Developing an internship program for your business is an excellent way not only to identify new talent but also to mentor and grow the next era of employees in your industry. It is rewarding on both a company and individual level, especially when you launch and manage the program successfully.
Over the last decade, companies across a variety of industries have welcomed internship programs with open arms. A successful internship not only requires executive buy-in but also requires significant effort from day-to-day supervisors. Welcoming an internship program takes time but can be very valuable in identifying future talent for your business.
For a student, the benefits of an internship are undeniable. According to a study completed at the Southwestern University in Texas, those who completed one internship during their time at the university were 13 percent more likely to find full-time employment than those who did not. Similarly, those who completed an internship reported higher levels of being very happy with their employment outcome.
Creating an employable and happier workforce is certainly a benefit for businesses. If you are looking to develop a successful internship program for your business, U.S. Money Reserve has tips that can help get you started.
How U.S. Money Reserve Created an Innovative Internship Program
U.S. Money Reserve is celebrating two years of running a very successful internship program, one that has been innovative and focused on strategic growth.
This internship program was developed by Jim Warren, the vice president of marketing & communication, and Mallory Burgess, the company’s media buyer. Working together at a previous company and then taking their learnings to U.S. Money Reserve, Warren and Burgess had a vision for significant growth with internships leading to new employees within the business.
The pair have created significant growth within the program and have recently posted positions in RTF (radio/television/film), social media, and design for this upcoming semester.
The program has seen such growth that Warren and Burgess have employed an intern supervisor, Sierra Taylor, to assist in running the program. Taylor oversees the intern team, providing support with project management, training, and overall success. The person in this position must be innovative and forward-thinking, as they work to ensure support of selected interns along every step of their journey at U.S. Money Reserve.
3 Tips to Develop a Successful Internship Program
Learning from the success that U.S. Money Reserve has had over the last two years, there are three focused tips to develop a successful internship program for your business.
1. Identify a leader to supervise and manage selected interns.
While you might identify excellent talent for a vacant internship position, the growth of such an individual will be unsuccessful if there is not an identified leader to manage and grow the team. It can take interns and new employees time to learn the corporate culture and the intricacies of the business. Identifying a leader will help make the transition easier.
2. Clearly define the job description.
No one works well without direction, regardless of the position. This is particularly true for college students. If a company provides little in the way of understanding and expectations, including clearly defined work assignments, students will not be set up for success. To view clearly outlined job descriptions, visit the U.S. Money Reserve careers page.
3. Make selected students feel like part of the team.
Offering opportunities for students to participate as part of a team, including social gatherings and off-site events, is important to make your selected interns feel like they are an important part of the company. You might also consider scheduling team activities exclusively for interns.
Of course, internship programs are variable depending on the industry and unique business needs. Using these tips can help you develop a successful program for your company that will support your selected students along the way.
About U.S. Money Reserve
U.S. Money Reserve, based in Austin, Texas, is one of the largest private distributors of government-issued gold, silver, and platinum products within the United States. The business was founded in 2001 and has since grown to service hundreds of thousands of clients across the United States. With a commitment to be the most trusted professionals in the business, U.S. Money Reserve has helped people become more informed about their decisions around gold, silver, and platinum. To learn more, call 1-866-MINT-GOLD and ask to speak to an account representative.