Riordan Manufacturing, Inc. Benchmarking
Riordan Manufacturing is facing a decline in morale and work ethics. Declining sales and uneven profits over the years not only forced the company to change its sales processes, but also prompted them to adopt a customer-relationship system. Riordan's HR reward and compensation policy program need to be revised to deal with the existing problem. HR professionals over the world know that their toughest job is recruiting and retaining top-notch employees for their companies. With unemployment at its current rate, expanding businesses search for qualified workers like big-game hunters stalking the most elusive prey. Compensation plan and benefit plans are two compensation package companies are using to invest in its employees. Some organization form compensation committees to ensure that strategies and compensation programs are properly managed (Vault, 2008). To assist Riordan Manufacturing in changing its sales process, Team C has chosen the following companies to use as a benchmark: Blue Cross, Hershey Corporation, Infosys Technologies, John Lewis Partnership, Liz Claiborne, Inc., Peapod, The Container Store, Toyota Corporation, and Wal-Mart. Team C will then analyze each company by providing key concepts such designing the elements of an effective employee relations program, create a career development planning model that incorporates attention to key developmental success factors, evaluate compensation and motivation practices as they relate to organizational strategy, and discuss the impact of ethics on the determination of compensation and rewards systems.
Synopses Analysis
Elements of an effective employee relations program
Toyota has a different approach of how they run thei ...