With Fortune 1000 companies increasingly adopting remote and flexible work arrangements, Externships are becoming a popular choice for students seeking valuable work experience. Paragon One's Externship program is at the forefront of this change, offering students unparalleled access to real-world projects and mentorship from top companies. 

The Traditional Fortune 1000 Internship

The current Fortune 1000 internship model isn’t meeting the standards of a 21st century workforce. Many internships do not help interns develop the skills necessary to succeed in today's dynamic job market. With a lack of mentorship opportunities and transferable skills, many students leave their internships without adequate career readiness skills. 

Additionally, the traditional hierarchical structure of many large corporations can hinder innovation and creativity, leaving interns feeling disengaged and unfulfilled.

The lack of diversity and inclusivity in various internship programs can limit the perspectives and experiences of interns, leading to a less well-rounded workforce. In order to stay competitive in today's global economy, companies need to modernize their internship programs by offering meaningful work experiences, fostering a culture of innovation, and prioritizing diversity and inclusivity.

How is the Externship Different From the Traditional Fortune 1000 Internship?

NACE Aligned

‍The Paragon One Externship extends beyond what a traditional internship can provide their students, meeting all the National Association of Colleges and Employers (NACE) standards for a high-quality internship program. 

1. “A learning experience” / “extension of the classroom” 
2. "Skills are transferable to employment setting”
3. “Program has a defined beginning and end”
4. “Clearly defined learning objectives -> professional goals”
5. “Supervision by a professional with expertise”
6. “Routine feedback by experienced supervisor” 
7. “Resources provided by host support learning objectives”

Externs Develop NACE Aligned Career-Readiness Skills at, and beyond, “Intern” Levels

The Externship is a Scalable Internship

Career readiness

Through the Externship, students have the opportunity to work on real-world projects alongside experienced professionals in their respective fields. This hands-on experience helps individuals develop important skills such as teamwork, communication, problem-solving, and adaptability. Additionally, participants receive personalized coaching and mentorship from industry experts, allowing them to gain valuable insights into the skills and qualities needed to succeed in their chosen field. 

Flexibility

‍One of the most significant advantages of Paragon One's Externships is their flexibility. Unlike traditional internships that often require students to relocate or work full-time during the summer, Externships offer more adaptable schedules and can be completed remotely. This flexibility allows students to balance their work, school, and personal commitments more effectively, making it an attractive option for those who may not have been able to participate in traditional internships.

Accessibility

‍With the remote nature of Externships, students from all over the world can access opportunities with Fortune 1000 companies without the need for relocation. This levels the playing field for students from underserved communities or those with limited resources, who may have faced barriers to entry in traditional internships.

Real-world projects and skill development

‍Paragon One's Externship program emphasizes hands-on experience with actual company projects, allowing students to develop practical skills that can be applied in their future careers. This focus on real-world problem-solving gives externs an edge over traditional interns, who may have spent their time on more administrative tasks or shadowing employees. This includes interviewing skills, project and time management, and other career readiness competencies. 

Networking and mentorship

‍Externs in the Paragon One program have the opportunity to network with professionals from top companies and receive valuable mentorship. This access to industry experts can be vital in building connections and gaining insights into various career paths, providing externs with a competitive advantage over traditional interns.

Cost-effective for companies

Externships can be a more cost-effective way for companies to identify and cultivate talent. By offering remote, flexible opportunities, companies can attract a broader pool of applicants, resulting in a more diverse and skilled group of potential future employees. In addition, the virtual nature of Externships can reduce overhead costs associated with office space and other resources required for traditional internships.

Continuous learning and development‍

With the project-based nature of Externships, students are constantly learning and adapting to new challenges. This focus on continuous development can help students build resilience and problem-solving skills that are highly valued in the workplace. In contrast, traditional internships may not offer the same level of consistent growth and learning opportunities.

Inclusion and diversity

‍The accessibility and flexibility of Paragon One's Externship program can help Fortune 1000 companies increase diversity and inclusion in their workforce. By removing barriers such as relocation or rigid schedules, Externships can attract a more diverse pool of applicants, leading to a more inclusive and dynamic workplace. Externships also allow companies to invest in their future DEI recruiting efforts via a "long-term diverse pipeline approach.” As recruiting budgets tighten and early-career hiring slows, collaborating with, and building relationships with top talent earlier in their collegiate career gives companies a pool of candidates for 1 to 3 years down the road.  This ensures a company is prepared as hiring plans normalize in the future.

The shift from traditional internships to Externships marks a significant change in how students and Fortune 1000 companies approach work experience and talent development.

Paragon One's Externship program offers numerous advantages over traditional internships, such as flexibility, accessibility, real-world projects, networking opportunities, and cost-effectiveness.

By embracing the Externship model, Fortune 1000 companies can tap into a more diverse talent pool, cultivate future employees, and contribute to a more equitable and inclusive workforce. As the world of work continues to evolve, Externships are poised to become an increasingly popular and effective alternative to traditional internships, benefiting both students and organizations alike. By prioritizing flexibility, accessibility, and real-world experience, Paragon One's Externship program is paving the way for a more inclusive, diverse, and skilled workforce, ready to tackle the challenges of the future.

Explore the Next Era of Fortune 1000 Internships

Discover how your internship program could be supported or transformed with the Paragon One Externship.

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1. “A learning experience” / “extension of the classroom” 
2. "Skills are transferable to employment setting”
3. “Program has a defined beginning and end”
4. “Clearly defined learning objectives -> professional goals”
5. “Supervision by a professional with expertise”
6. “Routine feedback by experienced supervisor” 
7. “Resources provided by host support learning objectives”