April 21, 2015
OFCCP has updated their annual veterans hiring benchmark to 7%. The slight drop is a representation of the percentage of veterans in the civilian labor force. OFCCP uses statistics gathered by the Bureau of Labor Statistic (BLS) to set the benchmark. Previously the benchmark was 7.2%.
Federal contractors and subcontractors can use the updated benchmark in their Affirmative Action Programs for veterans. Under OFCCP’s recently updated regulations for veterans, covered companies must set a hiring benchmark each year. At the end of the year, the company will compare the percentage of new hires that are veterans to the benchmark.
Contractors can use the results of this benchmark comparison as part of their annual review of good faith outreach and recruiting efforts. Companies will not be found out of compliance for failing to meet the benchmark. They will, however, be expected to demonstrate evidence of specific efforts taken to recruit veterans.
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