Hiring the formerly incarcerated is good for business.
The facts may surprise you.
Extending your company’s hiring pool to include the formerly incarcerated can have major benefits for your business and your bottom line.
When President Barack Obama introduced his Fair Chance Business Pledge last year, he called on corporate America to step up and take a stand in providing
Companies like Facebook, Google, Apple, Microsoft, Coca-Cola, American Airlines and Walmart all agreed that it was their responsibility to offer second chances, to help reunite families, improve American communities and save the country tens of billions of dollars in costs relating to recidivism.
Jobs are truly the silver bullet: nearly 80% of people released from jail or prison will return within five years. Nearly all of them will be unemployed when rearrested. But people with jobs nearly never recidivate.
But beyond a sense of corporate responsibility, companies benefit greatly when they hire the formerly incarcerated. For example:
They qualify for Federal tax credits for each hire;
They automatically are indemnified for loss due to a crime committed;
New studies show that ex-offenders can actually be better employees than non-offenders.