We are living in a phase where development and transformation is happening in all sectors around the globe. Development not only brings progress but also increased competition. When an all-round and holistic development takes place instantly, the competition begins to increase rapidly. Such competition can be amongst countries, industries, companies, technologies and the like. While trying to grow and establish oneself in such a competitive environment, the possibilities of winning remain in the hands of those well equipped with the latest knowledge, technologically advanced and able to implement new things faster than the crowd.
In the beginning years of pursuing higher studies, there is the need to focus on gaining corporate knowledge, experience, and upgrade oneself with advanced skills which can help in grabbing opportunities. While having a proper skill and corporate experience in the future, one can never be a victim to the growing competition. The normal academic education with mostly educational values is only the baseline. Growth can only be achieved with real experiences and skill-based knowledge. While studying in college, it is important to start the corporate life as early as possible because, in this challenging world, the most skillful think-tank matters the most.
An internship will pave the way to enhance one’s skills and knowledge and mould it into the needs of the corporate world. The earlier ones start sacrificing their social and personal life for a corporate experience. As one comes across several challenges and issues, they learn from it and become armed to take over the other major challenges and grow.
But finding the right internship to kickstart your career is yet another challenge for every college student. Before identifying the right internship, we should know the different types of internships which is offered in the corporate world:
Learn and earn internships are such programs where the company provides a supportive environment for the fresher to learn and grow along with an earning opportunity. Learn and earn internships programs are generally organised by reputed organisations where a proper learning and growing culture is provided to the interns under the consideration and leadership of an experienced team leader or senior manager. The company provides a suitable stipend to encourage and reward the efforts of the students who sufficiently perform wonderful roles in the internship.
Learning while working programs focus more on work. Under this program, the company focuses on providing basic training and sends the intern on work under the guidance of the team leader. The motive of such an internship is to provide a learning culture to the students while performing the actual job roles according to the basic training given to them. The main focus area of the company involves in getting the right work done from the interns.
The stipend paid to the interns is generally the half of what it is paid to the employees. This practice is generally done by the growing companies to manage their works and operational costs, and also provide opportunities for young talents to learn and grow.
These programs which provide a good learning and growing environment to talented people. The learn and grow model provides all the facilities and the right training to freshers and assign them job tasks and role. They do provide the training, get the work done, but do not pay a stipend. Most of the business owners and talent experts recommend providing a stipend package to the interns which is the best way of nurturing talent as well as rewarding their efforts. This internship program is practically offered by several organisations and is also a genuine way as the main goals of internship (learning and growth) is practised by the companies.
Internship training programs are a combination of on-job as well as off-job training. In this program, the companies specifically relate to the particular industry in which they offer the internship. The company takes a lot of effort in providing the complete package of training which will be helpful for them in the long run. There are certain fees or charge that is taken by the companies to manage their internal expenses and costs for organising such training programs.
Generally, in the above three factors, the charges and rates get covered up with the company expenses and the values generated by the interns. But here, the training programs are specifically provided by the training and development companies which is one of the services offered by them.
Along with the introduction of digital technology, a new definition is added to the internship program. Before the introduction of digital technology, the internship programs were organised and conducted in the office itself. But there’s a new trending concept known as virtual internships. This is a complete internship program that takes place through the internet and the interns can now do an internship sitting in their homes or hostels. This helps in cutting the travelling time and also the cost of travelling expenses.
It is a time saving as well as a cost saving model for the company as well as for the fresher. But when the matter comes of gaining corporate experience, one needs to do a physical internship program as there’s a lot more to experience and learn which cannot happen while sitting in the vicinity of their home or hostel.