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5 Ways an Internship Program Benefits Your Bottom Line
By: Next PR Aug 21, 2018 1:05:15 PM
If you run a business, you’ve probably considered hiring an intern at some point. Maybe someone you know has utilized an internship program and shared with you how amazing it was for the company, or maybe you remember being an intern yourself and want to create a similar opportunity for the next generation.
Young professionals are dying to dive deep into your industry, and their energy and desire to learn can make them your best new employee. Internship programs create value for your company – in ways you may not have even considered. Here are the top five ways internship programs benefit your bottom line:
1. Find Job Candidates Who are a Proven Culture Fit
An internship program is one of the best ways to test the culture fit of a potential employee. If you are seeking to hire entry-level employees, an internship program is a great way to allow a potential future team member to see and adapt to your company culture in real time. Interns can provide feedback on your existing company culture from a fresh perspective, which you can use to benefit your entire workforce.
If they’re a great fit, you have an awesome potential hire on your hands. But if the culture fit just isn’t there, an internship programs allows both parties to part ways once the program has wrapped, saving your organization the hassle of hiring someone who doesn’t fit your organization.
2. Leverage Younger Mindsets to Connect with the Gen Z and Millennial Audiences
Most college freshmen this fall were born in the year 2000 or later. (We’ll give you a moment to let that sink in.) These young minds can help you connect with the fresh, younger audiences your company and clients are trying to reach, whether it’s the 15-year-old who spends all day on YouTube, or the 23-year-old who only wants to buy from brands that are sustainable and socially responsible.
Over the summer, one of our interns, Abigail, had the opportunity to attend a meeting in which she helped explain why Gen Z is paying for YouTube Premium, a monthly subscription service featuring original content from influencers including Joey Graceffa and Liza Koshy. The client was impressed by the detailed insights into the Gen Z demographic, and Abigail then assisted in crafting messaging for that demographic because of her proximity and knowledge of that generation.
3. Increase Your Organization’s Manpower
Having an internship program increases the overall productivity of teams because interns are eager to learn and tackle assignments. Learning by experience is key for interns, so they’re always excited to help in any way they can.
By delegating the more time-consuming, tactical tasks such as scheduling and research to interns, you give your employees more time to focus on advanced strategic work like creative brainstorming. At the same time, this gives interns the opportunity to practice building those vital, foundational skills.
4. Improve Your Recruiting Pipeline
Internship programs allow for increased word-of-mouth about your organization within top colleges and universities – especially those your interns come from. An internship program can help spread word-of-mouth about your organization to these schools, improving your application pool among bright, talented and experienced students who are preparing to graduate. This gives you access to top talent before they’re snatched up in today’s competitive job market!
5. Develop Managerial Skills of Existing Employees
While internship programs create strong learning opportunities for interns, they also provide valuable learning and development skills for existing employees.
Have employees who are working toward managerial roles? Give them the opportunity to test drive and practice their management in real-life situations, strengthening both their communication and delegation skills.
An internship program is a low-risk, high-reward way to boost your organization’s internal and external efforts. When interns are treated like real, full-time employees, they have an even stronger desire to produce results and provide tangible returns on your investment in them. If you’ve been considering hiring interns at your company, try it out! A well-designed internship program could be the next way to enrich your organization.