The Impact of Internships on Graduate Employability Executive Summary Internships are often considered to be one of the most efficient training programs practiced by modern day organisations, which have not only proved to be beneficial for the organisations to reduce training and recruiting costs, but also assist the graduate candidates in obtaining a better opportunity of employability…
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The paper further focuses on the analysis of the normal career path for a post-internship candidate along with identifying the employment prospects from a long term and short term concern. Accumulatively, the paper has been focused on reviewing the value of internship in the current day context. Table of Contents Executive Summary 2 Introduction 4 Analysis of the Current Graduate Labour Market Both General and Specific 4 Identify Skills, Knowledge & Aptitudes Required From Internships to Enter the Market 5 Identify the Medium and Long Term Prospects for Post-Internship Employment 7 Identify the Value of Internship 8 Conclusion & Recommendations 9 References 10 Introduction Lowden et al. (2011) stated that creating recruitment opportunities through placements and internships will not only provide an effectual functional method of encouraging suitable consciousness, capabilities and skills among the graduates but can also endorse creative teamwork and partnership within highly educated interns and employers. Basically, an internship is a part-time training program as per the academic world. In the present scenario, the issues regarding employability have emerged as the core concerns of the various higher education sectors all around the world. For instance, in 2010–2011, the UK government attempted to invest large sums in two internship schemes: for undergraduates and graduates. In January 2010, UK government also intended to deliver a funding amount of ?12.8 million to 57 universities and colleges in order to support the graduate internship programs. It has further been analysed that by the end of March 2011, under these schemes, 7,900 internships were already completed in the UK, which was apparent from the growth of employment within the national context (Hobijn et al., 2011). Analysis of the Current Graduate Labour Market Both General and Specific By taking into consideration the present situation of the employment market, it has often been argued that the unemployment rates, income growth of recent college graduates and the trends of part-time employment have declined after the cyclical recession of 2001, which indicates a direct relationship between employability and internship programmes (Hobijn et al., 2011). However, a global perspective depicts that during the period of 2007 to 2012, the trends of employability have been declining gradually, even though a growing concern was witnessed towards internship programs. This particular phenomenon has been apparent in the case of financial companies where the employers desire to recruit experienced candidates and where post-internship candidates are observed to gain better scope to enter into these competitive employability markets. However, conversely the candidates with no experience tend to face greater challenge in attaining employability affecting the overall employment growth in the global context (Hobijn et al., 2011). According to Kocherlakota (2010), it is viewed that this unrelenting high unemployment rate is due to huge structural frictions within the US labour market rather than the weak demand for employers who are associated with severe recessionary impacts. For instance, mismatch happens when employers are seeking for skills which are quite different from what available workers offer. It is in this context that internship offers career associated job experiences to a candidate
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