Intern and early career programs are the not-so-secret sauce to building a thriving future workforce and equipping companies with a fresh infusion of creativity and new ideas. They also serve as a transformative stepping stone for young professionals, exposing them to real-world experiences and skills to kickstart their careers! The caveat? These programs are only mutually beneficial when done right. A subpar (or downright negative) intern experience will taint their first impression, quickly steering that young talent away from growing their career with your company.
That’s where global mobility comes in. By equipping interns with the right support – from lump sums to bespoke tech tools, roommate matching services and housing support – we can ensure a smooth ride for incoming interns, allowing them to immerse themselves in the experience unburdened by the stress of finding a place to stay or managing their expenses.
As the Baby Boomer generation ages out of the workforce, succession planning has become a key area of focus for many employers, emphasizing the value of internships and early career programs. Naturally, the competition for the best and brightest intern talent is fiercer than ever before. Following the success of our 2022 and 2023 Intern & Mobility Surveys, we’re back at it again with our latest deep-dive into the evolution of these programs and the changing role of global mobility in driving their success.
A Sneak Peek into Our Latest Intern Research
Weichert Workforce Mobility, in partnership with Weichert Corporate Housing, has fine-tuned our questions in response to last year’s comments and inquiries and we’ve been thrilled to uncover new trends, challenges, and opportunities in our most comprehensive survey on the mobility practices that support these in-demand programs.
We found that internships are popping up everywhere, benefiting the youngest talent demographic as well as the companies welcoming them. We also explored where internships are happening, the rise of co-op programs, and the importance of diversity, equity, and inclusion (DE&I) efforts. By comparing these factors and trends over the past few years, we offer some juicy insights for companies looking to boost their internship and early career programs. Here are a couple of key highlights to tide you over until we release the full results:
- Co-op programs are on the rise. These programs, especially popular in Canada, Australia, and Germany, help young people transition from school to work and are often full-time, paid positions.
- The competition for intern talent is increasing, with 64% of companies saying it’s been getting tougher over the past five years to attract the interns they want.
- Companies are using various methods to support intern mobility, including lump sum payments, reimbursements, and ongoing allowances. Housing remains a significant challenge for many companies, with 63% noting it as their top obstacle in administering internships.
Overall, companies are continuously fine-tuning their intern programs to attract and retain top talent. By leveraging technology and offering various support mechanisms, they are better positioned to meet the needs of the future workforce. So, grab your popcorn and get ready for some exciting times ahead!
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