Student interns: Pay or not to pay?
More companies in Singapore hire students as interns compared to the situation in Japan.
The period of internship interns depends on the students' speciality. Local universities and polytechnic schools give credits to students if they finish their internships successfully.
Today, let me ask you how the payment for student interns should be? Although they boost a company's manpower, they are, being students, less experienced and less skilled than full-time employees.
A global online trading company, Banc De Binary has been successful with its paid internship program, encouraging other businesses to follow suit.
Banc De Binary hosted several paid interns in its New York and Cyprus offices over the summer holidays. The interns brought with a fresh perspective which the company valued.
Says Mr. Oren Laurent, CEO of Banc De Binary: "Businesses have a responsibility and a need to nurture talent. Finance and high-tech are rapidly growing industries. To maintain their momentum of growth, we need to be constantly investing in the next generation."
He adds: "At Banc De Binary, we want to attract the very best students, not just those whose parents can afford to support them. It is vital for the future of the financial sector that other companies do the same."
Inspired by the success of the initiative, Banc De Binary plans to make the program a permanent fixture and will offer positions over summer and Christmas university holidays. Internships are open to students taking finance, IT, and marketing-related degrees.
How about student interns in your company? It would be beneficial to the students themselves as well as an opportunity for companies to draw out the potential of students.