Why You Should Pay Your Interns

Written by Tricia Louise

Remember what it was like to be a college student? While I juggled classes, papers, and deadlines, I feared I would not find a job once I graduated. That’s why I balanced my schoolwork with two unpaid internships and four part-time jobs. It was tough, but my situation seemed like the norm. Since then, the legal climate has changed and unpaid intern lawsuits are on the rise. In March 2015, Viacom agreed to pay $7.2 million to more than 1,000 former interns who filed suit against Viacom’s violation of state and federal wage laws.

I recently had the privilege of managing two very high-quality, paid interns and experienced their value firsthand. If the rising cost of higher education is not reason enough to pay your interns, here are three more:

• Paid Internships Attract Better Candidates.
  • More interns will apply for a paid internship, thus allowing you to pick and choose the best fit for the position.
  • Paid interns are more likely to stay with the company for a longer period of time, translating to more knowledgeable, better skilled and more loyal employees.
  • A large amount of students simply may not be able to afford to take an unpaid internship. This leaves out many smart and talented students from low-income backgrounds.

• Paid Internships Reduce Your Risk for Litigation.
  • Legal experts say the unpaid intern lawsuit trend is likely to expand and other industries that implement similar policies should take note.

• Interns Provide Value.
  • At many companies, interns perform the work that an entry-level employee may otherwise do. Those tasks and responsibilities may or may not be significant, but they do provide value for the company and should be compensated appropriately.

Keep in mind that a paid intern is a happy intern. When you invest in your staff, they invest more of their time and attention in your business. They learn more and you receive more value in return. At the end of the day, you get what you pay for.