Military veterans often possess skills that can fortify a financial technology company’s workforce, which is why PayPal has committed to hiring former service members, Chief Financial Officer John Rainey told CNBC Tuesday.
Since 2017, PayPal has added more than 180 veterans to its payroll in large part from the help of partnerships with organizations, such as Breakline Education and Vets-in-Tech, that help them transition from military careers to ones in finance and technology.
“When employers look at the qualities that they want in candidates, military veterans have honed some of those skills in their career,” Rainey said in a one-on-one with “Mad Money’s” Jim Cramer. “Things like teamwork and discipline [and] leadership, and these are things that they can bring to the workforce and make us a much better company.”
PayPal, a parent of online money transfer platforms, has filled operations, cybersecurity and project management roles, among others, with veterans. The company says these positions have a lot in common with military specialties.
On Monday, American honored persons who have served in the U.S. Armed Forces for Veterans Day. PayPal, however, marks the entire month of November as Veterans Recognition month.
During that period the company sells poppy, the red flower that is recognized as a symbol of sacrifice of service members who have served and died in war.
The initiative is carried out through PayPal’s employee resource group for veterans.
“The proceeds from those sales this month will go to support our veterans and their families in need,” Rainey said, though he did not say how much money the company expects to raise during the month.