that while they believe their military skills are valuable, they're increasingly frustrated and show a lack of confidence in their ability to find an appropriate job due to the lack of preparation for their transition to civilian work. The May 2012 Index dipped to 54, compared to 56 in November 2011, on a scale of 0-100. May 2012 details:
- 75% of veterans, up from 73% in the prior report agree that their military skills are valuable in civilian careers.
- Only 29% of respondents are confident about finding work that suits them, down from 44% in November 2011.
- Less than half (47%) of respondents feel they are prepared for their career transition out of the military, down slightly from 52% in November 2011.
The Veterans Job Search Activity Index is a monitor of transitioning veterans' job search activity and the resources they use. The May 2012 Index rose to a 77 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. May 2012 details:
- Veterans likely to look for a job in the next 12 months is up from 69% in the prior report, with nearly three-quarters (74%) of respondents very or extremely likely to be looking for work within the year.
- Top keywords searched by veterans reveal an interest in customer service, security and management positions; top keywords searched by employers reveal accounting, computer software engineers and computer systems analysts are in demand.
- Each of the top five job search challenges listed in November 2011 increased in May 2012. The challenge of ‘finding opportunities for which I am qualified' jumped the most, rising as a concern from 45% to 53%.
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 May 2012 survey of over 900 employers revealed continued positive indications towards veterans, but also revealed a gap between veterans' and employers' views, and a sense that veterans need to do a better job of explaining their skills in order to more successfully compete with the national job seeker pool. The May 2012 Index dropped to a 71 on a scale of 0-100, compared to a 74 in November 2011. May 2012 Details:
- An encouraging 74% of surveyed employers reported they had hired more than one veteran within the past year, up from 70% in the 2011 report.
- Nearly all surveyed (99%) 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.
- The May 2012 survey showed more respondents reported veterans were the best qualified candidate for the job, yet fewer saw a candidate's work and military experience as primary drivers to hire; down from 44% in November 2011, 32% of respondents reported veterans offer needed special skills and talents compared to non-veterans.
What veterans may lack in civilian experience, they more than make up for in military experience. The majority of veterans (83%) have more than five years of military experience compared to 55% who have more than five years of civilian work experience. Many of today's U.S. jobs (72%) feature requirements of less than five years of work experience; both employers and veterans will need to navigate the transference of military experience into today's workplace.
"Veterans bring a wide range of skills and expertise into the mix of professionals seeking employment, but it's difficult shifting their mindset out of military culture and into civilian culture when talking to a hiring manager," said T McCreary, president of Military.com and vice president for Monster Worldwide. "The VTI provides actionable intelligence to assist employers in filling their talent needs and to provide veterans who want to make that transition into a civilian job, the feedback required to compete in, and acclimate to, the environment they're transitioning into."
To access Monster's comprehensive May 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 social, 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 approximately 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.