By
Kevin Langbaum
Published
Nov 11, 2024
Sidney “Sid” Goodfriend, an alumnus of the A&S class of ’82, epitomizes the concept of giving back to society after benefiting immensely from it. Armed with a prestigious education from Johns Hopkins University and a successful two-and-a-half-decade tenure on Wall Street, primarily at Merrill Lynch, Goodfriend acknowledges the numerous opportunities that his upbringing in the United States provided him.
However, he soon felt a compelling urge to shift his focus from personal success to the greater good. It was a pivotal moment as he contemplated the next chapter of his life—one that would be deeply rooted in public service.
In the late summer of 2007, memories of the September 11 attacks were still vivid, especially for Goodfriend, who recalls walking toward the World Trade Center just moments before the second tower was struck, leading to a traumatic experience that left a lasting impact. “No one was thinking about what to do for these men and women after their service was over,” he reflected, recognizing a significant gap in support for veterans.
Despite lacking formal experience in nonprofit management and connections within the military community, Goodfriend’s passion to make a difference fueled his initiative to establish American Corporate Partners (ACP) in 2008. The nonprofit was born out of a desire to support post-9/11 veterans and active-duty military spouses during their transition to the civilian workforce, a time that often proves challenging for many.
Much needed, ACP specifically pairs veterans and military spouses with seasoned mentors from Fortune 500 companies to help them navigate the complexities of job searching and career development. Since its inception, over 35,000 veterans and spouses have completed the mentorship program, while an additional 5,000-plus are currently engaged with mentors from more than 100 partner companies.
A challenge for veterans
According to a 2020 case study conducted by Thomas G. Mahnken, a professor of practice at the Johns Hopkins School of Advanced International Studies, the barriers faced by post-9/11 veterans during their job search go far beyond just securing employment. “Whether it is due to an unclear vision of the future, an inability to leverage military skills into workplace attributes, or simply due to a lack of personal and professional networks, post-9/11 veterans enter the workforce a step behind their civilian counterparts,” Mahnken noted.
One pressing issue identified is not merely unemployment but the more insidious problem of underemployment. Mahnken’s findings revealed that over two-thirds of veterans in the workforce reported that their current jobs do not align with their skills and qualifications acquired during military service, leading many to leave these positions prematurely and compounding the challenge of transitioning successfully to civilian life.
Among the various hurdles veterans encounter, the SAIS study highlighted three main challenges: competing against candidates with more lengthy experience in the civilian sector, translating military experience into desirable civilian skills, and the unfortunate gap in formal education or certification often preferred by employers.
“Nearly half of the veterans applying for jobs don’t have a four-year college degree, which many job descriptions require,” Goodfriend pointed out. “It’s a significant barrier that prevents them from even getting a foot in the door.” He emphasized that this lack of degree can exclude them from the majority of potential job opportunities.
Goodfriend believes it’s crucial to highlight the valuable skills veterans bring to the workplace. From their military backgrounds, many veterans possess unique abilities such as solving complex problems under pressure, demonstrating exceptional teamwork, handling high-stress environments, managing difficult work situations, and committing themselves to a larger cause.
“I’d like to think that the skills and values gained from a career in the military equal four years of studies,” Goodfriend passionately stated, advocating for recognition of military experience as equally valuable in the hiring process.
As part of the solution, Goodfriend emphasizes the importance of raising awareness and educating employers about veterans’ challenges so that they can remain mindful of these issues while hiring. “We may not always be able to hire them,” he admits. “But we must not exclude them from opportunities.” The change must begin with a shift in mindset.
One-on-one mentorship
Each participant in the ACP program engages in a yearlong mentorship experience, meeting at least once a month with a dedicated mentor. These mentors play a pivotal role in helping veterans articulate their unique experiences and the tangible benefits they offer to potential employers.
In addition to offering career guidance, mentors provide valuable insights into navigating the corporate landscape, which can be daunting for those entering the private sector for the first time. They assist with practical skills such as interviewing techniques and resume building while also addressing essential soft skills like fostering workplace relationships and self-advocacy, which can feel foreign for service-oriented individuals.
Another critical aspect of the ACP program is its focus on fostering networking opportunities. The SAIS case study points to a growing disconnect between veterans and the general public, especially as fewer younger Americans have direct relationships with military personnel. This distancing is further exacerbated by the decline in veteran representation among influential positions in Congress and the corporate sector, where the percentage of veterans in high-level executive roles has plummeted from 60% in 1984 to just 6.2% by 2014. Compounding this issue is the fact that, while hiring managers generally have a positive perception of veterans, more than half reported a lack of familiarity with military service.
Mentors from prominent companies serve as vital bridges to close this gap, facilitating personal introductions and connection that can help veterans overcome educational requirements in job descriptions. For instance, First Sergeant Manny Morejonreyes, who once participated in the ACP program, shared his experience in a CBS news report, noting how challenging it was to navigate job applications when his lack of a four-year degree often led to dismissal despite his extensive military experience. Fortunately, with mentorship support, he eventually secured a role at T-Mobile as an HR manager.
Goodfriend is proud to recount numerous success stories of protégés who have thrived after completing the program. One standout is John, who found himself back at home recovering from injuries sustained in Baghdad. His mentor introduced him to a CEO who recognized his potential and offered him a position. Within two years, he became one of the top sales representatives in the organization. Another veteran, once experiencing homelessness while living out of his truck, has now transitioned into a cybersecurity role thanks to guidance from his mentor and has recently moved into his first apartment. The ACP website features monthly Success Stories, highlighting such transformative journeys.
For Sid Goodfriend, the work with ACP is not just a professional endeavor; it is a heartfelt commitment to giving back to a country that has provided him with so much. Over the years, he has engaged corporate leaders in conversations about their responsibility to support veterans, asserting, “It’s our duty to help.” This ethos continues to drive ACP forward as it charts a path for veterans to find their place in the civilian workforce.
**Interview with Sidney “Sid” Goodfriend: Champion for Veterans’ Transition to Civilian Life**
**Editor:** Thank you for joining us today, Sid. Your journey from Wall Street to founding American Corporate Partners is remarkable. What motivated you to make such a significant shift in your career toward public service?
**Sid Goodfriend:** Thank you for having me! My decision was deeply influenced by my experiences on 9/11. Walking toward the World Trade Center just before the second tower was struck profoundly affected me. It made me realize the fragility of life and the importance of giving back, especially to those who have served our country. I wanted to help veterans navigate the transition to civilian life and ensure they receive the support they deserve.
**Editor:** That’s a powerful story. You mentioned the challenges veterans face when entering the workforce. Can you elaborate on some of these issues?
**Sid Goodfriend:** Absolutely. Many veterans struggle with underemployment, meaning their jobs don’t utilize their skills and qualifications. In fact, a study showed that over two-thirds of veterans felt their current positions didn’t align with their military experience. This mismatch can lead to frustration and premature job changes. Additionally, many veterans lack formal degrees, which can limit their job prospects right from the start.
**Editor:** How does American Corporate Partners address these challenges specifically?
**Sid Goodfriend:** Our program pairs veterans with seasoned mentors from Fortune 500 companies. This one-on-one mentorship lasts a year, during which mentors help veterans translate their military experience into job-ready skills and prepare for the corporate landscape. We focus on practical skills like resume building and interviewing, as well as fostering relationships and self-advocacy in a new professional environment.
**Editor:** That’s commendable. You’ve also talked about the importance of shifting employer perceptions regarding military experience. What steps do you suggest to achieve this?
**Sid Goodfriend:** It’s vital to educate employers about the unique skills veterans bring to the table—like problem-solving under pressure and exceptional teamwork. Employers need to recognize that valuable experiences gained in the military can be comparable, if not equal, to formal education. We also advocate for increased awareness among hiring managers so that they don’t overlook talented veterans simply due to biases or misconceptions.
**Editor:** Looking ahead, what changes do you hope to see in the landscape for veterans transitioning to civilian careers?
**Sid Goodfriend:** I hope to see a broader recognition of military skills in hiring practices, as well as increased outreach from companies to support veteran employment initiatives. Additionally, fostering a closer connection between civilians and veterans can help bridge gaps in understanding and respect, creating a more inclusive environment for everyone.
**Editor:** Thank you, Sid, for sharing your insights and the impactful work you’re doing at American Corporate Partners. It’s inspiring to see someone committed to making a difference in the lives of our veterans.
**Sid Goodfriend:** Thank you! I appreciate the opportunity to discuss these important issues. We have a long way to go, but together, we can make a significant impact.