RSSIssue 7:9 – Friday, September 1, 2006
The VetJobs Early Eagle is for member employers, recruiters, friends and supporters of VetJobs.
VetJobs is sponsored and partially owned by the Veterans of Foreign Wars of the United States.
VetJobs is the only job board endorsed by the Vietnam Veterans of America.
This month’s Early Eagle is sponsored by: TECHEXPO Top Secret
Contents:
1. Message from the Top
2. 2006 Red Alert Now Available
3. Companies with Prior Military CEOs Perform Better
4. Global Summit for Online Recruitment
5. Beware – Violating USERRA Can Be Costly!
6. Hot Paying Jobs
7. Visa Cap Reached for Workers with Advanced Degrees
8. Lawsuits Could Raise Scrutiny of Compensation Surveys
9. National Guard and Reserve Mobilized as of August 30, 2006
10. Significant Events this Month in Military History
Thank you for reading the VetJobs Early Eagle employer newsletter. If you like this newsletter and what VetJobs and the VFW do to assist veterans and their family members find employment, please go to Weddles Website and vote VetJobs for the WEDDLE’s User’s Choice Award.
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1. Message from the Top
We have another great reason to hire veterans! A recent study by Korn/Ferry found companies lead by CEOs with a military background have outperformed the S&P 500 Index by as much as 20% over the past three, five and 10-year periods (see Article 3 below). For many of you this should come as no surprise. Veterans are more mission oriented and provide the leadership, as opposed to just being managers, to make a company successful. I find it interesting that as one studies many of the recent corporate scandals there is an absence of Eagle Scouts, prior-military personnel and Junior Achievement types. The reason for the absence is ethics. A person who has been schooled in military leadership and understands the importance of taking care of your “troops� could not participate in the activities of a Ken Lay at Enron. The Korn/Ferry study is further confirmation of why more companies need the leadership that military service provides!
On September 11, we commemorate those who died from the attack on America by terrorists. The day will be marked throughout the United States and abroad with services of remembrance. Please observe a solemn moment of silence on the morning on September 11 as we remember not only the terror, but also the heroism of those who stood in harm’s way.
Since that fateful day in 2001, there have been many terrorist attacks against democracies worldwide. Let us not forget that the world is involved in a prolonged conflict with a non-state, radical Islamic terrorist group that wants to eliminate the nation state as we know it and the freedoms that have come to identify the democracies of the world. Contrary to what some may think, we can not negotiate with radical Islamic terrorists, as their sole goal is our elimination and the restoration of the Caliphate. They care not for who they kill in order to reach their goal. This conflict will be with us for a long, long time. The United States and other democracies did not start the conflict. But we will not back away from it until we have won! Let us pray that our leaders have the will to sustain this fight to the finish and commit whatever is necessary to win.
September has many military related dates. September 2 is V-J Day when Japan formally surrendered; September 16th is National POW/MIA Day; September 18th is the birthday of the United States Air Force; September 28th is Gold Star Mother’s Day; and September 29th is VFW Day when the Veterans of Foreign Wars was established. This month we also celebrate Labor Day, which is more commonly recognized as the last holiday of summer. It is appropriate that we pay tribute on Labor Day to the contributors of so much of America’s strength, freedom, and leadership, the American worker.
In August I had the opportunity to attend the VFW Annual Convention in Reno, NV. Vice President Chaney addressed the opening meeting, stating, “We have only two options in Iraq—victory or defeat. And this nation will not pursue a policy of retreat. We will complete the mission, we will get it done right and then we will return with honor. We cannot allow self-defeating pessimism to prevail.� Defense Secretary Donald Rumsfeld told attendees at the Monday night convention banquet that two virtues must prevail to achieve victory in the war against Islamic terrorism. “History has shown time and again that if Americans have the patience and perseverance to see an effort through that we prevail. And the result of that perseverance is a safer and more secure world.� These words were well received by the thousands of attendees.
On the economic front, hiring perked up in August as employers added 128,000 jobs, more than predicted, and pulled down the unemployment rate to 4.7 percent, sending a Labor Day message that the economic expansion still has staying power. The latest snapshot, released by the Labor Department, was a bit brighter than expected and should ease any fears that the recovery is in danger of fizzling out. Keep in mind that normal unemployment is now considered to be 5.0%. With national unemployment at 4.7%, we have more jobs than people to fill them. The book Impending Crisis: Too Many Jobs, Not Enough People by Roger Herman and Joyce Gioia has come true. The country is in a severe labor shortage of qualified candidates.
Finally, I hope to see many of you at the Global Summit for Online Recruitment (see Article 4 below) to be held in Chicago September 12 and 13. Onrec.com/Online Recruitment Magazine is hosting the conference and it is shaping up to be a great conference. Be sure to stop by the VetJobs booth while attending!
As always, if there is anything we at VetJobs can do for you, please do not hesitate to call or email.
And remember, Freedom Is Never Free – Support Our Armed Forces and Veterans!
Best regards,
Ted Daywalt
President
/—-September Early Eagle sponsor is TECHEXPO—-\
TECHEXPO Top Secret job fairs bring you face to face with security-cleared professionals Tuesday, September 12 in McLean, VA; Thursday, September 14 in Baltimore, MD; and Thursday September 28th in NYC. Â For 2006 event schedule, contact Seth Berk at 212-655-4505 x 244 or SBerk@TechExpoUSA.com. Â http://www.TechExpoUSA.com
\—–Please visit your September Early Eagle sponsor TECHEXPO —–/
2. 2006 Red Alert Now Available
There is a major paradigm shift that has taken place in the way candidates find jobs. Do you understand the shift? Would you like to? You can read about it in the 2006 Red Alert which is now published. You can order a copy at The Herman Group. The Red Alert explains what is happening in today’s employment market and provides a guide to what is going to happen next. This is the third year VetJobs has co-written this paper with Roger Herman and Joyce Gioia of The Herman Group. The last two year’s issues were met with rave reviews and this year’s publication is the best one yet! So order your’s today!
3. Companies with Prior Military CEOs Perform Better
Korn/Ferry International found companies lead by CEOs with a military background have outperformed the S&P 500 Index by as much as 20% over the past three, five and 10-year periods. Military Experience and CEOs: Is There a Link? published by Korn/Ferry in cooperation with the Economist Intelligence Unit also finds that ex-military CEOs tend to last longer in the job, with an average tenure of 7.2 years, while CEOs without military experience have an average tenure of 4.6 years. In addition, the study finds that the 59 companies on the S&P 500 headed by ex-military CEOs provide an average annual shareholder return of 21% over the three year period ending September 2005, versus 11% for the S&P 500 Index during the same time. For a five-year period, the ex-military CEOs provided a 9.5% return while the Index provided a –10.7% return. For a ten-year period, the ex-military CEOs provided a 12.2% return versus a 9.4% return for the S&P 500 Index. Moreover, the study suggests that CEOs with military experience commanding deft management of stressful situations during military operations may well enhance performance in a corporate environment.
4. Global Summit for Online Recruitment
Onrec.com/Online Recruitment Magazine, a publication based in the United Kingdom, is holding its first U.S.-based conference in Chicago, IL on September 12-13, 2006. Called its Global Summit for Online Recruitment, the conference will feature well known U.S.-based speakers, such as Joel Cheesman, Tony Lee, Shally Steckerl, John Sumser, and Peter Weddle. Unique to this conference, however, will be a whole new complement of speakers from around the globe, presenting a fascinating, new perspective on Best Practices in online recruitment. Speakers include:
-Jerome Ternynck, the CEO of MrTed, a European application tracking system;
-John Benson, CEO of eFinancialCareers.com;
-Matt Parker, Managing Director of StepStone Solutions; and
-Patrick Sullivan, the President of Workopolis.com.
VetJobs will be exhibiting at this conference, so come by and say hi! For more details, visit www.onrec.com.
5. Beware – Violating USERRA Can Be Costly!
A federal judge in Ohio recently awarded a driver almost $84,000 in compensatory and punitive damages after finding that the company denied him a pay differential for time he spent in basic training after he voluntarily enlisted into active duty. The judge awarded the employee double compensatory damages ($33,926), punitive damages ($50,000) and attorneys’ fees after finding that the denial of the benefit was “improper and willful.” Clients should be aware that USERRA does not require employers to pay employees during military leave, but if an employer establishes a benefit it may not “discriminate” against employees whose military service is voluntary. A free link to the decision is not available, but Westlaw customers may find it at 2006 WL 2035650 (Koehler v. PepsiAmerica).
6. Hot Paying Jobs
The National Association of Colleges and Employers (NACE) Summer 2006 Salary Survey reported the Top 10 Jobs and average starting salaries for the class of 2006:
1. Field Engineering — $51,162
2. Consulting — $50,657
3. Project Engineering — $49,888
4. Design/Construction Engineer — $48,025
5. Financial/Treasury Analysis — $46,448
6. Accounting (Public) — $45,518
7. Accounting (Private) — $44,240
8. Management Trainee (Entry) — $39,501
9. Sales — $38,343
10. Teaching — $31,408
7. Visa Cap Reached for Workers with Advanced Degrees
The H1-B visa program reached its fiscal 2007 limit for petitions it accepts from U.S. employers looking to hire foreign workers with advanced degrees obtained from a U.S. college or university, the U.S. Citizenship and Immigration Services (USCIS) announced July 28. The cap applies to those who obtained master’s degrees or higher. July 26 was the final receipt date for employer H-1B petition requests for those types of workers. Requests received on that date will be subject to a computer-generated random selection process. Petition requests from employers received after July 26 will be rejected unless the petition is eligible for a separate cap exemption; petitions for current H-1B workers do not count toward the mandated cap, according to the USCIS. Rejected petitions will be returned with the filing fee, and employers may re-submit their petitions when H-1B visas become available for fiscal 2008, according to USCIS. April 1, 2007, is the earliest an employer may file a petition requesting an H-1B visa for fiscal 2008 for employment starting Oct. 1, 2007.
8. Lawsuits Could Raise Scrutiny of Compensation Surveys
Participating in salary surveys helps many employers stay on top of compensation trends in their industries. Such surveys often act as the bread and butter for companies’ recruiting and retention efforts. But a recent spate of lawsuits may put this kind of information sharing under a microscope. Four class-action lawsuits filed simultaneously in June against separately owned hospitals in Chicago; Albany, New York; Memphis, Tennessee; and San Antonio allege that they conspired to keep nurses’ wages down. The lawsuits, which were filed in federal court in the four cities, allege that the hospitals exchanged compensation information through telephone conversations, meetings and written surveys and that “the exchange of this information itself has suppressed competition” among the hospitals in how they compensate their nurses and thus kept wages low in violation of antitrust laws. The suits have raised the eyebrows of labor lawyers, who note that evidence for the cases was uncovered by the Service Employees International Union. If the suits are successful, it could mean that all employers have to take extra steps to make sure the salary surveys they participate in do not violate antitrust laws, says Russell Miller, a senior client partner in the executive compensation group of Korn/Ferry International. Experts warn that executives may have to be more careful when having casual conversations about compensation, which often occurs at trade shows or industry events.
9. National Guard and Reserve Mobilized as of August 30, 2006
Total number currently on active duty in support of the partial mobilization for the Army National Guard and Army Reserve is 95,403; Navy Reserve, 5,858; Air National Guard and Air Force Reserve, 6,875; Marine Corps Reserve, 7,350; and the Coast Guard Reserve, 315. This brings the total National Guard and Reserve personnel, who have been mobilized, to 115,801, including both units and individual augmentees. A cumulative roster of all National Guard and Reserve personnel, who are currently mobilized, can be found at http://www.defenselink.mil/news/Aug2006/d20060830ngr.pdf .
10. Significant Events this Month in Military History
1783 – The Peace Treaty of Versailles was signed between the USA, Britain, France, and Spain, ending the American Revolution.
1787 – United States Constitution Approved
1814 – US Naval Captain Oliver Hazard Perry defeated a British flotilla in the Battle of Lake Erie (War of 1812).
1814 – During a British naval attack on the City of Baltimore, Francis Scott Key composed a poem entitled “The Star Spangled Banner.”
1847 – American forces captured Mexico City, effectively ending the Mexican War.
1864 – Confederate troops abandoned Atlanta in the face of continuing attacks by federals under General W.S. Sherman (Civil War).
1899 – Founding of the Veterans of Foreign Wars of the United States
1908 – LT Thomas E. Selfridge was killed at Ft. Myer, VA, in a plane flown by Orville Wright. Selfridge was the first man to die in an airplane accident.
1939 – German troops invaded Poland, beginning World War II.
1939 – Britain and France declared war on Germany (World War II).
1941 – British Naval forces sank the German battleship Bismarck off the French coast (World War II).
1943 – The allied invasion of Italy began (World War II).
1945 – V-J Day, Japan signed formal surrender (World War II).
1951 – Battle of Heart Break Ridge began (Korean War).
1962 – United States Naval Sea Cadet Corps Incorporated
1967 – Siege of Con Thien Began (Vietnam War).
1969 – President Richard Nixon ordered resumption of heavy bombing of North Vietnamese targets (Vietnam War).
1994 – Operation Uphold Democracy began (Haiti).
2001 – Al Queda terrorists launch attacks using commercial airliners on the New York City Twin Towers, the Pentagon and an attempted strike that lead to the downing of United Airlines Flight 93 in Pennsylvania.