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Taking a career leap can be scary, but all professionals inevitably have to face the music; most will change jobs or industries at some point, whether they want to or not. But for U.S. veterans exiting the service and heading into civilian life, the transition is especially difficult—and it’s an issue that fuels their unemployment. That’s why the financial services titan United States is putting its money where its mouth is with a $500 million initiative to get members back on their feet.
“What we’ve done here since I took over as CEO is a completely revamped approach to hiring our veterans and military spouses,” the company’s CEO, Juan C. Andrade, said. Good luck. “This is not only for the benefit of USAA – it is for the benefit of the military community.”
USAA launched the “Honor Through Action” program by 2025, which commits half a billion dollars over the next five years to improve the careers, financial security, and well-being of its customers—many of whom are active military, veterans, or related to them. It’s the brainchild of Andrade, who stepped into the company’s top role in April of last year. pivot. And for thousands of USAA members, the situation is dire.
About half of veterans quit their initial post-military jobs within the first year, according to the Defense Department’s Transition Assistance Program, and USAA’s CEO believes a lack of thoughtful transition services is a major culprit. When colonels, generals, and sergeants leave their high-powered jobs, Andrade says some struggle to adjust emotionally and skillfully.
While businesses are required to re-employ former employees returning from military duty by US federal law, those stepping into civilian roles for the first time often need assistance. And even before they get out of the military, their partners’ careers tend to suffer.
The unemployment rate for military spouses has hovered around 22% over the past decade, according to Hiring Our Heroes. That’s more than four times higher than the 4.6% nationwide unemployment rate. If their partners had to move for a new job assignment, spouses were 136% more likely to be unemployed within six months, according to a Defense Department survey in 2024.
This trend of low veteran job retention and spousal unemployment can wreak havoc on the financial and professional livelihoods of America’s military families. So Andrade led the charge to get them on the payroll. Like corporations JPMorgan has ramped up in ex-military resources, and services such as Armed Forces YMCA long time veterans helper; But USAA’s CEO says the issue requires a more targeted approach.
“While there are many organizations that are very well-intentioned and doing some very good work, the approach is fragmented,” Andrade explained. “The problem with companies in the private sector is (if they) do not experience that service, or if they do not have a large population of employees who serve, it is very difficult to understand the fact that they have lost their tribe. The fact that, in many ways, they have lost the feeling of belonging to something greater than themselves.”
USAA’s $500 million plan and new partnership avenues
USAA already has several veteran employment initiatives on its docket this year. This March, the company spoke luck it will host a national program of the US Chamber of Commerce Foundation, Hire our Heroesin San Antonio to connect with the issue. And in the coming months, USAA will host events with the nonprofit and HR association SHRM to brainstorm the best ways to improve US military hiring.
In development of Honor Through Action, USAA also launched two 18-month fellowship programs designed to transition military personnel into full-time positions with the company: Summit and Signal. In three six-month rotations, participants tour different parts of the financial services giant to find the best fit. The future leadership track, Summit, rotates fellows through departments including business strategy, operations planning, and product ownership. Starting over can be isolating, which is why USAA ensures that military personnel don’t walk these career paths alone—veterans are connected with mentors every step of the way.
“Those 18 months are very important, because it will show you: What can you do? How does it work in a private company? What do you do every day?” Andrade said. “They get one-on-one mentorship and are supported every step of the way by people who have already walked in their shoes and succeeded, so that all helps.”
And like other companies looking for white talent, USAA is putting a special emphasis on AI-savvy workers. That’s where the Signal partnership comes into play: the path focuses on tech-savvy applicants, cycling them between tasks including technical solutions and data processing. The CEO says the military community is brimming with tech talent, and some are already arriving for initial training from the U.S. Cyber Command papers. Apart from putting former military members back to work, Signal is also proving to be very beneficial for the business itself.
“We are always looking for people with skills and expertise in data science or data engineering,” Andrade continued. “As they retire from the Air Force, Army, Navy, we bring them into a special program focused on their skills and how they can help us from the technology experience.”
Serving an overlooked population: veteran spouses struggling with unemployment
Even when they are not deployed, U.S. military personnel battle housing wars—depression, financial insecurity, and homelessness. But one group is often ignored in the fight: their spouses. Husbands and wives of military personnel face high rates of unemployment and long-term instability due to the nature of their partners’ jobs. But Andrade recognizes them as an overlooked and underutilized group of professionals.
“Military spouses are an incredible source of talent – they are literally the CFO and the CEO of their household,” said USAA’s CEO. “If their spouses are deployed, if there is a permanent change of station for their spouse, they have to leave their job.
USAA is funneling its resources to get to the root of the issue; as part of the Honor Through Action initiative, the company said luck it will host the Military Spouse Advisory Councils in San Antonio this March. The mission is to help shape policy, programs, and resources to better serve the unique needs of military families. In the same month, the business also plans to collaborate with other organizations to fund the release of Blue Star Families in Military Spouse Employment Research with the aim of targeting actionable solutions to their looming unemployment. And reflecting internally, Andrade reports that USAA will continue to lead by example.
“We can offer a lot of flexibility … Having that level of empathy and understanding is going to be very critical,” he said. “This is where we hope—with Honor Through Action—to help companies understand the value that (military spouses) have, but also why you should treat them differently in their personal circumstances.”
This story was originally featured on Fortune.com
