Voya Cares and Easterseals shine a light on unmet needs of disabled veterans in the workplace

Veterans are highly prized by employers who are eager to hire them for the commonly recognized characteristics that make them great employees, such as leadership, adaptability and teamwork.

Yet there is little awareness that nearly one-third of the 8.39 million veterans nationwide have a disability, and their needs in the workplace may be quite different than those of their nondisabled colleagues.

As a result, Voya Cares® and Easterseals commissioned original research to better understand what it means to support veterans with disabilities and their caregivers in the workplace.

Our research uncovers gaps that exist between the support disabled veterans identify they need as employees and the benefits and services that are offered and used in the workplace.

We’ve focused in on three significant gap areas:

1. Veterans with disabilities experience a marked difference when transitioning from service: While 60% of all nondisabled veterans described their transition from the service as “easy,” only 37% of veterans with disabilities said the same. 
2. Veterans with disabilities struggle more with their finances: Barely half (51%) of disabled veterans are confident in their ability to cover day-to-day expenses, and only about a third are confident they could handle the cost of retirement. 51% have saved less than $50K for retirement.
3. And veterans with disabilities report that mental health benefits and services are top-of-mind: Only 55% of disabled veterans are satisfied with their mental and emotional health.

In addition, our research also found that their 6.5 million unpaid family caregivers struggle even more.

• 86% say caregiving has impacted their work or education in some way.
• 43% are dissatisfied with their financial health.

At Voya, we recognize that employers have a big role to play in addressing these gaps.

The study leads us to a number of critical actions employers may consider taking to ease the transition from military to civilian life and work and make a meaningful difference in the lives of disabled veterans and their caregivers.

1. Actively support disabled veterans past recruitment and hiring by building welcoming and supportive resources through ongoing employee education and awareness building, standing up a veterans employee resource group (ERG) and facilitating mentoring programs.
2. Cultivate a culture that is safe and inclusive for disabled veterans and their caregivers to disclose their situations and their needs through promoting the benefits of self-identification and how to access accommodations and provide training for both managers and employees to reduce bias and stigma around disabilities, especially mental health.
3. Provide education around mental health care and coverage. Although many employers have robust coverage, employees may not be aware of it.
4. Collaborate with nonprofit Veterans Services Organizations to provide the services that the employer cannot.
5. Find ways to support caregiver employees through flexible work opportunities and services to help with financial planning in the near- and long-term, including a concierge caregiving solution that helps them manage the day-to-day demands of their caregiving.
6. Design a benefits package with disabled veterans in mind to include:
   • Group life insurance — preferably guaranteed issue — and short- and long-term disability coverage. 
   • Emergency savings plans, as more than 80% of disabled veterans are not financially prepared for emergencies.
   • Auto enrollment into a retirement plan like a 401(k) and matching contributions to help prepare for retirement. 
   • Health Savings Accounts (HSA) (for high deductible medical plans) and Flexible Spending Accounts (FSA) to help cover unpredictable medical costs.

By addressing these challenges, employers have an opportunity to make a tangible difference in the financial health and overall career path of their employees who are disabled veterans, while better recruiting, hiring and retaining this valuable workforce.

Visit VoyaCares.com/DisabledVets to learn more about available resources.