Internships

How do businesses benefit from internships?

> Achieve low recruiting costs

> Attain fresh or new perspectives

> Evaluate perspective future employees

> Grow your own talent

> Identify future leaders

> Stay connected to universities, colleges and school systems

> Retain the talent supply in Southwest Florida

Highlights of the Survey Report include:

For interns, the offer rate is 70.4 percent, the acceptance rate is 79.6 percent, and the conversion rate is 56.1 percent.
For co-ops, the offer rate is 50.2 percent, the acceptance rate is 79.3 percent, and the conversion rate is 39.9 percent.
The one-year retention rate for intern hires with internal experience is 71.4 percent, while it is 59.0 percent for those with external internship experience.
The average hourly wage for interns is up $0.32 to $19.05; this is the highest hourly wage thus far for interns.
Planned social activities and paid holidays are the most offered benefits, as they are among the least expensive.
Among employers that offer relocation assistance, 59.4 percent offer it to interns, while 28.7 percent offer it to co-ops.
The average signing bonus offered to interns this year ($2,580) is less than the average offered to co-ops ($3,546).

A valid internship is not a source of free labor to catch up on tedious tasks or supplement a business’ existing workforce during peak periods.

Here is a link to the Fact Sheet #71: Internship Programs Under The Fair Labor Standards Act

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