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Understanding the ROI of Student Programs: Insights from DTE Energy and University of Michigan-Dearborn

Dive into the findings presented by Korina Kasperek and Michael Callahan as they explore the return on investment (ROI) from student programs at DTE Energy. This overview includes insights from their extensive survey data and benchmark studies, revealing the scale of DTE's student co-op, internship, and summer programs. The session outlines methodologies to assess program value, improvements in efficiency, and key strategies for enhancing student internship experiences. Whether you’re involved in HR or student development, discover actionable recommendations to maximize your student programs' impact.

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Understanding the ROI of Student Programs: Insights from DTE Energy and University of Michigan-Dearborn

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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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