Riordan Problem Solution - Paper

Riordan Problem Solution

Riordan Problem Solution Charmaria S Gurley University of Phoenix

Riordan Problem Solution Riordan Manufacturing has been struggling with internal issues for the past ten years. Currently Riordan’s strategy is to increase innovation, recognize the value of teamwork, and reach new customers with new products. e issues. Riordan is struggling to retain the employees within the organization. Riordan’s can contribute its retention problem to the poor institution of the self-directed team plan and the dissatisfaction regarding compensation. This analysis will identify the issues at Riordan and how the management team will fix the issues. This analysis will specifically identify the benefit’s structure, compensation scale, and satisfaction level. All issues are directly related to retention. With the issues and opportunities at Riordan, several groups will be impacted if the management team does not act. This section of the analysis will identify the stakeholders and their interests, rights, and values. This section of the analysis will also identify any conflicting interests, conflicting rights, or ethical dilemmas. The individuals and groups identified as being directly affected include the employees, the clients, stockholders, and Michael Riordan. The issues directly affect the employees in two specific areas – financially and developmentally. First, the employees are affected if they choose to stay with the firm or if they choose to leave the firm. If an employee opts to leave he or she will not only be out of a job but they will not be able to use the proprietary production processes, pending projects and proposals, research and development strategies, or scientific and technological prototypes developed while working at Riordan. This policy is developmentally hindering to the research team. Riordan provides plastic bottles, fans, heart valves, medical stents and various other plastic parts to several businesses in different industries. Riordan’s client mission states that it will enhance long-term relationships through innovative solutions and reasonable pricing. Turnover within a company is pricy. Riordan’s failure to act on its current state is

Riordan Problem Solution counterproductive to its mission to the clients. Riordan’s actions, or lack of action, will result in loss of human capital, which affects the cost of doing business with the company. Riordan’s decision will affect the clients’ ability to have necessary plastic products available when needed proving the employees decide to go on strike. Riordan’s employees are not pleased with the current compensation plan. The current compensation system has been cited as the reason why employees are seeking opportunities with other firms. It is beneficial for Riordan to review and revamp the current compensation scale. Researchers have found that organizations that use the lead-the-market strategic plan have a higher chance of attracting new.The benefits package is related to the compensation plan as well. It is beneficial for Riordan to add a bundle generational benefits package. Each benefit package will cater to the three main generations – baby boomers, generation x, and generation y. Customer service, sales, and R &D associates are motivated by different internal advancements. It is beneficial for Riordan to identify training drivers within each department. For example, customer service associates will receive spot awards for random positive customer satisfaction responses. Sales representatives will receive bonuses when projections are met. Research and Development associates will receive bonuses based on production of products. The lack of structure in the performance appraisal is counterproductive to the selfdirected team structure. In order to successfully implement the self-directed team structure it is beneficial for Riordan to reevaluate the performance requirements. Often times employees become dissatisfied when they are not sure of what is expected of them and how they will be evaluated. The self-directed team approach is difficult when management does not have buy in of all team members. To ensure employees know what to expect and what is expected of them,

Riordan Problem Solution these HR managers could promote inclusive succession plans that prepare each employee for a business cycle and how they will be compensated because of achievements. These succession plans are aligned with corporate goals and strategies to ensure that the business is operating as a single, unified organization. Riordan will remain an industry leader using polymer materials to provide solutions to the clients’ challenges. Riordan’s R&D will continue to use innovative ways to identify industry trends. Through preservation of human capital, Riordan will strive to be a solution provider for its clients and maintain an innovative and team oriented working environment for the employees. Riordan will also ensure employee reward and recognition needs are met to assure that the financial and human capital is available for sustained growth. These initiatives will provide a climate focused on the long-term viability of the company. Conclusion Pay and benefits are directly related to retaining positive employees. For most employees a job is the primary source if income or financial security. HR managers who report using succession planning have enabled their companies to better focus on the business, while freeing employees from the distracting thoughts of compensation and advancement. In order to retain employees and continue to be a competing force in the plastics manufacturing business it is important for Riordan to adjust it reward and compensation system.

Riordan Problem Solution