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The VET Newsletter

Bridging the Civilian-Military Divide

March 4, 2022

How to expand and improve your network.

March 04, 2022

Before launching into this month’s VET topic, I wanted to share a few thoughts on the developing situation in Ukraine. Russia’s actions represent an unprovoked attack against a sovereign nation and, like many of you, my heart goes out to the Ukrainian people and their leaders. With a sincere prayer this conflict reaches a peaceful resolution soon, I would also like to remember the soldiers on both sides of this conflict. To quote General Douglas MacArthur: “The soldier above all others prays for peace, for it is the soldier who must suffer and bear the deepest wounds and scars of war.”

In last month’s issue of the VET I wrote about the Great Resignation and how veterans can help companies prevent the loss of key team members. I focused on this topic because human capital needs – recruiting and retention – are among the most acute pain points for growth companies today. My team (the Peak Performance Group) and my colleagues across Summit continue to work hard to leverage our networks in support of teams across our portfolio and we have committed to redoubling our efforts to identify high-potential candidates for open positions.

In support of this commitment, I was canvassing LinkedIn several weeks ago to identify relevant contacts and quickly realized I had a gap in my network: many of my connections are fellow veterans who either remain in the service today or are in a related industry (e.g. defense contracting). So, I began researching articles on “how to expand and improve your network” and stumbled across some interesting research on LinkedIn. Effectively, there are three factors that determine opportunity access (defined as network):  where you grow up, where you go to school and where you work.

As I applied these factors to myself, I realized I had my work cut out for me: I grew up in a small town in New Mexico, went to a military school (West Point) and now work at Summit Partners. In short, many people in my network are from a state not known for commerce (45th in GDP per capita in the US) or work in a sector that’s not relevant to our portfolio companies. These factors effectively create a natural divide, or “network gap,” that excludes individuals whose backgrounds are different from mine.

Acknowledging this divide, I began researching strategies to bridge the gap and came across the LinkedIn Veteran Opportunity Report. The report summarizes data and strategies for veterans (including specific ones for woman veterans), many of which I’ve alluded to in the past as compelling reasons to hire veterans:

  • Underemployment: Veterans are 15.6% more likely to be underemployed (defined as engaging in work that does not make full use of one’s skills or abilities); the same stat is 22% higher for woman veterans
  • Retention: On average, veterans remain with their initial company post-transition 8.3% longer than nonveterans; for woman veterans, retention is even higher at 16%
  • Experience: Veterans with bachelor’s degrees have ~3x more work experience than nonveterans, unsurprising given most vets serve their country for an average of seven years in advance of transitioning

There is also a section in the Veterans Opportunity Report for employers offering several recommendations on page 24. In my view, there are two key takeaways for leaders of growth companies:

  • Raise Awareness: Develop programs and share best practices to elevate hiring managers’ understanding of veteran value and educational experience. If that’s too much, too fast for you, simply educate your recruiting team on ways to include veterans in your candidate pool. One example is LinkedIn’s Recruiter product, which allows you to filter searches based on veteran status

 

  • Help Bridge the Gap: Just as I have a divide in my network (like most veterans), you (and likely your recruiting team) have one too. If you’re committed to hiring veterans in your company, bridge the gap by simply connecting to one veteran and starting a conversation

Charlie Mike*

Dave & the Summit Partners Veterans Community

* “Charlie Mike” is the military phonetic alphabet for the letters C and M which stand for “continue the mission,” a phrase commonly used in tactical situations

Veteran Engagement Team Reads & Resources (R&R)


Veterans Community Member Spotlight

In subsequent editions of the VET, we will profile members of our community, discussing their service, transition experience, and how they came to work in growth oriented business.  If you have recommendations for someone we should profile or would like to volunteer yourself, please email us here. If you missed it, here is our January Veteran Spotlight.

 

March Book of the Month

Where Men Win Glory – Jon Krakauer
In 2002, Pat Tillman walked away from a multimillion-dollar NFL contract to join the Army and became an icon of American patriotism. When he was killed in Afghanistan two years later, a legend was born.

About the Author

Dave Averett is a Managing Director at Summit Partners, and the head of Summit’s Peak Performance Group (PPG). Dave works with management teams to help identify and execute growth strategies that build long-term value. Dave is also an Army Veteran, and a graduate of the United States Military Academy at West Point.