INTERNSHIP FRAMEWORK

Internship Framework

Hands-On Experience, Real-World Impact

Index

Objectives

Situation

Turnover

Benefits

Goals

Strategic Plan

Next Steps

Quote

The expert at anything was once a beginner.

Helen Hayes

Objectives

To discuss the need for a structured internship program.

STRATEGIC PLAN

TURNOVER

GOALS

SITUATION

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

Building a pipeline to attract and retain top talent.

Present ideas that align with our overall strategy and need.

See how turnover affects costs

SITUATION

Acquiring and Retaining Top Talent

70%

of US employers are finding it difficult to acquire talent.

Manpower Group Survey

+ Info

Turnover

Average turnover in Banking and Finance Industry is 18.6%

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

+ Info

+ Info

According to a Comp data survey posted by Happy.com

Turnover Cost

Number of Terminated EE's(last 12 months)

1M

Total Turnover Spend (last 12 months)

12K

Average Cost per Terminated EE (last 12 months)

6.7K

Approx. Work Days Lost (last 12 months)

87

Why/Benefits

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.

Info

Goals

Ensure the goals align with overall strategy and needs

Talent Pipeline

Fresh Perspectives

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.

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

Competitive Advantage

Skill Development

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

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

Diversity and Inclusion

Productivity Boost

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

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

Goals

Network Opportunities

Help interns build professional relationships and connections within the industry.

Career Exploration

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

Brand Advocacy

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.

Strategic Plan

Determine compensation

Designate intern representative

Define recruitment strategy

Define roles and responsibilities

Establish onboarding process

Determine duration and schedule

Strategic Plan

10

Identify mentor and outline how we will provide support

Establish regular check-ins intervals

11

Establish orientation process

Create a plan for development and engagement

12

Create a process to ensure interns are receiving real work experience

Establish training schedule and process

Strategic Plan

13

Create performance evaluation forms

14

Program review and Improvement

15

Post Internship

Next Steps

Interview Questions

OneNet Intern Request Form

Build Job Description

Create an ADP Application

Develop Rules of Engagement

Develop Evaluations

Thank you!

QUESTIONS

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.

• 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.

EMPLOYER

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

INTERN

VS

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

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

11

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

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.

10

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

12

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

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.

14

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

Where, when, and how we will promote

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

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

Causes

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

Impact

13

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

15

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