Internships are a staple of the college experience. Some colleges require that their students complete an internship prior to graduating, while others strongly suggest that students gain valuable real-world experience. Students can choose whether they want to earn college credits for their internship, or receive payment for the work performed. It also depends on what the company prefers to offer its interns. Below, we will discuss whether or not your company should offer paid internships.
The Case for Unpaid Interns
The most common internship compensation tends to be college credit. Whether it is required by the academic institution the student attends, or because the student would prefer to earn credits, many internships are worked for course credit. These credits typically allow students to take one or two fewer courses at their school depending on how many hours the student works during the internship.
Then, there are some internships that do not provide the student with credit or payment of any kind, simply real-world experience and the possibility of securing a full-time job when it is complete. There are students who will work these internships because they value the experience more than the money or the credits that could be earned.
The Case for Paid Interns
The other type of internship out there offers students who work them payment instead of college credit. Most colleges and universities will tell their students that if they are paid for an internship, they will not be issued course credit, so they must choose one or the other.
Paid interns are very common today and many companies offer paid internships in an effort to attract students who might not consider working there under any other circumstances. There is a major drawback to offering paid internships for companies. That drawback is the fact that companies might attract unworthy candidates for their internships simply because it is paid.
Hire Temps as an Alternative
There are some companies out there that will forgo the internship altogether and instead hire temp workers as an alternative to interns. This is especially important for companies that are going to pay their interns for a three-month period on the job.
Instead of hiring inexperienced college students, consider hiring temporary employees to fill any open jobs or help with an unexpected volume of work. You will be hiring someone who has real-world experience, has worked with various companies, and understands what it takes to be successful in the professional world.
When a company hires temp employees instead of unpaid or paid interns, they are putting themselves into a better position for succeeding within their industry. The company will also not have to constantly watch the employee while on the job like they might have to should they hire an intern.