At times when your business is short on staff, you have two options available – you could incur the costs of advertising and recruiting for employees, or you could team up with a tertiary educational institution and take interns on board. The latter makes sense financially and operationally, and could benefit your business greatly.
You get more for less
An internship holds significant financial benefits.
First is that the set-up costs are nominal. You won’t spend much more than the money it takes to make a few phone calls to set up meetings. After this, there might be some expenditures involved, but it’s also very likely that the college or university will instead be interested in other mutually beneficial arrangements.
Then, second, is the fact that it’s not compulsory to spend money on salaries. It’s understood with students that pay is the exception and not the rule during internships. Do take note that offering remuneration, however small, will mean that your interns will be much happier and thus be more willing to put in extra effort.
Business will run better
Extra hands on deck at a time when you need them most will free up full-time employees, giving them more time to concentrate on important or creative tasks, or to simply take a breather now and again. This will not go unnoticed and you’ll reap the benefits for long after, because your staff will see that you care about them.
Consider as well that interns, fresh out of a business college, come to your business with up-to-date knowledge and skills. They’ll infuse your business with all of their cutting-edge know-how and will most likely have innovative ideas. This will give you a competitive edge in the marketplace.
Pay-offs now and in the future
Taking in interns is a great way of accessing the best talent the industry has to offer. What’s more, you can then shape those individuals and make them perfect fits for your company. Even if you’re not convinced that a candidate is right for your company at that moment in time, you still have a made a connection and you can use that connection in future to network.
Your internship programme will also polish your company’s image in the eyes of the public, because you’ll establish yourself as a business that cares about people and their futures. Even more so if your interns are from the community you operate in.
Keep in mind that your interns also have to benefit from the arrangement, so don’t do them the injustice of only tasking them with menial job functions. They want to learn and they want to make the most of the time they spend with you. So offer them valuable experience and they’re likely to not only return, but to also recommend you to others in the industry.