PPB September 2018

Employ Internships can provide significant savings in operational costs. The Society of Human Resource Management predicts the average cost-per-hire to replace an employee ranges between six and nine months’ salary. For an employee making $50,000 a year, that equates to as much as $37,500. Additionally, according to the National Association of Colleges and Employers (NACE), retention of employees hired from an internal internship program exceeds retention metrics of interns hired from external programs and non-intern hires at the one- and five-year marks. Running a successful internship program can be a daunting task, but it can be done—especially with some help. The PPAI Intern Education Program is for member companies seeking to cultivate the next generation of promotional professionals and showcase the exciting careers the industry has to offer. The PPAI Intern Education Program also provides resources for member companies who are interested in starting an internship program. The program includes an industry boot camp to bring interns up to speed on industry basics; a library of webinars designed for newcomers to the industry; access to SAGE Total Access online research and business management tools, including SAGE Online, SAGE Mobile and SAGE Web; and networking through Promo Connect, an online community for PPAI members. This program is available year-round, and member companies and interns are supported by PPAI’s Professional Development team. To learn more and apply, contact internprogram@ppai.org or visit www.ppai.org/members/education/intern-education. 2018 Higher Education Study | FEATURE looking for full-time employment in their field. Instead, college students are pursuing internships to develop skills and explore their interests. (Figure 6). Though some may end up becoming the next generation of leaders within the industry, others will go to other careers being better educated to buy promotional products. See sidebar for one former intern’s story. Whereas students are seeking real- world experience, institutions are looking to prepare students with tools to safeguard smooth transitions into the labor market. Despite the profound gains tendered through internship programs, a part-time instructor emphasized “the need for a larger buy-in from the faculty” as well. Faculty are a pivotal resource around which the process and outcomes of higher education revolve. Though experiential education has been commonplace in standard business-oriented programs, study findings better validate the need for Figure 6: Most Important Reason To Pursue Internship Source: PPAI 2018 Higher Education Study (n=966) To Develop Skills 64% To Explore Career Interests 20% For Full-Time Employment 13% To Receive An Employer Reference 3% Elevate Aspiring future leaders are faced with skyrocketing costs. According to the U.S. Federal Reserve, student debt hit a milestone during the first quarter of 2018 at a staggering $1.5 trillion, exceeding auto loan debt ($1.1 trillion) and credit card debt ($977 billion). The Promotional Products Education Foundation (PPEF) was founded in 1989 as a registered 501(c)(3) charitable organization to provide scholarships to promotional products industry employees and their children. The scholarships were designed to reach recipients across the country regardless of their educational objectives and interests. Whether the student becomes a promotional products industry professional or not, the foundation ultimately seeks to broaden its reach with hopes of enhancing overall awareness of the Association and the industry. Wayne Greenberg, MAS, chairman of the PPEF Board of Trustees, says, “We’ve gone from $100,000 to $200,000 in five years. Obviously, people love this industry and believe in giving back to help the next generation. There is still work to be done though, as we awarded scholarships to 18 percent of those who started an application. PPEF hopes to continue this growth to help more students pursue their educational dreams.” The foundation is funded by charitable donations and relies on the continued support from companies and individuals within the promotional products industry. All contributions made to PPEF are tax-deductible to the extent allowed by law. To learn more about how you can directly affect a student’s life, visit: ppef.us . RETENTION RATES 1 YR 5 YRS Internal Internship 66% 52% External Internship 52% 39% No Internship Experience 46% 36% Source: National Association of Colleges and Employers (2017) | SEPTEMBER 2018 | 93