Create high-quality internship experiences that work to create tangible business value.
Internships are on the rise. Companies that face a shortage of skilled labor with key competencies use internships to build their employer brand and strengthen talent pipelines to high-value candidates. Meanwhile, prospective employees facing a difficult labor market covet internships as the means to gain work experience in a new field or industry.
A high-quality internship experience is one that maximizes shared value. Firms maximize shared value when they create economic value for themselves in a way that creates social value.
The tangible business value of internship programs all hinges on ensuring that the intern has a positive experience. Design the program carefully, align organizational goals and learning objectives, and supervise the intern effectively to ensure a positive outcome.
Impact and Result
Get the project done quickly and carefully by focusing on goals and outcomes. Internship programs fail when organizations are not clear about the goals of the program or its learning outcomes, and when they fail to mentor and supervise interns effectively.
A successful program does not need to be time-consuming so long as key elements are in place. Internships that work have a clearly defined work-plan, a diligent recruiting process, and an effective framework for intern supervision and mentoring.