Internships More Valuable Than Ever as Talent Resource

It’s easy to list specific reasons why an organization should start an internship program: increased productivity, enhanced creativity, effective recruitment – to name a few. But it’s the coveted notion of saving time and money while getting quality results that’s music to the ears of any Indiana employer considering an internship program.

In fact, these days when hiring for a full-time position, some organizations may not have the time or financial resources to recruit a seasoned individual. According to the National Association of Colleges and Employers’ (NACE) 2012 Internship and Co-op Survey (based on 952 employer responses), nearly 85% of employers said that they use internship programs as a tool for recruiting entry-level talent.

NACE’s survey also indicated that 58.6% of respondents’ full-time entry level hires from the class of ’11 were from their internship programs, an all-time high for the conversion rate.

With the rising cost of recruitment, this transitioning of interns into full-time hires may be the most viable option for some employers. NACE’s survey shows the average acceptance rate for full-time positions was astoundingly high at nearly 90%, which lowers the cost-per-hire; therefore, there is no doubt that hiring from an internship program decreases recruiting costs. 

NACE’s survey also found a positive correlation between internship experience and employee retention. Approximately three-out-of-four employees who had previously interned with their organizations were still employed there after one year. Meanwhile, 62.4% of previous interns remained with their organization after five years. 

Adding an intern—or several interns—to your organization is not only a smart recruiting strategy, it’s good business. Corporations, small businesses and non-profits can give back to the community through mentoring and offering a position to an individual seeking an internship.

There couldn’t be a more perfect time to begin your internship program. With more than 4,800 Indiana employers and about 9,000 students registered, Indiana INTERNnet is a great place to begin those internship connections. If you haven’t already, visit www.IndianaINTERN.net to register for a free employer or student account. 

Muncie Ranks 2nd Nationally in College Town Affordability

If you want to live in a college town without breaking the bank, you might give Charlie Cardinal a call. Coldwell Banker released its Annual College Town Home Price Affordability Index and Muncie ranked second for the second consecutive year:

For the second year in a row, Muncie, Indiana (home of Ball State University) ranked 2nd in the nation in Coldwell Banker’s “Annual College Town Home Price Affordability Index.” Every fall, college football fans feel nostalgic for the tradition, lifestyle and spirit of their college towns as they cheer on their favorite teams. This year’s Coldwell Banker College Home Price Affordability Index comparison reveals that these school-centric areas also sport very affordable homes, in addition to the culture and economic stability associated with institutions of higher education – making them great areas in which to purchase real estate.

The 2009 Annual College Town Home Price Affordability Index released by Coldwell Banker Real Estate LLC provides an apples-to-apples comparison of similarly sized 2,200 SF, four-bedroom, two-and-one-a-half bathroom rooms in college markets home to the 120 Football Bowl Subdivision Schools. This year, Akron, Ohio (University of Akron) is ranked as the most affordable college town, where a typical four-bedroom home costs $121,885. Muncie, Indiana (Ball State University) took the No. 2 spot for the second consecutive year at $144,996. Ranked No. 3 was Ann Arbor, Michigan (University of Michigan) with a home price average of $148,000.

Other Indiana Division I-A Football School college towns were ranked as follows:

  • 9th Bloomington Indiana University $164,433
  • 23rd South Bend University of Notre Dame $183,938
  • 29th West Lafayette Purdue University $189,000

The top three “most expensive” college towns for the typical 2,200 SF four-bedroom home are Palo Alto, California (Stanford University) at $1,489,726; Los Angeles, California (UCLA and USC) at $1,347,125; and Boston/Chestnut Hill, Massachusetts (Boston College) at $1,337,578. The top ranked “most affordable” conference in the College Town Home Price Affordability Index is the Mid American Conference with a average price of $182,322. Ball State is a member of the MAC Conference. The most expensive conference according to Index is the PAC-10 with a $747,180 average. The PAC-10 features a number of west coast schools as members.

Indiana INTERNnet Joins the Twitter Party: Great Resource for Students, Employers and Schools

Twitter is an online system for people to communicate and stay connected through the exchange of short, frequent answers to the question: “What are you doing?” At Indiana INTERNnet, we thought it would be a good way to communicate our latest internship postings and statewide internship activity. The New York Times says the system is one of the fastest growing phenomonas on the Internet and according to Newsweek, it seems that all of a sudden the world’s a-twitter. 

On our feed, we’ll post links to current internship postings from www.indianaintern.net, provide anecdotal internship testimonies, offer internship event information and do our best to elevate interest for Indiana internships. This will be an ideal resource for employers, students, and education faculty and staff.

Keep up on the latest Indiana internship news by “following” Indiana INTERNnet at https://twitter.com/IndianaINTERN. We’ll update frequently and look forward to Tweeting with you.

Manchester College Program Puts Students on Fast Track

Parents have enough to worry about these days when it comes to finances. "Do we have enough money to pay for utilities and go to Kings Island?" After all, the Vortex won’t ride itself. Or "can we afford those organic cereals with the adorable koalas and gorillas on the boxes?" Granted, those Panda Puffs might provide for a fantastic explosion of taste and peanut buttery excitement, but losing the aspartame comes at a price, folks.

And as the cost of living continues to rise, so do tuition prices for many Indiana parents hoping to help their children aspire for higher learning. One way to combat this financial scourge is simply for students to spend less time at school. Leading the charge in the Midwest, Manchester College has applied its three-year Fast Forward program to all 55 of its majors.

While critics argue the program deprives students of the full college experience, Manchester claims some Fast Forward students can still study abroad and take part in many extracurricular activities, depending on the major. 

To read more about the program, turn to the Chamber’s BizVoice magazine.