Unpaid Internships: How Else Are You Compensating Your Hires?

For every business that posts an unpaid internship or job on WayUp, we always ask the same question: Are there any additional benefits to the position? It’s not that students aren’t willing to work without being paid (as proven by the number of applicants each unpaid listing on WayUp receives). The real issue is what they can get out of the experience. Is it the opportunity to network with experts in the field? A guaranteed letter of recommendation? The potential to work full-time?

It’s no surprise that when you hire an intern, you’re making an important investment in your company – not just because you may want to hire that intern for a full-time position, but also because that intern can become an advocate for your business. They can go out into the world and talk to their friends, family, and strangers about your brand. They can convert the people in their network to customers of your service or product just by word-of-mouth; they can even become customers themselves. That’s why it’s incredibly important to put time and effort into creating a positive internship experience. The best way to do that is to make sure your interns know one thing: that despite the lack of monetary compensation, they are valued and valuable.

How do you ensure that this message comes across? Funny you should ask…

1. Give them real responsibilities.

Yes, compensation can come in the form of the type of work you give your interns – so our recommendation? Don’t just have them fetching coffee or copying files. College students want to learn – not just to build up their resumes, but to expand their skill set. Giving your interns real responsibilities–like mapping out a marketing strategy or pitching a new article for the blog– shows them that you have faith in their abilities. It also benefits your company – you have a young, new hire who can think in new and creative ways, coming up with the ideas you may need to help your company grow and reach new audiences.

2. Schedule recurring lunches.  

We understand that every company has a budget – especially the small ones (#scrappystartupshoutout), so you don’t have to pay for your interns’ lunches every day.   However, it’s incredibly important that you get to know your interns and show them that you care about how their experience is going. During these lunches, you can also give them valuable feedback about how they can develop professionally (which produces more efficient workers for your company) and receive valuable feedback from them about ways the company can improve.

You should also make sure your full-time employees are interacting with your interns, giving them the advice and guidance they need to excel during their time at your company.

3. Give them the opportunity to present their learnings.

Whether it’s halfway through the internship or at the very end of the program, give your interns the opportunity to show off what they’ve learned. They’ll be able to practice and hone their presentation skills, learning how to clearly and succinctly voice their ideas and analysis to other professionals. Allowing them to present will send the message that they work they’ve contributed is incredibly important — that their voices are being heard and their accomplishments are being recognized. In other words, you’ll show them that they are valued – which is exactly what every employee wants.

So as you hire your next batch of interns, think about how you can make your unpaid internship program a mutually beneficially experience — an investment in their abilities as well as an investment in the growth of your company. We promise that putting the extra effort into creating this positive experience will ensure that your interns will talk more about how incredible your company is and less about the lack of pay. So how else will you compensate your interns?