Problem Solution: Riordan Manufacturing

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Problem Solution: Riordan Manufacturing Riordan Manufacturing is a global plastics producer employing about 550 employees. The manufacturer has experienced a decrease in sales and a increase in employee turnover in the last few months. The paper will examine solutions to retain the customers and gain new ones as well as brainstorm viable solutions to combat employee retention. Communication will be key to the outcome of both problems. Situation Analysis Issue and Opportunity Identification Riordan Manufacturing has a multitude of problems that they are trying to correct in a reactionary manner. The innovative efforts of the company could have possibly been alleviated if the company had watched the changing trends in the industry and the increasing turnover rate of its employees. Although the company has revamped the focus of the sales force, employee morale must be addressed immediately. In an effort to reduce the turnover rate for remaining employees the President and senior management has decided to interview several consulting firms to provide feedback for the employee morale and turnover rate issue (Riordan Manufacturing n.d.) Stakeholder Perspectives/Ethical Dilemmas Riordan Manufacturing has three major stakeholders; senior management, employees and the customer. The president of the company has listened to senior management and is unwilling to move forward with a new compensation and instead has decided to hire a human resource (HR) consulting firm to determine what the real issues are. The Chief Operating Officer and the Chief Financial Officer are in agreement that the company’s HR director is more than capable of analyzing the results of the employee survey; however, the consensus is that she will not have th... ... middle of paper ... ...ividual performance Immediately Chief Financial Officer Human Resource Manager Empower employees and solicit feedback regarding the team concept to gain a “buy in” 1 Month Managers, Sales Representatives, Employees Develop product packages to better serve customer needs 4 months Managers/Sales Table 6 Evaluation of Results End-State Goals Metrics Target Demonstrate value to its employee’s by providing recognition, and a competitive wage based on job performance and experience Compile results of employee concerns 1 Month Riordan Manufacturing will provide quality service through its innovative approach to marketing its product. Establish a criteria for individual customer needs and requests Immediately-Ongoing Provide growth in market shares for all stakeholders. Customer focus and employee retention must be addressed through a comprehensive method 1 Month

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