Riordan Manufacturing: Benchmarking

Paper Summary:

This paper explains that in the case of Riordan Manufacturing, a global Fortune 1000 plastics producer employing 550 people, there are three groups of employees having radically different perspectives on rewards and motivation, valuing everything from interesting work to bigger paychecks. The team analyzes organizational leadership at Best Buy, the Federal Bureau of Investigation, J.D. Irving Ltd and Baptist Health Care. The paper deduces, from this benchmarking, that upper management must focus less on themselves individually and more on what is best for their employees. The team questions the value of "Six Sigma" as a methodology versus simply getting the best people in the company together with a top priority to solve major problems. The paper expresses that Riordan Manufacturing's compensation plan appears to be somewhat lacking in areas of pay structure and the reward system as compared to General Electric, the Gallup Corporation and Motorola.

Table of Contents:
Situation Background
Problem Definition
Benchmarking Solutions
Organizational Leadership
Best Buy
FBI
J.D. Irving Ltd
Baptist Health Care
Motivation and Performance
Six Sigma
Morale, Just Compensation, Direction, Job Satisfaction
The Good News
Employee Satisfaction
Financial Strength
Corporate Strategy and Goals
Getting Back the Spirit
ERP as a Strategic Enterprise Initiative Challenge
Environmentally Friendly Products
ERP Implementation
Six Sigma versus Just Getting Good People Together
Let My People Go Surfing
Compensation and Pay Structure
General Electric
Gallup Corporation
Motorola
Employee Rewards
Performance Evaluation
Job Descriptions
Salary Administration
Employee Benefits
Flexible Spending Accounts
Flight Centre, Ltd.
Conclusion

From the Paper:

"Riordan Manufacturing has a motivation problem. Even though Riordan is profitable and ostensibly well run by looking at the general satisfaction indicators, employees are displeased and demoralized regarding a few key areas of corporate direction and employee compensation and reward systems. This has created a minor crisis for the company. However, the fundamentals of the business remain strong, and this situation should not be blown out of proportion. In fact, that seems to be part of the problem. Whatever problems Riordan is suffering from seem to be magnified under a lens of distortion."

Sample of Sources Used:

• Chouinsard, Yvon (2005) Let My People Go Surfing: The Education of a Reluctant Businessman. The Penguin Press
• Downard, Andrew (2006) Does it Actually Matter What We Teach Black Belts? IsixSigma.com. Retrieved from the Internet at: http://blogs.isixsigma.com/archive/does_it_actually_matter_what_we_teach_black_belts. html
• ECONOMIC FORECAST FOR RIORDAN MANUFACTURING, June 16, 2005, Retrieved from University of Phoenix website eResources 4/21/06.
• Flight Centre to rein in executive bonuses. By: Voorhaar, Ria. Travel Trade, 11/2/2005, p30-30, 1/3p; Abstract:. Retrieved from University of Phoenix database Ebscohost 4/22/06.
• Gallup. 2006. Retrieved April 21, 2006 from eResources U.O.P. on-line - this week's articles from URL http://www.gallup.com/content/?CI=115

More papers on Riordan Manufacturing: Benchmarking:

• Case Study # 100178 : "Case Study: Riordan Manufacturing"
• Analytical Essay # 123107 : "Riordan Generic Benchmarking"
• Case Study # 112671 : "Employee Motivation at Riordan"

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