The Office of Federal Contract Compliance Programs (OFCCP) has established an updated annual Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA) national hiring benchmark.
The new national benchmark is 5.4% and is effective March 31, 2023. The national benchmark dictates the percentage of total hires who are protected veterans that the contractor must seek to hire in the following AAP year. This continues a downward trend since 2014 when the benchmark was set at 7.4%. Affirmity software has been updated to reflect this new benchmark.
As a reminder, contractors required under VEVRAA to develop a written affirmative action program (AAP) must also establish a hiring benchmark for protected veterans every year. There are two options for how this can be accomplished with most companies selecting option 1:
- Option 1: Use the VEVRAA national hiring benchmark
- Option 2: Develop an individualized hiring benchmark taking into account the five factors described in 41 C.F.R. 60-300.45(b)(2)
More information on both these approaches can be found here. For additional information on VEVRAA, please visit the US Department of Labor website.
With Affirmity’s support, you’ll always be kept informed about upcoming changes to your reporting obligations. Contact us today and find out how we can help.
About the Author
Allen Appleby oversees product management at Affirmity with direct responsibility for establishing product vision, strategy, and roadmaps. He’s a seasoned product management leader who brings 20+ years of experience across multiple industries. He helps clients achieve positive business outcomes by ensuring Affirmity’s products deliver value across their affirmative action, EEO, and diversity and inclusion needs. Allen holds a Bachelor of Science in Business, an MBA in Marketing, and is Pragmatic Marketing certified.