Internships are a great way to build your company’s talent pipeline and boost employee engagement.
Company internships range from hosting a few interns to structuring a large-scale program that usually involves partner organizations. Regardless of business size or the industry, developing a great internship model doesn’t cost a lot of money.
Here are 5 key business benefits of internships:
- Cost-effective Talent Development. Internships allow employers to “try before they buy.” Employers can evaluate potential job candidates, both for performance and cultural fit, before making a full-time offer. This also creates a talent pipeline with more qualified and motivated workers.
- Increased Retention. Internships increase retention among newly hired and existing employees by developing more loyal, fulfilled workers.
- Stronger Community Impact. Internships allow you to boost visibility with your community, consumers, future leaders, and potential talent. Interns can be brand advocates that spread the word about your product to other young, in-touch consumers—for free!
- Enhanced Employee Engagement. Offering internships provides management experience for employees who do not have direct reports. This ultimately strengthens employee satisfaction and morale.
- New Perspectives/Diversity of Thought. Interns bring in new perspectives that challenge “the way we have always done it.” Interns aren’t afraid to question processes and are good at providing fresh ideas and solutions.
Internships are also a low-cost way to reap high rewards. Whether you are just getting started or already have an internship program, every internship opportunity that you develop is a win for both your business and the young adults.
“We’ve set it up so they can generate value as quickly as possible for the organization. If it’s strictly a cost center, it’s not going to be something really productive for the company. These young people are very computer-literate and provide value in ways you would not expect.”
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