Riordan
Riordan Benchmarking
Riordan Manufacturing wholly owned by Riordan Industries is a global plastics producer which employees a broad range of employees who come from multiple educational backgrounds, generations, ethnicities and family situations. Due to the decline in sales and profit margins in the last two years Riordan made some strategic changes in the way it manufactures and markets its products. By implementing the Six Sigma approach and adopting a Customer-relationship management system Riordan is trying to improve processes and sales (University of Phoenix, n.d.).
Riordan's new strategy to create customer-focused teams and restructuring the manufacturing plants into self-directed work teams to help improve sales and profit margins has required Riordan to make several changes. Unfortunately, as changes have been implemented, employee retention and overall job satisfaction have declined. This report will present six benchmarking companies that faced similar issues as Riordan and how these companies responded to the challenge. Key course concepts will be discussed including motivating employees, aligning compensation and rewards strategy, providing training and advancement opportunities, retaining employees and establishing a continual learning environment.
Benchmarked Companies
DaVita, Inc
The first company benchmarked for this analysis is DaVita, Inc. DaVita provides dialysis services for those diagnosed with chronic kidney failure. In 1999, DaVita had been beset with financial, operational, regulatory and morale difficulties. The company was technically bankrupt; it was being investigated by the SEC, sued by shareholders, had turnover at over twice our current levels, was almost out of cash, and, in general, wasn't the happiest of places. DaVita was also in the process of completing a $ 3.1 billion purchase of Gambro, a large competitor (Pfeffer, 2006)
Kent Thiry hired as CEO of DaVita in October of 1999, knew...
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