Understanding the value of a veteran through WOTC
Many veterans have leadership experience in intensely challenging situations that go far beyond most civilian experiences—yet the veteran unemployment rate still surges. Learn how a veteran-first approach can help companies by maximizing work opportunity tax credits, while giving veterans the jobs they deserve.
Hiring a veteran can boost your tax credits
Depending on the veteran's unemployment and disability status, your company can earn tax credits of up to $9,600 for hiring a veteran.
Maximum Tax Credit
$2,400
Criteria:
- Veterans who are members of a family receiving SNAP benefits for at least three months in the year prior to being hired
- Veterans who have been unemployed for an aggregate of at least four weeks, but less than six months, in the year prior to being hired
$4,800
Criteria:
- Veterans eligible for disability compensation from the VA and within one year of discharge or release from active military duty when hired
$5,600
Criteria:
- Veterans who have been unemployed for an aggregate of at least six months in the year prior to being hired
$9,600
Criteria:
- Veterans who are eligible for disability compensation from the VA and have been unemployed for an aggregate of six months or more in the year prior to being hired
How many WOTC certifications were issued for each veteran group in 2021?
In the breakdown, we can see that veterans without service-connected disabilities were hired more frequently than those with a disability.
Source: U.S. Department of Labor
.5% Disabled veterans
1.5% Disabled veterans who have been unemployed for at least 6 months
8% Veterans receiving SNAP benefits
39% Veterans who have been unemployed for at least 4 weeks
51% Veterans who have been unemployed for at least 6 months
Unemployment is an issue among veterans
Of the thousands of veterans that are currently unemployed, the individuals with service-connected disabilities have an even harder time securing a job.
Demographics of unemployed veterans
5% Age 18–24
56% Age 25–54
39% Age 55+
Rates of unemployment
Veterans with no disability
Veterans with a service-connected disability
By the Numbers
386,000
unemployed veterans in 2021
7
percentage of total population that were veterans in 2021
4.9 million
veterans had a service-connected disability as of August 2021
Statistics as of August 2021
Source: Bureau of Labor Statistics
Veterans are valuable employees
In addition to benefiting your company from a tax credit standpoint, hiring veterans can improve your employee retention rate and overall leadership.
What makes veterans such desirable job candidates?
Retention Rates
Acceptance Rates
Interview-to-hire ratio
"Not only do veterans consistently achieve higher performance ratings, many have leadership experience in intensely challenging situations that go far beyond most civilian experiences."
Mike Starich, CEO of Orion Talent
Interested in learning how your company can utilize the veteran work opportunity tax credit?
We help companies just like yours connect with candidates who have the skills to succeed in the jobs you need to fill today—particularly in traditionally overlooked populations like disabled veterans. Contact us today!
