November 11th is the day set aside to thank and honor those who served the country in the military in both wartime and peacetime. Veterans Day also serves to raise awareness about the challenges veterans often face when transitioning from military careers to civilian life and the importance of providing them with support and opportunities for their post-military life.

In this article, we’ll consider some ways employers can show appreciation for former military members on Veterans Day and all year-round.

How Can Employers Honor Veterans on Veterans Day?

As an employer, there are many ways you can show appreciation for our veterans this Veterans Day. Here are some ideas:

Give Employees Time Off to Participate in Celebrations

Allowing your employees to attend a Veterans Day ceremony where they have an opportunity to interact with veterans is a great way to show appreciation. You could also inquire about the policies at your nearest VA hospital for volunteering to spend the day with a veteran.

Donate to Veteran-Focused Charities

There’s a plethora of organizations that offer support and services to our veterans. Why not look up and donate to some charities that make a difference in the veteran community in your area?

Fly the American Flag to Show Respect and Solidarity

Veterans Day is a great opportunity to fly the U.S. flag. Just be sure you observe the proper rules for display, i.e.:

• Never drag a U.S. flag on the ground or allow it to touch the ground.
• Don’t drape it over the hood, top, sides, or back of a vehicle.
• Don’t display the U.S. flag below any other flag, and always keep it at the center when other flags surround it.
• Don’t display tattered or torn flags. Flags in such conditions should be disposed of in a respectful way, preferably by burning.

Year-Round Ideas for Honoring Veterans

Hire More Veterans

Despite having devoted much of their lives and careers to our country, a large portion of veteran talent remains untapped. Approximately 200,000 military personnel transition to civilian life and work each year, and the number continues to grow, yet the number of available jobs remains low. In fact, only one in 20 civilian workers in the United States are veterans.

With veterans’ specialized skill sets and experiences like teamwork, problem-solving, ability to perform under pressure, discipline, communication, and more, there are significant opportunities for employers to leverage these strengths in their workforces.

Help Veteran Employees Build Financial Well-Being and Resilience

Core aspects of military life include frequent relocations, unpredictable deployments, and spouse employment challenges. Collectively, these can lead to individuals experiencing difficulties in meeting their financial commitments once they leave the military. From managing basic budgets to planning for long-term financial goals, a lack of financial literacy could result in detrimental consequences that impact individuals as well as their families.

According to a recent survey:

• 1 in 5 military and veteran families face this challenge: skipping meals, choosing between buying food or paying rent, and leaning on food pantries for support when times are particularly tough.
• Over three-quarters of military and veteran family respondents indicated they carry debt.
• Slightly more than half (51.2%) of military and veteran families stated they had experienced barriers to saving money over the past two years.
• Among veteran families, 38.4% of respondents reported they have less than $500 in an emergency savings fund or no savings fund at all.
• 8 in 10 respondents indicated that their finances had caused them at least some stress over the past 12 months.

Some reasons for financial stress among veterans include:

• Not staying in the military long enough to receive a pension.
• The rising cost of living and inflation.
• Trauma and PTSD.
• A lack of awareness about what resources or benefits are available to them.

Employers that hire veterans and invest in their financial education, honor these individuals’ commitment and sacrifices while helping ensure their long-term financial security and well-being.

Companies can provide veteran workers with the tools and knowledge they need to improve their financial wellness through employee benefits such as:

• 1-on-1 financial counseling.
• Saving and budgeting tools and calculators.
• On-demand pay (also known as Earned Wage Access.)

In Closing

Our nation owes a debt of gratitude to veterans for the service and sacrifices they have made on our behalf.

Today, compassionate employers are doing more to ensure that workers who have served this nation have the resources and tools they need to achieve their financial dreams after their military service.

How Payactiv Can Help

Payactiv is the partner of choice for businesses seeking to help their workers from all walks of life participate fully in both work and life. Our Earned Wage Access¹ services can help alleviate unexpected demands for cash. Employees value the financial well-being these flexible pay models provide, as they offer a dignified means to avoid unnecessary debt.

Payactiv app users also get access to free 1-on-1 financial counseling services from our partner, KOFE®, to get helpful budgeting skills and saving strategies, learn about options to reduce and pay off debt, and understand or improve credit scores.

And with our budgeting and saving tools², financial counseling, and discount marketplace, your entire workforce will be more empowered than ever to take control of their financial futures.

Learn more about Payactiv’s Service, or book your demo now.

¹Earned Wage Access requires employer participation. Employees can only access a portion of the wages they have earned to date.

²Goal-based saving is a set-aside account, and you will not receive interest or other earnings on the funds within the goal-based account.

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