Benchmarking: Riordan
MBA 530/Human Capital Development
University of Phoenix
March 17,2008
Riordan Benchmarking Case One
To become successful and remain as a leading global plastic production company, Riordan Manufacturing needs to become customer orientated as well as maintain employee satisfaction. Compensation is a key way of keeping employees happy as well as getting the job done right. Factors that affect compensation are dependent on seniority and individual achievement at Riordan. “The current reward system is barely based on performance, instead recognizing cost-of-living increases, seniority and position.”(University of Phoenix, week four). By designing a pay performance plan to compensate employees efficiently and equally, employee satisfaction will increase. “Unfortunately, as changes have been implemented, employee retention numbers have declined. The company recently conducted an annual employee survey, which showed a decrease in overall job satisfaction, particularly in the areas of compensation and benefits.” (University of Phoenix, week four).
Riordan Benchmarking Case Two
The number one thing that Riordan needs to concentrate on in order function well as a whole is their employees. As Harry Jones in his article comment’s, “companies in every industry are waking up to the reality that they must make the management and motivation of their employees their number one strategic priority — or risk falling behind the competition!” (Attracting and Retaining Talent) (http://www.achievemax.com/newsletter/00issue/attract-retain-talent.htm) Riordan will avoid future issues and confrontations arising by approaching the ...