Custom How Do You Plan Term Paper

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The intern wants a great deal of satisfaction that cannot be quantified -- exposure to training, the mentoring of his or her talents, and the sense of gaining a window into an industry to see how things work, and a foothold into a company where he or she will be treated with respect. "Training can also be the means for positive change in any organization; however, training is not enough to create lasting change without a vital link that will help your employees transfer what they learned into real-life application. That vital link is a strong coaching program" (Villegas & Villegas 2006). The intern must know that merit-based promotions are a realistic prospect for permanent employees, and that the company does not primarily solicit its management material from without, but mentors them from within.

Poor retention leads to tremendous losses of talent and ideas. No one wants to see a potentially talented young individual go to a competitor. Moreover, losing interns is a real financial loss. "Failing to retain a key employee is costly. Various estimates suggest that losing a middle manager costs an organization up to 100% of his salary. The loss of a senior executive is even more costly" (Heathfield 2008, p.1). A study of phasing interned nurses into the hospital's regular program found: "Retained nurse interns provide a higher percentage of independent productive work than do newly hired nurses who have or experience but must be oriented to the department's policies, procedures, and cultural norms" (Strauss 1991, p1). Losing interns is a loss in dollars and cents, especially when the two-year training 'phase in' program is factored into how much training costs the company.

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Furthermore, low retention is a potential red flag in general for a company: In "situations of rapid change only those [organizations] that are flexible, adaptive and productive will excel...organizations need to 'discover how to tap people's commitment and capacity to learn at all levels'" (Smith 2001).

Training and mentoring cannot end with the internship. In fact, feeling as if one is learning and growing after the internship is over is perhaps the most vital component of retention. "There is a direct link between training and employee retention. Employees involved in ongoing training feel that their employer is interested in them doing a better job, and the employer cares enough about them to make an investment in their development" (Villegas & Villegas 2006). Wooing back high-potential people is a savings in terms of training, but training must also become a part of every employee's experience at the company.

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