MILITARY VETERAN ENTREPRENEURS: PART 2

This is the second in a series of four short papers centering around military veterans who own and/or founded businesses in Colorado. The papers are based on discussions with military veterans who founded and/or currently own companies in Colorado. 

The purpose of these papers is to examine three areas unique to military veteran business owners/founders. 1) How mentoring and networking played a role (or not) in their success; 2) hiring and retaining fellow veterans as employees; and 3) leveraging their veteran-owned status in their business. The final paper presents perspectives on the pros and cons of the veterans’ businesses being in Colorado and advice they would share with other military veteran business owners.

Topic 2: Hiring and Retaining Veteran Employees

 Introduction

Veterans bring unique skills, experiences, and perspectives to the workforce, making them valuable assets to businesses. As owners of veteran or military spouse-owned businesses, prioritizing the hiring and retention of fellow veterans can have numerous benefits, both for the individuals hired and for the businesses themselves. In this paper, we explore the experiences of veteran business owners regarding hiring and retention, focusing on their approaches, the unique skills veterans/military spouses bring, and the challenges encountered in recruiting and retaining veteran/military spouse employees.

 Prioritizing Hiring Fellow Veterans/Military Spouses: Reasons and Approaches

The decision to prioritize hiring fellow veterans or military spouses is influenced by various factors, including their unique skill sets, understanding of military culture, and potential contributions to the success of the business. The primary reasons behind this approach include:

1. Discipline and Work Ethic: The business owners interviewed felt veterans often possess personal and team discipline, will work hard, and have a mission-oriented mindset, making them valuable assets to the business.
2. Familiarity and Comfort: There is a sense of familiarity and comfort in hiring individuals with similar backgrounds, such as veterans or military spouses, leading to instant rapport and smoother integration into the company culture.
3. Understanding of Military Culture: Veterans understand the nuances of military culture, which can be advantageous in navigating military-related projects, especially for roles involving government contracts or federal work.
4. Security Clearances and Expertise: Veterans often possess security clearances and relevant expertise, making them well-suited for roles requiring access to classified information or working on government contracts.

Unique Skills and Qualities of Veterans/Military Spouses

Veterans  bring a diverse range of skills, qualities, and experiences to the workforce, positively impacting businesses in various ways. These include:

1. Adaptability and Critical Thinking: Veterans are accustomed to thinking on their feet and handling various challenges, contributing to the business’s ability to navigate changes effectively.
2. Ownership and Accountability: Veterans tend to take ownership of their tasks and responsibilities, fostering a culture of responsibility within the workforce.
3. Teamwork: Military training instills a strong sense of discipline and teamwork in veterans, enabling effective collaboration and contribution to the business’s success.
4. Mission Focus: Veterans have a mission-oriented mindset, aligning well with the goals and values of the business and driving motivation and productivity among employees.
5. Service Orientation: Veterans’ dedication to serving others contributes to the business’s mission and fosters a sense of purpose among employees.

These skills and qualities enable veterans to excel in various roles and make significant contributions to the success of businesses.

Challenges in Recruiting and Retaining Veteran/Military Spouse Employees

Despite the benefits of hiring veterans, businesses may encounter challenges in recruiting and retaining them. These challenges include:

1. Expectation Management: Some interviewees expressed that veterans may expect special treatment due to their military background, requiring clear communication about expectations and performance standards.
2. Mismatched Skill Sets: Veterans may not always possess the specific skill sets required for certain roles, requiring targeted training and support. Business owners who seek to employ veterans whose skills background may not be an exact match for the position are willing to invest in the technical training as they feel the return on investment by bringing in the right person outweighs the training costs.
3. Limited Availability of Candidates: Finding veteran candidates through traditional channels may be challenging, requiring alternative recruitment strategies such as direct outreach on military bases and/or partnering with Veteran Service Organizations such as the American Legion or Veterans of Foreign Wars.
4. Over-Embellishment of Military Experience: Some of those interviewed experienced fellow veterans who over-embellished their military experience. They caution employers to conduct a thorough assessment during the hiring process.
5. Preference for Settled Candidates: One challenge some businesses encounter when hiring newly transitioned veterans is that they may end up moving. Many businesses prefer hiring veterans who have been out of the military for a while and are settled, mitigating challenges associated with the transition period.

Conclusion

Hiring and retaining veteran employees can bring numerous benefits to businesses, including valuable skills, perspectives, and experiences. By prioritizing hiring veterans, businesses can capitalize on these benefits and create a diverse, inclusive, and high-performing workforce. By investing in veteran employment, businesses can not only support these individuals but also strengthen their own organizations and contribute to the broader veteran community’s success.

About the author

Hark Herold is a 28-year Air Force veteran with experience in a variety of specialties. Following his military service, Hark was focused on supporting military veteran and military spouse entrepreneurs and business owners. If you’d like to talk more about Veteran-Owned businesses and their challenges and opportunities, Hark would love to connect! It’s a topic he’s passionate about. Feel to reach out at [email protected] or visit his website at https://www.eosworldwide.com/hark-herold.