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Gap Analysis: Riordan Manufacturing Mba 530

2138 words - 9 pages

Gap Analysis: Riordan Manufacturing PAGE \* MERGEFORMAT 1
Running head: GAP ANALYSIS: RIORDAN MANUFACTURINGGap Analysis: Riordan ManufacturingKakela HallUniversity of PhoenixGap Analysis: Riordan ManufacturingRiordan has recently began several changes in response to declining sales and uneven profits. The implementation of these changes has negatively affected employee morale and employee retention numbers are down. As a result, there has been a survey done by the company that can elevate employee morale and help the company introduce a more competitive pay system to retain key employees. "The pay system can be a powerful mechanism for encouraging and supporting a variety of alternative employee behaviors, such as individual goal achievement, or teamwork, cooperation, and quality improvement." (Dreher & Dougherty, 2001, p 78)The demand for a better reward system is one of the top priorities for Riordan Manufacturing. Yes! "An organization's reward system serves both internal and external functions. The internal benefits include increased job performance, decreased absenteeism and decreased turnover. Externally, the organization is able to attract better people" (Buhler, 2007). This paper will explore the issues that company is currently facing and the possible initiatives it can undertake to address the problem in most effective way.Issue and Opportunity IdentificationThere are many issues identified in the Employee Satisfaction this doesn't need capitalizing survey that reveal what employees are currently unsatisfied with and what they would like to see changed in the company. The main issues are concerned with the reward s and HR systems. Riordan Manufacturing has recently undergone a structural change as a result of declining sales and uneven profits. To ensure the financial well being company, segments of the company were redesigned to improve certain processes. As these changes were introduced to the company, the company experienced declining employee retention for various reasons. The findings of the Employee Satisfaction survey suggests that employees believe that they are not being recognized for their achievements and that the current reward system only recognizes the employees who are favorable with management. There is no clear definition of the performance evaluation process and as a result the employees do not understand the pay system. In addition, the pay rate is not competitive with that in the external market which adds to the employees' reconsideration of their employment place. "Managers must make decisions about the appropriate levels of pay compared to other firms (external competitiveness)" (Dreher & Dougherty, 2001, p 95) While the issues presented can be resolved, the company needs to weight the options and decide if the solutions can be adopted with maximum positive results and minimum costs the company. And how are these issues also opportunities? If resolved, what will this create at Riordan?Stakeholder...

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