Start-ups led the rise
Shriya Gorg, co-founder and CEO, Continentinja, a six-year-old Gurgaon-based start-up, has been hiring three paid interns since its inception in 2016. To attract the right talent. Paid internships serve as a surefire way to encourage young people not only to experience the start-up culture, but also to see long-term employment opportunities with us, “she says.
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Nikhilesh Tiwari is an eight-year-old tech start-up from Hyderabad, co-founder and director of Helical Insight. “As MBA students, we had our first experience of how young professionals prefer paid internships over options. As a start-up, we did not have sufficient funds to offer regular employment across all domains. We’ve started offering paid internships in marketing and sales domains in management grades from III colleges, ”he said. “Another option is for interested candidates to take full-time or half-time paid internships according to their needs and availability. This helps to create a sense of continuity and loyalty among the participants, increasing our chances of retaining good interns in the long run,” Garg said.
Introducing young talents to the start-up culture and making them feel at home with a welcoming attitude is also increasing the number of internship recipients. “Unconventional and informal office environments, including social media connections, help motivate young people,” Tiwari said.
Publication of statistics
Internshala founder and CEO Sarvesh Madhu Agarwal says the number of paid internships has increased over the past few years, both for large firms and start-ups. “From 2017 to November 2021, the number of internships offered increased by 191%. Most students choose it to earn money and gain experience, ”he said.
The year 2020-21 was good in terms of stipends, which were up to Rs 90,000 per month, Agarwal added. The top 10 profiles for which paid internships were posted by employers both large and small include business development, content writing, social media marketing, digital marketing, graphic design, marketing, web development, human resources, operations and mobile app development. ”
“The tendency to work from home has increased the number of student applications in Tier-II and III cities by 159%,” he added.
Changes in corporate culture
The country has seen an increase in start-ups almost seven years ago, with Nilesh Dange, CHRO, L&T Financial Services, adding that it has been a major factor in introducing paid internships across industries and sectors. “Start-ups’ offer of paid internships has adversely affected the legacy system of large corporations. We understand that there are many positive aspects to offering a paid internship, including finding the right talent and being able to see young people in action before giving them a full-time job, ”he said.
SV Nathan, partner and chief talent officer, Deloitte India, says there is no structural difference between paid and unpaid internships. “The company offers the same opportunity in both cases. It is up to the interns to get the most out of it, “he said.” Internships offered increase a company’s chances of finding the ideal talent. ”
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