Have you thought of increasing company retention with an internship program? Competitive salaries and benefits packages have long been key in keeping your staff for the long-term. But those strategies aren’t the only ways your business can increase employee retention. More and more companies are decreasing staff turnover rates by hiring top talent from staff internship programs.
It’s no secret that internships have long been a strategic avenue in recruiting and hiring top talent. And now trends are revealing that interns who’ve converted to full-time employees are sticking around longer. Here’s how funneling talent through an internship program can benefit your business.
Why An Internship Works – The Culture
When employees know the culture, they tend to make quicker and smoother transitions than cold hires. Interns have learned your team and your processes and have relevant work experience in the job position. And on the flip side, while interns are getting to know you, you’re also getting to know them. Internships give you the opportunity to see if the intern’s personality and skills are the right matches for the position even before they’re officially a job candidate.
Interns Want to Work
Interns want to work––not only are they enthusiastic about building and increasing their professional work experience, but also just as eager to earn that full-time salary. According to a recent study, former interns are 52 percent more likely to stay with a job longer than five years, compared to non-interns (36 percent). Not only can converted interns decrease personnel turnover, but they also make great ambassadors for your company’s brand, which could lead to more job candidates seeking out employment with your company.
Interns Have Lower Recruitment and Onboarding Costs
Internships are downright practical when it comes to increasing your business’s bottom line. Having an intern-to-hire funnel to fill positions reduces expenses associated with job recruitment. As well, you’ll spend less time reviewing resumes and conducting interviews. You may also reduce the marketing expenses associated with your company’s open positions. And when you hire an intern, you’ve already completed their background checks, so onboarding becomes more efficient.
Hiring interns as full-time employees is a sure bet when recruiting and retaining top talent.
Ready to showcase your company’s incentives and commitment to long-term employee retention when recruiting future talent? Let ICR make sure your company stands out among the competition! Contact us today to find your next employee!
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