The Department of Veterans Affairs (VA) Center for Innovation, together with the Corporation for National and Community Service’s Social Innovation Fund, awarded the Veterans Employment Pay for Success (VEPFS) Program grant to the social investment firm, Social Finance, Inc.
As awarded, the $3 million employment, labor and training grant will support the employment rehabilitation of approximately 500 Veterans over a five-year period. By using the Pay for Success model, VA will be better able to ensure the measureable successes of Veterans seeking vocational rehabilitation and employment based on their skills and abilities, particulary those living with service-connected post-traumatic stress disorder.
PTSD can be a significant barrier to Veterans’ chances of finding and maintaining meaningful employment. This program will specifically address this challenge facing many of our nation’s Veterans.
“The Veterans Employment Pay for Success Program is a unique opportunity for VA to harness private sector capital and initiative in advancing our ability to improve the employment status of Veterans who are faced with the challenges of PTSD. This fusion of public and private efforts create a truly transformative model for public good,” said Patrick Littlefield, director of the VA Center for Innovation.