As you prepare to welcome your summer interns with open arms, take a step back and think about just how much internships have changed over the last half-century — and a look at where they’re going next.
In the 1980s, only 3% of companies hired interns. Today, that number comes in at 47%, or nearly half of all employers.
That’s according to new research from InternMatch.
Perhaps more valuable to companies is the changing face of interns. In 2013, 33% of companies are hiring virtual interns — a 20% increase from 2011 to 2012.
Other notable statistics:
- 37% of students say internships are a good job-search resource
- 81% of employers find they have better experiences with new hires that have intern experience
- 92% of recruiters use or plan to use social media for recruiting interns
- 63% of all internships are paid, though 72% of interns think pay is the least important factor of an internship, and
- Interns are 70% more likely to be hired as full-time employees with a company.
One note: Hiring interns isn’t always the easiest legal landscape to navigate, especially when it comes to hiring unpaid ones.
If you want to hire and employ unpaid interns, there’s a particularly high threshold they have to pass, according to a fact sheet released by the Department of Labor in April 2010.
The following six criteria must be applied when determining if an internship can be unpaid:
- The internship, even though it includes actual operation of the facilities of the employer, is similar to training which would be given in an educational environment;
- The internship experience is for the benefit of the intern;
- The intern does not displace regular employees, but works under close supervision of existing staff;
- The employer that provides the training derives no immediate advantage from the activities of the intern, and on occasion its operations may actually be impeded;
- The intern is not necessarily entitled to a job at the conclusion of the internship; and
- The employer and the intern understand that the intern is not entitled to wages for the time spent in the internship.