Benefits of an Internship and Scholarship Program
Offering a pool internship or scholarship program is valuable for many reasons, including to:
1. Develop your pool’s unique talent pipeline and attract top talent.
Connecting early in the college-to-career journey through internships and scholarships is a chance for prospective employees to learn everything that’s great about working for your pool.
2. Stand out in a competitive job market.
Internships and scholarships help your pool stand out in a competitive hiring landscape among post-secondary institutions and their students, faculty, staff, career centers, coaches and more. A well-executed investment in these programs will increase awareness of rewarding careers in pooling and foster interest in the industry.
3. Increase staff capacity and productivity during a specified time or project.
A well-designed internship program is a cost-effective way to add staff support for specific projects or during peak periods.
4. Gain a competitive edge by diversifying your workforce.
Different generations bring varied workplace expectations, worldviews and increasing diversity in socioeconomic backgrounds, race, ethnicity, gender identity and religion. Internships, especially, provide your pool insights into the values, expectations, norms and trends of the incoming workforce.
5. Improve hiring efficiency while investing in your talent pipeline.
Transitioning a job applicant to an employee requires significant time and costs. An internship or scholarship program connects your pool to future employees early. According to an article in Forbes, companies offer 72 percent of their interns full-time employment, with nearly 80 percent accepting those offers.
6. Improve operations by incorporating new ideas and perspectives.
Internships can enhance your pool's cognitive and demographic diversity. AGRiP’s Intelligence publication shared research showing that organizations with diverse teams are twice as likely to meet financial goals, three times more likely to be high performing, six times more likely to innovate and adapt, and eight times more likely to achieve desired business results.
7. Support professional development of current employees.
Administering internships or scholarships offers existing employees valuable learning experiences. Internships facilitate the development of supervisory relationships and project management skills, while running a scholarship program helps build project management and communication skills.