Internships are an increasingly popular solution employed by businesses of all sizes. Here’s five reasons interns could be a good fit in your business.
Internships can bring a lot of good into businesses that are looking for smart ways to find new team members that will help in their growth and development. Launching an internship program has a lot of benefits – here are five good reasons why you should consider hiring an intern right now.
#1. You'll find future employees
An internship program is basically a recruiting tool. You can organise it by season or by university schedule – either way you'll be building an efficient pipeline for future full-time employees. Once you start hiring, you’ll be able to choose from the best bunch that already interned at your office.
Offering a great internship program, you'll also build your brand as an employer among young professionals. College information passes quickly and if a few interns have a great experience at your company, you can be sure that the word will spread and soon the most talented graduates will be knocking on your door.
#2. Productivity and project completion
Don't hesitate to insert interns into your projects. They're looking for something tangible to put in their resumes, and you're looking for all the help you can get to make sure your operations run smoothly.
The extra pair of hands will even help your employees, on a short-term basis, to be more productive and less overburdened by other tasks and side projects. Benefiting from the help of interns, your employees will actually have time to come up with creative solutions to reach long-term strategic goals of the organisation.
#3. Technological know-how
Even if you're a young entrepreneur, there are lots of things you don't know about current technologies. The interns you bring in hold the potential of revolutionising they ways in which you work with technologies. They have an innate understanding of how things work and are a great source of information about cutting-edge solutions used by their peers.
#4. You test-drive talented candidates
Sometimes you'll find a talent, hire them and later find out that they're not the right fit for your organisation. Hiring a talent as an intern is the best and easiest way to evaluate their potential as a full-time employee and an internship program can serve as a great means for a more accurate assessment of candidates.
#5. Employees hired via internships are loyal
It's no wonder really. You took the time to train them, prepare them for the reality of the industry and equipped them with practical knowledge and skills. Once they get hired as full-time employees, your interns will increase your employee retention rate – NACE's Experiential Education report demonstrated employer data that confirms employees hired via internships to be characterised by a higher five-year retention rate.
When setting up your internship program, think about what the goals of students or graduates are and how they correspond to your aims. Never hire interns just because they provide free labour – as an employer, you need to have the time to properly supervise them and formulate specific goals for your internship program. Otherwise, it simply won't work to your favour.
Amelia Dermottis a business management and administration consultant who is keen on self-improvement, work motivation and entrepreneurship.
Like My Business on Facebook now to get involved in the SME community discussion. Follow @mybusinessau on Twitter for breaking stories throughout the day.
Analysis: The misnomer of bank regulation and loan costs
By Adam Zuchetti
Analysis: Bank ‘misconduct’ a woeful understatement
By Adam Zuchetti
Analysis: Banks wrongly targeted as business custodians
By Adam Zuchetti