Will an internship program benefit your company? The short answer is yes. The longer answer is, yes, AND you should craft your internship program with the future in mind. When thoughtfully crafted, an internship program offers benefits to your company, the interns, and the local economy. 

Internship benefits hinge on intern retention. Otherwise, your internship could simply be training talent for someone else. Luckily, RBTC is your resource for local STEM talent. 

Benefits of an Internship Program

An internship is “a form of experiential learning that integrates knowledge and theory learned in the classroom with practical application and skills development in a professional setting,” according to the National Association of Colleges and Employers. Internships give students a valuable opportunity to gain professional experience and give employers a chance to train a potential new team member. 

One of the wonderful aspects of an internship is how positive they are for everyone (and every place!) involved. A well-designed internship can make an impact for years to come. 

• Benefits for companies: Because internships are typically intended to be for a specific period, they make the perfect testing ground to evaluate a promising hire without much past experience. They expand your candidate pool and make hiring a much less risky process. Your interns spend time training in your company culture, making the onboarding process quicker and smoother should you decide to hire. Interns can also offer a fresh perspective on your business and, of course, provide valuable work to help your business run efficiently. 
• Benefits for interns: Internships are designed with the intern in mind and should provide valuable work experience, allow opportunities to explore a career path, and the chance to develop and refine skills. Internships can be a great way for young professionals to gain confidence and begin building their professional network. 

Because internships are such a great way to develop a talent pool, they can also lead to talent retention for the locality. This only makes your industry and region stronger—a big bonus!

Common Pitfalls of Internship Programs

Building an internship program while simultaneously building your business can feel daunting. You may see the need for an intern in your company, but it can be hard to find the time to design an experience that benefits all. Here are some common pitfalls to avoid.

• Not providing valuable learning experiences: Relying on your intern to do filling or make coffee may be helpful in the short term, but your intern is unlikely to stay with your company because they didn’t feel like a meaningful part of the team.
• Isolating your intern: Your intern may be young, but they likely have a lot to contribute to the team. Avoid isolating your intern in their role. Look for opportunities to include them in your company culture and encourage them to share their ideas.
• Not training your intern for long-term roles: Taking a short-term view of your internship program may give you short-term rewards, but investing in your intern not only helps you retain stellar talent but helps grow your program’s reputation for other promising interns in the future.

How to Build an Internship Program that Pays Dividends

An internship program should function like an investment account. When you invest in your intern, the potential return to your company is huge. Taking a short-term approach to your intern relationships means you could give that investment to other companies when they take their experience elsewhere.

• Clear goals: You should provide your intern with clear benchmarks and goals so they can clearly measure their growth and work.
• Strategic Timing: Summer internships for rising college seniors are one of the optimal times to run an internship. Students have time to devote to your company and, if you find your intern is a good fit, you can offer them a full-time job (and signing bonus if you’re able) with a start date following graduation. Alternatively, your intern could come on board part time while they finish their degree and expedite your onboarding process. 
• Good management: Your intern needs regular check-ins from an encouraging supervisor who can coach them on soft skills and help them integrate into the larger team.
• Educationally valuable experience: An internship experience should be educationally valuable and align with any academic requirements they may need to fulfill.
• Financial support: It’s crucial to ensure you have the financial resources available to compensate your intern fairly and attract highly qualified candidates.
• Good talent pipeline: Develop strong relationships with higher education institutions or regional industry hubs (like us!) to source candidates for your program. You can also utilize your intern’s network of peers by offering your intern the opportunity to serve as a compensated marketing and recruiting rep for you during the school year. Your intern can speak on your behalf at student unions, job fairs, and in student groups and classes to expand interest in your company.

RBTC Is Your Resource for Developing Tech Talent

The Roanoke-Blacksburg region is gaining a reputation as a hub for tech talent. We work with regional partners, higher education institutions, and employers to facilitate meaningful connections between the brightest minds and local tech companies. If you want to build an internship program that helps elevate your company and the region, download our guide and get started!