Program Solution: Riordan Manufacturing

7408 words, 30 pages

Intro Sample...

nufacturing is a successful organization looking to improve overall performance and position the company for future growth. The organization was initially founded in 1991 and has seen significant growth since its inception. Today Riordan Manufacturing is a global competitor in the plastics market with over 550 employees. Projected earnings exceed $46 million with a heavy focus in plastic beverage bottles, custom plastic parts, and plastic fan parts.
The following review will analyze various issues impacting the organizations operations. Identified issues will be used to determine business opportunities while connecting improvements to key human resource management concepts. Key stakeholders in the organization will be identified... View More »

Body Sample...

The expectancy theory also assists managers in understanding how changes in HR practices could have side effects on other behaviors in a way that was not anticipated" (2001, p.40). In addition to diagnosing and correcting motivational issues use of the expectancy theory will provide the management team with methodical approach for identifying trends that may lead to future motivational problems.
Based on various measurements both employees and outside sources, namely the Human Capital Consulting firm, believe that financial compensation is below market values. Employees also do not have a firm understanding of how pay is connected to job performance. According to the 2003/2004 employee survey employees believe that pay is mainly connected to seniority.
In addition to standard compensation individual incentives are not properly tied to performance. Departments such as IT and R and D significantly support the sales force and see little to no return. The apparent lack of alignment for financial compensation and work performance is driving misconceptions and compounding the current motivational issues. Organizations must realize that employee perceptions need to be considered reality for the employees; therefore, the gap in understanding between the employees and the organization should be identified and corrected.
Changes to financial compensation can be costly. According to the consultant from Human Capital Consulting the compensation and reward system should be completely redesigned. The overall cost of the compensation and reward system improvements are ...

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