Some 24m people in the US and UK have filed for unemployment in the past five weeks as businesses struggle to contain the threats associated with the Covid-19 pandemic.To counteract the economic crisis that will likely follow the outbreak, many companies worldwide have halted their paid internship programs. Research by the recruitment platform Glassdoor found that between March 9 and April 13 internship opportunities across sectors declined by 52 percent.This is particularly discouraging for b-school students across the globe who were hoping to land internships throughout 2020, as they represent a rite of passage in their HE experience, and a crucial step in their future career advancement.Martin Boehm, dean of IE Business School, told BNN Bloomberg: “Investment banks are probably the best example. I’m not aware of banks that would hire without a previous internship or extensive investment banking experience. […] consulting firms are a close second.”Nevertheless, not all companies have taken the drastic decision to cut internships entirely.An ongoing survey by the National Association of College and Employers (NACE) found that, as of May 1 2020, almost 80 percent of US employers are making changes to their internship programs to keep attracting and retaining new talent during the outbreak.These measures include shortening the programs’ length, reducing the number of available spots and digitalizing all intern-oriented events, such as end-of-program presentations.But the most common solution so far has been shifting to online: almost half (46.2 percent) of surveyed employers have already done so.Career centers are facilitating this change by digitalizing recruitment: NACE reports that 42 percent are planning on conducting interviews through a combination of in-person and virtual spaces for the foreseeable future.Last month, tech and business giants such as Google, Amazon, Apple, Twitter, IBM, Microsoft, Sap, Morgan Stanley, Goldman Sachs and JPMorgan Chase were among the first companies to ride the online wave and implement telework internships for tens of thousands of candidates.The same goes for insurance firms such as Liberty Mutual: in the next few months, all 600 of its interns – undergraduate, graduates, MBAs, PHDs and law students – will work from home in the firm’s finance, IT, claims, legal and sales departments.Maura Quinn, Liberty Mutual’s manager of campus recruiting, told USA Today: “Over the past few years, Liberty Mutual’s program already offered virtual internships to a handful of interns who worked from some of our smaller offices. We took that model and scaled it up this year for all of our interns.”Smaller companies have followed suit, announcing virtual internship platforms where interns can work on a wide range of tasks, interact with employers through chatbots, take psychometric tests and gain access to e-learning resources to expand their skillset.While implementing such a drastic change to operations in a short amount of time isn’t always easy, it seems that employers have learned from the 2008 financial crash, when companies got rid of most work experience opportunities and struggled to find new talent in the following years.NACE reports that 61.3 percent of surveyed businesses plan to maintain the same level of recruitment for the Class of 2021 as for the Class of 2020. In fact, 5.5 percent even plan to increase recruiting in the upcoming months as countries all over the world begin to lift some – if not all – restrictions on their own workforce.Now more than ever, it’s important that companies remember that safeguarding internship programs doesn’t only benefit students. It’s very likely that the employers who showed commitment to recruiting talent and successfully adapted to the pandemic will be remembered fondly by future graduates and be their top choices once they enter the job market.As Pietro Micheli, Course Director of the Distance Learning MBA and Professor of Business Performance and Innovation at Warwick Business School, said: “The flexibility of online helps people continue their education around their increasingly busy lives. Now people are realising it is very possible to work from home […] with the same rich learning materials and networking experience, and it may well open the online market up even more.”Read more about Covid-19Coronavirus Student HubEverything Students Need to Know About the Novel CoronavirusConfused About Coronavirus? Imperial College Launches Free Covid-19 CourseWharton Offers Course on Consequences of Coronavirus CrisisDiscovering where to studyIs Postgraduate Education Still Worth It During a Global Recession?Cambridge University: Online Only Lectures Until Summer 2021Imperial College Business School Holds Virtual MSc Information SessionWhat to Consider When Comparing Universities OnlineHow to Choose a Business School Without Leaving the HouseComparing Virtual Tours of Top Business SchoolsWhy Higher Education is Still Necessary in Times of ChangeHow Can I Still Study Abroad?Why Technology Can Save University Enrolment in Trying TimesQS digital eventsQS Digital Events CalendarHow to Prepare For a QS Digital EventHow to Impress MBA Recruiters at HomeHow to Navigate Your University Search During Covid-19Why Aspiring Grad Students Should Attend HE EventsCoronavirus Advice for In-Person QS EventsAdmissions adviceUniversity Admissions: Coronavirus HubBusiness School Admissions: Coronavirus HubHow Will the New Clearing Process Affect Students?‘We’re Working to Ensure Candidate Applications Aren’t Disrupted’: Instagram Live with Imperial College Business SchoolUniversities Changing Tuition Fees in Response to CoronavirusHow Covid-19 Is Affecting Wharton MBA ApplicationsOnline Resources to Use in Your MBA ApplicationUK Government to Cap University Admissions: Will You Be Affected?How To Defer Your University Offer In the UKHow To Defer Your University Offer In the USHow to Defer Your University Offer in CanadaHow To Defer Your University Offer In AustraliaWharton Holds First Virtual Campus Tour For Students Stuck at HomeEntrance tests \u0026 examsSix Tips to Ace the At-Home GRE and GMATINSEAD Accepting Applications Without the GMAT Due to CoronavirusCan\u0027t Take TOEFL? Duolingo Might Offer AlternativeHow to Take the GRE and GMAT at HomeChina\u0027s National University Entrance Exam Will Go Ahead in JulyStudying online80% of UK Students Struggling Financially Due to COVID-19Business As Usual: ESCP Replaces In-Person Project With Online VersionWhy Coronavirus Will Cause an Ed-Tech BoomShould UK Students Get A Refund For The Academic Year?Majority of International Students Happy to Study OnlineBenefits of Online Degrees, According to StudentsHow to Successfully Work From HomeHow to Organize Your Routine When Working From HomeHow to Set Up Your Home Office When Studying Your MBAHow to Stay Focused When Studying Your MBA at HomeHow to Stay Engaged While Studying Online75 Percent of Students Expect Lower Tuition Fees For Studying Online9 Top Universities Offering Free Online CoursesWhy Hybrid Teaching Might Be the Future of Online CoursesUK Students Will Pay Full Tuition Fees If Classes Remain Online, Say Government10 Online Courses to Boost Your Business CurriculumLife in lockdownQuiz: Which Quarantine Cliché Are You?Meet the Charity Helping International Students Left Homeless By COVID-19Re-opening Businesses in COVID-19: Pros and ConsWhat It’s Like Being in B-school During the Covid-19 PandemicLife Under Quarantine: How Coronavirus is Affecting University StudentsCoronavirus: Life is Changing on Campus in the United States25 Productive Things To Do While Social DistancingFive Inventive Things B-School Students Can Do While Social DistancingHow to Keep Employee Morale High While Working From HomeHow UK Students Can Help Out During the Coronavirus Crisis9 Books All B-School Candidates Should Read While Social DistancingHow to Avoid Back Pain When Working From Home, According to a ChiropractorBusiness School Professors Recommend Activities to Pass the Time in the PandemicStaying healthyFive Ways to Look After Your Mental Health in LockdownHow Can Students Stay Healthy At Home?Should You Try to ‘Improve Yourself’ in Quarantine?Fun and Unusual Ways Students are Staying Active in QuarantineHow You Can Stay Happy and Healthy While Studying at HomeCareers adviceThe \u0027New Normal\u0027: Why Digital Skills Matter More Than EverThe EdTech Sector Grows as Other Industries Take a Hit from the Coronavirus CrisisBounce Back Loans: Everything You Need to Know for Your Small BusinessStaying Hopeful: MBA Grads on Job Hunting During a RecessionWhat Does Coronavirus Mean For The Hospitality Industry?How to Adapt Your Small Business During a PandemicHow to Get Hired Without Leaving the HouseHow 2020 Graduates Can Find Jobs Amid CoronavirusEverything Students Need to Know About Virtual InternshipsStaying Afloat: UK Small Business Owners on Adapting to a PandemicHow My B-School Experience Is Helping Me Run a Hospital During Covid-19Summer Internships Are Going OnlineSafeguarding Talent During Coronavirus: Will Internships Go Digital?