In advance of Veterans day, we thought it would be a perfect time to highlight some data points about veterans in the workforce and the companies that stand out when it comes to attracting and retaining veteran talent.
There were just under 18 million veterans in the US at the end of 2023, 7.5% of the adult population, down slightly from 7.8% in 2022. Veterans made up 5.5% of the civilian labor force in 2023, down from 5.8% in 2022.
Companies have increasingly collected and disclosed the share of veterans in their workforces, with 20% of S&P 500 and 12% of S&P 1500 companies now disclosing representation:
Here are the 10 companies with the highest share of veterans in their US workforce:
Disclosure of representation of veterans on Boards of Directors has lagged. Most companies have adopted the Nasdaq Board Diversity Matrix framework, which suggests disclosing LGBTQ+ members but not veteran or disability status.
The share of S&P 500 companies disclosing the LGBTQ+ share of board members has gone from 5.9% in 2020 to 31.5% this year, and 4.6% to 34.3% for S&P 1500 companies.
Veterans hold 3.3% of board seats in the S&P 500, 2.8% in the Russell 1000, and 3.0% in the S&P 1500, which has barely budged since 2020.
We track 4 lists that rank the best employers for veterans:
- Military Times Best for Vets (2013-2024)
- Military Friendly Employers (2019-2024)
- Vets Indexes (2021-2024)
- Forbes America’s Best Employers For Veterans (2020-2024)
Only 10 companies appear on all 4 lists in 2024: Amazon, CACI International, Comcast, General Dynamics, IBM, Merck, Northrop Grumman, RTX, Home Depot, and Verizon.
To all those who serve and have served, we thank you for your service.
What we’re reading:
- How a second Trump presidency could impact DEI, employment actions (ESG Dive)
- 2024 State of Corporate ESG: Navigating new frontiers of regulation and AI (Thomson Reuters Institute)
- DEI Drops ‘E’ to Shield Diversity Efforts. Can It Mute Outrage? (Bloomberg Law)
- Interest in ESG Stays Level, Exclusive Callan Survey Finds (Callan)
- Retailers brace for DEI blowback in lead-up to election, holiday shopping season (CNBC)