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Hire a Graduate Part III: The Power of the Internship

As the economy improves, more organizations are looking to hire fresh talent: hiring of recent graduates is projected to increase by 9.6% this year, and competition for the best talent is increasing. Companies are beginning their recruiting efforts earlier to find the talent they want: according to a recent survey from the Society for Human Resources Management, 20% of companies have hired graduates to start working after they walk across the stage, and 15% already have students working before they even graduate. Many companies begin this aggressive recruitment process by hiring interns.

The Rise of the Internship


The internship has grown over the past two decades into a win-win strategy for students and companies: students get the chance to add work experience to their resumes, and companies get relatively inexpensive labor.

Today, 92% of companies offer formal internship programs, and most companies are planning to expand these programs in 2015. Internships are still great ways for students to hone their professional skills, but they’ve also become a great recruiting tactic for companies. By bringing students in as interns first, companies have the chance to dry run potential candidates and only hire the best.

Paid or Unpaid?


Research from the Collegiate Employment Research Institute finds 71% of employers plan to pay their interns this year (a 4% increase from last year), while 15% of companies will only offer unpaid internships.

Whether an internship is paid or unpaid depends on many factors, including industry, job responsibilities, and the size of the company. Nearly 90% of large organizations will pay their interns while 57% of smaller organizations will do the same.

 

Want to learn more?


To find out how to hire and utilize students and graduates as interns, read LaSalle Network’s latest white paper, “How to Find and Hire the Right Graduate.”

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