Employers are increasingly relying on their internship programs to identify new recruits, according to a recent survey from the U.S. National Association of Colleges and Employers (NACE).
In their 2008 Experiential Education Survey, NACE asked 311 employers in the United States -- 45.8% of them representing manufacturing organizations, 48.7% services employers, and 5.5% government/nonprofit sector -- about their internship programs and hiring practices. The results show that about 36 percent of the Class of 2007 graduates hired by companies had taken part in an internship program within the same company, compared with 30 percent for the Class of 2005.
"Currently, employers say they extended job offers to nearly 70 percent of their interns; in 2001, they offered jobs to 57 percent," NACE executive director Marilyn Mackes said in a press release. "Employers consistently name the internship program as one of the most effective tools they have for hiring new college graduates."
As judged by the retention rates after hiring, both employers and employees are satisfied with the formula. In the study, more than one-third of employers said the former interns are more likely to stay for at least 1 year after hiring, and nearly half said they were likely to be there after 5 years.
It seems the trend will continue to grow. The employers who took part in the NACE survey anticipated a 4% increase in the number of graduates they would bring into their internship programs.
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