The Boston Fed and Greater Boston Chamber launch new platform to retain talent

The Internship Collaborative, a partnership led by the Federal Reserve Bank of Boston and the Greater Boston Chamber of Commerce, today announced the launch of InternHub.com- a free website open to all students, employers, and college career counselors in Greater Boston. The platform is the latest innovative strategy co-led by the Boston Fed and the Chamber to improve talent retention in the region.

"Greater Boston is home to many top institutions of higher education, which collectively attract to our region thousands of students from around the world each year," said Paul Guzzi, President , CEO of the Greater Boston Chamber.

Yet, research conducted by the Boston Fed shows that New England has a very low graduate retention rate compared to other regions. Studies further reveal the primary reason talented students leave is the misperception of limited job opportunities in the area.

"We need to do more to retain these talented individuals and expand our workforce to remain competitive in today's global economy," said Guzzi. "That is why the Chamber and the Fed-under the umbrella of The Internship Collaborative-have decided to expand our work in this area through the Intern Hub platform."

Accessible from any web browser or mobile device, Intern Hub provides students with access to thousands of local employers, permits companies to search for talented students, and enables career counselors to facilitate these connections. Intern Hub builds on the success of the Chamber's earlier website, Chamber Intern Connect.

"The Boston Fed is delighted to partner with the Chamber on this groundbreaking approach to talent retention," said Ken Montgomery, Boston Fed First Vice President , Chief Operating Officer. "The research clearly shows that students are unaware of the tremendous job opportunities available to them in the area. Through Intern Hub, we aim to bridge this divide by connecting students and employers before graduation."

Through Intern Hub, employers can upload job descriptions, sort applications, schedule interviews, and send private messages to candidates. Students can use the site to upload or build resumes, search for paid and college-credit internships, research employers, complete personality assessments and questionnaires to find the "right fit," and take advantage of career development advice. The platform also enables college counselors and faculty to help students find internships in the area.

Made possible by The Internship Collaborative, Intern Hub is powered by Internships.com, a CareerArc Group company that also supports the White House's 2013 Youth Jobs+ initiative.

About the Internship Collaborative

Under the leadership of the Federal Reserve Bank of Boston and the Greater Boston Chamber of Commerce, The Internship Collaborative seeks to strengthen New England's workforce and economy by convening employers, students, and college career counselors around talent retention initiatives and events. The collaborative is comprised of seven organizations committed to the region's economic prosperity, including: the Association of Independent Colleges and Universities in Massachusetts, the Mass Tech Collaborative, the Massachusetts Clean Energy Center, the Massachusetts Life Sciences Center, the Metro West Chamber of Commerce, State Street Corporation, and The Partnership. For more information, visit about.internhub.com.
Organizations seeking to join The Internship Collaborative should contact Krista Blair at Krista.Blair@bos.frb.org.

About the Federal Reserve Bank of Boston

As part of the nation's central bank, the Federal Reserve Bank of Boston promotes sound growth and financial stability in New England and the nation. The Bank contributes to local communities, the region, and the nation through its high-quality research, regulatory oversight, and financial services, and through its commitment to leadership and innovation. The Boston Fed represents the First District of the Federal Reserve System, serving the New England states: Connecticut [except Fairfield County], Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. For more information, visit bostonfed.org.

For information about the Boston Fed's graduation retention research, please visit http://www.bostonfed.org/economic/neppc/researchreports/2008/rr0801.htm.

About the Greater Boston Chamber of Commerce

The Greater Boston Chamber of Commerce is a broad-based association representing 1,500 businesses of all sizes from virtually every industry and profession in our region. The Chamber works to help Greater Boston-area businesses grow and succeed through its strategic networking events, impactful business advocacy, and innovative leadership development initiatives. For more information, visit bostonchamber.com.

About Internships.com

Internships.com, part of CareerArc Group, is the world's largest internship marketplace bringing students, employers, and higher education together in one centralized location. For more information, please visit www.internships.com.