In today’s competitive job market, where skilled talent is increasingly hard to find, employers are adopting innovative approaches to meet their workforce needs. One such solution gaining traction is the implementation of returnship programs, also known as return-to-work programs.
A returnship is a work re-entry program designed to help individuals re-enter the workforce after a career break of at least 18 months.
These programs are gaining popularity across the U.S. as companies recognize the unique value of individuals who have taken an extended absence to raise families, provide care, or pursue other endeavors. As Boeing explains, “We value the diverse skills and experiences that can be gained away from the workforce.”
Other leading companies like IBM, JP Morgan Chase, and Goldman Sachs, also offer structured returnship programs featuring training, mentoring, and support to help professionals transition back into the workplace.
This article explores the concept of returnship programs, the candidates they attract, and how they benefit businesses. By the end, you’ll see why returnships are more than a trend – they’re a strategic tool in the intensifying race for talent.
What is a Returnship Program?
A returnship is a professional internship designed for individuals who have taken a significant career break, often for personal reasons like caregiving, health issues, or other life circumstances.
Typically lasting three to six months, these programs offer participants an opportunity to:
- Refresh their skills.
- Gain current industry experience.
- Reintegrate into the workforce through structured training and mentorship.
Returnship programs are particularly popular in sectors like finance, technology, and professional services, where rapidly changing skill requirements can make it difficult for individuals to re-enter the workforce without support.
Who are Returnship Candidates?
Returnship programs attract a diverse range of candidates, particularly those who have been out of the workforce for at least 18 months. Research by PwC found that 427,000 UK women with professional backgrounds are currently on career breaks and looking to return to work.
While many programs focus on women due to maternity or caregiving breaks, men are increasingly participating as well.
Participants range in age, but many are mid-career professionals in their 30s, 40s, and 50s. However, returnships also appeal to younger individuals who may have taken time off for health reasons, travel, or personal projects.
Why Are Returnships a Good Idea for Your Business?
Access to a Highly Skilled Talent Pool
Unlike recent graduates, returnship candidates often bring years of professional experience. Employers gain access to a motivated and seasoned talent pool, ready to address the workforce shortage highlighted by the U.S. Chamber of Commerce.
Enhancing Diversity and Inclusion
Return-to-work programs significantly enhance diversity, especially by supporting women returning from caregiving breaks. According to a McKinsey study, companies with greater gender diversity in leadership are 25% more likely to achieve above-average profitability.
Bridging the Skills Gap
Seventy percent of U.S. business leaders report a skills gap negatively affecting performance (Springboard). Returnship programs help professionals refresh their skills in finance, engineering, IT, and more.
Improving Employee Retention
Offering returnships highlights your organization’s commitment to inclusion, which improves employee retention. In today’s market, diversity and inclusion are key to attracting top talent.
What Returners Bring to Your Business
- Fresh Perspectives: Returners provide unique insights and innovative problem-solving.
- Resilience and Leadership: They bring interpersonal, prioritization, and leadership skills developed during career breaks.
- Commitment to Growth: Returners are highly motivated, showcasing strong engagement and productivity.
Conclusion
Returnship programs are more than just a way to help individuals re-enter the workforce – they’re a strategic tool for addressing workforce challenges. They allow businesses to:
- Tap into a skilled and motivated talent pool.
- Enhance diversity and inclusion.
- Bridge critical skills gaps.
By embracing return-to-work programs, your organization can build a more inclusive, innovative, and dynamic workforce – benefiting both your business and returnship candidates.
Looking to learn more about implementing a returnship program? Explore our resources or contact us today to bring talented returners into your workforce.