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Identifying the Real ROI You Can Expect from Your Student Programs

Presented by Korina Kasperek, SPHR Sr. Client Relations Consultant, DTE Energy & Michael Callahan Director, Career Planning & Development College of Business The University of Michigan - Dearborn. Identifying the Real ROI You Can Expect from Your Student Programs.

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Identifying the Real ROI You Can Expect from Your Student Programs

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  1. Presented by Korina Kasperek, SPHR Sr. Client Relations Consultant, DTE Energy & Michael Callahan Director, Career Planning & Development College of Business The University of Michigan - Dearborn Identifying the Real ROI You Can Expect from Your Student Programs

  2. DTE Student Programs Overview • DTE’s student programs as a large volume of students at any given time. • Benchmark study in 2010 showed that DTE’s Student Co-op program was larger than any of the 15 peers that responded to our survey. • Volume of program – on average • Co-op Program = 100 students per term • Internship Program = 50 – 100 students at any given time • Summer Student Program = Over 200 students per summer Given the size of the investment in student programs it made since to determine the ROI.

  3. Summer Student Programs – Full time, Summer Only Employment • Internship Program – Part time work, year round. Project based work. • Co-op Program* – Full time employment per term. Three terms offered per year. Students rotate in and out of program. * Survey sample taken from this group. DTE Student Programs(Decide what will be the scope of your Study)

  4. Purpose: • Develop a tool to assess the value of DTE’s Student Program • Assess value to program • Create user friendly tool to implement in other areas or terms. Timeframe: Summer 2012 Pool: Sample of Participants in DTE Co-op Program The Project

  5. Return on InvestmentEquation How to use ROI If ROI = 1.0 % Return on Project = 100% Another perspective A $1 investment would return $2 total

  6. Training Program Cost • Intern’s Wages • Main Project Cost • Job Shadowing Cost • Training Cost - Developing (Mentor’s Hours * Hourly Wages) • Average Hiring Cost per Student in the Survey • Administrative Recruitment Process • Interviewing • Orientation Cost (Intern Hours and Average Hrs/Wages of HR staff) • Other Projects Cost as identified Identified Costs(Use your own but these are a great starting point)

  7. Net Present Value of Intern’s Project • Realized Efficiencies or Improvements • Impact by not doing work • Net Present Value of Hiring Intern • As opposed to bringing in Contractor • Net Present Value of Assistance Intern Provided to Mentor • As Opposed to leader to work, thus impacting other work that needed to be done • Net Present Value of Other Projects Note: Net Present Value is defined as the present value of all future income (or loss) associated with a project. Identified Value(Same as costs – Build on these and use your ownNote – Need to use Net present value)

  8. Two surveys created through Qualtrics • Manger/Mentor Survey and Intern Survey • Both surveys designed to gather information relevant to value calculations • Intern Project Value • Intern Time Distribution • DTE Employees Present During Interviewing • Secondary qualitative data gathered • “Key Attributes” Interviewing DTE Employees Look for in Potential Interns • Semantic differential question about the Intern Program and Intern Student Preparedness was asked to Interns and Mangers/Mentors about Interns • Additional Resource –Key Contact • Provide information not possible to obtain by survey • Advanced notification to those employees and students impacted by survey to ensure timely responses Survey

  9. Identified ROI • Identified Drivers of Cost • Identified which projects where performing better than others • Identified opportunities to improve ROI • Identified common “behavioral themes” that leaders looked for in student’s to update interview questions Company Benefits

  10. Intern Project Value • Assisting Leader Hours • Loaded Leader Hourly Wage • Training Hours • Intern Academic Preparedness • Intern Rating of the Quality of Orientation Drivers of ROI

  11. Improve Interviewing Process • Reduce # of candidates interviewed • Reduce interviewer hours • Increase hiring rate of interns • Training Time • Have more returning students • Provide a second orientation at intern’s facility • Have intern rotations overlap ROI Recommendations (Reduction of Cost)

  12. Identify other efficiencies or savings from project. • Identify higher value projects for students to work on. Improving Return on Investment(Increasing Value)

  13. Decide if the approach is right for you • Organization size • Level of commitment and interest • Identify the scope • Participating Organization(s) • Develop staffing strategy to conduct study • Use an Intern (MS in Finance) • Are there any potential university partners? • Publish results and implement potential improvement strategies Recommended Potential next steps

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