Before listing the pros in terms of business gains that can be made from paying interns, we wanted to stipulate that we pay our interns simply because we believe that it is the correct thing to do. Our view is that people should be paid for their contribution - no matter how small it might seem. However, if this perspective alone isn’t enough to convince you, there are other gains to be made.
You widen your search pool
Unpaid internships mean you’re limiting your intern pool to people who can afford to work for free. This means that only candidates who are fortunate enough to have people in their life who can support them financially, pay for their housing and pay for any other incurred expenses, will be able to do the job. This issue is especially prevalent in London where the cost of living is tricky to navigate even with a full-time wage. It’s essentially limiting your opportunity to middle-upper class people, leaving many bright minds unable to apply. In short - unpaid internships are a barrier to social mobility.
2. Paid interns are happy interns
Not only is paying interns good because it’s nice to be nice, it will also foster a positive working environment for all your colleagues. Paid interns are happy, and therefore more likely to turn up, work hard, and positively contribute to the business and the working environment. You cannot sustain a prolonged period of employment on just enthusiasm alone - nor can you pay your rent with it. Having money in your pocket ultimately makes life easier, and so your intern will be able to perform better. Being rewarded financially for hard work is also a confidence boost, empowering your intern and helping them make the scary jump into the working world in a positive way.
3. Not paying your interns could be breaking the law
If you’re still not convinced - there are rules in place that stipulate if you do or don’t need to pay your intern. If you don’t adhere to these rules, you’re breaking the law.