Earlier this year we conducted the largest internship survey ever with over 9,000 student respondents from universities around the US.
We set out to explore key issues, from the trend of students moving away from career fairs to how unpaid internships impact men and women differently. The results are fascinating. For students we were able to identify some of the key differences between students who receive internships and job offers and those who don’t. For employers we identified the big student trends that impact hiring and conversion rates.
With internship season approaching we wanted to share our findings as well as our full 2014 State of the Internship Report.
- Students want to be a big fish in a small(ish) pond. Their #1 choice of company size is midsize companies between 50 and 250 employees (42.2% of students selected this as their top choice). Students want to work at companies that have enough traction to have established internship programs, but not so large that they are just another fish in the sea.
- They’re Down to Get Social With It. About 2/3 of students use social media in their job search, and 83.4% maintain online career profiles. With a host of options, LinkedIn and LookSharp are the platforms of choice.
- If At First They Don’t Succeed… Among the 41.5% of respondents who have not yet had an internship, 71.5% have searched for opportunities. These students leveraged five to seven different tools and resources in their search, everything from career websites to university career centers.
- They Have Full-Time Flexibility. 76.4% of seniors said they were willing to move to other cities to land full-time employment.
- Mentorship is Key. Students ranked access to executives and mentorship above work-life balance, compensation, and prestige in their list of important internship attributes.
Traditionally, companies have used two mechanisms for finding interns and making college hires: university career fairs and internal referrals. Both are effective but face major challenges.
Campus recruiting can be an arms race. You compete for the best booth, the best swag, and the best perks, but everyone knows that just because a student stops by to grab that free hoodie doesn’t mean they are a good fit for your company. (Have you ever met a student who can say no to a cool sweatshirt? We haven’t either).
Campus programs are also hard to track. Getting your brand out there is valuable, but more and more students are going to Google and to social media to learn about your company and culture. This past year career fair attendance hit an all-time low; meanwhile, students said the number one thing they want from their career centers is more social media updates.
Let’s face it: it’s not just about the free sweatshirt.
Over the past 5 years we have spoken to thousands of companies and HR managers. They have told us about their concerns over decreasing budgets and increasing demands. They have talked about their need to increase the quality of their candidates, reduce their time to hire and to find candidates across the country to make up the DNA of their workforce in the future.
These concerns led us to develop an all-new product that we are thrilled to share with you today: Profile Search. Profile Search is the easiest way to find student and recent graduate job seekers. It is the proven way to reduce your time to hire and free up your team to focus on other critical projects. Like designing that perfect sweatshirt.
Learn more about Profile Search here or create a free account and try it today. All new accounts get 5 free invites to help you make your next amazing hire. Enjoy!
For a long time you have known us as InternMatch. We helped you find great interns and many of them turned into great employees.
Sometimes though you needed someone who was a bit further along. That’s why last year we launched entry-level jobs on InternMatch. Since then thousands of companies have posted jobs and millions of students and recent grads began searching, applying and getting hired for these roles.
A few years ago we met with the CTO of a Fortune 500 tech company that hires over 200 engineering interns every year and has one of the leading internship programs in the US.
He was focused on growing the company’s full-time engineering team by converting high performing interns to entry level positions. When he reviewed the intern program he learned that interns weren’t being sent offer letters at the end of their internship and the company’s conversion rate of interns to full-time hires was a fraction of the industry standard.
Even the best intern programs make mistakes. Between hiring, managing your program, and keeping up with the changing habits of millennials, it’s easy to let some things fall through the cracks. This guide is here to help you understand 7 most important attributes of a successful internship program.
- Build a strategy for converting interns to hires
Many companies including Boeing and Facebook send offers to interns at the end of their intern program and incentivize students to accept those offers early. Boeing, for example, will pay for a student’s entire senior year college tuition if they accept a full-time role. Ultimately, not every company can afford a program like that, but if converting interns to full time hires is one of your biggest goals, you’ll need to develop a strategy and track key metrics closely. One without the other is of limited use.
After surveying eight thousand recruiters, we found that 81 percent of firms will spend 2014 hiring diverse candidates. Is this on your To-Do list? If so, try utilizing social media for your talent search. More than half (54%) of recruiters now utilize Twitter for hiring purposes.
Still on the fence?
In a recent article published by the Wall Street Journal, Twitter was dubbed more racially diverse than Facebook and Pinterest. Forty percent of African American Internet users between the ages of 18 and 29 use Twitter on a regular basis and almost half (41%) of the entire Twitter community is Hispanic, Asian, and African American. Twitter has evolved into a powerful tool for companies looking to recruit various cultures and fresh talent.
As the war for sourcing the brightest and best technical talent continues, employers have found that attending career fairs to handout boxes of swag doesn’t quite cut it anymore. From hackathons to product demos, technical recruiting has been taken to the next level in 2014 and we’re here to help you identify the trends, like:
- Which employers attended the most student-sponsored hackathons in 2013
- What kind of on-campus events will help your company standout on campus
- How companies like HootSuite and Amazon are using Campus Ambassador programs to promote their brand on campus
- The key to hosting a successful tech talk
Before your team heads out on campus, check out our free Ebook to learn more!
Internships have come a long way since their birth in the 11th century. Interns may no longer participate in the back-breaking labor required of apprentices from centuries ago, but the internship has transformed into an increasingly valuable asset for providing students with the experience and skills for success in their chosen career field. Have you reaped the many benefits of an internship yet?
The highly positive professional experiences provided by internships has become necessary to getting hired in today’s competitive job market. In fact, 66 percent of employers think relevant work experience is the most important factor in their hiring decisions.
Feeling lost when it comes to creating an amazing internship program? Good news! There’s no need to pull over and ask a stranger for directions because InternMatch knows the way. Our quarterly report, that we turned into a aesthetically pleasing infographic, will serve as your guide to understanding exactly what it is that students want to get out of their internships. My personal favorites are as follows: (more…)
This is the most important season for summer intern hiring. With the start of fall, the world of college recruiting has its sights set on Summer 2014. Companies and recruiters alike are out in droves at career fairs on campuses across the country promoting their brand, handing out schwag, and searching for their next crew of summer interns and new grad hires. Fast Fact: The average Fortune 1000 employer goes to 25 career fairs during the college recruiting season. Regardless of whether you’re a startup, small business, or mom ‘n pop shop, entering this pool sooner rather than later is important.
This is a guest post by John Stacey III, vice president of Campus Operations at Course Hero. Stacey joined the Course Hero team in 2010 and was integral in developing the company’s internship program, as well as the Knowledge Drive.
Course Hero is an online learning platform with one mission: to empower students and help them learn and succeed more effectively. On our site, we do this by curating the best content we can find, from study notes to practice tests, developing easy-to-use educational tools, such as digital flashcards and building a catalogue of tutoring experts, both online and in-person, who are available to students 24/7. (more…)