Conducting internship programs is the best recruitment tool to attract talent at a low cost. Not only for companies, but internships are also a valuable source for candidates to build relationships with potential recruiters.
Internships are the best ways to attract, hire, and retain talent in today’s competitive job market. If you are not leveraging internships as a recruitment tool, you’re losing out on opportunities to hire the top talent in your organization.
According to PNW, more than 40% of interns become full-time employees. Interns are a valuable source for every organization, and they provide an array of prospects and benefits that companies have never realized. Whether your internship program is paid or unpaid, it is a valuable investment for your business in the long run.
For students, an internship program offers a precious opportunity to gain work experience in their respective fields. And if students perform well during their internship days, there is a high possibility that they will get a full-time job offer from their current employer.
For recruiters, internships offer a trustworthy source for training young talent and sourcing future employees. Engaging with interns allows both you and the interns to get a feel for the working relationship. You can assess their values fit, ambition, and potential for future employment with your team.
Internships are a mutually beneficial agreement between the intern and employer. Internships offer candidates the following benefits:
- Real-world experience to apply their knowledge
- Relevant work experience and job willingness
- Develop skills in their respective field
- Access to professional networks
Discover New Talent
Internships are best for young graduates, and they are more eager to gain work experience in their chosen field. As a recruiter, you can boost the business’s overall productivity by hiring interns and assigning them a mentor to guide them through business operations.
According to The Daily Universe, more than 65% of paid internships become full-time employees compared to 39% of unpaid internships. Interns are more likely to accept a job offer because, during their internship days, they learn about the company’s culture, business trends, future goals, and structure of business operations.
Hiring interns is a great way to find and retain new talent in the long run.
Expand Your Brand Reach
Internship programs help businesses expand their brand name amongst the young graduates who will soon get employed.
Hiring interns are your biggest PR asset, especially during campus recruitments. When you offer a great experience to your interns, they will talk about your brand with their friends, relatives, and colleagues and might post a positive review on multiple recruiting sites. As a result, it will help you create a positive employer brand and enhance your brand reputation.
Reduce Overall Employee Workload
Work overload can occur when you have a few people in your team. However, there are some ways to resolve such issues, but that can make the situation worse.
To reduce the workload, you can assign some short tasks to interns eager to understand the business operations and learn new skills. You can also give them the work of employees who are on leave.
By leveraging internships, you can minimize the workflow gap by lessening the workload of your existing employees, reducing conflicts and stress. It doesn’t mean that you put all the workload on your interns – after all, they are at their learning stage.
Enhance Employees Retention Rate
Hiring interns will be the right decision to improve employee retention rates. Candidates who have completed their internships are more likely to stick in your company as compared to non-interns.
The key to improving employee retention rates is to provide an immense candidate experience. Give them no reason to leave your organization. Employees with internship experience have a 40% retention rate, compared to 27% without internship experience.
Hire Employees At Minimal Cost
Conducting internship programs is a cost-effective way to hire top talent in your organization. While some of them are unpaid, giving the employer the benefit of hiring employees for free.
During the internship, you must assign a mentor to the interns to guide them about the work process and other business aspects. You can’t replace employees with unpaid interns. If you are not paying interns, ensure that they get a full educational experience to learn new skills to kick start their career in their chosen field.
As compared to unpaid internships, paid internships are more likely to attract candidates. You are not obligated to hire both paid and unpaid interns at the end of their internship.
Close The Skills Gap
Young candidates have the least or no experience, and they often lack the skills that recruiters are looking for. They lack soft skills such as professionalism, leadership, and communication skills. In your internship program, help a candidate to close the gap with real-world experience, and at the same time make them ready to hit the ground when they start working as a full-time employee.
Give Feedback Frequently
Giving feedback regularly to interns is the key to a successful internship program. Without feedback, your interns won’t be able to deliver the results which you are expecting.
So, every week, ensure that the mentor conducts a meeting with the interns to discuss what can be improved and what is going well. The mentor should also recognize their efforts, offer advice, and address their concerns, if any.
Enhance Your Social Strategy
Young generations are tech-savvy, and they can bring their unique social strategy. Allow your interns to be involved in your social strategy and ask for feedback. This will not only make them feel valued but also increase the chance to stick to your company.
Using internships as a recruitment tool is a great way to facilitate success at your company. In today’s competitive job market, you need to plan and implement proactive recruitment strategies such as conducting internship programs for key and hard-to-fill positions.
To sum it up, get your company ahead of your competitors by starting your internship programs today. It can do wonders for your business in the long run.