An increase in demand for skilled personnel has increased the need for upskilling and cross-skilling of the workforce within organizations. As colleges and universities look to expand their curriculum to meet industry needs and meet the demand for skilled students, more work must be done to adequately prepare students with the training and skills needed to succeed in a job in business.
Ravi Tangirala, Head of MassMutual India, shared his inputs on how stipend-backed internships help boost employability.
VIEW THE INTERNSHIP MODEL
To help students succeed, it is important to reexamine the definition of internship and how we model it to benefit from it. The organizations function as Gurukuls throughout the period. These first-year students do an internship in the organization.
Many internships focus on skills development and networking opportunities, but internships are also a great way to spark nuanced learning in the form of lived experiences that workplace culture has to offer, such as diversity, equity and inclusion, and meaningful conversations about continuous learning.
A paid internship is usually a win-win for both the organization and the individual: the organizations gain fresh perspectives, and ideas that are essential to solving problems, and freshers are compensated for the work they do. By improving the model we can make this involvement more meaningful for both the candidate and the organization.
An internship that offers both short-term and long-term project-based learning helps build ownership, innovation and responsibility. Internships based on candidates’ abilities, strengths and interests can yield valuable results.
BUILDING A YOUNG WORKFORCE
The pay for the work that interns do appears to be a major boost for young talent. The right reward for work creates confidence and motivation to work better and contributes to the overall growth of the company.
Internships provide the right platform to screen candidates for their skills and abilities and enable them to absorb the culture of the organization. Upskilling talent is a low-risk talent development strategy and a highly rewarding strategy when it comes to retention. Internships are the best way to attract young talent and give managers the opportunity to explore skills based on their interests and motivations.
Furthermore, it is a great way to update their skills, network with peers, leaders and industry experts, and gain first-hand knowledge in technology, product and customer lifecycle management, allowing them to further develop their skills improve and prove themselves as part of solutions to real life problems they may face.
The expectations of these freshers or new generations are not just to adapt to the existing work, but to experiment and come up with something new. Because they are exposed to an abundance of resources and knowledge, they can have a different perspective on analyzing a problem or situation that most professionals may not have.
They should be encouraged to contribute new ideas, express their opinions, make mistakes and learn from the experiences of others, while making invaluable contributions to their personal and professional growth.
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With an ever-evolving landscape in education, technology and work, it is imperative to respond to the changing needs of the ecosystem. It is important to have conversations about technology, inclusivity and work culture that the interns can inculcate. The future of young individuals can be strengthened by unlocking future opportunities by working towards them together and investing in them intelligently.
Published by:
Shruti Bansal
Published on:
November 12, 2024
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