What is Returnship?
Returnship Programs in 2023 offer a unique opportunity for professionals who have taken a career break to re-enter the workforce with training, mentorship, and support tailored to their specific needs. These programs recognize the unique challenges that older adults may face while reentering the workforce and work to address them effectively. Returnships for older adults typically offer a structured and supportive environment for participants to update their skills, gain relevant work experience, and adapt to the current job market.
These programs may provide:
- networking opportunities
- support for older professionals.
Here are some key advantages of returnships for seniors:
- Skill update and retraining: Returnship programs provide an opportunity for seniors to update their skills and learn about recent advancements and technologies in their field1. This helps them stay relevant and competitive in the job market.
- Professional network expansion: Participating in returnships allows seniors to build connections with professionals in their industry, potentially leading to job opportunities and mentorship1. Networking is valuable for accessing the hidden job market and gaining insights into job prospects.
- Confidence-building: After a career break, returning to work can be daunting. Returnships provide a supportive environment where seniors can regain confidence in their abilities and adapt to the current work culture1. The structure of these programs helps in easing the transition back into a professional setting.
- Demonstrating commitment: Completing a returnship demonstrates a senior’s commitment to reentering the workforce and highlights their dedication to professional growth. This commitment can be attractive to potential employers, showing a willingness to learn and adapt1.
- Closing employment gaps: Returnships bridge employment gaps on a senior’s resume and can serve as a stepping stone to full-time employment1. Employers recognize the value of individuals with diverse experience and perspectives, even if they’ve had a career break.
- Mentorship and guidance: Many returnship programs offer mentorship opportunities, pairing seniors with experienced professionals who provide guidance and support throughout the program1. This mentorship can extend beyond the returnship to provide ongoing career advice.
- Access to job opportunities: Some returnship programs have partnerships with employers, increasing the chances of securing permanent employment1. Employers may prefer candidates who have successfully completed a returnship, viewing them as motivated individuals with a commitment to getting back into the workforce.
Top 5 Returnship Programs
1. Goldman Sachs
The Goldman Sachs Returnship program offers sever
al benefits for professionals looking to restart their careers after an extended absence from the workforce. Here are the key advantages of participating in the program:
- Tailored approach: The program acknowledges that each professional’s journey is unique and aims to meet them where they are currently in their career path. The focus is on helping participants transition to their desired next step.
- On-the-job learning and exploration: As a participant, you will have the opportunity to engage in a six-month paid program that provides hands-on experience and exposure to different divisions within Goldman Sachs1. This allows you to enhance your technical skills and gain a deeper understanding of various opportunities available within the organization.
- Professional development resources: The program offers access to a vast network of resources at Goldman Sachs, including leadership development opportunities1. This support and mentorship from a dedicated Returnship program team can help you develop your professional skills and navigate the transition back into the workforce.
- Advocacy and support: Top performers within the Returnship program receive advocacy and support as they transition to full-time employment1. This recognition and assistance can enhance your prospects for securing a permanent position within Goldman Sachs.
- Building a diverse community: The program fosters a diverse community of professionals from different backgrounds, providing an opportunity to learn from and collaborate with individuals with varied experiences and perspectives1. This creates a supportive environment for personal and professional growth.
- Creating a seamless transition experience: The program includes intentional sessions focused on building community and facilitating a smooth transition back into the workforce1. These sessions aim to help participants reestablish themselves professionally after an extended career break.
2. JPMorgan Chase
JPMorgan Chase’s ReEntry Program is designed to support experienced professionals who are currently on an extended career break of at least two years. The program aims to provide the necessary support and resources to help them relaunch their careers. Here are some key features of the program:
- Embracing diversity and experience: JPMorgan Chase recognizes the value of diversity and the fresh perspectives that returning professionals can bring to the organization. The ReEntry Program appreciates the wealth of experience that these individuals possess.
- Wide geographic reach: The program spans across several locations in North America, including but not limited to Baltimore, Boston, Brooklyn, Chicago, Columbus, Denver, Greenwich, Houston, Jersey City, Los Angeles, New York, Newark, Plano, Palo Alto, Summit, Tampa, Washington, and Wilmington1. This broad geographic coverage provides opportunities for professionals in various regions to participate in the program.
Through the ReEntry Program, returning professionals receive the guidance, support, and resources needed to successfully relaunch their careers at JPMorgan Chase. The program is tailored to help these individuals transition back into the workforce and leverage their skills and experiences for success.
The IBM Tech Re-Entry program is a full-time, paid returnship program specifically designed for technical professionals who have taken a break from the workforce for one or more years and are ready to restart their careers. This program provides returning professionals with the opportunity to refresh their skills through prescriptive learning plans and hands-on experience working on real-world, high-impact projects. Participants have access to the latest tools and technologies available at IBM, allowing them to stay up-to-date with industry advancements.
Here are the key points about the IBM Tech Re-Entry program:
- Full-time, paid returnship program for technical professionals
- Designed for individuals who have taken a break from the workforce
- Focuses on refreshing skills and knowledge
- Involves working on real-world, high-impact projects
- Provides access to latest tools and technologies
- Collaborative environment with multi-disciplinary teams
- Aims to empower and build confidence in returning professionals
- Goal is to transition participants back to full-time roles at IBM
Intel has developed a program specifically designed to facilitate a smooth transition back to the workforce for individuals on a career break. Their goal is to provide the necessary support to overcome any challenges that may arise during this period. The program includes the following benefits:
- Transitional support to help ease the return to work.
- Customized cohort coaching sessions tailored to meet individual needs.
- Dedicated mentoring and a buddy system to offer support during the re-entry process.
- Program management led by trained managers to ensure a confident and successful career relaunch.
Through these initiatives, Intel aims to streamline and support the journey of individuals returning to technical roles, ensuring a positive and productive reintegration into the workforce.
Return Flight is a comprehensive paid workforce re-entry and support program that aims to help individuals on a career break return to the workforce. Here are the key details and requirements of the program:
- Contract employment of varying lengths, starting from a minimum of 12 weeks, based on location.
- Opportunity for full-time employment upon successful completion of the contract period.
- Focus on learning, development, and workplace transition.
- Tailored onboarding and program orientation.
- Foundational upskilling to update and enhance skills.
- Personal coaching sessions for individual support.
- Professional and leadership skills development.
- Assigned professional coach, mentor, and buddy to provide guidance and support.
- Access to internal professional networks for career development.
To qualify for the program, the candidate profile should meet the following criteria:
- Have a career break lasting between 18 to 24 months.
- Have mid-career level professional experience prior to the break.
- Possess previous experience relevant to Intel’s areas of business (such as IT/software, project management, systems engineering and management, design, supply management, research, quality management, procurement, business operations, and bid writing).
- Completing the Return Flight program will equip participants with new skills and renewed confidence to continue growing their careers.
If you would like more detailed information about seniors returnship programs, We would recommend that you access our proper blog. The blog provides an in-depth overview of returnship programs designed specifically for seniors and offers insights into how these programs can benefit both professionals and employers.