Riordan Gap Analysis

2858 words - 11 pages

The prevailing theme in the Fortune Magazine's 100 Best Companies to Work for in America is the link between employee satisfaction and customer satisfaction. Companies today are more aware of developing strategies to insure that the workforce is happy and excited concerning work responsibilities. Certain human-centered issues focus on giving employees what they want and need by ensuring a level of comfort around material needs and still providing a balance towards meeting self-actualization needs. The shift in focus towards a retention and longevity-based culture in Corporate America, is a rebound from the downsizing, rightsizing era that is now a memory for the companies on Fortune Magazine's 100 Best Companies to Work for in America list and for the majority of corporations today (McDonald, 2007).Employee turnover is one of the largest costs in organizations and is one of the most unknown company costs. Companies regularly record and report costs, such as, wages, benefits, utilities, Workman's Compensation insurance, space, and materials, but most companies have no record or report of the cost of employee turnover. Several studies have recently estimated the cost of losing an employee. The Society for Human Resource Management (SHRM) estimates that it costs $3,500 to replace one $8 per hour employee when considering all the costs like recruiting, interviewing, hiring, training, and reduced productivity (Top Web News, 2006). Riordan Manufacturing must consider these issues and more to create a successful business.Riordan Manufacturing is a global plastic producer that employs 550 people. The company is wholly owned by Riordan Industries with earnings of $46 million and revenues exceeding $1 billion. The company has three production plants in Georgia, Michigan, and China. Corporate headquarters are in California (University of Phoenix, 2007).The organization's strategy to increase innovation, value teamwork, and obtain new customers is hampered by employee motivation. In high-tech manufacturing companies, addressing issues of equal rewards and motivation for employees is difficult because the different skills the company employs. The educational level, different generations, ethnicities, and family situations vary among employees. How well Riordan Manufacturing can address these issues will determine the company's level of success (University of Phoenix, 2007).Situation AnalysisIssue and Opportunity IdentificationRecent changes at Riordan Manufacturing have led to a decrease in employee satisfaction. The company is experiencing declining sales and imbalanced profits. The company was compelled to alter the sales process to a team approach rather than an individual approach. In the manufacturing portion of the business, quality management systems were implemented such as Six Sigma and ISO9000, to decrease the defect rates. A new manufacturing plant based in China has had some work redirected to that plant. After making these strategic changes,...

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