How to Calculate Intern to Full-Time Conversion Rate
To calculate the conversion rate for your interns (or co-op students), determine the number of eligible* interns and the number of offers that have been accepted by eligible interns. (*For these purposes, an eligible intern is one who is graduating and is pursuing career opportunities. Interns who are still in school are not considered eligible. Similarly, interns who have decided to pursue further education are not considered eligible.)
Divide the number of acceptances by the number of eligible interns, and multiply by 100. This gives you your conversion rate.
Example: 20 acceptances/50 eligible interns = 0.4
0.4 x 100 = 40% conversion rate
1. Number of eligible interns = ____________
2. Number of accepted offers =____________
3. (Number of accepted offers) ____________/ (Number of eligible interns) =
4. Multiply your answer to #3 by 100: ___________ x 100 = ____________ percent conversion rate
Using Your Conversion Rate
Your conversion rate can help you determine how effective your internship program is as a recruiting tool. As a rule of thumb, if you are using your internship program as a recruiting tool, your goal should be to convert at least 50 percent of your eligible interns to full-time hires. If your conversion rate falls below that, you may want to examine your program to determine how to improve that rate. You will want to look at other relevant metrics for your program to help you identify where problems may exist. For example, perhaps you are only making offers to half of your eligible interns, which, in turn, drives down your conversion rate. In such a case, you may need to look at why only half of your eligible interns are receiving offers.
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