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www.InternshipInstitute.org                       The Value of Having Interns


                                     College students are highly capable, highly
                                     motivated and, if well managed, highly
                                     valuable.

                                     Any business that hires college graduates or
                                     simply needs added resources could profit
                                     from utilizing interns.

                                     Though every profession and individual
                                     employer have varying needs, there are a
                                     number of benefits for any organization that
                                     is savvy enough to cultivate a successful
                                     program.

                                      VALUE PROPOSITIONS                                  FOR EMPLOYERS OVERALL
                                                                         A common misconception among employers is that they lack the time to
                                      Gain Time                          manage interns. In truth, they stand to gain substantial time. For example,
                                                                         by applying six hours/week to manage three interns who each work 20
                                                                         hours/week, the ROI of that supervision time is ten-fold.
                                                                         Interns get work off the proverbial backburner. They can do everything
                                      Increase Productivity              from support marketing efforts and operational needs to gather business
                                                                         intelligence and augment work for clients and partners.
                                                                         Interns possess knowledge and skills that employees may not, such as
                                      Broaden Capabilities               with computer programs, research capabilities, writing abilities, and
                                                                         insights about the latest academic methodologies.
                                                                         Recruiting college students allows businesses to pre-draft full-time employ-
                                      Improve Recruitment                ees and reduce the time, costs and mistakes by screening and training
                                                                         graduates in advance.
                                                                         Interns add vibrancy to the fabric of any organization. They provide fresh
                                      Inject Enthusiasm                  ideas and positive energy that can have a contagious effect on employee
                                                                         morale, motivation and creativity.
                                                                         Internship programs can improve an organization’s reputation among the
                                      Give Back                          local business community and area schools, including by having students
                                                                         do philanthropic work on a company’s behalf.
                                      VALUE PROPOSITIONS                                  FOR CURRENT EMPLOYEES
                                                                         The time and work that interns save full-time employees enables them to
                                      Increase Effectiveness             focus their talents on higher level tasks.
                                                                         Interns provide less seasoned managers with the opportunity to gain
                                      Build Leadership Skills            supervision and project management experience and prepare them for the
                                                                         greater leadership challenges ahead.
                                      VALUE PROPOSITIONS                                  FOR POTENTIAL EMPLOYEES
                                                                         Internships enable potential employees to gauge their true abilities,
                                      Build Confidence                   increase their market value, focus their career paths, and explore their
                                                                         compatibility with an organization.
                                      Prepare Tomorrow’s                 Gaining practical experience and career training makes students more
                                                                         capable, more productive and more valuable for when they graduate to
                                      Workforce                          employment.


                                                                                                                           © 2007-2010 The Internship Institute


www.InternToolkit.com                 The Internship Institute • 2865 S. Eagle Road • Newtown, PA 18940 • Tel: 866.60.INTERN (604.6837) • Fax: 215-501-5959
Real Work Interns Can Do
                                                    To Create Real Value
www.InternshipInstitute.org


                              Providing students with a meaningful work
                              experience is a ‘win-win’ for any host organization
                              that values productivity.         The Internship
                              Institute aims to educate employers and
                              managers about the tremendous benefits of
                              trading time to supervise and mentor students.

                              The chart below has a few examples of student
                              work tasks illustrated in the Internship eToolkit
                              Portal and some of the corresponding support
                              tools within it. Z University continues to deepen
                              and expand these ideas and resources in its
                              online Internship Knowledge Center.


                                  STUDENT                                 PROJECT                                  INTERNSHIP eTOOLKIT
                                 WORK TASK                                BENEFIT                                     SUPPORT TOOL
                                                                           Business Intelligence
                                                            Evaluate whether an internship is right
                               Gather Competitive
                                                            for an organization. Make the proper               • Market Research 101
                               Intelligence                 commitment.
                               Identify and Help
                                                            Aim for the bottom line by having interns
                               Pursue Business                                                                 • The PCs of Telephone Skills
                                                            help turn prospects into profit.
                               Leads
                                                                            Business Marketing
                               Write Articles for    Recruit an English or Journalism major
                               Internal and External and let them do what they do best for                     • Sharpening Business
                               Publication                                                                       Writing Skills
                                                     the organization.
                               Research and                 Interns can help identify and manage
                               Arrange Speaking             opportunities as well as save managers             • Researching Industry
                               and Sponsorship              time and effort associated with planning             Opportunities
                               Opportunities                events.

                                                                          Business Management
                               Gather Educational           Improve employee training by tasking
                                                            interns to broaden the library of                  • Putting Resourcefulness
                               Resources for
                                                            educational resources.                               Into Action
                               Employee Training
                                                            Utilize computer-savvy interns by
                               Assist with                                                                     • Developing Presentation Skills
                                                            having them create, format, and polish
                               Presentations                presentations.

                                                                                                                       © 2007-2010 The Internship Institute




                              The Internship Institute • 2865 S. Eagle Road • Newtown, PA 18940 • Tel: 866.60.INTERN (604.6837) • Fax: 215-501-5959
Intern Productivity Study Capsule


                              The Internship Institute completed a 5-year study on “live” internship programs which
www.InternshipInstitute.org



                              demonstrates that a single, qualified manager can gain 225 full 8-hour workdays of
                              productivity in a calendar year by effectively utilizing college interns.

                              The results overwhelmingly refute any misconception that having an internship program
                              involves too much time and work for too little in return. The study involved The Internship
                              Institute’s first-hand experience managing internship programs through 14 full semester
                              cycles. The study validates the value internship programs can yield by shifting the
                              paradigm of time and productivity management.

                              Employers can benefit greatly if they simply reallocate managers’ time to supervise college
                              interns and have students accomplish project work instead of completing those tasks
                              themselves. Converting student talent and skills into productivity not only enables
                              supervisors to achieve more than they could on their own, it also improves the quality of
                              time for managers to focus on higher level tasks.

                              The study also established guidelines for effective internship program management,
                              including qualifying that intern supervisors should possess at least two years of project and
                              personnel management experience. Each supervisor should oversee no more than four
                              student interns and/or manage no more than 60 hours per week of student project work.
                              NOTE: These figures naturally vary according to individual ability among supervisors and
                              student interns as well as the dynamics of specific work projects and the sophistication of
                              the overall program.

                                                                  CONCLUSIVE METRICS
                                              Average Number of Interns                                4 students per semester
                                           Average Number of Hours/week                                        15 hours
                                               Gross Productivity/week                                         60 hours
                                   Average Number of Full Work Weeks/semester                                  12 weeks
                                           Number of Internship Programs                                   3 semesters/year
                                               Gross Productivity/year                                       2,160 hours
                                    Average Number of Supervision Hours/week*                                  10 hours
                                          Number of Supervision Hours/year                                     360 hours
                                           Annual Net Productivity Yield**                                   1,800 hours
                                       Baseline: Full 8-Hour Work Day                        Productivity Gain: 225 Work Days
                                  * Supervision hours per week during each academic term actually ranged from 4 to 7 hours. The
                                    application of 10 hours per week accounts for total program management time, which factors that
                                    for pre-program student recruitment, project planning, and administration.

                                  ** The annual net productivity yield does not factor the additional variable productivity that an intern
                                     project manager will gain as a natural outcome of having more time to achieve higher level tasks
                                     and being more productive themselves.

                                                                                                                   © 2007-2010 The Internship Institute



                               The Internship Institute • 2865 S. Eagle Road • Newtown, PA 18940 • Tel: 866.60.INTERN (604.6837) • Fax: 215-501-5959

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The Value of Having Interns

  • 1.
  • 2. www.InternshipInstitute.org The Value of Having Interns College students are highly capable, highly motivated and, if well managed, highly valuable. Any business that hires college graduates or simply needs added resources could profit from utilizing interns. Though every profession and individual employer have varying needs, there are a number of benefits for any organization that is savvy enough to cultivate a successful program. VALUE PROPOSITIONS FOR EMPLOYERS OVERALL A common misconception among employers is that they lack the time to Gain Time manage interns. In truth, they stand to gain substantial time. For example, by applying six hours/week to manage three interns who each work 20 hours/week, the ROI of that supervision time is ten-fold. Interns get work off the proverbial backburner. They can do everything Increase Productivity from support marketing efforts and operational needs to gather business intelligence and augment work for clients and partners. Interns possess knowledge and skills that employees may not, such as Broaden Capabilities with computer programs, research capabilities, writing abilities, and insights about the latest academic methodologies. Recruiting college students allows businesses to pre-draft full-time employ- Improve Recruitment ees and reduce the time, costs and mistakes by screening and training graduates in advance. Interns add vibrancy to the fabric of any organization. They provide fresh Inject Enthusiasm ideas and positive energy that can have a contagious effect on employee morale, motivation and creativity. Internship programs can improve an organization’s reputation among the Give Back local business community and area schools, including by having students do philanthropic work on a company’s behalf. VALUE PROPOSITIONS FOR CURRENT EMPLOYEES The time and work that interns save full-time employees enables them to Increase Effectiveness focus their talents on higher level tasks. Interns provide less seasoned managers with the opportunity to gain Build Leadership Skills supervision and project management experience and prepare them for the greater leadership challenges ahead. VALUE PROPOSITIONS FOR POTENTIAL EMPLOYEES Internships enable potential employees to gauge their true abilities, Build Confidence increase their market value, focus their career paths, and explore their compatibility with an organization. Prepare Tomorrow’s Gaining practical experience and career training makes students more capable, more productive and more valuable for when they graduate to Workforce employment. © 2007-2010 The Internship Institute www.InternToolkit.com The Internship Institute • 2865 S. Eagle Road • Newtown, PA 18940 • Tel: 866.60.INTERN (604.6837) • Fax: 215-501-5959
  • 3. Real Work Interns Can Do To Create Real Value www.InternshipInstitute.org Providing students with a meaningful work experience is a ‘win-win’ for any host organization that values productivity. The Internship Institute aims to educate employers and managers about the tremendous benefits of trading time to supervise and mentor students. The chart below has a few examples of student work tasks illustrated in the Internship eToolkit Portal and some of the corresponding support tools within it. Z University continues to deepen and expand these ideas and resources in its online Internship Knowledge Center. STUDENT PROJECT INTERNSHIP eTOOLKIT WORK TASK BENEFIT SUPPORT TOOL Business Intelligence Evaluate whether an internship is right Gather Competitive for an organization. Make the proper • Market Research 101 Intelligence commitment. Identify and Help Aim for the bottom line by having interns Pursue Business • The PCs of Telephone Skills help turn prospects into profit. Leads Business Marketing Write Articles for Recruit an English or Journalism major Internal and External and let them do what they do best for • Sharpening Business Publication Writing Skills the organization. Research and Interns can help identify and manage Arrange Speaking opportunities as well as save managers • Researching Industry and Sponsorship time and effort associated with planning Opportunities Opportunities events. Business Management Gather Educational Improve employee training by tasking interns to broaden the library of • Putting Resourcefulness Resources for educational resources. Into Action Employee Training Utilize computer-savvy interns by Assist with • Developing Presentation Skills having them create, format, and polish Presentations presentations. © 2007-2010 The Internship Institute The Internship Institute • 2865 S. Eagle Road • Newtown, PA 18940 • Tel: 866.60.INTERN (604.6837) • Fax: 215-501-5959
  • 4. Intern Productivity Study Capsule The Internship Institute completed a 5-year study on “live” internship programs which www.InternshipInstitute.org demonstrates that a single, qualified manager can gain 225 full 8-hour workdays of productivity in a calendar year by effectively utilizing college interns. The results overwhelmingly refute any misconception that having an internship program involves too much time and work for too little in return. The study involved The Internship Institute’s first-hand experience managing internship programs through 14 full semester cycles. The study validates the value internship programs can yield by shifting the paradigm of time and productivity management. Employers can benefit greatly if they simply reallocate managers’ time to supervise college interns and have students accomplish project work instead of completing those tasks themselves. Converting student talent and skills into productivity not only enables supervisors to achieve more than they could on their own, it also improves the quality of time for managers to focus on higher level tasks. The study also established guidelines for effective internship program management, including qualifying that intern supervisors should possess at least two years of project and personnel management experience. Each supervisor should oversee no more than four student interns and/or manage no more than 60 hours per week of student project work. NOTE: These figures naturally vary according to individual ability among supervisors and student interns as well as the dynamics of specific work projects and the sophistication of the overall program. CONCLUSIVE METRICS Average Number of Interns 4 students per semester Average Number of Hours/week 15 hours Gross Productivity/week 60 hours Average Number of Full Work Weeks/semester 12 weeks Number of Internship Programs 3 semesters/year Gross Productivity/year 2,160 hours Average Number of Supervision Hours/week* 10 hours Number of Supervision Hours/year 360 hours Annual Net Productivity Yield** 1,800 hours Baseline: Full 8-Hour Work Day Productivity Gain: 225 Work Days * Supervision hours per week during each academic term actually ranged from 4 to 7 hours. The application of 10 hours per week accounts for total program management time, which factors that for pre-program student recruitment, project planning, and administration. ** The annual net productivity yield does not factor the additional variable productivity that an intern project manager will gain as a natural outcome of having more time to achieve higher level tasks and being more productive themselves. © 2007-2010 The Internship Institute The Internship Institute • 2865 S. Eagle Road • Newtown, PA 18940 • Tel: 866.60.INTERN (604.6837) • Fax: 215-501-5959