How to Create an Internship Program at Your Small Business
There are many reasons why small businesses create internship programs. Internship programs can attract qualified entry-level candidates, save a company money, and make a difference in the lives of young graduates. According to one study, 40% of employers feel that new college graduates are unprepared for the workforce. The skills training provided during an internship can help with this.
But not all internship programs are effective. Some become a waste of time for the intern and the business, rather than providing a valuable resource and productive experience for both. To create a program that is solid and successful–a win-win situation for all parties involved–the key is to be strategic.
If hiring and managing interns is new to you, there are several lessons you can learn from the experiences of others. As you consider starting an internship program for your small business, keep these tips in mind.
Considerations for an Internship Program
Compensation
Should you pay your interns? This is an important question, possibly affecting the direction of your whole program.
Many experts urge small businesses to pay their interns. Doing so will bring in more qualified and diverse candidates who become happy, engaged interns–all of which leads to better overall results. Your company may not be big enough yet to attract college students and young professionals who are willing to work for free in order to have a well-known name on their resume.
Deciding to hire unpaid interns is a more difficult process, requiring you to follow strict legal criteria from the U.S. Department of Labor, and potentially leading to costly lawsuits and other financial consequences. If the internship doesn’t follow the criteria, it’s illegal–even if the student gets college credit.
In short, paying your interns a wage is simply the right thing to do. If you have questions about how much to pay your interns or the benefits of doing so, see this FAQ.
Recruitment
Where do you find the best internship candidates? You should be looking for ambitious and driven college students and new graduates. Often the best way to do this is to attend a related college class as a guest speaker. This gives you face time with the students as well as academic advisors and professors who can share internship information with other students.
List your program on appropriate websites, post on job boards, participate in career fairs, and spread the word through your professional network. Timing can play an important role in the recruiting process, so be sure to find out when semesters/quarters begin and end for local schools.
Be thoughtful about your internship job description, explaining the skills you’re looking for and the benefits the interns will experience while working for your company. As you accurately and positively share these details, you’ll hopefully attract a large pool of applicants and consistent pipeline of potential hires.
Program Design
Determine exactly what you want to accomplish and provide to interns through your program. Make sure it’s well-rounded and mutually beneficial to both your small business and the interns you hire. Invest in them and help them to develop skills through real work assignments. As stated by one founder/CEO, “The better the experience you provide to your interns, the more value you will obtain from them in return.”
Create a list of tasks and responsibilities for your interns, as well as a structured training program, orientation, and materials explaining what’s expected of them and where to find supplies they’ll need to complete the job. Consider the value of mentorship–becoming a listening ear and trusted source of guidance for your interns. The good news is all this work you’re doing to effectively onboard interns can also be used when hiring full-time employees.
Your efforts to be organized and professional will pay off as you'll be able to set high expectations for results.
A Strong Internship Program Will Pay Off
One executive of an intern marketplace shared that many small businesses and startups have found significant success through internship programs. Look beyond the initial investment of time and resources and consider the program from start to finish. You will see the long-term benefits of improved productivity and the potential of recruiting your best interns to become full-time employees.
