A firm that creates custom indexes that show the value U.S. military veterans bring to the workplace has launched an index with the help of Wilshire Associates that tracks the performance of public large-cap firms that are most supportive of veterans.
The Veterans Select index, created and owned by VETS Indexes LLC and calculated and maintained by Wilshire, measures the performance of publicly traded companies that have strong records hiring military veterans and members of the National Guard and Reserves.
The VETS Indexes eligible universe leverages selection criteria such as company culture, policies and reservist accommodations to identify companies that are the best employers of military veterans. The Veterans Select index is constructed from that universe and includes public companies that carry a market cap of $1 billion or more with liquidity greater than $40 million in average daily traded dollar volume.
"We provide the infrastructure, the guidance and tools to turn this idea into a tangible index," said Jason Schwarz, chief operating officer of Wilshire.
George Altman, managing director of VETS Indexes, said companies that hire veterans often see that decision rewarded financially. "Hiring veterans (is) not just about charity or doing something patriotic," Mr. Altman said. "Veterans are a uniquely valuable human resource, and companies that take advantage of this talent pool will see that show up in their bottom lines."
Mr. Altman noted that veterans have unique advantages that "civilian employees never have the chance to gain." For one thing, veterans are put in charge of millions of dollars of military equipment and make life-or-death decisions at a very young age. Plus, they're often well-trained in highly specialized sectors, such as logistics, technology, information technology and telecommunications, to name a few.