Riordan 9 Step
Running head: PROBLEM SOLUTION: RIORDAN MANUFACTURING
Problem Solution: Riordan Manufacturing
Billy Ancheta
University of Phoenix
Problem Solution: Riordan Manufacturing Pleasure in the job puts perfection in the work – Aristotle Motivation and Rewards have a direct impact on employee satisfaction which in turn related to employee productivity. Never before has the market been so competitive that organizations nowadays have to make it to where employees would want to stay. Recent trends of globalization, outsourcing, and the like have just magnified the need of organizations to remain competitive not only in their service that they provide but in providing service to its key stakeholders- the employees. Such is the case of Riordan Manufacturing wherein internal issues relating to compensation and pay have risen. Riordan Manufacturing is a global plastic producer employing approximately 500 people with revenues amounting to $46 million. The company has three branches, one of which is based in China. Riordan Manufacturing produces plastic beverage containers, custom plastic parts, and plastic fan parts wherein customers range from automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. Just recently, an annual employee survey indicated a decrease in employee retention and overall employee satisfaction relating to compensation and benefits. Riordan’s key players have agreed to resolve the issue once and for all by looking into revamping its internal benefits structure. This paper shall discuss the issues and opportunities that Riordan Manufacturing is presented with, the key stakeholders, the alternative solution analyses, the implementation plan, and the metrics to be used in order to measure the goals that Riordan should meet.
Situation
Problem Solution: Riordan Manufacturing
Billy Ancheta
University of Phoenix
Problem Solution: Riordan Manufacturing Pleasure in the job puts perfection in the work – Aristotle Motivation and Rewards have a direct impact on employee satisfaction which in turn related to employee productivity. Never before has the market been so competitive that organizations nowadays have to make it to where employees would want to stay. Recent trends of globalization, outsourcing, and the like have just magnified the need of organizations to remain competitive not only in their service that they provide but in providing service to its key stakeholders- the employees. Such is the case of Riordan Manufacturing wherein internal issues relating to compensation and pay have risen. Riordan Manufacturing is a global plastic producer employing approximately 500 people with revenues amounting to $46 million. The company has three branches, one of which is based in China. Riordan Manufacturing produces plastic beverage containers, custom plastic parts, and plastic fan parts wherein customers range from automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. Just recently, an annual employee survey indicated a decrease in employee retention and overall employee satisfaction relating to compensation and benefits. Riordan’s key players have agreed to resolve the issue once and for all by looking into revamping its internal benefits structure. This paper shall discuss the issues and opportunities that Riordan Manufacturing is presented with, the key stakeholders, the alternative solution analyses, the implementation plan, and the metrics to be used in order to measure the goals that Riordan should meet.
Situation
References: Cuthbertson, J. (2006). The Enthusiastic Employee. Business Book Review Library Dreher and Dougherty. (2001). Human Resources Strategy: A Behavioral Perspective for the General Manager HR Focus. (2007). More Evidence that Performance Management Yields Higher Profits Kearney, V. (2005). Our HR Columnist. People Management. Vol. 11, Issue 11, p46-46, 1/2p Khasru, B. (2005). Getting the Most from Workers. Fairfield County Business Journal Milkovich and Newman. (2004). Compensation (8th ed.). New York: McGraw-Hill. Miller, S. (2007). Satisfaction with Pay, Benefits Falling. HR Magazine. Vol. 52, Issue 1, p38-39, 2p Muczyk, J. (1988). The Strategic Role of Compensation. Human Resources Planning Peterson, K. (2006). Tips for Providing Incentives for Key Managers. Kitchen and Bath Design News Thigan, B. (2004). Trends Point to a Dramatic Generational Shift in the Future Workforce | | |2001). | | |Certain department heads have addressed concerns of |Riordan Manufacturing |External competitiveness |External Competitiveness/ | | | |are paying? (Milkovich and | | | | |Newman, 2004) | | |changes (Thigan, 2004). | | |Riordan Manufacturing is comprised of a diverse work|Riordan Manufacturing |Managers need to decide |Employee Benefits |