6 Unexpected Benefits of Internships and Returnships

It used to be that every company had internships. Some still do. But many got rid of them or reduced the scope because leaders didn’t value paying people to train. Instead, they wanted to hire employees who were ready to do the work.

Now, what’s old is new again. Low unemployment rates, a talent shortage, and the great resignation/great migration phenomenon are prompting business and HR leaders to rethink internships as a way to tap talent and grow the skills of their workforce. They’re also exploring returnships – internships to support adults who are re-entering the workforce following time away from their careers.

What’s in it for the businesses? More than you might expect. Here are six unexpected employer benefits of having internship and returnship programs.

1.      A sneak peek at future workers. Internships and returnships give employers extended visibility into potential candidates for employment. In a traditional recruitment process, candidates submit resumes, pass the recruiter phone screen, complete skills tests, and interview with hiring managers. All told, the potential employer may spend 2-4 hours with a job candidate before making a hiring decision. With internships and returnships, potential employees spend weeks learning about the company, exploring the job, and building skills. The typical company sees the intern in action for 150 hours or more before making a hiring decision – giving managers and peers plenty of time to see whether a potential employee has the skills and cultural fit for success.

2.      Well-rounded, well-informed employees. Especially for larger companies, internships can be an opportunity for interns to rotate through numerous divisions or departments. Even in smaller organizations, interns may have the chance to work with more than one team. Either way, anyone hired from a rotation model will have a better understanding of your company, your culture, and the work you do than someone who mostly works with one team or function. And certainly more than someone who has never worked with you at all!

3.      Improved leaders’ skills. The discipline of preparing a good internship program means you have to understand your company, know how to present what it does to individuals, and create a sense of community and mentorship. Those actions often extend beyond the programs. Internships and returnships can spark a coaching spirit across the company.

4.      Influx of experience. There have always been people who left the workforce for military service, retirement, or family obligations before deciding to come back to work. The current pandemic pushed a larger wave of people out of the workforce as companies scaled back and individuals retreated from health risks or dealt with children at home. If you need people quickly, there’s now a whole cadre of experienced, motivated workers who are “almost ready.” All you need is a returnship program focused on upskilling those individuals for your workforce.

5.      Building a bench. Internships and returnships are designed to foster a process of coaching and continual improvement. While neither provides immediate or direct benefit to your workforce, you are building up a “farm team” of potential employees. If you track intern skills and competencies, you can identify the jobs that are the best match for their skills and interests. As their skills progress, they may be ready to step in to fill open positions.

6.      Building a reputation. Employees today have a choice about where to work. Companies with internships and returnships are favorably viewed by potential workers who recognize that you support workforce growth and development. This is one of those intangible benefits that can make a difference when you’re competing for top talent in a tight market.

Hiring the wrong person is expensive. Internships and returnships can help you identify and develop talented individuals who will be a good fit for your company.

Of course, I still hear objections that internships and returnship programs train people for a company’s competitors. Could be. But the hope is that they’re training people for you, too!