Problem Solution Riordan Manufacturing
Running head: PROBLEM SOLUTION: RIORDAN MANUFACTURING
Problem Solution: Riordan Manufacturing
University of Phoenix
Problem Solution: Riordan Manufacturing
Compensation and benefit plans along with meaningful work are critical factors to employee satisfaction and organizational success. Riordan Manufacturing Company, a global plastics producer, is experiencing staff turnover, poor job satisfaction and decreasing profits. A new customer focused team approach has been initiated to correct declining sales; however, the compensation and benefit program is not in alignment. This paper will provide a summary of the issues facing Riordan, identify stakeholders values and interests, and present possible solutions. A comprehensive motivation and reward strategy will be suggested along with an implementation and evaluation plan.
Situation Analysis
Issue and Opportunity Identification
Riordan Manufacturing Company is a manufacturing firm, headquartered in California, that employs 550 people in three locations; Georgia, Michigan and China. There is a diverse work-force including differences in geographical location, race, age and motivational needs. Over the past two years, sales have been declining along with employee morale and job satisfaction. Turnover rates are on the rise and varying degrees of dissatisfaction with the current compensation and benefit plan exist. Michael Riordan, CEO, is receiving numerous suggestions from his leadership team regarding needed solutions. The senior team is in agreement that time is critical; however there is disagreement regarding the best solution and each leader is posturing their individual view.
A challenge related to improving morale and satisfaction is to determine how to equally reward and motivate employees with different needs and jobs. The Riordan staff consists of three different age groups; baby boomers, GenXers, and Gen Y, whose...
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