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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

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
slide2

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.

dte student programs decide what will be the scope of your study

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)
the project

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
return on investment equation
Return on InvestmentEquation

How to use ROI

If

ROI = 1.0

% Return on Project = 100%

Another perspective

A $1 investment would return $2 total

identified costs use your own but these are a great starting point

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)
identified value same as costs build on these and use your own note need to use net present value

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)
survey

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
company benefits

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
drivers of roi

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
roi recommendations reduction of cost

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)
recommended potential next steps

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