Hiring interns is an essential part of building a diverse and talented work force. By allowing you to try young talent before you buy, internships are a uniquely powerful tool for companies to discover new grad hires who fit their unique office culture and skill needs. Currently, converting interns into full-time hires has become the number one way in which new grads are hired, with close to 70 percent of interns being offered full-time roles!
However, the world of attracting and hiring the right interns is changing rapidly and becoming far more competitive. Students are starting to intern younger, with over 50 percent of students doing multiple internships before they graduate and InternMatch reporting that over 35 percent of their 3 million plus users are first and second year students. Meanwhile, a recent trend shows students increasingly looking beyond big brands and for work experience that offers a mission and professional growth that is as rewarding as it is prestigious.
Importantly, the way interns are being hired is also changing dramatically. Top companies gave up the hire-your-business-partner’s-nephew model a long time ago and have developed sophisticated strategies to compete for top student talent. Companies like Nest, a tech firm in San Francisco started by early Apple employees, hired over 20 leading computer science students this past summer, and did so without attending a single career fair. Instead they focused on developing relationships with universities and departments, creating a rich online presence for students to discover their internship program, and building a program full of mentorship, challenging work, and more, that was inherently interesting to students. This was extremely effective as students are spending more time online.
So how does your company compete?
Please join @weknownext at 3 p.m. ET on October 10 for #NextChat with special guest Nathan Parcells (@nathanparcells), co-founder of Internmatch. We’ll chat about how to turn up the volume on your internship program and make the best possible student hires, and look for your answers to the following questions:
Q1. In what ways is social media changing the college recruiting landscape? Does it still make sense to go on campus?
Q2. What advice can you give to college students looking for internships? What can they do to stand out?
Q3. What are the biggest mistakes managers make when managing interns?
Q4. Does it make sense to pay interns? What are some unique ways interns are being compensated, other than an hourly salary?
Q5. As an employer, what are the qualities you seek in an intern when looking to hire for a permanent position?
Q6. What are the best ways to create an exciting employment brand for the new generation of workers?