Joining Returnship Programs in 2023 Might Be the Best Decision You'll Make

In this modern post-covid era, returnship programs are becoming increasingly important for organizations and can have a significant impact on individuals looking to re-enter the workforce after a career break. This article will cover the concept of returnship programs in 2023, the companies offering returnship programs, and some of the most frequently asked questions related to these initiatives that will help you ease your transition back into the workforce.

What Is a Returnship Program?

A returnship program is a form of internship or training program that is designed for individuals who have taken a break from their careers and are now looking to re-enter the workforce. These programs are usually offered by companies as a way to attract experienced professionals who have taken a break from their careers due to personal or family reasons. Returnship programs provide an opportunity for these individuals to update their skills, gain new knowledge, and re-establish their professional network.

Why are Returnship Programs Important in Today’s World?

The COVID-19 pandemic has resulted in labor fluctuations that are making it difficult for organizations to retain and attract top-tier talent. According to a report by the National Women’s Law Center in 2021, around 1.8 million women and 1.75 million men have exited the labor force since February 2020, illustrating the magnitude of the pandemic's impact.

An increasing number of professionals are reassessing their work-life balance and opting to take breaks from their careers. Research by ManpowerGroup UK in 2016 indicates that millennials are more likely than previous generations to take time off from work to prioritize childcare, eldercare, health, relocation, and other personal obligations.

On the other hand, organizations that prioritize diversity are taking decisive actions in their business strategies to enhance inclusivity and cultivate a culture centered around people. In the wake of the pandemic, companies may need to embrace novel approaches to attract and involve a more diverse pool of talent.

Are Returnship Programs Worth It?

Returnship programs can be an excellent way for individuals to re-enter the workforce after a career break. These programs provide a structured environment that allows individuals to update their skills, gain new knowledge, and re-establish their professional network. Additionally, returnship programs can lead to a job offer at the end of the program, which can be a great way to jumpstart your career after a break.

However, it's important to note that not all returnship programs are created equal. Some programs may not provide adequate training or may not lead to a job offer at the end of the program. Before applying to a returnship program, it's important to research the program thoroughly and determine if it's the right fit for your career goals.

What Are Returnship Requirements?

The requirements for a returnship program can vary depending on the program and the company offering it. Generally, returnship programs require that applicants have previous work experience in a related field and have taken a break from their careers for a specified period (often two or more years). Additionally, applicants may be required to have a certain level of education or certification.

Some returnship programs in 2023 may also require that applicants have a specific skill set or experience in a particular area. For example, a returnship program in the tech industry may require that applicants have experience with coding or programming languages.

When considering applying for a returnship program, it is important to keep in mind several key factors:

1. Eligibility: Ensure that you meet the eligibility criteria for the returnship program. These programs are often designed for individuals who have taken a break from their career, but each program may have its own specific eligibility requirements.
2. Registration Timeline: Be aware of the registration timeline and deadlines for the returnship program. Some programs may only be offered during specific times of the year and have limited spaces available.
3. Participating Offices: Check which offices are participating in the returnship program. Some programs may only be available in specific locations or departments.
4. Program Period: Consider the length of the program period and make sure it aligns with your availability and commitments. Returnship programs can range from a few weeks to several months.

By keeping these factors in mind, you can ensure that you are applying to a returnship program that is the right fit for your needs and qualifications.

Are Returnships Paid?

Returnship programs are typically paid, although the compensation can vary depending on the program and the company offering it. Generally, returnship programs offer a salary or stipend that is commensurate with the applicant's experience and education level.

In addition to salary, returnship programs may also offer other benefits such as healthcare, retirement benefits, and paid time off. However, it's important to note that not all returnship programs offer the same level of compensation and benefits. Before applying to a returnship program, it's important to research the compensation and benefits package thoroughly to determine if it meets your needs.

What Is the Difference Between Internship and Returnship?

While both internships and returnships provide opportunities for individuals to gain work experience and develop their skills, there are some key differences between the two.

Internships are typically designed for students or recent graduates who are looking to gain work experience in a particular field. Internships are often unpaid or low-paid and are intended to provide individuals with an opportunity to gain work experience and build their resume.

Returnship programs, on the other hand, are designed with the working professional in mind, who already have some (or more) professional experience in the field that they've applied. Returnship programs tend to be paid, and serves to help adults ease back into the working world.

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Companies Offering Returnship Programs in 2023

Here are some of the top companies that offer returnship programs in 2023:

1. Goldman Sachs Americas ReturnshipGoldman Sachs offers a 12-week Returnship program designed for professionals who have taken a career break of two or more years. The program provides training, development opportunities, and networking events. Participants work on projects and have access to mentors to help them rebuild their careers. Successful candidates may receive full-time employment offers.
2. Amazon Returnship ProgramAmazon offers a 16-week returnship program for professionals who have taken a career break of at least 1 year. The program provides training, mentorship, and networking opportunities, and allows participants to work on projects. Successful participants may receive full-time job offers at the end of the program.
3. IBM Tech Re-entry ProgramIBM offers a 12-week returnship program designed for technical professionals who have taken a break of at least two years. The program provides them with the opportunity to update their skills, network with other professionals, and gain experience working on real projects. The program is presently available in the United States, Canada, India, China, UK, Germany, and Australia, and more countries are being included.
4. JPMorgan Chase ReEntry ProgramJPMorgan Chase offers a 15-week returnship program called the "ReEntry Program." The program is designed for experienced individuals who have taken a break of two or more years and provides them with the opportunity to refresh their skills, participate in professional development workshops, and work on real projects with JPMorgan Chase teams.
5. Dell Technologies ReStart ProgramDell Technologies offers a 16-week paid returnship program designed for professionals who have taken a career break of one or more years and provides them with the opportunity to refresh their skills, update their knowledge of the latest technologies, and work on real projects with Dell Technologies teams. There are full-time opportunities in STEM and Non-STEM Roles, and successful candidates will be able to challenge themselves with rewarding work at Dell.
6. HubSpot Returners ProgramHubSpot offers a 20-week Returners Program designed for professionals who have taken a career break of two or more years. Participants receive mentorship, training, and hands-on experience working on projects with teams. The program is offered in various locations globally and participants may be considered for full-time positions at the end of the program.
7. Accenture Technology Returnship ProgramAccenture offers a 16-week Technology Returnship Program for experienced tech-focused professionals. Participants will be trained in emerging technology like Cloud, AI, Intelligent Automation, DevOps, and Agile, as well as on-the-job shadowing on client assignments. The program will help returning professionals ease their transition back to work.

These are just a few examples of companies that offer returnship programs. Many other organizations also offer similar programs designed to help professionals return to the workforce after a break. We've categorised them according to their industries:

Here are 62 companies that offer returnships in 2023:

Technology Returnship Programs in 2023

1. Amazon - Amazon Returnship Program
2. Apple - Apple Return to Work Program
3. Cisco - Cisco Re-Entry Program
4. Dell - Dell Encore Program
5. Facebook - Facebook Return to Work Program
6. FlexJobs - FlexJobs Returnship Program
7. Google - Google Return to Work
8. Hewlett Packard Enterprise - HPE Reboot Program
9. HubSpot - HubSpot Returners Program
10. IBM - IBM Tech Re-Entry Program
11. Intel - Intel Encore Career Program
12. Microsoft - Microsoft LEAP Program
13. PayPal - PayPal Recharge Program
14. SAP - SAP Returnship Program
15. Tesla - Tesla Recharge Program
16. VMWare - VMWare Career Restart Program

Finance Returnship Programs in 2023

1. American Express - American Express Re-Entry Program
2. Bank of America - Bank of America Returning Talent Program
3. BlackRock - BlackRock Return to Work Program
4. Bloomberg - Bloomberg Re-Entry Program
5. Citi - Citi Pathways Returnship Program
6. Goldman Sachs - Goldman Sachs Returnship Program
7. JPMorgan Chase - JPMorgan Chase ReEntry Program
8. Mastercard - Mastercard Relaunch Program
9. Morgan Stanley - Morgan Stanley Return to Work Program
10. Prudential - Prudential Return to Work Program
11. UBS - UBS Career Comeback Program

Retail Returnship Programs in 2023

1. Target - Target Reconnect Program
2. Walmart - Walmart ReStart Program

Healthcare Returnship Programs in 2023

1. Blue Cross Blue Shield - Blue Cross Blue Shield Return to Work Program
2. CVS Health - CVS Health's Encore Program
3. Johnson & Johnson - Johnson & Johnson Re-Ignite Program
4. Merck - Merck STEM Returnship Program

Manufacturing/Automotive Returnship Programs in 2023

1. Caterpillar - Caterpillar Renewal Program
2. Ford - Ford Restart Program
3. General Motors - General Motors Take 2 Program
4. Mercedes-Benz - Mercedes-Benz Return to Life Program
5. Northrop Grumman - Northrop Grumman iReturn Program
6. Toyota - Toyota Women's Returnship Program

Consulting Returnship Programs in 2023

1. Accenture - Accenture Break|Ground Program
2. Bain & Company - Bain Career Reboot Program
3. Booz Allen Hamilton - Booz Allen Hamilton Reboot Program
4. EY - EY Reconnect Program
5. KPMG - KPMG Comeback Program
6. McKinsey & Company - McKinsey & Company Return to Work Program
7. PwC - PwC Return to Work Program

Energy Returnship Programs in 2023

1. Chevron - Chevron Returnship Program
2. Con Edison - Con Edison Encore Program
3. Exelon - Exelon Re-Entry Program

Telecommunications Returnship Programs in 2023

1. AT&T - AT&T Reconnect Program
2. Verizon - Verizon ReEntry Program
3. T-Mobile - T-Mobile Returnship Program

Media Returnship Programs in 2023

1. NBC Universal - NBC Universal Pathways Program
2. Time Warner - Time Warner Return to Work Program

Non-Profit Returnship Programs in 2023

1. The Mom Project - The Mom Project Path to Pay Project
2. Path Forward - Path Forward Returnship Program
3. Women Back to Work - Women Back to Work Program

Education Returnship Programs in 2023

1. Teach for America - Teach for America Returners Program

Other Returnship Programs in 2023

1. AARP - AARP Returnship Program
2. ATHENA STEM Women - ATHENA STEM Women Returnship Program
3. A4TD - A4TD Returnships
4. Cadence - Cadence Returnship Program

Conclusion

Returnship programs in 2023 are becoming increasingly important for people who want to return to work after taking a break. These programs offer a structured environment where individuals can update their skills, learn new things, and reconnect with their professional network. Some of the top companies offering returnship programs like IBM, Goldman Sachs, and Amazon, give people the chance to learn, get advice, and network with others. However, it's crucial to carefully research and assess the companies with returnship programs to ensure the company's values and the returnship program are suitable for your career goals.