A recent analysis has shown that internship postings have dropped between 7-14% this year compared to previous years. Furthermore, summer job postings overall have dropped 16.9% since last year, and 28% since two years ago. In May, Tesla rescinded internship offers, likely leaving those college students with no summer internships. While getting rid of summer internships may be an easy way to cut costs, summer internships provide companies numerous benefits which you now can’t enjoy. Let’s explore a few.
- Build future workforce
Internships are a key tool for creating a future workforce. By bringing in talented and motivated college students, companies can identify and nurture potential full-time employees. 57.6% of people find a job at the same company where they interned at. 85% of employers said that internships are the best way to recruit new talent. These hires are already trained and familiar with the company and will easily make a smooth transition from an internship to a full-time job. They can start right where they left off, with little to no additional training required. Company resources don’t need to be used to find and train new hires.
Summer interns are often college or even high school students. They can bring enthusiasm, curiosity, and up-to-date academic knowledge. They can offer new perspectives that more seasoned employees may not be able to. Furthermore, they understand the latest trends and know what the younger generations want. Young summer interns can be especially helpful in the advertising or marketing department, as they are knowledgeable of current trends. Their fresh perspectives can drive innovation, helping your company stay competitive in a rapidly evolving market. Encouraging interns to participate in brainstorming sessions and project teams can create creative solutions that benefit the company as a whole.
An internship program gives existing employees many opportunities to enhance their leadership and mentoring skills. For full-time staff members, taking on the role of mentors or supervisors for interns helps them develop crucial skills such as project management, effective communication, and collaboration. These experiences can be invaluable for career growth, allowing the company to improve as a whole. This mentoring dynamic also creates a more engaged and collaborative work environment, where knowledge transfer and professional development both ways are prioritized. Just as much as the younger interns learn from their older mentors, older employees can learn from the younger interns as well.
A strong and dependable internship program can significantly improve a company’s reputation. Providing meaningful work experiences, comprehensive training, and valuable networking opportunities leave a positive impression on interns. Positive intern experiences are often shared among peers, whether through word-of-mouth or through social media. This creates a ripple effect that attracts more high-quality candidates. Companies that are known for their excellent internship programs are better positioned to compete for top talent, which is essential for long-term success and growth.
Internships are not just a pipeline for future employees; they are a strategic investment in a company’s growth and innovation. By developing a future workforce, bringing new perspectives, improving leadership skills, and enhancing the company brand, internships play a critical role in helping a company stay competitive and foster a dynamic work environment. Summer internships are crucial for a company’s talent pipeline, and companies should consider the broader implications of cutting back on internships. Rescinding an internship offer damages the trust between an employer and future employee. Investing in internships is, ultimately, investing in the future of the company.
Nexxt is a recruitment media company that uses today’s most effective marketing tactics to reach the full spectrum of talent – from active to passive, and everything in between. Learn more about hiring with Nexxt.
This article was written by Hailey Jiang.
Hailey Jiang is a copywriter and poet living in Boston. She enjoys rowing, figure skating, and playing with her cats. You can find her on Instagram at @hailey.photo.writing