A “returnship” (return + internship) is a program designed to bring talented people back to the workplace after a break. The program was designed especially for women who take a pregnancy break from work. The financial firm of Goldman Sachs trademarked “returnship,” with a first use in September 2008. Goldman Sachs provides 10-week “returnships.”
The Sara Lee Corporation started one of the first returnship programs in 2008, and many high tech companies have returnship programs. An October 2012 article in Working Mother, however, called returnships a bad idea, pointing out that many people in the program weren’t hired for full-time positions.
US 2008, blend of return + internship, surface analysis return + -ship. Early programs include Sara Lee Corporation (October 2008).
returnship (plural returnships)
1. An internship-like program for experienced workers seeking to reenter the workforce after an extended period, particularly in a new line of work.
GOLDMAN SACHS RETURNSHIP PROGRAM
Start Your Journey Back to Work with the Goldman Sachs Returnship® Program
The Goldman Sachs Returnship program helps to develop talented professionals who are looking to restart their careers after an extended absence from the workforce. At Goldman Sachs, we value diverse perspectives and experiences; to that end, we are committed to help facilitate the “on-ramping” process through our Returnship program.
The Goldman Sachs Returnship program was specifically designed for those who left the workforce for two or more years and are ready to return. This paid, ten-week program offers opportunities in a variety of divisions and the chance to experience the vast network of resources at Goldman Sachs. The program launched in the fall of 2008 in the Americas, and given its success, the program has expanded globally.
The Wall Street Journal
October 23, 2008, 9:36 AM ET
Sara Lee Launches ‘Returnship’ Program for On-Rampers
By Sue Shellenbarger
For at-home parents who want to get back to work, Sara Lee Corp. has baked up a little surprise: The big packaged-food company is starting a new on-ramping program.
Led by CEO Brenda Barnes, the nation’s best-known on-ramper, Sara Lee will hire about 10 to 12 skilled, experienced men and women for four- to six-month “returnships.” Like college internships, the returnships will offer experience in marketing, brand management, sales or professional staff roles, Ms. Barnes says. Recruiting for the first group is expected to start this week, and a second “class” of 10 to 12 returnees is planned for 2009.
Here & Now, With Robin Young and Jeremy Hoson
Wednesday, July 20, 2011
‘Returnships’ Offer Path To Jobs For Stay-at-home Moms
Fishman-Cohen said that some hiring managers are skeptical and don’t want to make the commitment to someone who has been out of the labor market for a long period.
But some companies are beginning to offer what are known as “returnships,” full-time internships, paid and unpaid, that give moms, dads and others who have left the job market a chance to get back in.
MIT and Sarah Lee have used returnships, and Goldman Sachs recently tripled their returnship program that was started in 2008, due to its success.
Why a “Returnship” is a Bad Idea
By Stacey Hawley Posted October 30, 2012
Thinking about doing a “returnship”? Please don’t.
Returnship is concept coined by Goldman Sachs back in 2008 to supposedly help ease the transition of high potentials back into the job market. These high potentials were mostly college-educated, career-oriented women who had taken time off from work to raise children. The idea was that Goldman would hire these women for a trial period and then offer full-time jobs to SOME of the women. The percentage hired approximates 50%. Only half.
The HiringSite Blog
Returnships: Internships for a New Generation
By: Mary Lorenz on January 17, 2013.
It’s a common story these days: companies can’t find the qualified candidates they need, despite the high unemployment rate. But some employers are solving this dilemma through what are known as returnship programs.
Returnships, or return-to-work programs, are commonly described as internship programs for older professionals who have been out of the workforce for an extended period of time. In many cases, they are designed to help these individuals refresh their skill sets, learn new technologies and ease back into the corporate world.
The Huffington Post
Goldman Sachs’ Plan To Get More Older Women Back To Work
The odds are stacked against women over 50 who want to return to work. This program tries to help them.
01/24/2016 04:05 pm ET
Alexander C. Kaufman
Business Editor, The Huffington Post
For the last eight years, Goldman Sachs has been trying to help change that, according to Dina Powell, the bank’s head of corporate engagement. To do so, the company started a “returnship” program in 2008 to help bring more women into the cutthroat, male-dominated finance industry.
“It’s a later-in-life internship, if you will, for women who have had really successful careers but were out of the workforce for a period of time,” Powell told The Huffington Post’s Caroline Modarressy-Tehrani at the annual World Economic Forum meeting in Davos, Switzerland. “This allows them to come back, really get to learn the new technology and new markets issues, and really get a confidence that can sometimes be lost when you’ve been out of the workforce for a period of time.”
International Business Times (IBT)
Silicon Valley To Women Who’ve Left Tech: Please Come Back
BY SALVADOR RODRIGUEZ @SAL19 ON 01/28/16 AT 2:21 PM
Companies launching “returnship” programs also train their managers so they know how to work with individuals who are coming back to tech. Rather than avoiding résumés with gaps, they’re trained to look for them: Is this a qualified woman who took a break and may want to come back?
Returnees are given multiple points of contacts throughout their companies by assigned multiple mentors in addition to their direct supervisors. To ensure their careers will be able to advance, companies launching returnship programs offer their interns training across a broad range of topics, including how to write a résumé, conduct a job interview and promote themselves. Additionally, these programs provide women with multiple networking opportunities both inside and outside their companies so they can start rebuilding their connections throughout the tech industry.
Will “Returnships” Close The Gender Gap In Silicon Valley? They Might Not Be The Solution We Need
February 2, 2016 LIFESTYLE
A wave of high-profile companies in Silicon Valley are launching “returnships” this year, the International Business Times reports. Say what? The portmanteau of “return” and “internship” has come to signify a program for women who have been out of work for a while who want to reenter the tech industry. Seven companies have partnered up with the Society of Women Engineers to launch returnships this year. On the surface, this sounds like a great initiative, since it could help more women stay in the notoriously male-dominated tech industry, especially those who previously had to leave to start families. But will returnships fix Silicon Valley’s gender problem, or just mask it?
Word Mark RETURNSHIP
Goods and Services IC 041. US 100 101 107. G & S: Educational Services, namely, providing business and entrepreneurial training and educational research services; educational consultation, namely, providing instruction and training to individuals on how to re-enter the workforce all provided via workshops, courses and seminars. FIRST USE: 20080900. FIRST USE IN COMMERCE: 20080900
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Owner (REGISTRANT) Goldman, Sachs & Co. The Goldman Sachs Group, Inc., a Delaware corporation, and The Goldman, Sachs & Co., LLC, a Delaware limited liability company LIMITED PARTNERSHIP NEW YORK 200 West Street New York NEW YORK 10282
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