Are there incentives for hiring vets?

by on
in Hiring,Human Resources

Q. We are aware of the increasing number of veterans who are returning to the workforce and applying for positions. We are interested in hiring veterans and would like to know if there are any incentives for hiring them.

A. In November 2011, President Obama signed into law the Veterans Opportunity to Work (VOW) to Hire Heroes Act. The purpose of this act is to decrease the unemployment rate among veterans and to encourage employers to hire them. It provides tax incentives for employers that hire veterans.  

Specifically, the act provides a tax credit of up to $2,400 for hiring veterans who are unemployed for more than four weeks but less than six months and a tax credit of up to $5,600 for hiring veterans who have been looking for a job for more than six months.  

The act also provides a tax credit of up to $9,600 for hiring veterans with service-connected disabilities who have been unemployed for more than six months. The tax credits are effective through Dec. 31, 2012.  

Employers should also be aware that, in December 2011, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs published a proposed new rule in the Federal Register to ensure equal employment opportunities for qualified workers with disabilities.  

The proposed new rule would require certain federal contractors and subcontractors to have a hiring goal of 7% of their workforce for each job group to be individuals with disabilities. Note that the proposed new rule seeks to set an equal employment opportunity goal. Accordingly, this proposed new rule may persuade employers to hire veterans with disabilities.

{ 1 comment… read it below or add one }

Vets2Work April 30, 2012 at 5:19 pm

Bring jobs back to America One Veteran at a time.

A company named Workspace Communications has created the Workspace Warrior Initiative whereas companies who outsource jobs offshore can bring a small percentage back and employ military veterans and their families. These are the higher paying jobs like tech support, product support and customer retention. The positions are staffed virtually from the veteran’s home in order to employ remote and disabled veterans including caretaker family members. With all the Federal and state(s) tax credits available including training, the cost per hour is just slightly above what companies are paying offshore.

Vets2Work is asking all veterans to identify local businesses that outsource offshore and ask them to bring back a small percentage and hire military veterans. We feel that this small contribution will grow after these companies see the benefits of US veterans over offshore employees.

Reply

Leave a Comment