New research paper explores how employers can help with
transitioning from military service, as well as finances, mental
health support and caregiving needs
New research from Easterseals — one of the nation’s leading
disability and community services providers — and Voya Cares® —
which provides resources, thought leadership and advocacy for
disability inclusion, was released today. The results of this new
study, which are further outlined in a research paper, titled
“Disabled Veterans and employers: moving from surviving to
thriving,” underscore the importance for companies to understand
more about the needs of veterans with disabilities. With better
understanding, employers can provide benefits to help meet their
needs and education to encourage veterans and their caregivers to
take full advantage of these resources. Among other findings, the
research shows:
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- While 60% of all veterans described their transition from the
service as “easy,” only 37% of veterans with disabilities said the
same.
- About half (51%) of disabled veterans are confident in their
ability to cover day-to-day expenses, and few are confident they
could handle the cost of retirement.
- Only 55% of disabled veterans are satisfied with their mental
and emotional health (as compared to 75% of nondisabled
veterans).
“Employers are increasingly recruiting veterans, in part because
of a common set of characteristics that make them great employees,
such as leadership, adaptability and teamwork. Yet there is little
awareness that more than one-third of veterans nationwide have a
disability, and their needs in the workplace may be quite different
than those of their nondisabled colleagues. Our research confirms
that a gap exists between the support disabled veterans identify
they need as employees and the benefits and services that are
offered and used in the workplace,” said Jessica Tuman, head of
Voya Cares Center of Excellence at Voya Financial. “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.”
The researchers asked disabled veterans and employers about
benefits, programs and services identified with disabled veterans’
needs in mind. Disabled veterans are most interested in receiving
help from their employers to maximize their benefits from all
sources, both from employers and the U.S. Department of Veterans
Affairs (VA). While most employers are interested in offering
specific workplace benefits to support disabled veteran employees,
few currently offer each of the benefits cited through the
research. As a result, more than half of veterans with disabilities
believe the following benefits to be particularly helpful:
- Help to maximize dollars spent across VA benefits and employer
benefits, such as retirement plans, health savings accounts (HSAs),
healthcare insurance, and other voluntary benefits (66%);
- A workplace emergency savings fund to put money aside through
payroll deduction (61%);
- Support and resources to help make the transition from military
service to civilian jobs (58%);
- Help estimating income needs in retirement, including future
health care costs, as well as personalized advice services and
financial planning for retirement (57%); and
- Expanded health insurance coverage for mental illness
(56%).
“The transition from military service to civilian life can
present complexities and difficulties, particularly for those who
have service-connected disabilities,” said Kendra Davenport,
president and CEO of Easterseals. “Veterans develop valuable skills
during their military service, skills that are valued by employers,
but it is not always clear to employers how those skills translate
into the civilian workforce. Caregivers provide critical support to
our veterans, and they also experience some of the same career
challenges and financial insecurity that veterans face. Every day,
Easterseals engages local organizations and communities to connect
veterans and military families with what they need for meaningful
employment, education and overall wellness. That’s why we conducted
this study to identify the challenges disabled veterans and their
caregivers face, so we can work together to help improve the lives
of those who bravely served our country.”
Underscoring the extent of their challenges, veterans with
disabilities rated their satisfaction with key social determinants
of health significantly lower than the satisfaction level of
nondisabled veterans, including opportunities for professional
growth (57% vs. 66%), recreation (64% vs. 76%) and connections with
friends and the community (64% vs 72%).
In addition, caregivers of disabled veterans are facing more
extreme challenges that are not being addressed by their employers.
While 6.5 million adults are unpaid caregivers for veterans in
America1, 86% say caregiving has impacted their work or
education.
Through this research collaboration, Voya Cares and Easterseals
aim to drive not only awareness and understanding but also action
around what it means to support veterans with disabilities and
their caregivers. Many nonprofit organizations, including
Easterseals, offer services and support specifically designed to
respond to many of the needs cited by veterans and caregivers in
the research. Through collaboration with local community-based
nonprofits, corporations can access such services and support for
veterans and caregivers they employ.
The results of the research are based on a national survey
conducted by Edge Research of veterans with and without
disabilities, caregivers of veterans and their employers. The full
research paper, with expanded findings, is available at
easterseals.com/mediaroom and voyacares.com/disabledvets.
1. “Caregivers of Veterans Spend $11,500 on Average Each Year on
Expenses, New Data Shows,” Military.com, and U.S. Department of
Veterans Affairs, Health Research, Caregivers and Family
Support.
Methodology
Voya Cares®, in collaboration with Easterseals, commissioned
Edge Research to conduct a national survey among disabled veterans
(n=728) and nondisabled veterans (n=301), caregivers of disabled
veterans (n=305), and employers (N=511). Edge Research fielded the
survey from December 2023 to January 2024. To learn more about
these audiences, 24 qualitative in-depth interviews were conducted
virtually in January and February 2024. Interviews included eight
representatives from each audience, including veterans with
disabilities, caregivers and employers.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth
and investment company with approximately 9,000 employees who are
focused on achieving Voya’s aspirational vision: Clearing your path
to financial confidence and a more fulfilling life. Through
products, solutions and technologies, Voya helps its 15.2 million
individual, workplace and institutional clients become well
planned, well invested and well protected. Benefitfocus, a Voya
company and a leading benefits administration provider, extends the
reach of Voya’s workplace benefits and savings offerings by
engaging directly with over 12 million employees in the U.S.
Certified as a “Great Place to Work” by the Great Place to Work®
Institute, Voya is purpose-driven and committed to conducting
business in a way that is economically, ethically, socially and
environmentally responsible. Voya has earned recognition as: one of
the World’s Most Ethical Companies® by Ethisphere; a member of the
Bloomberg Gender-Equality Index; and a “Best Place to Work for
Disability Inclusion” on the Disability Equality Index. For more
information, visit voya.com. Follow Voya Financial on Facebook,
LinkedIn and Instagram.
About Voya Cares®
As an extension of Voya’s mission to make a secure financial
future possible, the Voya Cares program is committed to making a
positive difference in the lives of people with disabilities and
special needs from birth through aging, by providing advocacy,
resources and solutions. Visit voyacares.com to learn more.
About Easterseals
Easterseals is leading the way to full equity, inclusion, and
access through life-changing disability and community services. For
more than 100 years, we have worked tirelessly with our partners to
enhance quality of life and expand local access to healthcare,
education, and employment opportunities. And we won’t rest until
every one of us is valued, respected, and accepted. Through our
national network of Affiliates, Easterseals provides essential
services and on-the-ground supports to more than 1.5 million people
each year — from early childhood programs for the critical first
five years, to autism services, medical rehabilitation and
employment programs, Veterans’ services, and more. Our public
education, policy, and advocacy initiatives positively shape
perceptions and address the urgent and evolving needs of the one in
four Americans living with disabilities today. Together, we’re
empowering people with disabilities, families, and communities to
be full and equal participants in society. Learn more at
easterseals.com.
VOYA-CR
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version on businesswire.com: https://www.businesswire.com/news/home/20240416503662/en/
Media Contacts: Natasha D. Smith Voya Financial
Natasha.Smith@voya.com Zach Hudson NP Agency (for Easterseals)
zach@npagency.com
Voya Financial (NYSE:VOYA)
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