According to dictionary.com, an internship is defined as “any official or formal program to provide practical experience for beginners in an occupation or profession.” The most important element of internships is that they integrate classroom knowledge and theory with practical application and skills developed in professional or community settings. They also bring a wealth of benefits to students, both while completing a degree and when seeking a career path post-graduation.
There is no substitute for experience; learning from experienced professionals is a tremendous way to get to know your industry. People are often surprised when they leave school or graduate from University, by the huge difference between what you read in textbooks versus completing tasks in the real world. In University you can often skate by for weeks at a time doing very little, go to lectures and sit on your phone, maybe get some homework done the night before it’s due in. In (most) workplaces this simply won’t do as your manager and colleagues are aware of your productivity and hold you accountable if you don’t complete it satisfactorily.
While you’re on the internship it’s a fantastic opportunity to develop skills, things you could never do before. Until I did my internship in software Engineering, I had only ever given presentations to classmates and was so nervous beforehand that I dreaded it. However, after the experience of writing out the company business plan and presenting it to would-be investors, I now feel extremely confident in my ability knowing that if I have a good grasp of the material, there is nothing to be concerned about as I can present in an informative manner and comfortably answer questions.
Internships also help in that they expose you to workplace issues that aren’t covered in the classroom. Even simple things like going out with your friends for a few drinks on Thursday evening and not quite fancying an early morning lecture on Friday doesn’t cause much of an issue. This is a totally different issue in the workplace and can lead to big problems, not just an angry boss, but your colleagues genuinely depend on you for group productivity so if you go missing, they will often have to pick up your slack and unless you genuinely can’t get to work, that’s not fair.
Group work at University can be frustrating, but the pressure you feel to get a passing grade is nothing compared to investors or directors who are judging you and your group’s knowledge and ideas. Do you know about 40% of employees come from internship programs? Interns provide companies with an array of perspectives and benefits they’ve likely never realized.
If you’re on the fence about implementing an internship program, consider the many benefits you or your company may receive. Here’s a list of just a few:

1 Increase Productivity and Retention

Did you know that higher productivity and retention can be achieved through internships? The 2015 NACE Internship & Co-op Survey found that more than half of employers had a higher five-year retention rate from employees that were hired through internship programs.
Aside from having extra people to help with projects, interns often come with tons of energy. They’re eager to learn, ready to work, and most want the chance to prove their value with the hopes of being hired by their potentially new employer.

2 An Easy way to Develop young and new Talents.

Internships provide the best test-drive, the wine tasting, “try before you buy” option for employees. Metaphors aside, internships can be a powerful vetting process even before any short-term work they do is factored into the equation.
To make the economic case clear, the organization’s whole hiring ecosystem must be considered. Hiring is a time-intensive and high-risk endeavor, where the wrong hire can cost a company as much as 15 times their salary according to Geoff Smart and Randy Street, authors of Who: The A Method for Hiring. An internship is a low-risk and clear way of testing the fit of a potential employee because you actually work with them!
The most common argument against internship programs is the cost in time and money. This is a sound argument if the program is poorly run, talent isn’t recruited, work isn’t properly mapped out, and there is no long-term pipeline need for hiring.
If your organization is hiring people annually in entry-level positions, an internship program should be a must. This is what DoSomething.org realized early on; roughly 30% their current staff are former interns.

3 Job Experience.

Job listings often describe requirements such as education and minimum job experience. If you are entering the workforce for the first time after college or a vocational training program, you likely do not yet have the required experience. An internship is a perfect way to fill that gap. You can gain valuable exposure to how a business in your chosen field runs, take part in meetings and perform assigned tasks in a real-world setting.
In my personal experience I found that once I’d done my internship and was able to add tasks and accomplishments to my CV to go alongside my academic achievements, interest from companies skyrocketed. It’s because someone who already has experience is less of a risk. The fact that someone has already hired you and the new company can see what you’ve done really boosts your EMPLOYABILITY.

4 Internship are good for the Economy.

The goal of your organization is to solve the social issues of the mission, not to help the economy. However, it is great to know how your organization’s labor practices can contribute to the larger system.
Internships are a critical step in the learning journey of young people, one that is desperately lacking in our current economy. This has been true since the dawn of specialized skills, where apprenticeships taught upcoming generations the secrets of the trade. Current data from NACE show that paid internships lead to a 60% chance of employment, versus 36% for those without internships.
Helping young people join the workforce in their respective fields of interest accelerates their growth and maximizes their lifetime earning potential. The sooner someone begins their career journey, the faster they learn and gain experience that result in increase compensation. Internships are one of the best ways to accelerate college graduates into the workforce as baby boomers retire.

5 Networking.

The most successful job searching usually comes from meeting others in your field who can recommend you for open positions. Internships are a practical way to expand your job network. The professionals you will meet might be the most valuable connection to your future jobs, so showing curiosity, enthusiasm and willingness can help professional contacts see your potential.

• Related: 10 Tips to Help You Network Like a Pro

Having an internship benefits you in the working environment, and it also builds your professional network. There is a 1 in 16 chance of securing a job by connecting with people, so networking is critical. Internships provide a great environment to meet professionals in the career field you want to pursue, as well as other interns who have similar interests.
As you will see from a case study later, making connections for the future can be of great benefit further down the road. A friend of mine got a great new job and the first year of his PhD paid for by a man running a company who used to be his manager during his internship. I’m not saying it will work out this way for everyone but it could be something as simple as a job referral or a skills recommendation on your LinkedIn!

6 Professionalism and build your resume.

Internships can provide students with the soft skills needed in the workplace and in leadership positions. In a LinkedIn Skills Report (2018), 57% of people rated soft skills as being more important than technical skills. Skills, such as communication, leadership, problem-solving, and teamwork can all be learned through an internship and utilized beyond that experience. Internships help students learn all about workplace culture, employee relations, and leadership structure, which should help them onboard in their first professional job with more ease than if they haven’t had professional experience. In the event that you are a finalist for a position make sure you at least have one internship on your resume before leaving college to give you a leg up on the competition.

Conclusion

If you work smart, work hard, listen to people who are more experienced and learn from them you can go on to have amazing experiences and awesome careers!
So go and find yourself amazing in an internship and who knows, maybe someone will be asking you to pass on your advice and tips in the future after you’ve had your own amazing experiences! Internships in fields like marketing, finance, sales, teaching, IT and more can be found at here, so don’t forget to utilize this resource to help you get your own internship!
Work with your HR department to find out whether you have the tools necessary to start an internship program. Get your company ahead of other businesses by starting your internship program today.