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