You probably started off your career as an intern. Maybe you remember the nervous excitement of your first day, the eagerness to learn, and the uncertainty of where your path would lead. Fast forward to today. As a seasoned business owner, you might wonder: why bother with an internship program? After all, you’ve made it this far without one, right?

Well, research shows that a successful internship program not only attracts future employees and enhances positive reviews about your company, but also serves as an operational cost-effective strategy in the long run, compared to the cost of a regular hiring cycle. After reading this article, you’ll have everything you need to decide if hiring an intern is the right step for your business.

Brief History of Internship

Internship programs, as we know, have become a deep part of our modern business workforce with about 70,000 internships offered each year in the UK, according to the Sutton Trust social mobility charity. But what exactly is the history of internships and how has it progressed over the centuries? 

The history of internships can be traced as far back as mediaeval historic times with apprenticeship being the closest equivalent. During this time, craftsmen will take on young apprentices and train them extensively in a trade. However, modern internships as we have come to know didn’t start until the late 19th and early 20th century, primarily in the field of medicine and law. Medical internship for example provided hands-on training for medical students in hospitals under the supervision of experienced practitioners. 

Around the early 20th century, internships grew into several other industries such as engineering and business. They served as a way for students to gain beneficial experience in the early stages of their careers.

In the mid-20th century, internships became more formalised with universities and companies establishing structured internship programs. 

During the late 20th and the early 21st centuries, internships became even more competitive with students viewing them as necessary for getting a leg up in the job market. Employers also began to see internships as a way to recognize, hire, and develop top talent. 

Objectives of an Internship Program

Internships are short-term opportunities for talents to gain entry-level work experience. An intern will typically learn about the day-to-day operations of a department or departments and gain practical work experience which can be added to their resume at the end of the internship period. Internship programs typically range from a few weeks to 1 year under the supervision of an experienced professional.

The objectives of an internship program may vary based on the role assigned, and the type of organisation taking on the internship program. The objectives include but are not limited to:

1. 1. Setting up plans for intentional learning

1. 1. Guided supervision of interns by a qualified individual with relevant industry expertise

1. 1. Observation and assessment for improvement

1. 1. Instilling hard and soft skills for personal growth

Key Benefits Of an Internship Program For Your Business

As much as an internship program has several benefits to interns, it is also beneficial to organisations. Here are some key benefits of hiring interns: 

Shaping an Ideal Workforce: 

One of the key benefits of an internship program in a business is the ability to shape your workforce the way you want it. It’s like a trial run where you can observe an intern’s work ethic, talents, and abilities. By closely monitoring their behaviour and performance, employers can determine if they’re a good match for the company’s growth. Interns also benefit by learning about the business and adapting swiftly to its operations. Since they’re in the early stages of their careers, employers can easily mould their work ethic and leverage it for their growth. 

Interns who perform exceptionally during the internship period can be offered a full-time position at the end of their internship, thus saving the business time and money and creating an opportunity to nurture valuable talent.

Fresh Perspectives And Ideas: 

Hiring a bright-eyed young intern can absolutely transform your business. Young people are constantly exposed to new trends and practices that influence their perspectives and ideologies, and when hired as interns, they tend to convert their learnings into fresh ideas.

An internship program can serve as a tool to bridge between various generations within your customer base. Consider the distinct marketing approaches required for engaging Gen X, Millennials, and Gen Z demographics. A Gen Z intern is likely to possess relevant insights on how to market to Gen Z consumers, compared to a Gen X counterpart. Leveraging this diversity tactic can significantly improve the effectiveness of your organisation, ultimately guaranteeing better results. 

Cost-Efficient Labour: 

Some internships are unpaid, while others offer payment but still, even the paid ones often offer lower compensation compared to most entry-level positions. Although interns do not come with a wealth of knowledge under their belts, they are very energetic, eager to work, and in most cases, they come with good ideas. A smart employer can make the most of that energy by using it to tackle lower-level tasks and projects. It’s a budget-friendly way to boost your organisation’s productivity without needing to hire new grads or experienced professionals. 

Leadership and Social Skills:

When interns are hired, they are typically paired with a mentor who oversees their work and provides on-the-job training. Taking on the role of mentoring an intern on a day-to-day basis is an excellent opportunity for managers or soon-to-be managers to develop their managerial abilities. This added responsibility creates a sense of accountability in the mentor, not only towards the intern but also towards the organisation by ensuring that the business owner sees a worthwhile return on the investment in the internship program.

Employer Brand and Corporate Culture:

Today, building a brand is as important as all other vital business functions. Why? Because your brand serves as the beacon that the public relies on to distinguish you from competitors in a crowded market.

Beyond building a brand for the product or service, there’s another aspect of building an employer brand. Having a strong employer brand makes it easier for an organisation to attract the best talents and build credibility. 

An internship program plays a vital role in enhancing your business’s brand through Employee Advocacy. They have the potential to transition into brand ambassadors, which contributes to shaping the public perception of the organisation. By spreading the word about your business and its endeavours within their school or professional networks, interns can effectively promote your brand at no additional cost. Over time, this demonstration of commitment attracts future employees and positions the organisation as one that values learning and growth.

In 2017, a study was carried out by Way Up where 2,500 interns were asked to nominate internships that offer the best opportunities. 10 companies were singled out as the best:  

1. 1. Under Armour
   2. Enterprise Rent-a-car
   3. CohnReznick
   4. Newell Brands
   5. Google
   6. Facebook
   7. EY
   8. L’Oréal
   9. GE
   10. Dell Technologies

Challenges Of Hiring Interns And How To Overcome Them

Talent acquisition has never been an easy task to accomplish and trying to find the best talent and right fit can be an arduous task. A recent study done by Gradleaders, a career service software company based in Ohio revealed that the major challenge surrounding hiring interns for an organisation or business was finding diverse talents for a role. A creative solution to this challenge is exploring offshore regions and sources for talent acquisition. Embracing the idea of remote hiring for internship roles can significantly alleviate this issue, allowing companies like yours to tap into a broader talent pool.

Another significant hurdle is the logistical challenges associated with relocating, housing, and commuting for interns. This obstacle can also be effectively addressed through remote hiring. Many intern applicants are young adults embarking on their careers and may not have the means to cover relocation or housing expenses. Offering remote internship opportunities not only eliminates these financial burdens for interns but also enables companies to save on overhead costs while still adding valuable members to their teams.

Conclusion

While starting an internship program may not be an immediate necessity, especially for young companies operating on a tight budget, the potential benefits it offers are definitely worth considering. 

At Arwana, we specialise in connecting global employers with top overseas talents in marketing, communications, administration, and design. Our full-time interns typically earn salaries ranging from £7,000 to £9,000 per annum.

If you’re thinking about bringing interns on board, we’re more than happy to assist you. Contact us today at hello@arwana.co.uk, and let us help you recruit exceptional interns!