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Essay / Research Paper Abstract
A 4 page paper discussing employee motivation and retention efforts of Riordan Manufacturing. The company has switched to a team sales structure and wants compensation to reflect team effort as well as individual results, and it has long-term issues that will take more than a year to rectify. The paper recommends increasing salaries to bring them to industry average and surveying employees to stop the exodus that is beginning as the company works toward designing and implementing long-term goals. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KShrEmpMotRet.rtf
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Unformatted sample text from the term paper:
Manufacturing is a division of Riordan Industries, $1 billion member of the Fortune 1000. Riordan Manufacturing is a global plastics producer with 550 employees in three locations with projected
annual earnings of $46 million (Scenario: Riordan Manufacturing: Company Overview, n.d.). One of the manufacturing locations is in China; the others are in Michigan and Georgia. The company
recently changed to a team structure in sales and R&D, and its senior management has not been able to reconcile paying for team results on an individual basis. Further,
it has found that its average salaries for several key activities (engineering, programming and others) are well below industry averages. Riordan Manufacturing has many long-term employees and has had
low turnover in the past, but turnover rates are increasing and several employees report they are "actively looking." Its primary problem is that it needs to redesign its approach
to compensation for sales people and those involved in technical activities. Best Practice or Process After studying the problem, agonizing over it and
admitting being at a loss as to what to do, Riordans senior management brought in a business consultant who researched the compensation problem; researched the industry; held focus group sessions
with employees; and finally recommended that Riordan revamp its entire compensation system while dedicating a great deal of HR time to managing and overseeing the new system when it is
developed. Development and implementation of a new system is expected to take in excess of a year, a time period unacceptable in meeting
the needs of the company and affected individuals (sales, R&D) now. There is no way to shorten the time required to design a new compensation system and in fact
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