Verizon’s summer internship program has set a new record this year, receiving an unprecedented 49,000 applications from undergraduate students. This surge in interest reflects a broader shift in recruitment strategies, where companies are now targeting not just rising juniors and seniors but also sophomores due to a nationwide talent shortage.
This approach helps build a robust pipeline of future employees, addressing the competitive job market and ensuring a steady influx of skilled candidates.
The selection process for Verizon’s internship is exceptionally rigorous, with only 1% of applicants being chosen—a rate even lower than that of many Ivy League institutions. Steve West, Verizon’s head of global talent acquisition, highlights the fierce competition among students, with some applying to over 100 internships.
This intense competition underscores the need for companies to develop effective strategies for attracting and retaining top talent amidst a crowded field of opportunities.
Verizon’s Summer Internship Program Breaks Records with 49,000 Applications, Showcasing Rigorous Selection and Strong Retention Strategies
Under the leadership of CHRO Sam Hammock, Verizon’s internship program offers a comprehensive experience that includes group projects, direct access to senior leaders, and exposure to various business units.
Interns gain practical skills and insights into the company’s operations, with placements across technology, finance, sales, supply chain, and HR sectors. The program collaborates with 24 partner schools, from which 50% of the interns are hired, reflecting a strategic focus on building relationships with key educational institutions.
One notable feature of Verizon’s internship program is its emphasis on retaining talent, with 17% of interns returning from the previous year. The company maintains engagement with former interns through various activities, such as National Intern Day and events showcasing Verizon’s technology.
This strategy, referred to by Steve West as a “funnel of engagement,” helps strengthen relationships and improve the likelihood of converting interns into full-time employees, achieving an overall conversion rate of 85%.
Verizon distinguishes itself with a robust benefits package available from the start of the internship, including a new 401k matching program for student loan payments introduced by the SECURE 2.0 Retirement Savings Act.
This comprehensive approach to benefits, along with a focus on mental health and financial security, has contributed to the program’s growing appeal. Feedback from this year’s cohort, with 98% reporting a positive experience and 99% expressing interest in returning, underscores the success of Verizon’s internship strategy and its potential for future growth.
