Building The Business Case for a Strong Internship Program

Dec 12th, 2024 | Hire Wire

In today’s workforce, having an internship program is more than a mere formality. Not only are candidates becoming hard to find, but the cost of finding them is increasing as well. What better way to identify talent than an A+ internship program?  

That said, building an effective internship program requires a significant investment in both time and money.  Here are five aspects of a strong business case to establish or improve an existing internship program: 

Building Your Talent Pipeline 

Building an effective internship program creates – from the ground up – a consistent and quality talent pipeline for your organization.  Here, an organization can identify “hi-po” or “high potential” candidates quickly and work to secure their commitment to your organization at the start of someone’s career.  Case in point: 90% of PWC's interns end up receiving full-time offers 

Cost-Effective Talent Acquisition  

By “trying before you buy” an organization is able to minimize the risk of making a “bad” hire.  According to NACE – the National Association of Colleges and Employers - nearly 58% of interns become full-time employees.  From a talent acquisition perspective that is a very high conversation rate! 

Crafting Your Employer Brand 

An organization’s employer brand—its overall reputation as an employer in the workforce—is most effective when its employees’ core values mesh with its employer’s core values. By identifying those employees whose values align with your own, you can make the best hiring decisions possible. Additionally, those interns can spread the good word about your organization to their classmates, spreading awareness of your employer brand.    

Developing Future Leaders 

Not only is an organization able to identify interns that show leadership potential but by giving more leadership opportunities for junior-to-mid level staff – who typically are heavily involved in internship programs – you can identify internal leadership potential as well. 

Increased Diversity and Inclusion 

Attracting diverse talent starts early: NACE states that 76.4% of men took part in paid internships, while only 51.5% of women reported receiving paid internships. Additionally, NACE data indicates that Hispanics and Blacks receive paid internships at greatly reduced rates than their White counterparts.   

Running an internship program effectively requires a lot of planning and time! At The O’Connor Group, we have a team of experts who have built and improved internship programs and are ready to help your organization get a leg up on the competition for the best new talent entering the workforce—contact us today!