In today’s competitive economy, the war for talent has intensified. Organizations are increasingly investing in student engagement initiatives to build a robust talent pipeline. Among these initiatives, the offering of internship placements is a popular choice as it not only helps identify suitable talent, students can also benefit with valuable opportunities to develop work-related skills and gain experience. However, ensuring mutually beneficial outcomes for all stakeholders involved remains a challenge due to diverging expectations among stakeholder groups. This study aims to enhance our understanding of high-quality internship design by applying stakeholder theory (ST) and the expectancy theory of motivation (ET) as theoretical frameworks. Qualitative research methods were employed, including semi-structured interviews with key stakeholders from higher education institutions, human resources managers, and front-line supervisors as well as a focus group with graduating business students. Thematic analysis of the data revealed several key themes related to stakeholder priorities and interests. The findings of this paper contribute to the fields of ST and ET by addressing an under-researched area: the motivations of supervisors as crucial stakeholders in delivering the internship experience. Scholars and practitioners have largely overlooked this aspect. From a managerial perspective, the findings highlight opportunities for fostering more synergistic partnerships between stakeholders, not only at the institutional level but also among internal stakeholder groups, including top management, human resources functions, and front-line supervisors. © The Author(s), under exclusive licence to Springer Nature B.V. 2024.
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