{"id":4031,"date":"2017-06-06T14:12:27","date_gmt":"2017-06-06T18:12:27","guid":{"rendered":"https:\/\/www.insureyourcompany.com\/?p=4031"},"modified":"2024-05-08T10:26:14","modified_gmt":"2024-05-08T14:26:14","slug":"how-to-build-a-winning-internship-program-for-your-small-business","status":"publish","type":"post","link":"https:\/\/insureyourcompany.com\/blog\/how-to-build-a-winning-internship-program-for-your-small-business\/","title":{"rendered":"How to Build a Winning Internship Program for Your Small Business"},"content":{"rendered":"

An increasing number of small businesses are hiring college students as both paid and unpaid interns according to research from\u00a0National Association of Colleges and Employers (NACE)<\/a>\u2014and with good reason. Internships serve as one of the most effective tools available to companies to get some extra help around the office, vet potential future talent, and provide critical training during the internship period.<\/p>\n

Internships also enhance productivity, improve employee retention rates, and lower recruitment costs. The clear benefits to business of internships are borne out by the fact that on average, 35.3% of new business hires come from internship programs.<\/p>\n

A Win-Win Situation<\/h2>\n

Internships are also highly beneficial to the students who participate in them. It allows them to test drive a position, refine their career choices, and in many cases, obtain their first job.<\/p>\n

Further research from NACE indicates that more than\u00a02 in 3 interns<\/a>\u00a0were offered a full-time position directly related to their internship, and 83.6% of those positions were accepted. Given the mutual benefits of internship programs for both businesses and students, the question is not \u201cShould we initiate an internship program<\/em>?\u201d but rather, \u201cWhat\u2019s the best way to do it?\u201d<\/em><\/p>\n

Internship Best Practices<\/h2>\n

Some internship programs are more successful than others. Those which achieve optimal results follow best practices, some of which are outlined by\u00a0Caron Beesley\u00a0for the U.S. Small Business Administration (SBA). Beesley is a small business owner, writer, and marketing communications consultant who advises SBA on ways to promote essential government resources that help small business owners and entrepreneurs succeed.<\/p>\n

Here are\u00a04 best practices\u00a0she recommends to create a winning internship program for your business:<\/p>\n

1. \u00a0Match Your Needs to Intern Skills<\/h3>\n

Hiring a mechanical engineering student to perform clerical work or a communications major to do bookkeeping doesn\u2019t particularly help either the student or your business. It\u2019s important first to carefully assess your current needs and clearly and precisely communicate those needs to college placement offices.<\/p>\n

According to Beesley, before advertising for an intern, ask yourself these questions:<\/p>\n