Riordan Manufacturing Company Benchmarking Essay

3990 words - 16 pages

As per the course scenario (Scenario: Riordan Manufacturing, 2007) Riordan Manufacturing has had to make several strategic changes in the way it manufactures and markets its produces due to a decline in sales and fluctuation in profits over the last two years. The loss in revenue has made Riordan rethink their sales process and the decision was made to adopt a customer-relationship management (CRM) system. This paper will present benchmarking examples that offer some possible alternatives and solutions to assist Riordan in the process. Topics of discussion include the importance of Human Resources and Strategic Business Alliance, Corporate Culture and Leadership, Leadership and Organizational Behavior, Incentive and Organization Behavior, Employee Motivation and Reward, and Employee Retention Strategy. Benchmarking examples will support human resources role in directing changes within Riordan through organizational effectiveness and capabilities.Topic 1: Human Resources and Strategic Business AllianceCapital One Financial CorporationVoted one of the top 100 companies to work for by Fortune magazine for three consecutive years, 84th for 2007(Levering, Moskowitz, 2007) credit card company Capital One Financial Corporation works closely with their human resources department to support its growth goals and business strategy. David Liberson Vice President of Human Resources joined Capital One's human resources department shortly after it had spun off from a small bank. His view on HR support to the new venture was people focused "The best way to meet future people-needs is to hire the right people in the first place". Liberson had his work cut out for him as over the next several years the company experience growth rates at an annual average of 40 percent. The rapid growth had human resources managing an increase in employees from 2000 to 20,000 in just a few years. That kind of growth cannot be achieved if an organization remains static. "I think we have an inflection point now that says in order for us to maintain and build upon the success of the past, we have to learn new ways to remain small and nimble in a big-company body" says Liberson of Capital One's continued growth. (Delahoussaye, 2001) Riordan Manufacturing (Scenario, 2007) has become complacent and does not effectively use human resources to support business growth. Riordan's leadership needs to look at its business strategies and align them with human resources utilization if it is to achieve growth in its ever more competitive marketplacesCapital One focuses part of its HR strategy to support company growth through managing employees careers so that people can take on broader responsibly, succeed and become partners. People are not transition out of the organization but instead Capital One employs a method of internal development Liberson calls its "Darwinism at work" (Delahoussaye, 2001) At Capital One they continually identify individuals who can lead large groups and internalize the...

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