INTERNSHIP FRAMEWORK

Hands-On Experience, Real-World Impact

Internship Framework

Next Steps

Strategic Plan

Goals

Benefits

Turnover

Situation

Objectives

Index

Helen Hayes

The expert at anything was once a beginner.

Quote

To discuss the need for a structured internship program.

See how turnover affects costs

TURNOVER

Look at action items and other elements needed to achieve the goal.

STRATEGIC PLAN

Present ideas that align with our overall strategy and need.

GOALS

Building a pipeline to attract and retain top talent.

SITUATION

Objectives

70%

of US employers are finding it difficult to acquire talent.

Manpower Group Survey

+ Info

Acquiring and Retaining Top Talent

SITUATION

2024 is currently trending at 13.7% but it is projected to reach 16.3%

According to a Comp data survey posted by Happy.com

Average turnover in Banking and Finance Industry is 18.6%

Turnover

+ Info

+ Info

87

Approx. Work Days Lost (last 12 months)

6.7K

Average Cost per Terminated EE (last 12 months)

12K

Total Turnover Spend (last 12 months)

1M

Number of Terminated EE's(last 12 months)

Turnover Cost

Info

Internships offer students and new graduates a chance to gain practical experience in a professional environment. While they require a significant commitment, internships provide employers with an opportunity to discover untapped talent and engage with individuals eager to learn and develop their skills.

Why/Benefits

Ensure the goals align with overall strategy and needs

Use interns to support or complete projects that may have been put on hold or require additional help.

Productivity Boost

Provide interns with hands-on experience to develop practical skills relevant to their field.

Skill Development

Gain new insights and ideas from interns who bring different viewpoints and approaches.

Fresh Perspectives

Promote a diverse, inclusive, and a belonging workplace by actively recruiting interns from various backgrounds and fostering an inclusive environment.

Diversity and Inclusion

Gain a competitive edge by developing and integrating new talent early on, ensuring that we are agile and adaptive to industry changes.

Competitive Advantage

Cultivate a pool of skilled potential employees that align with our long-term hiring needs, and fit well with the company’s culture and needs.

Talent Pipeline

Goals

Strengthen the company’s reputation and visibility among future talent by creating and impactful internship experience that leads to strong word-of-mouth and positive reviews.

Brand Advocacy

Assist interns in exploring their career interests and understanding their professional goals.

Career Exploration

Help interns build professional relationships and connections within the industry.

Network Opportunities

Goals

Establish onboarding process

Define recruitment strategy

Determine compensation

Determine duration and schedule

Define roles and responsibilities

Designate intern representative

Strategic Plan

Create a process to ensure interns are receiving real work experience

Create a plan for development and engagement

Establish regular check-ins intervals

Establish training schedule and process

Establish orientation process

Identify mentor and outline how we will provide support

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10

Strategic Plan

Post Internship

Program review and Improvement

Create performance evaluation forms

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Strategic Plan

Develop Evaluations

Develop Rules of Engagement

Create an ADP Application

Build Job Description

OneNet Intern Request Form

Interview Questions

Next Steps

QUESTIONS

Thank you!

Pair intern with experienced mentors who can provide guidance, feedback and support.

Select a contact person for the program

Offer training on processes, specific tools, and systems they will use.

It's crucial for both employers and interns to understand the MUTUAL benefits and goals of an internship program.

VS

INTERN

• The experience helps gain industry knowledge, develop relevant skills, build a professional network, and identify their career interest.

EMPLOYER

• Interns enhance productivity by working on projects that may have been put sidelined due to time constraints.
• Fresh perspectives can bring valuable new insights that contribute meaningfully to your business.

Identify programs, workspace, and tools needed prior to first day.

Include opportunities to attend workshops, networking events, attend team meetings, and increase responsibilities.

11

Set clear roles and responsibilities for interns, managers, and mentors.

Got an idea?

Let the communication flow!

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• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Establish a regular cadence for meetings to discuss challenges and provide guidance.

10

Make sure they are working on meaningful projects that contribute to professional growth and organization's goals.

12

What's the Impact?

• Employee turnover can be expensive because organizations pay direct costs when an employee leaves and incur additional costs to recruit and train new hires.
• It can impact your organization in others ways like decreased productivity, knowledge loss and lower morale.

Gather feedback, analyze the results, and adjust program for future

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Where, when, and how we will promote

Provide an orientation session to introduce interns to company culture, team, and resources.

Impact

A talent shortage can pose a significant challenge for a business, impacting the ability to fill critical positions and drive growth.

Causes

• Tight job market
• Lack of competitive pay
• Lack of clear career progression
• Not effectively reaching the right talent pool

Set milestones to establish KPI's, provide constructive feedback throughout, maintain records and reports.

13

Offer recommendations, Consider for future employment, also we want to maintain connections for future collaborations.

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