final draft pp
TRANSCRIPT
INTERN PROJECT:
PRESENTED BY: Miguel Betancourt Sam Cartwright Julian Gadano Juan Hong Tina Huang Yangzi Zhang
The Millennial Opportunity
2
Setting the Table What’s our story?
Personal experiences
What challenges we faced Issues at hand
Who we talked to Internal and external team members
What we set out to do Recruiting, Retention, Millennials
3
Special Thanks To
Joel Mathlin & Suzzanne Fleet Jeannie Finkel Jessica Rossano & Donielle Brickner Milad Hassani Tara Cavallaro Kevin Jacobs Fengqi Shi & Monique Farrage Lisa Stein & DeJuan Oliver Jessica Pope 13 ICL Owners Mentors & Supervisors
4
Executive Summary
Challenges
• Attract Millennials – 25.84 years old (Active list on Merlin)
• Increase Retention – 9 (Verizon B2B) to 26.48 (Century Link Res)
• Improve Recruiting – ’14: 679,010 Interviewed. 63,465 New Starts
Goals• Increase Headcount • Improve Brand Image
Solution
• Drive Recruiting Funnel• Increase Revenue
• Internship Program
5
Agenda
Program Overview Benefits
ICLs Students Cydcor
Compensation Structure Implementation
6
Program Structure
Internship Program
10-Week Program
Compensation
Mentorship & Training Requirements
All Majors Accepted
No Sales Background
Needed10 Weeks
Commitment 2.5 GPA
Program Overview Benefits Payment Structure Implementation
7
Types of Internships
• Account Executive• Sales Rep
• Recruiting & Marketing• Enhances
recruiting & brand image
Program Overview Benefits Payment Structure Implementation
8
Account Executive Recruiting & Marketing
Benefits for ICLs
• Increase revenue
• Increase headcount
• Drive recruiting funnel
• Enhance owner’s and recruiter’s productivity
• Improve brand image
• Bring fresh, eager energy into the office
• Build or strengthen connection with local colleges
Program Overview Benefits Payment Structure Implementation
9
Benefits for Students Program Overview Benefits Payment
Structure Implementation
•Training & Mentorship program
•Teambuilding & Leadership experience
•Talent Acquisition
•Interviewing Skills
•Branding Skills
• Compensation • Communication & Networking Skills• Organizational & Time Management
Skills • Business Development & Management
Skills• Exposure to Real World Business
Account Executive Recruiting & Marketing
Average Revenue for Retention Period Calculation 10
19.03 days
$205.73/day
$3,915.04
70 days
$205.73/day
50% $7,200.55
70 days
$205.73/day
75% $10,800.83
70 days
$205.73/day
100%
$14,401.10
Program Overview Benefits Payment Structure Implementation
Days Worked
Average Rep Revenue Per Day
19.03 $205.73
*Summer 2014 Data
ICL Revenue Example: AT&T B2B (1 Intern per ICL)
Revenue Increase for ICLs
11
Program Overview Benefits Payment Structure Implementation
*Summer 2014 Data
$0.00
$2,000.00
$4,000.00
$6,000.00
$8,000.00
$10,000.00
$12,000.00
$14,000.00
$16,000.00
$18,000.00
Aver
age
Reve
nue
Campaign Group
Revenue Comparison
Total Rep Revenue Total Intern Revenue (50%) Total Intern Revenue (75%) Total Intern Revenue (100%)
*See details in appendix
12
Revenue Increase for Cydcor
$18,723.2
$9,171.9
$9,551.3
$9,551.3 221.5 $43.12
Bounty Stroke
Cydcor GP Per Day
# of Reps Per
Campaign
Daily Cydcor GP
Per Rep
$43.12 70 $3,018.5
Daily Cydcor GP
Per RepInterns Days
Worked
Total GP Per Rep
$3,018.5 11.75 $35,46
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Total GP Per Rep
Avg # of ICLs Per
CampaignCydcor GP Per
Campaign(100% prod)
Cydcor Revenue Example:
AT&T B2B(1 Intern per ICL)
Program Overview Benefits Payment Structure Implementation
Cydcor GP Per Day
*Summer 2014 Data
13
Potential Profit for Cydcor
Interns perform at 50% of average rep productivity: $335,754.04
Interns perform 75% of average rep productivity: $503,631.07
Interns perform at 100% of average rep productivity: $671,508.09
Program Overview Benefits Payment Structure Implementation
Cydcor GP for all campaigns at 50%
Cydcor GP for all campaigns 75%
Cydcor GP for all campaigns at 100%
*Summer 2014 Data
If each ICL (for the 11 targeted campaigns) had an intern:
Drive Recruiting Funnel 14
Total Resume from Ads
Database Downloaded
Booked 1st
Showed 1st
Invited for 2nd
Booked 2ndShowed
2ndNew Start
s
Weekly Average Summer 2014
151
191
81
29
17
14
9
3
Recruiting FunnelPotential Increase by Interns (assuming 1 intern per office)
75.5
95.5
40.5
14.5
8.5
7
4.5
1-1.5
Program Overview Benefits Payment Structure Implementation
*Summer 2014 Data
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Drive Recruiting Funnel Program Overview Benefits Payment
Structure Implementation
Example: AT&T B2B
Average Rep Rev
$205.73
Days Worke
d
19.03
Total Revenu
e
$27,405
Average
Cydcor Profit
$ 43.12
Total Profit
$ 5,744
Days Worked
19.03
*Summer 2014 Data
Potential Profit Increase for 1 ICL
Potential Profit for Cydcor from 1 ICL
TotalWeeks
7
Total Weeks
7
Revenue increase assuming 1 intern per ICL, intern brings 1 new start per week for 7 weeks
Total Revenu
e
$27,405
Recruiter Cost
$7,527.66
Rep Cost
$1077.29
Total Profit
$18,800
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Drive Recruiting Funnel Program Overview Benefits Payment
Structure Implementation
Revenue increase assuming 1 intern per ICL, intern brings 1 new start per week for 7 weeks*Summer 2014 Data
Total Profit Increase for ICL per Campaign
AT&T B
2B
AT&T U
-Ver
se
Centu
ry Li
nk R
es
Direct
Energ
y US B
2B
Direct
Energ
y US R
eside
ntial
QUILL
Spar
k Ener
gy Res
identia
l
Star
Ener
gy
T-Mob
ile
Verizo
n B2B
Verizo
n FIOS I
I $-
$5,000.00
$10,000.00
$15,000.00
$20,000.00
$25,000.00
$30,000.00
$18,800.35
$12,854.48
$26,725.71
$21,785.38
$13,189.85
$9,277.16 $6,667.93
$3,832.08 $2,342.51
$5,030.36
$14,143.54
Potential CydcorProfit
$1,672,206.27
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Intern starts with % (acceptance rate = 1 – rejection rate) of commission before hitting leadership and gets 100% commission after hitting leadership
Complete 10 week program (Tier 1
completed) – Letter of recommendation &
Potential college ambassador offer
Build a team with at least 1 rep hitting
leadership (within 1 month after the
internship) - $100 per rep
Compensation Structure-Account Executive
Intern gets paid as regular rep
Option A (Tier System):
Option B :
Program Overview Benefits Payment Structure Implementation
Tier 2 Tier 3 Tier 1
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Account Executive PayProgram Overview Benefits Payment
Structure Implementation
$0.00
$2,000.00
$4,000.00
$6,000.00
$8,000.00
$10,000.00
$12,000.00
$14,000.00
Aver
age
Rep
Pay
Campaign Group
Cost Comparison
Tier System Full Commission
*See details in appendix
19
Option A:• Intern gets paid minimum wage (Differ by
state)• Average bonus per “Like”= $5
Option B:• Hourly pay by minimum wage
Program Overview Benefits Payment Structure Implementation
Compensation Structure- Recruiting & Marketing
*Summer 2014 Data
20
Recruiting & Marketing Pay
*Summer 2014 Data
$0.00
$2,000.00
$4,000.00
$6,000.00
$8,000.00
$10,000.00
$12,000.00
$14,000.00
Aver
age
Pay
Campaign Group
Cost Comparison
Current Average Pay ($550/Week+Bonus) Minimum Wage+Bonus Minimum Wage
*See details in appendix
21
Attraction & Retention StrategiesProgram Overview Benefits Payment
Structure Implementation
Why would they choose us?• No experience required• Opportunity to build a team• Harvard Business Review: Millennials’ Interests
• 40% claimed that becoming a leader was “very important”• 53% said a mentorship program would help them be more
productive
Why would they stay? • Culture • Training program• Mentorship• Unique leadership experience
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Pilot ICLs ListICL Owner Campaign
Michael Palomba AT&T U-VerseJonathan Perry AT&T U-Verse
Melissa White Quill
Alex Kantor QuillNathan Stanton Quill
Sarah Horning QuillDuran Kelly Verizon FIOS II
Tri Vo Century LinkPaula Silveira T-Mobile EIP
*Elijah Medge T-Mobile EIP*Christopher Butte Verizon B2B
*Ken Lear AT&T B2B* Showed Interest
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Playbook for ICL OwnersProgram Overview Benefits Payment
Structure Implementation
• Mentorship• Feedback• Team Bonding• Leadership
Development
• Evaluation Form• Letter of
Recommendation• College Brand
Ambassador
• Legal Check• Goal Setting• Training• Office etiquette• Payment Structure
• Research Colleges• Create Ads• Post Ads• Interviews
Recruiting
Onboarding
During Internship
Off
B
oarding
OnboardingDuring InternshipOff BoardingRecruiting
*See details in appendix
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Internship Program: Sample Schedule
Program Overview Benefits Payment Structure Implementation
Monday Tuesday Wednesday Thursday Friday
68-8:15 Mentorship
8:30–9 Sales Skills Training
1-2pm Intern & Mentor Lunch
78-9am Business Management Workshop
9-5pm Shadow a Leader
88:30-9 Territory Management Training
9-5pm Field
98-8:15 Mentorship
8:30-9 LID Class (Leaders in Development)
108-9am Business Development Workshop
138-8:15 Mentorship
9-5pm Field
148:30-9 Organizational Skills Training
9-5pm Field
158-8:30 Sales Strategy Training
9-5pm Field
168-8:15 Mentorship
8:30-9 LID Class (Leaders in Development)
178-9 Leadership Development Workshop
Hit Leadership!!!!
June 2016
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Why Now? Innovation Millennials
LinkedIn, College job boards Talent
Map Recruiting – Sports
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Deliver the “Experience”
Difficulty vs. Reward Peace Corps, Teach for America, Doctors
without Borders Successful people who started in Sales
Chris Pratt, John Paul DeJoria, Sara Blakely Not that much experience needed
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Q & A
28
Appendix Financial Analysis (by Campaign)
Potential Revenue Increase for ICLs Potential Revenue Increase for Cydcor Expenses
Sample Ad for Recruiting Survey
Question List Result and Analysis
College Map and Infographic Playbook for ICL Owners Interview Questions and Notes
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Average Revenue per Rep
Campaign GroupDays
Worked Average Rep Revenue
Per Day Total Rep Revenue AT&T B2B 19.03 $205.73 $3,915.04 AT&T U-Verse 18.34 $177.21 $3,250.03 Century Link Res 26.48 $212.36 $5,623.29 Direct Energy US B2B 19.13 $236.78 $4,529.60
Direct Energy US Residential 20.19 $161.26 $3,255.84 QUILL 15.45 $167.57 $2,588.96 Spark Energy Residential 9.64 $218.62 $2,107.50 Star Energy 18.17 $95.57 $1,736.51 T-Mobile 15.38 $109.79 $1,688.57 Verizon B2B 9 $213.55 $1,921.95 Verizon FIOS II 19.72 $177.96 $3,509.37
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Average Revenue of Account Executive Intern
Campaign Group Total Intern
Revenue (50%) Total Intern
Revenue (75%) Total Intern
Revenue (100%) AT&T B2B $7,200.55 $10,800.83 $14,401.10 AT&T U-Verse $6,202.35 $9,303.53 $12,404.70 Century Link Res $7,432.60 $11,148.90 $14,865.20 Direct Energy US B2B $8,287.30 $12,430.95 $16,574.60 Direct Energy US Residential $5,644.10 $8,466.15 $11,288.20 QUILL $5,864.95 $8,797.43 $11,729.90 Spark Energy Residential $7,651.70 $11,477.55 $15,303.40 Star Energy $3,344.95 $5,017.43 $6,689.90 T-Mobile $3,842.65 $5,763.98 $7,685.30 Verizon B2B $7,474.25 $11,211.38 $14,948.50 Verizon FIOS II $6,228.60 $9,342.90 $12,457.20
31
Revenue Increase for Cydcor
Campaign Group
Average Cydcor Revenue Weekly
(50%)
Average Cydcor Revenue Weekly
(75%)
Average Cydcor Revenue Weekly
(100%) AT&T B2B $1,509.24 $2,263.85 $3,018.47 AT&T U-Verse $1,683.30 $2,524.94 $3,366.59 Century Link Res $433.89 $650.84 $867.78 Direct Energy US B2B $1,891.09 $2,836.63 $3,782.17 Direct Energy US Residential $1,545.50 $2,318.25 $3,090.99 QUILL $803.75 $1,205.63 $1,607.51 Spark Energy Residential $1,794.10 $2,691.15 $3,588.19 Star Energy $45.48 $68.23 $90.97 T-Mobile ($376.09) ($564.13) ($752.17)Verizon B2B $1,423.88 $2,135.83 $2,847.77 Verizon FIOS II $1,659.10 $2,488.65 $3,318.19
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Cost for Account Executives
Campaign Group Option A (Tier System)Option B (Full Commission)
AT&T B2B $3,467.24 $3,962.70
AT&T U-Verse $4,187.05 $4,301.50
Century Link Res $4,779.16 $4,950.40
Direct Energy US B2B $5,383.66 $5,672.80 Direct Energy US Residential $4,853.82 $5,076.40
QUILL $4,181.18 $4,557.00
Spark Energy Residential $4,432.22 $4,547.20
Star Energy $4,653.74 $5,291.30
T-Mobile $5,712.61 $6,186.60
Verizon B2B $1,772.35 $1,820.70
Verizon FIOS II $4,724.21 $4,937.80
33
Cost for Recruiting & Marketing
Campaign Group Current Payment Option A Option B
AT&T B2B $8,827.66 $7,527.66 $4,200.00
AT&T U-Verse $10,068.75 $8,768.75 $4,200.00
Century Link Res $12,064.67 $10,764.67 $4,200.00 Direct Energy US B2B $9,671.54
$8,371.54 $4,200.00
Direct Energy US Residential $9,436.84
$8,136.84 $4,200.00
QUILL $9,139.74 $7,839.74 $4,200.00 Spark Energy Residential $8,758.33
$7,458.33 $4,200.00
Star Energy $8,250.00 $6,950.00 $4,200.00
T-Mobile $9,418.20 $8,118.20 $4,200.00
Verizon B2B $9,489.20 $8,189.20 $4,200.00
Verizon FIOS II $10,331.01 $9,031.01 $4,200.00
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Ads Sample for Intern RecruitingProgram Overview Benefits Payment
Structure Implementation