Problem Solution: Riordan Manufacturing
Problem Solution: Riordan Manufacturing
The manufacturing industry has been under amazing economic pressure the past few years. Riordan Manufacturing has been long established in the industry but has been slow to react to the changes in declining sales, erratic profits and employee turnover. Riordan’s restructure of the U.S. plants, into self-directed work teams, has created astounding turnover rates. Instead of taking immediate action when the declining sales and turnover began, Riordan waited and allowed the attack of the market share, profits and turnover to occur. Recently, the annual employee survey revealed a dramatic decrease in job satisfaction, compensation and benefits. Many employees are currently being under paid by 15% the markets needs and compensation is tied towards seniority rather than performance based. The current reward system is overwhelmingly perceived to be unfair by employees. Employee motivational theory reflects, “Employee perceptions are the......
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Approximate Word Count: 3821
Approximate Pages: 16 (250 words per double-spaced page)
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