Running head: RIORDAN MANUFACTURING BENCHMARK
Riordan Manufacturing Benchmark
Riordan Manufacturing
Riordan Manufacturing is facing numerous problems. The problems are evident because of the recent high turnover at Riordan. Turnover is a symptom of a larger problem – low employee morale. In order to overcome the morale issues facing the company, Riordan must work on employee relations, career development, compensation and motivation practices, and ethics and compensation issues. Riordan can benchmark practices used at other companies and refine these ideas to make them suitable for Riordan needs.
Effective Employee Relations
Riordan Manufacturing faces a challenging human resources environment. Falling profits and low employee moral have combined to undermine Riordan's long-term prospects. The company needs to increase employee capability without increasing human resource spending. Salary increases are not realistic due to the company's financial situation. Therefore, Riordan Manufacturing can increase retention and regain its competitive advantage by implementing an innovative employee engagement effort. Two companies that have successfully utilized employee engagement programs are Fabick Cat and QUALCOMM.
Employee engagement strategies are designed to maximize the talent available to the company by empowering employees. Engagement may take the form of surveys, feedback loops, career path programs, training, education, or work improvements. Two-way communication and trust are critical. Employees who are empowered in a constructive work environment are more productive and easier to retain. "Social system stability reflects the extent to whic ...