In an increasingly competitive workforce, job seekers are going the extra mile to distinguish themselves from the competition. Similarly, employers are refining some of their prerequisites in order to establish a more polished, well-experienced staff. For example, nearly one-third of business owners today have increased their educational requirements for workers, both current and prospective, according to a recent poll conducted by Careerbuilder.
But there’s another employment program that satisfies the needs of both parties: the internship. An internship is a winning program because it serves aspiring employees’ interests by providing them with added experience, while at the same time benefiting business owners by offering an extra set of hands. In short, when implemented properly, it’s very low risk, high reward.
At the same time, though, internships can wind up costing companies their reputations – and then some – if they aren’t effectively monitored or are implemented in a haphazard fashion. If you’re a business owner, the following are a few tips to keep in mind so that the internship program you establish will be a positive experience for everyone involved.
Figure out proper compensation
Generally speaking, internships tend to be low paying because they’re inherently temporary positions and the job functions are usually confined. Some internships don’t pay at all, as the experience alone can act as compensation. However, if you decide to pay your interns, make sure it’s within the bounds of state labor laws. As detailed by the U.S. Department of Labor, an unpaid internship has to satisfy several requirements for it to be considered legally allowable. For instance, regular employees can’t be displaced by an incoming intern and the advantages of the position have to be primarily geared toward the intern rather than the company. The Labor Department has a few other compliance prerequisites listed on its website.
Develop social media policy
Millions of people use social media on a regular basis, and there’s a good chance your incoming intern is one of them. Keep in mind, though, that your company may be held responsible for any posts he or she makes that damage the reputation of another party, including fellow employees. Maintain and update some rules of conduct that detail what types of posts are out of bounds and will not be tolerated. The Equal Employment Opportunity Commission offers some additional guidance.
Get everything in writing
The best way to make sure everything is above board comes from putting pen to paper, where you lay out what your internship program aims to accomplish and what your intern’s responsibilities will include. But to ensure that you satisfy all the regulatory requirements, consider consulting with an expert in human resources or employment staffing. They may also be able to help you with other employment designations, like the difference between an independent contractor and subcontractor.
Employment practices liability coverage is an essential component to your business’ long-term viability in the event of a lawsuit. For details on what this policy includes and how it can protect your bottom line due to a scenario you may be held responsible for, speak with RC4 Insurance Agency, LLC today.
Article From Selective Insurance Company
