提供实习机会可以创造双赢局面

'An internship program is an inexpensive way to try someone out,' says James J. Holtzman, a fee-only financial planner with Legend Financial Advisors Inc. in Pittsburgh, which has an ongoing paid-internship program.

Hiring permanent staff can be costlier and riskier right now because the uncertain economic environment makes it harder to forecast future cash flow. 'A business owner might want to hedge their overall expenses by employing lower-cost labor, such as interns,' says Laura Mattia, a fee-only financial planner with Baron Financial Group LLC in Fair Lawn, N.J.

Setting up an internship program doesn't require a large investment of time or money. To get the best results, business owners need to find appropriate candidates and screen them to make sure they have the skills needed to get the jobs they want done. Once hired, providing regular feedback is important as it should be a learning experience for the intern. Offering to act as an advocate in support of an intern's career search is another selling point.

'You need to create a win-win,' says Michael Franz, director of the Washington Small Business Development Center at Washington State University.

First, a business needs to identify local schools and colleges that have students with desirable skills. By contacting schools' career centers, business owners can gain insight into students' schedules and the amount of time they can reasonably devote to an internship. For example, an intern may be able to work 10 hours a week while classes are in session and work 30 hours a week during breaks. If arrangements are made with schools in advance, students may be able to receive academic credits.

Business owners should write up a clear description of duties the intern will be expected to perform, desirable qualifications, the required time commitment and whom to contact. 'Most schools have job fairs in the spring or fall semester, so consider sponsoring a table,' says Holtzman. Business owners who want to cast the net wider can post ads on Web sites like Craiglist.com and idealist.org.

Businesses can offer unpaid internships if the on-the-job training predominantly benefits the student and furthers their education. However, to avoid falling afoul of federal labor laws, if interns are performing tasks that bring in business, experts recommend entrepreneurs compensate interns at an hourly rate that is at least equivalent to the applicable state minimum wage or offer a stipend that covers meals, living and travel expenses.

Businesses also need to provide workers' compensation insurance and comply with all laws requiring withholding and payment of payroll taxes. It can also be prudent to require interns to sign a confidentiality agreement.