{"id":269,"date":"2023-06-29T14:49:40","date_gmt":"2023-06-29T21:49:40","guid":{"rendered":"https:\/\/www.workmorphis.com\/resources\/?p=269"},"modified":"2023-06-29T16:46:17","modified_gmt":"2023-06-29T23:46:17","slug":"returnships-the-secret-to-attracting-hard-to-reach-talent","status":"publish","type":"post","link":"https:\/\/www.workmorphis.com\/resources\/returnships-the-secret-to-attracting-hard-to-reach-talent","title":{"rendered":"Returnships: The Secret to Attracting Hard-to-Reach Talent"},"content":{"rendered":"\n

If you blinked, you might have missed it. <\/p>\n\n\n\n

The SHEcession<\/a>\u2014a clever moniker given to the pandemic-induced exodus of women from the workforce\u2014has more than reversed course in 2023. A fact sheet<\/a> published by the Center for American Progress in February revealed not only that \u201cwomen\u2019s employment has … recovered to pre-pandemic levels,\u201d but women\u2019s labor force participation is at an all-time high. Despite this remarkable rebound, many companies continue to face challenges in recruiting and retaining women. One emerging approach to address this dilemma is the returnship<\/strong>.<\/p>\n\n\n\n

Returnships<\/strong> \u2013 A Primer<\/strong><\/p>\n\n\n\n

A combination of \u201creturn\u201d and \u201cinternship,\u201d\u00a0returnships\u00a0are\u00a0just\u00a0that\u2014internships\u00a0designed\u00a0for individuals returning to the workforce. Like internships,\u00a0returnship programs typically run for a specified\u00a0period of time. This can range from as few as 10 or\u00a012 weeks, up to\u00a0six\u00a0months or longer depending on business needs. The best programs serve as\u00a0valuable\u00a0transitionary periods\u00a0of professional development\u00a0for individuals who are beginning their reentrance to the workforce after an extended period away.\u00a0Returnships\u00a0can help facilitate this transition by promoting a sense of community and support\u00a0among participants\u00a0as they learn and develop job-specific skills. Finally,\u00a0returnships\u00a0are typically part of a pathway that optimally culminates in participants joining the company full-time upon the program\u2019s completion.<\/p>\n\n\n\n

The benefits of a well-designed returnship program are not exclusive to the participants. Employers who host returnships can expect to receive interest from portions of the talent pool that are often difficult to recruit from. As such, these programs can be a valuable way to support DEI hiring goals. Additionally, these programs provide employers with the ability to assess participants\u2019 skills before making a full-time hire.<\/p>\n\n\n\n

Successes in the Field<\/strong><\/p>\n\n\n\n

In the wake of the 2008 financial crisis, Goldman Sachs<\/a> debuted a first-of-its-kind returnship program, designed for returning professionals who have been away from the workforce for two or more years. As the program gears up for its 15th<\/sup> cohort this year, the bank receives upwards of 1000 annual applicants. Of those selected to participate, 75% typically earn full-time offers upon the completion of their returnship. Returnshipgraduates have gone on to play integral roles in the business, with one returning professional even achieving the position of managing director. Goldman Sachs isn\u2019t the only bank with a returnships success story, however! Wells Fargo<\/a>, another industry giant, received such strong interest in their returnship program\u2019s inaugural session that the company tripled the program\u2019s size within its first three years.<\/p>\n\n\n\n

In the tech sector, companies including LinkedIn<\/a> and Microsoft<\/a> have instituted returnship programs as a part of their broader strategy of recruiting talent with non-traditional backgrounds. \u201cAt Microsoft,\u201d the company\u2019s Leap program page reads, \u201cwe know there are many pathways into the technology industry and into our organization. <\/a>We\u2019re constantly looking for new ways to create unconventional entry points for talent and leverage the skills and experiences of talent from outside the traditional academic paths.\u201d Their immersive, 16-week program combines classroom and hands-on learning to do just that. Similarly, LinkedIn\u2019s REACH program targets those with \u201cnon-traditional backgrounds\u201d looking to \u201cbegin or continue their technical career.\u201d Billed as a \u201ctechnical apprenticeship program,” REACH participants have included individuals who:<\/p>\n\n\n\n