What is the DoD SkillBridge Program
The DoD SkillBridge program is a phenomenal opportunity for both transitioning service members and civilian employers. It allows service members within their last 180 days of service to gain invaluable civilian work experience through internships, apprenticeships, or on-the-job training with approved industry partners. This not only provides service members with a smoother transition and marketable skills for post-military careers, but also offers employers access to a highly trained and motivated workforce at no cost during the training period. By connecting military talent with civilian opportunities, SkillBridge creates a win-win scenario, fostering career readiness for service members and providing businesses with dedicated and capable future employees.
How does SkillBridge save costs?
Most new employees take about 90 days to train and get up to full speed. Let’s assume that your organization builds a SkillBridge program to last only half the allowed time. Just 90 Days or 12 weeks. Here is how your costs savings breakdown:
Example: Salaried
If your average full-time salary for a particular role is 75K a year. You pay These employees $6250 / month or 1582.50 a week.
Example: Hourly
A new hourly employee requires several months of training to build proficiency. You pay those employees $26 / Hour, $4,160/month or $1,040 /week.
Program Costs
Assuming a cost of $85,000 for a dedicated recruiter who hires just 4 Skillbridge candidates a month (48/ year) for salaried roles and budget of $10,000 for program resources (marketing materials and travel to regional bases).
Salaried Savings
At $6,250 a month x 12 weeks = $18,750 labor cost saved per SkillBridge hire. Need to hire 10? Save = $187,500 (savings). Need 20? Save = $375,000 labor costs.
Hourly Savings
A single Skillbridge candidate would save you $12,480 in direct labor costs that you wouldn’t have to spend. 10 candidates would save you $124,800 in labor costs.
Program Savings
Using the Salaried model, SkillBridge savings pays for the itself PLUS provides an additional DIRECT labor savings of $805,000 in Labor costs PER YEAR.
How Does Magnet Help?
We guide you through the application and approval processes with DoD and then work with your team to create a program that is not only compliant with DoD, but becomes a powerhouse for your recruiting efforts.
Then we train your team to operate and leverage your program to engage one of the most highly skilled talent communities there is.