OFCCP Updates Hiring Benchmark for Protected Veterans
The Office of Federal Contract Compliance Programs released its annual update of the hiring benchmark for protected veterans – 5.4%, effective March 31, 2023, based on recently-released data from the Bureau of Labor Statistics.
Under revised Vietnam Era Veterans’ Readjustment Assistance Act regulations issued in 2014, covered government (sub)contractors must set a veterans’ hiring benchmark for each of their establishments, either by using the OFCCP’s annual benchmark as set forth in its VEVRAA Benchmark Database, or by developing their own individualized benchmarks. While the original 2014 hiring benchmark was set at 7.2%, we have seen a steady decrease in the percentage each year since. The current 5.4% figure represents a slight decrease from last year’s 5.5% benchmark.