Syracuse University’s Institute for Veterans and Military Families (IVMF), in collaboration with Prudential Financial, Inc., today launched the first in a series of three research papers as part of an overall study on military spouse employment. Prudential funded the study with a $140,000 grant.
“This research highlights that military spouses bring a variety of business enhancing characteristics to the workplace–such as diversity, resilience, adaptability and high civic-engagement–and offers a compelling business case to recruit and hire them,” said Dr. Nick Armstrong, senior director of research and policy at IVMF.
Financially, much like their civilian counterparts, military families typically require two incomes to meet household expenses, yet unemployment rates for military spouses are nearly three times greater than their civilian peers. In addition, active duty military spouses earn 38 percent less than their civilian peers, even though the majority are well educated. Dr. Deborah Bradbard, a senior research associate at IVMF, said there are several reasons for this. “Military spouses often have to disrupt their careers because they frequently relocate, often live in remote locations, have limited childcare options and more.” Bradbard said that although companies are beginning to understand the employment challenges of veterans transitioning to the workplace, they are somewhat less familiar with the challenges the spouses of active military service members face.
“Military spouses are a great source of talent and an integral part of our talent pipeline strategy,” said James Beamesderfer, vice president, Veterans Initiatives at Prudential. “We know that more than one third of them say they are unemployed or underemployed. We want to help turn that around by providing them with meaningful career opportunities. That’s why we’re working with the IVMF to fund the research and share best practices with other employers.”
The IVMF plans to release Part Two and Part Three of the research series later this year. It will include case studies of military spouses that demonstrate some of the common employment difficulties they encounter, and training materials for human resource professionals, hiring managers and C-Suite executives who wish to learn more about recruiting and hiring military spouse.
View/download the full report and infographic of “The Force Behind the Force: A Business Case for Leveraging Military Spouse Talent”.
Institute for Veterans and Military Families (IVMF)
Karen Oliver Moore, VP, Global Communications
Prudential Financial, Inc.
Phone: 973-802-8533 / Email: firstname.lastname@example.org
About the Institute for Veterans and Military Families (IVMF)
The Institute for Veterans and Military Families (IVMF) is the first interdisciplinary national institute in higher education focused on the social, economic, education and policy issues impacting veterans and their families post-service. Supported by a world-class advisory board and public and private partners committed to advancing the post-service lives of America’s service members, veterans and their families, the IVMF and its staff of more than 60 professionals deliver class-leading programs in career, vocations, and entrepreneurship education and training. The IVMF also provides actionable and national impacting research, policy analysis and program evaluation; coordinates comprehensive collective impact strategies; and works with communities and non-profits to enhance service delivery for veterans and their families. Read more at IVMF.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of March 31, 2016, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit Prudential Financial.