Our Indiana INTERNnet program has been touting "returnships" the last several years. The benefits are plentiful for both employers and those seeking to re-enter the workforce.
Check out some analysis below from the Challenger Gray & Christmas outplacement and consulting firm:
“Employers are consistently wary of employment gaps brought on by a layoff, parenthood, or some other life event that prohibits working. A ‘returnship’ for former or transitioning professionals with otherwise sterling employment records, but prolonged unemployment, solves this issue,” said John A. Challenger, chief executive officer of global outplacement and business coaching consultancy Challenger, Gray & Christmas, Inc.
“Candidates, such as returning mothers or retirees, who have been out of work for six months or longer are perceived as having outdated skills. As a result, they are often screened out early in the recruiting process. A ‘returnship’ on a resume shows the employer that the candidates are willing to learn, have updated training and recent on-the-job experience, making them much more marketable,” said Challenger.
“The benefit to companies, unlike with entry-level interns, is that returnees can be assigned more complicated projects depending on their previous industry experience and set of skills.”
According to an article in the Harvard Business Review, Goldman Sachs offered an 8 week paid “returnship” for non-client facing departments in 2008. The effort resulted in 6 hirings from the 11 attendees. Since then, the program has grown to include positions nationwide and helped 120 individuals return to the workforce, according the company’s 2011 Environmental, Social and Governance Report. Moreover, those enrolled took on advanced tasks, such as developing training programs or creating mechanisms for client confidentiality.
“Companies would be wise to invest in ‘returnship’ programs in order to find and develop the right talent for their organization, which does not always mean the youngest or most malleable. Older professionals, returning mothers, and veterans already have the on-the-job experience most internships are created to impart on college-aged job seekers,” said Challenger.
“Professionals interested in pursuing this sort of opportunity should not sit back and wait for a company to develop a ‘returnship’ program. Request meetings with high-level executives at companies that interest you and suggest starting such a program yourself. If you can convince one company of the benefits, others may follow suit.
“Professionals should treat the process as a constant interview. Take initiative, show how you can benefit the company, befriend those who are already employed with the organization, always be on time and professional, and seek feedback,” offered Challenger.
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Who Benefits From “Returnships?”
The Returning Parent – Mothers and fathers who have left the job market to raise a family often return to biased employers who are wary of their skill sets and absence from the workforce.
Transitioning Military – Former military have extensive on-the-job training in new technology, leadership development, and discipline, but lack experience with corporate culture a “returnship” would offer.
Older Workers – Older professionals have to deal with age discrimination, as well as potential gaps in employment.
Expatriates – Workers going to other countries for employment would gain necessary and helpful experience in another culture.
Long-term Unemployed – Whatever the reason for the employment gap, a “returnship” would revitalize a resume.
Employers – Recruiting interns who already have extensive on-the-job experience is valuable for any employer, as these professionals are ready to hit the ground running and take on meatier tasks.