Why should you pay interns? An intern (particularly for early career positions) gets the benefit of good experience and a 'resume boost'. That's pay enough, right?
Basic economics suggest not.
Unemployment is at a low point. Candidates have options. Pay your interns to attract a broader talent pool. Because, not everyone can afford to skip the paycheck - and in this economy, they don't have to.
Well-structured internships add value for the organization - via added capacity to complete tasks that others haven't got time to do; new analysis or insights to shape decisions; fresh perspective; and more. Meaningful internships generate good will long after the intern has left the building. A happy intern can be your best brand ambassador.
All of that ultimately translates into real money for you: adding revenue, expanding reach and customers, reducing cost, accessing talent more readily. That’s tangible value.
So, pay the intern, already!
©2020 Tara Rethore