"I had a terrible education.
I attended a school for emotionally disturbed teachers."
~ Woody Allen

Russ Gaitskill, President of Garnet Hill, a Cornerstone Brands Company located in the beautiful, but remote White Mountains of New Hampshire, has had a successful college internship program for over 6 years. They hire 7 to 10 summer interns and 2 or 3 during the year. "A number of those interns are now working for us full time and are doing a solid job in merchandising, marketing and creative," Russ told me.

Internships opportunities at Garnet Hill are paid, last 6-16 weeks, and are advertised on Garnet Hill's website, as well as in local newspapers. They're also promoted through relationships the company has with local and area colleges and universities and referrals from other students.

"Our priority is kids who are from the area. Interns are from universities in Vermont, Massachusetts, New Hampshire, as well as schools like Parsons in New York, and the Rhode School of Design (RISD)." "And I get to interview them all," Gaitskill says.

Steve Rothberg, CEO of CollegeRecruiter.com, in an article in Workforce Management Online, is quoted as saying that many companies who don't yet understand the strategic value that Gen Yers play in the labor force could suffer talent shortages in the future. This group of individuals is a critical source of workforce inventory—the batch of interns recruited this season can be harvested for entry-level positions next year.

"Companies need to think of interns not only as a source of educated yet inexpensive labor, but also as the next wave of leaders," Rothberg says. There are about 4 million U.S. college students, of whom 1.5 million to 1.75 million are in their junior or senior year—the prime years for internship recruitment.

The desired conversion rate from internships to full-time hires is 50 percent, according to the National Association of Colleges and Employers, a Bethlehem, Pennsylvania-based information resource organization on the employment of the college-educated. In 2004, NACE members reported a 45 percent conversion rate and a 35 percent rate in 2005.

Reaching Gen Yers and generating buzz

The good news is that there are far more students available than the number of internship openings. The bad news, however, is that the batch of high-potential candidates—those who rank high in their class or attend a brand-name college—is small, and the competition for them is fierce.

"The medium is the message and if you don't use the appropriate tools to reach this finicky audience you could be in for some big trouble," adds Brian Krueger, president of CollegeGrad.com, in the same article in Workforce Management Online.

"Students will be hesitant to work for a company that they think is out of sync with them or with the times," he says. Employers that have a weak Internet presence are particularly susceptible to being overlooked or, even worse, snubbed by this segment.

A recent survey from CollegeGrad.com underscores just how important the Internet is for students looking to get their first job. The report, which polled 500 respondents, highlights that the Internet is by far the most widely used job search tool. Some 60 percent of the respondents say it was the best source to get information on entry-level jobs.

Job fairs ranked second, with almost 20 percent of survey participants noting it was the best source for finding out career information. College career centers and classmates ranked third and fourth, respectively.

Creating a positive experience

Recruiting qualified talent is just one part of the equation in creating a successful internship program. "If you're going to recruit at the same colleges next spring, you better make sure that the interns this year have a positive experience," says workforce consultant and author Sylvia Henderson, in the same article.

"Word will spread around campus about the type of employer that you are—good or bad." So apply the same sound workforce management practices that full-time employees receive.

"Put yourself in their shoes," she says. "Treat them the way you would like to be treated." Give interns responsibilities that are meaningful. Fetching coffee and making copies won't be yielding a satisfactory experience. And be prepared to offer interns constructive feedback, both positive and negative.

Don't wait until the last minute

If you wait to start looking at students until they are in their senior or junior year of college, you may have already missed the boat. Many innovative employers begin establishing relationships with Gen Yers years before they even set foot on a college campus, and will have the upper hand when it comes to attracting them.

You can avoid having to play catch-up by being proactive and targeting students early on.

Target specific areas of study in high schools that appeal to you—like math, science, or English. Check out the various clubs and special interest groups. Organizations such as the Boy and Girl Scouts are also good starting points.

You can provide training or volunteer services within those institutions. You can also send a speaker or supply print materials, such as pamphlets, that provide tips on professionalism, dress code, business ethics, etc. "It doesn't cost much, and you can get a lot in return," Henderson says. "And you'll be at the forefront of their minds when they look for their first internship or job."

What is emerging as the single most important aspect of the success of any local or global enterprise is the need for a large employee and executive pool. So what's needed to drive your business forward is to attract, develop, and retain the highest quality talent. To find it, you just might have to go back to school.

If you would you like to comment about this article, or have ideas about future articles please email me at les@execsearchintl.com.

Executive Search International is a nationally recognized boutique firm providing best practice search and recruiting services for client organizations, ranging from multinational corporations to small entrepreneurial businesses.

Les Gore, founder and managing partner, is an over 20-year veteran of the "recruiting wars," and has been called "The Dean of Direct Marketing Executive Recruiters."