Helping Veterans Transition: Sid Goodfriend’s American Corporate Partners Success Story

By
Kevin Langbaum

Published

Nov 11, 2024

Sidney “Sid” Goodfriend, a graduate of the Johns Hopkins School of Arts and Sciences in 1982, has reaped the benefits of his country’s opportunities throughout his life, from an esteemed education to a flourishing career on Wall Street. With these experiences under his belt, he felt compelled to give back and discover what he could do for his nation.

After dedicating 25 years to the investment sector, predominantly with Merrill Lynch, Goodfriend sought a new path that would focus on public service. He wanted to leverage his successful career for the benefit of others.

In 2007, he was gripped by memories and feelings surrounding the aftermath of 9/11, recalling the heart-stopping moment when he was walking toward the World Trade Center and “the second tower exploded right above my head.” The 9/11 attacks served as a catalyst for his desire to assist those who served in the military, especially during a time when the United States was actively deploying troops around the globe. He recognized that no one seemed to be considering the fate of these brave men and women once they returned home.

Despite lacking previous experience in nonprofit leadership or direct ties to the military, Goodfriend was fueled by a deep-rooted ambition to help veterans transition into civilian life. He strategically utilized his extensive network of connections within major American corporations to launch American Corporate Partners (ACP) in 2008.

American Corporate Partners has emerged as a vital nonprofit organization dedicated to pairing post-9/11 veterans and active-duty military spouses with mentors from top-tier companies. The initiative aims to support these individuals in securing meaningful employment and cultivating long-term careers as they make the often challenging transition to the civilian workforce.

Over the past 16 years, ACP has successfully facilitated mentorships for more than 35,000 veterans and military spouses, and currently, over 5,000 individuals are engaged in the program, matched with mentors from an impressive array of more than 100 companies.

A challenge for veterans

According to a 2020 case study conducted by Thomas G. Mahnken, a professor at the Johns Hopkins School of Advanced International Studies, many post-9/11 veterans encounter significant impediments as they embark on their career paths. Factors such as an unclear vision for the future, difficulty in translating military skills to workplace contexts, and limited personal and professional networks contribute to this daunting experience.

The issue of underemployment looms larger than outright unemployment for many veterans. Mahnken’s research highlights a striking statistic: over two-thirds of veteran employees feel that their current roles do not align with their skills and qualifications acquired through military service. Consequently, a disappointing trend emerges where many veterans leave their first positions shortly after starting, compounding the challenges associated with their transition.

Through the lens of the SAIS case study, three primary obstacles faced by veterans entering the workforce become evident: the competition with candidates who possess more prolonged work experience, the difficulty in communicating how military experience translates to civilian job roles, and the lack of required education or certifications for many positions.

Goodfriend points out, “Nearly half of the veterans applying for jobs don’t have a four-year college degree, which many job descriptions require. They can’t get an interview.” This exclusion extends to nearly half of the veteran applicant pool, leaving them sidelined in a competitive job market.

At ACP, mentors play a pivotal role in highlighting the intrinsic value that veterans offer to potential employers. Drawing from their military backgrounds, veterans often come equipped with remarkable skills, such as problem-solving under pressure, navigating stress, exceptional teamwork capabilities, and a deep commitment to a greater purpose. Goodfriend emphasizes, “I’d like to think that the skills and values gained from a career in the military equal four years of studies.” He recognizes that not every veteran has the means to attend college or secure scholarships, leading to barriers in their professional journeys.

Goodfriend believes that acknowledging these issues publicly is crucial, ensuring that managers and recruiters remain conscious of the challenges faced by veterans in hiring scenarios. “We may not always be able to hire them,” he asserts, “but we can’t exclude them.”

One-on-one mentorship

Each veteran or military spouse that joins the ACP program is assigned to a mentor for a year, during which they engage in monthly meetings. These mentors provide essential guidance on articulating how military experiences can benefit prospective employers, thus enhancing the veteran’s employability.

Mentors also address the intricacies of corporate culture, offering valuable insights to veterans entering the private sector for the first time. They assist with critical hard skills like resume crafting and interviewing techniques, while also helping to develop soft skills, such as navigating workplace relationships and self-advocacy—a notably challenging concept for individuals ingrained in selflessness through military service.

The mentorship program extends additional avenues of networking to veterans. A significant gap in awareness surrounding veterans in the private sector has become apparent, as younger Americans increasingly lack direct connections to military personnel. A troubling decline is seen in veteran representation within Congress, while the proportion of veterans among high-level executives in the corporate landscape shrank dramatically from 60% in 1984 to a mere 6.2% as of 2014. Despite positive perceptions of veterans from human resources and hiring professionals, more than half admitted to having limited familiarity with military service.

Mentors affiliated with prominent corporations serve as valuable liaisons to bridge this familiarity gap. Personal introductions from mentors can help candidates surpass educational barriers, as demonstrated by the experience of First Sergeant Manny Morejonreyes, who, after completing the ACP program, landed a job as a human resources manager with T-Mobile despite initially struggling due to his lack of a four-year degree.

Goodfriend recounts numerous uplifting stories of protégés who thrived after completing the program. For instance, John, who returned home post-injury from Baghdad, was introduced to a CEO by his mentor, leading to a role where he became one of the company’s top sales performers. Similarly, another veteran who faced homelessness eventually secured a position in cybersecurity with his mentor’s assistance and has now moved into his first permanent residence. Success stories like these are regularly highlighted on ACP’s website, providing inspiration to many.

For Goodfriend, ACP signifies a personal commitment to giving back to the nation that has been so generous to him. Over the years, he has passionately persuaded corporate leaders to embrace their moral obligation to support veterans. “It’s our duty to help,” he firmly states.

Professionals often have‍ limited knowledge‍ of the ‍unique contributions ⁤veterans bring to the workforce. By connecting with seasoned professionals, veterans can cultivate stronger networks and gain ‍exposure to various career paths.

**Interviewer:** Thank you for‍ joining us today, ⁤Sid. Your journey ⁢from Wall‍ Street to ⁣founding American Corporate Partners is ‍truly inspiring. Can you⁢ share​ what motivated⁤ you⁢ to ⁤make‍ such a significant⁢ career change?

**Sid Goodfriend:** Thanks for having me! The motivation came from a​ mix​ of personal experiences ⁣and a⁣ deep sense of obligation to give back.‌ My ‌memories of 9/11 ⁤were a ⁤turning​ point for me. I realized that while so much focus was on what was ⁤happening overseas, there wasn’t⁣ enough attention on the‌ veterans returning ⁢home. I wanted to use my background and‍ connections to help them ‌find fulfilling ⁣careers.

**Interviewer:** That’s ‌a‌ powerful catalyst. You ‍established ACP in 2008, and since then, it has facilitated mentorships for over‍ 35,000 veterans. What do you think is the key to making this program so successful?

**Sid Goodfriend:**‍ The heart of ACP is ​the one-on-one mentorship. Each veteran is paired with someone‌ who can guide them through their transition ‍into⁤ civilian life. Our‍ mentors‌ not ​only help with resumes and interviews, but they​ also ​share⁣ insights about corporate culture—a vital aspect that many veterans are unfamiliar​ with. We’ve created an environment where ⁣the intrinsic value⁢ of ⁤military experience is recognized and ⁢appreciated.

**Interviewer:** You mentioned in your discussions that underemployment is a significant issue for veterans. Can you ⁣elaborate on that?

**Sid Goodfriend:** Certainly. Many‍ veterans are overqualified‍ for the jobs⁢ they are taking. A​ study shows that over two-thirds feel their current roles don’t​ match their military⁤ skills and qualifications.‌ This ⁢disconnect⁢ often⁤ leads to early exits from their first jobs, ⁢which can be disheartening. It’s‍ crucial for employers to ⁤understand that veterans bring unique skills to the⁤ table—skills that may ⁣not always be recognized ⁣through traditional hiring ‌filters.

**Interviewer:** It sounds like you believe in ⁣the potential⁢ of veterans to⁢ contribute significantly to‌ the workforce. What‌ message do you want to communicate to corporate America​ regarding veteran employment?

**Sid Goodfriend:** My message is clear: don’t exclude veterans simply ‍because they might not fit the conventional mold‍ for⁢ employment. While they may lack ⁣certain​ degrees, their military training equips them⁢ with⁤ exceptional skills that can​ greatly benefit organizations. It’s​ important to be open-minded and recognize that the values and experiences they bring can be as valuable as formal education.

**Interviewer:** ⁣That’s⁢ a vital perspective. Lastly, what⁢ do you envision for the‌ next phase of ACP’s ⁣impact in ⁣the coming‌ years?

**Sid Goodfriend:**‍ Our‍ aim is to continuously expand our network and ‍the range of industries we work with. We want to ⁣reach more ‍veterans and military spouses, and help​ them connect with mentors that ⁤can guide them into successful careers. It’s about‍ creating long-term change and seeing⁤ veterans thrive in the workforce, feeling valued and fulfilled in their roles.

**Interviewer:** Thank you, Sid, for ​sharing your insights and highlighting the‌ importance of⁤ supporting our ⁤veterans. Your work is making a significant difference.

**Sid Goodfriend:** Thank you for having ​me. It’s a⁣ pleasure to discuss such ⁣an important cause.