Is the future of internships virtual? Data reveals more businesses investing in interns

- Vacancies down 11% week-on-week at the end of May
- Opportunities for internships increase
- The number of people applying for contract and temporary roles is up year-on-year, while fewer candidates are seeking permanent positions
- Communications, marketing and PR vacancies make up over half (55%) of all new vacancies added during the last week of May

Vacancies dipped 11% across the UK during the last week of May as the on-going pandemic continues to impact job opportunities. Despite this, however, opportunities for internships increased as employers look to future proof their businesses. That’s according to the latest real-time statistics from the world’s largest network of job boards, Broadbean Technology.



Businesses investing in the future



According to the data, internship and graduate opportunities saw a 30% increase ahead of the summer season. This is indicative of more employers implementing virtual internships to combat lockdown restrictions, with firms across financial services – including Credit Suisse, Deutsche, Goldman Sachs, JPMorgan, Morgan Stanley and UBS – announcing the launch of online schemes.



The data also reveals that jobs in communications, marketing and PR are performing well, up 37% week-on-week at the end of May as businesses ramp up stakeholder and consumer engagement in light of the Prime Minister’s phased re-opening plans. Vacancies in this field made up over half (55%) of new jobs added during the week ending 31st May, indicating that those businesses still hiring are focusing investment on increasing brand awareness.



Applications for contract roles on the up



Broadbean Technology’s data also reveals that the number of applications per vacancy had increased 34% for temporary and 25% for contract positions when compared to the same time last year. In contrast, the number of candidates applying for permanent roles was down 5% year-on-year, which is perhaps indicative of the current sentiment of the UK workforce, with people reluctant to change jobs during the on-going uncertainty and instead choosing to remain with their current employer until the dust settles.



Alex Fourlis, Managing Director at Broadbean Technology commented



“Despite the on-going economic crisis, it’s encouraging to see businesses still investing in future talent through virtual internships as it will be these individuals who will help companies succeed in the future when the impact of Covid-19 has lessened. The most interesting revelation in my view, is the uptick in applications for contract and temporary roles in comparison to those applying for permanent positions. We certainly didn’t expect to see a drop in people seeking permanent employment during the current crisis. With fewer permanent jobs being advertised, we’d usually see an uptick in the number of applications per role as less options are available for jobseekers. This suggests that the furlough scheme is providing some sense of security for employees across the UK, with many perhaps reluctant to risk a career change at this time. It could also be the case that the good weather and number of bank holidays in May led to fewer people applying for new roles, as these factors can often influence jobseekers.”



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