Internships are opportunities that allow young students to utilise their time in a judicious and effective manner. It prepares them to adapt, challenge, and grow with the rapidly changing business environments. Several industries have opened different avenues to attract and groom young talent as per their business requirements.

Different Management Institutes, Universities, and Colleges believe that internships, industry interfaces, live projects, and guest lectures by industry experts are a new medium that is shaping the education business and the industries globally.

Internships open doors for aspiring professionals, to take risks and challenge themselves for a better tomorrow. On the other hand the organizations get an opportunity identify, assess, and develop the capabilities of interns. Now a days corporates like Deloitte, Google, Hindustan Unilever, Pepsico, Ernst and Young, Make My Trip and many more invite young applicants to apply for internship programs in areas of their interest. These range from traditional core functions such as Marketing, Finance, Human Resources, and Operations, to opportunities in the Social Media, and Digital Marketing which are new age functions.

The evolution of social media and digital marketing has opened many more avenues of internship programs; nowadays young professionals can work in virtual spaces and gain experience. They can enrol themselves in projects, discussions forum with diverse teams operating across the globe.

Internship programs are responsible for adding qualitative and academic advantage to the resume of young and budding professionals. Moreover it allows young students to develop skills such as interpersonal skills, analytical skills, leadership skills and Team work skills.

Real Life Examples Shaping the Industrial Front:

We all know that Hospitality & Tourism Industry is a labour intensive industry, hence it offers an internship program for a period of 6 months wherein the interns are exposed to different core functional areas of a hotel. These include: Front office, Food & Beverage Service, House Keeping, and Culinary operations. Other operational areas include Sales & Marketing, Finance, Human Resources, Maintenance, Procurement, and Security. The  interns are rotated in all the core operational areas where they learn how each department contributes to the functioning of the hotel.

Interns are given an opportunity to work in teams which organize large scale and mid-scale events this allows them to develop further knowledge and skills into their respective areas of interests.

Top Indian and International Hospitality Chain groom interns as per the industry standards. In case during the internships they perform above the expected levels, they are offered pre placement offers which can be availed post completion of their graduation.

Another aspect that would definitely draw your attention is that interns are provided guided support in the form of mentorship programs and both colleges as well as corporates work towards grooming the young workforce into being budding managers of future.

Internships provide multiple set of advantages to interns as well as the corporates. The rapidly changing business environments and advancement in technology have given rise to the new age opportunities to organizations and interns. For example nowadays many organizations offer research based programs in the form of virtual internships. Social Media is a new age media which allows interns to work together and gain global exposure in their respective fields. Organizations ensure that interns adapt to the culture of the organization and learn and grow.

The organizations also get an opportunity to assess the potential workforce; it is also cost effective since the organizations can invest in developing the existing workforce who are already aware of the processes within a company.

Internships that stretch for six months to a year can be transformed into a permanent job role, if the interns perform exceptionally well. Internships are generally rigorous training mediums which are used by organizations to train and retain a skilled workforce, in a cost effective manner.

Key Learnings  From An Internship:

ü  Corporate Exposure: Even before facing the challenges of the corporate world, the interns receive a chance to experience how the corporate world functions.

ü  Mentorship Program: Every intern is assigned an Industry mentor, who guides him on future career prospects within the fields available.

ü  Learning Environment: Internships offer a conducive and vibrant learning environment to interns.

ü  Competitive Advantage: Interning in big brands such as Google, Indiabulls, Evalueserve, HP, Samsung, Amazon, ACER, gives a competitive edge and adds more value to the CV of young interns.

ü  Internships enthuse, empowers; motivates interns to perform well under challenging circumstances.

ü  Internships are used to generate future employees

ü  These are opportunities that knit humans and technology together.

ü  They are responsible for increasing employee retention rate.

ü  Internships are a way to enhance the skills of the local workforce.

Internships are shaping industries globally, almost 70% of the workforce is offered full time employment based on their performance. Enhances overall productivity of employees; it also adds novel and new perspectives of business.

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Integrating Human Resources & Business!!

In the early 1990’s businesses had no idea about the concept of Talent Management. Small and large businesses were generally product and process oriented rather than being people oriented. The key objective in those days was increasing sales, generating substantial revenue for the business and reinvesting it for process and product development.

Human Resources was a support function, which was responsible for looking after the general administration of the business. This included maintenance of office expenses, ensuring upkeep of office premises, maintaining attendance & leave records, and processing salaries etc.

In recent times the organizational needs & business requirements became more complex and challenging due to changing needs of customers. Hence this generated a need to shift the focus from product & process orientation to people orientation. Further the development of IT Infrastructure within the country supported this transformation. It was due to this transformation and change in business needs that led to the introduction of Talent Management in the organizations.

Let us understand what is Talent Management, and how did it add value to the organizations as a whole? Well several professionals have argued on this concept and its importance.

Talent Management is a process, of attracting people with the right skill set, knowledge, and expertise in a particular field or industry. Talent Management concentrates on developing existing talent through nurturing talents by training and moulding them as per organizational requirements.

Employees possess different forms of talent; these may include professional qualification, experience in a particular field, and nurturing talent with the help of training and mentoring, aptitude, knack for a particular domain. For example: An employee has a numerical aptitude, and is able to analyse and interpret data, hence the organization can utilise this employee’s aptitude in a job involving numbers and data analysis.

Another example is an employee has good interpersonal skills and negotiation skills, he can be absorbed by the organization in a role involving business development and client relationship management.

Talent Management roots itself from the ancient times in the country, During the Mughal rule in India, gave rise to dancers, musicians, painters, artisans, potters, and army men who possessed different skill sets. They contributed significantly in their fields.

During the era of Mahabharata, Arjuna was considered as one of the finest archers, It was due to his skills and mentoring given by lord Krishna that he along with his brothers and the army were able to win back their kingdom from the Kauravs in the battle field.

Keeping this example in mind, if organizations need to recruit, retain, develop and train talented workforce that is able to acquire and retain a sound customer base, then incorporating Talent Management as a key business strategy is essential.

Talent Management is not as simple as it sounds, for example a nurse at a leading hospital is asked to operate a patient in this case, the life of the patient will be at risk and the reputation of the hospital would also be at risk. In the same case if the nurse is asked to assist the doctor in performing the operation successfully, chances of attainting success are very high as both people involved in the operation are experts in their own field.

Talent Management assists organizations to integrate their business processes and empower employees to utilize their skills and knowledge and expertise to deliver customized and tailor-made services to external and internal customers. Hence it leads to creating value for the customers which leads to overall growth of the organization.

Talent Management – An Effective Tool:

• Increases Employee morale.
• Identifies areas of improvement, and filters out unfit candidates.
• Enables employees to think out of the box, ensures employee contribution is valued.
• Enhances work culture and organizational culture as a whole.
• Enables diverse workforce to contribute towards a common vision.
• Creates a conducive learning for employees
• Enables employees to take challenging roles, provides them an opportunity to grow and develop.
• Enthuses, and Empowers employees to create value.
• Synchronizes employee goals with business goals.

Talent Management is an effective and crucial business strategy that enables organizations to recruit retain, develop and train skilled workforce to achieve business goals, enhance organizational productivity and create value for customers. Hence Talent Management is a result of integrating Human Resources and Business.

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