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Riordan Gap Analysis

1986 words - 8 pages

PAGE PAGE 2 Gap Analysis: Riordan Manufacturing
GAP ANALYSIS: RIORDAN MANUFACTURINGGap Analysis: Riordan ManufacturingYour Name HereUniversity of Phoenix August 30, 2007Gap Analysis: Riordan ManufacturingRiordan Manufacturing is an established global plastics producer which employs over 500 individuals with the projected annual earnings of $46 million. The company is a division of Riordan Industries, a Fortune 1000 enterprise. Like many large companies Riordan Manufacturing has several locations as their production is divided among three plants. Plant one located in Albany Georgia is responsible for producing plastic beverage containers. Plant two is located in Pontiac, Michigan and ...view middle of the document...

Implementation of this new strategic plan is at risk due to low employee morale and job dissatisfaction issues. Riordan will have to take immediate corrective actions to address these issues in order to successfully implement the new customer-relationship system. Riordan should consider a solution that allows management to improve morale and find effective techniques that would address and resolve employee dissatisfaction and strategies for dealing with conflict. Riordan also must set clear goals for their entire organization by engaging and involving all employees. Implementing the new strategy will require strong leadership in transforming the current organization marketing and sales approach to the new customer focused strategy based on customer needs.As changes have been implemented at Riordan, employee retention numbers have declined to an uncomfortable point for the company. In light of these numbers Riordan performed a comprehensive employee survey which showed a decrease in overall job satisfaction with an emphasis in the areas of employee compensation and benefits. The current reward system at Riordan could best be described as antiquated as it is not based on performance. Rather than basing rewards on workplace performance the company instead recognizes cost-of-living increases, seniority, and position. This means an employee that is newer to the company but a hard worker will make less than someone who has been with the company longer but "floats" through the workday.The issues at Riordan can best be summed up as employee pay, incentive plans, and career development.Employee PayTo appease workplace complaints Riordan should explore incorporating a merit pay system. In the typical merit plan employees' performance is evaluated using some type of companywide rating scale, and their base pay is adjusted upward based on the level of their individual performance (Dreher and Dougherty, 2001).Incentive PlansRiordan could take advantage should take advantage of their new team based format and offer group incentives such as gain sharing. Gain sharing plans are unit wide bonus systems based on performance in comparison to cost index. Work teams (or units) must first devise different ways to improve work processes, thereby reducing labor costs. Some proportion of the cost savings is then returned to the work group (Dreher and Dougherty, 2001). This is similar to company whistle blowers who are paid a certain finders fee bonus for helping to cut unnecessary expenditures from the budget.Career DevelopmentCareer development is often a major reason a person leaves or stays with a particular company. To combat the recent trend of employee departures Riordan can review employee's skills on a semi annual basis. Employee progress in cross training, education and career growth could be charted to ensure they are in line with their own career plan. In addition to helping employees acquire job-related knowledge, skills, and abilities, employers have a...

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