Why Your Company Should Start an Internship Program

An easy way to facilitate success and growth at your company

February 17, 2021

Internship programs offer more than an extra set of hands. They give companies the ability to find their next hire, along with many additional benefits. As of today, about 65 percent of employers offer internships (1) and this number is only growing. Companies big and small are beginning to see the advantages of internships and understand the importance they play in staying competitive and relevant in the corporate world. With 67.1% of interns turning into full-time employees, these kids aren’t just your interns, but your next hires (2).

Access to Future Employees

Though an obvious benefit of implementing an internship program, it's not to be underlooked. Internships are year-round recruiting tools that allow for constant access to the newest talent and an ongoing pipeline of future employees (3). Many Fortune-500 companies retain over 80% of their interns as entry-level hires, creating a seamless transition between the two roles (4). The bottom line: internship programs discover qualified individuals that drive company success and prestige.

Test-drive the Talent

Internships offer you a way to test-drive your future full-time hires through meaningful tasks and integration into the company. Test-driving the talent not only allows companies to hire qualified employees, but also avoid those who are not. Evaluating your interns’ potential minimizes risk that comes with a bad hire. Hiring someone who’s not the right fit can “cost [your company] more than a quarter of a million dollars to find and hire a new employee” (5). Internships also provide the intern with a chance to see if the company is a good fit professionally.

Enhance Perspective

Interns are there for more than just coffee runs and copy making. Though the busy work is inevitable at times, interns offer unique ideas that must be heard. The fresh perspectives your interns share come with specialized strengths and ideas that break up the status quo (3). Specifically, Gen Z is the most racially and ethnically diverse yet, on track to be the most well-educated generation, and mainly supports brands who authentically care (6). This combination is powerful, and one that can make your company more dynamic and progressive. Fresh perspective is crucial to on-going success, and Gen Z interns willingly provide it.

Enhance Your visibility and social media outreach

What defines your current interns is their tech savviness and unique social approaches. Your interns are digital natives, utilizing cutting-edge strategies and technologies daily. With marketing being a key aspect in companies visibility and outreach, your interns offer expertise in the most utilized form of marketing today - social media. As much as your interns are there to learn from you, you can learn from them. Incorporate your interns into your company's social strategy. Encourage constructive criticism. And incorporate their feedback and knowledge on social media into your outreach techniques. Your interns are capable of increasing your company’s visibility and social media presence. Don’t take this skill for granted (4).

Increase productivity at an affordable price

With “92 percent of intern tasks involving higher-level tasks like data analysis, problem-solving, and logistics” (4), internship programs no longer revolve around proofreading emails and sorting files. Interns are priceless resources, there to make real contributions at an affordable price. Internship programs save on the financial costs that come with recruiting and hiring new employees while simultaneously increasing productivity by utilizing their creative and introspective minds. What’s better than success at a reasonable price?

A well organized internship program facilitates success, for both your interns and company. Internship programs save time, money, and effort all while gaining new perspective, skills, and energy. This combination allows for your company to stay pertinent and innovative. The benefits are endless and it’s time you reap them.

For more information on creating successful internship programs, visit Ontern.com

Source:

https://files.eric.ed.gov/fulltext/ED590545.pdf (1)

https://comparecamp.com/internship-statistics/ (2)

https://www.internships.com/employer/resources/setup/benefits (3)

https://www.thebalancecareers.com/why-hire-interns-1986579 (4)

https://www.shrm.org/resourcesandtools/hr-topics/employee-relations/pages/cost-of-bad-hires.aspx (5)

https://www.pewresearch.org/social-trends/2020/05/14/on-the-cusp-of-adulthood-and-facing-an-uncertain-future-what-we-know-about-gen-z-so-far-2/#:~:text=Members%20of%20Gen%20Z%20are,as%20it%20existed%20before%20smartphones. (6)