Many companies in nearly every industry offer internship programs. They can vary in length, pay, and level of responsibility. There are benefits for both the employer and the intern.
The career benefits for students are obvious, but what’s in it for the businesses that are investing time and money into those students? In our experience, a lot. Here are 5 reasons to have paid internship opportunities:
Attracts the best candidates
Research shows that almost 40 percent of internships are still unpaid. However, smart interns know they deserve to be paid for their skills and knowledge. Paying for internships gives employers the advantage of being in front of the best interns and makes current interns more likely to recommend the program to their friends and classmates.
Want the role to be taken seriously
Often, interns are full-time college students who have hours of classes, homework, and a minimum wage job. Adding an unpaid internship on top of this is not a sustainable practice and leads to crazy schedules with little sleep. Interns will be more motivated to treat a paid internship opportunity like the real job that it is. They will be more likely to produce quality work, meet deadlines, take ownership of their work, and be motivated to take risks.
Want them to be a part of the team
Unpaid interns often operate on a shoestring budget or a crazy schedule, meaning they miss out on chances to bond with teammates after hours or celebrate the victories they’re helping companies achieve. Interns should be part of the dynamic as well, building relationships, having fun, and engaging with the team because…
They might become full-time hires
Internships are often like a three-month-long job interview. If they can show the employer, that they can be an asset to the team, why not hire them on full-term? Doing this saves time and resources in the hiring process. Interns who become full-time team members are already on board and up to speed with company processes, goals, and missions.
Helps the rest of the community
By providing a diverse internship experience employers will help encourage inexperienced workers, of all ages, to stay productive citizens. This helps contribute to the industry, profession, community, and company. Employers can also help to provide colleges and certification programs, that may be behind, important feedback to better the results of future student interns.
Ultimately, your company will benefit from an internship program if it’s a priority for your business, is structured, and provides students with the supervision they need to be successful. The more resources your company is willing to put toward the internship program, the better it will be. And the more competitive the program, the stronger the applicant pool.