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Essay / Research Paper Abstract
A 20 page paper assessing conditions at a fictional manufacturer and how it can approach rectifying compensation inequities that have developed over time. Riordan has failed to keep up with its industry in terms of salaries over the past several years; apparently employees were happy enough with the company that they would accept lower salaries for trade-offs in other areas. Riordan management has come to realize the precarious nature of its position and now seeks to rectify it in the most efficient way possible that is also cognizant of declining sales across the industry, and not only those at Riordan. The paper assesses the situation, identifies alternatives, chooses the best selection of alternatives and provides an implementation plan. Bibliography lists 10 sources.
Page Count:
20 pages (~225 words per page)
File: CC6_KShrEmpMotRio.rtf
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Unformatted sample text from the term paper:
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, 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.
Riordan has failed to keep up with its industry in terms of salaries over the past several years; apparently employees were happy enough with the company that they would accept
lower salaries for trade-offs in other areas. With the appearance of losing ground in their importance to Riordan management as stakeholders in the company, compensation issues for current employees
become more problematic while also reducing Riordans ability to compete with other companies in its industry in recruiting the most desirable candidates for positions within the company. Riordan management
has come to realize the precarious nature of its position and now seeks to rectify it in the most efficient way possible that is also cognizant of declining sales across
the industry, and not only those at Riordan. Situation Analysis Issue and Opportunity Identification Beyond the immediate sales and revenues issues, Riordan has
found that its average salaries for several key activities (engineering, programming and others) are well below industry averages, creating apprehension among the managers of several areas. Engineering and IT
managers are concerned they will begin losing key employees holding proprietary information, and R&D "says that their employees who work on long-term projects would be best served by incentives that
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