On June 15, 2016, OFCCP announced the annual update to the Veterans Hiring Benchmark. The new benchmark is 6.9%.
Affirmative Action Plans (AAPs) for Veterans with start dates on or after June 15, 2016 should utilize the new 6.9% benchmark. This new hiring benchmark will be in effect until the Bureau of Labor Statistics updates their annual report in 2017. AAPs developed prior to June 15, 2016 may continue to utilize the 7% benchmark for the remainder of the current AAP cycle.
Under OFCCP’s Vietnam Era Veterans Readjustment Assistance Act (VEVRAA) regulations, covered Federal contractors must monitor the percentage of new hires that are veterans. The hiring benchmark analysis must be completed at least annually. The benchmark is not a quota. Failing to meet the benchmark is not an indication of non-compliance. The benchmark helps companies assess their good faith recruitment efforts towards veterans.