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Running head: PROBLEM SOLUTION: RIORDAN MANUFACTURING
Problem Solution: Riordan Manufacturing
Problem Solution: Riordan Manufacturing
Riordan Manufacturing is a global plastics producer who is trying to recover from slumping sales over the last two years by changing its sales processes to a new customer-relationship management system. Due to management focusing more and more on the sales, the most important resource the company has, its employees have been overlooked and now the company is starting to recognize that they might have a personnel problem. Now the company is starting to realize that they might be behind based on compensation and benefits, so now they are hiring outside firms to try to discover the root of employee’s concerns.
Situation Analysis
Issue and Opportunity Identification
Riordan Manufacturing is a Fortune 1000 company which employs 550 people with plants in Georgia, Michigan, and China. Over the last two years, sales have started to decline, so the company has decided to make several strategic changes in the way it manufactures and markets its products. The company has not only changed it manufacturing techniques but also its sales processes by adopting a customer-relationship management system. As the changes have been implemented, the management has seen employee retention start to decline at an alarming rate. Recent performance data has identified that the current reward system is not based on performance, but a cost of living increase, seniority, and position. Michael Riordan, the CEO of Riordan Manufacturing, knows that something must be done, so he’s considering his options about the rewards system ...