Internships, both paid and unpaid, have become increasingly popular over the last decade with employers and candidates. Employers have long recognized the significant expenses incurred to identify, recruit, hire, and train employees, only to lose the employee who then quits and moves to another company or industry. Presently, one in three employees in the U.S. leaves his or her job for a new position each year – this is substantially higher than the rate of one in four that existed in 2006, according to the U.S. Department of Labor.
The associated financial costs, trade secret security risks, and loss of productivity for companies, as well as the delayed advancement opportunities for employees, have spurred both parties to embrace company internships as a “trial run,” a period where each can realistically determine whether a long-term relationship would be mutually beneficial. And whether they stay on board, interns can gain a wealth of practical experience that can set them on the path to a long and rewarding career.