Internships are symbiotic relations between students and organizations. The norm is for students to receive training rather than compensation in lieu of services provided to the organization. My blog is based on how two of the Big 4 Global Auditing, Tax and Advisory Organization’s Internship program is changing the face of education. Their structured Internship programs grow and develop their future employees. I was fortunate to have worked for KPMG directly with the Internship program therefore the information I will share is first hand with links to both KPMG and Deloitte websites.
New Insights: These global giants realized even though they are attracting quality talent from universities, the graduates were lacking the business and soft skills required to function effectively in the global marketplace. KPMG Business School and Deloitte University came into being to bridge the gap between student and working life. They embraced a holistic approach to Internships which includes technical and industry specific training to performance managers, continuous assessments, on-going performance reviews and mentors. The Interns are also sent on work assignments with seniors, supervisors and managers to guide their learning. This teaches them to transfer and apply their theoretical knowledge, gain professional skills and proper work etiquette. The training they receive is of global standards meaning any of their Interns can walk into their respective organizations anywhere in the world and be comfortable with the global methodologies or working papers. They are groomed and developed to reach a level where the organization feels confident to retain the top performers on a permanent capacity for leadership roles. All Interns whether retained by the organizations or not are equipped with a solid foundation to commence their working lives in Commerce and Industry.
Trends: It is essential for large organizations to keep abreast of their competitors to attract quality talent. To do this, they have to be aware of emerging trends in the global markets and the need to sustain marketability. Informal Educators such as KPMG and Deloitte have to keep on top of their game and are always looking for innovative methods to handle the challenges they face. Below are some of the initiatives that has worked for them:
Web Conference: My discussion with my learning partner was an interesting experience as she reflected on Internships from the perspective of the Higher Learning institutions and the need for these institutions to “provide good quality internships and work placements for adult learners” so that they can transition smoothly into the work world and they will have a better chance of obtaining work in this competitive job market.
New Insights: These global giants realized even though they are attracting quality talent from universities, the graduates were lacking the business and soft skills required to function effectively in the global marketplace. KPMG Business School and Deloitte University came into being to bridge the gap between student and working life. They embraced a holistic approach to Internships which includes technical and industry specific training to performance managers, continuous assessments, on-going performance reviews and mentors. The Interns are also sent on work assignments with seniors, supervisors and managers to guide their learning. This teaches them to transfer and apply their theoretical knowledge, gain professional skills and proper work etiquette. The training they receive is of global standards meaning any of their Interns can walk into their respective organizations anywhere in the world and be comfortable with the global methodologies or working papers. They are groomed and developed to reach a level where the organization feels confident to retain the top performers on a permanent capacity for leadership roles. All Interns whether retained by the organizations or not are equipped with a solid foundation to commence their working lives in Commerce and Industry.
Trends: It is essential for large organizations to keep abreast of their competitors to attract quality talent. To do this, they have to be aware of emerging trends in the global markets and the need to sustain marketability. Informal Educators such as KPMG and Deloitte have to keep on top of their game and are always looking for innovative methods to handle the challenges they face. Below are some of the initiatives that has worked for them:
- Global Markets created a need for Global Business Skills. Deloitte’s aptly named Global Internship Program aimed at developing global business skills as part of a virtual, cross border team experience where people from different cultures and countries can gain critical global business skills. Global Interns return to their home countries to share their knowledge and act as mentors to “pay it forward” thereby helping others to progress in their careers.
- Another trend organizations face is Government Initiatives like Nationalization. Educators of Interns find themselves in a position where training has to be tailor made to Fast Track historically disadvantaged Interns to equip them with the skills to be Leaders in a short space of time. In South Africa the Government Initiatives such as “Affirmative Action” and “Employment Equity” has forced organizations like KPMG and Deloitte to revisit their training and education strategy to cater to the needs of Nationalization. In Qatar there is a growing demand for Qataris to assume leadership roles. To meet this demand, organizations find themselves having to recruit qualified expatriates who can pass on valuable training and education to Qatari understudies to prepare them for Leadership roles.
Web Conference: My discussion with my learning partner was an interesting experience as she reflected on Internships from the perspective of the Higher Learning institutions and the need for these institutions to “provide good quality internships and work placements for adult learners” so that they can transition smoothly into the work world and they will have a better chance of obtaining work in this competitive job market.