Riordan Manufacturing Compensation Plan
Team B- Diana Barris, Nicole Bell, Jacqueline Chaney, Shawnda Davis, Hadeel Raouf,
Kelly Tyler
HRM/324
Annette Clark-Davis
February 11, 2013
Riordan Manufacturing Compensation Plan Riordan Manufacturing is a worldwide plastics manufacturer that is headquartered in San Jose, California. Their organization has over 500 employees and prides themselves on providing their customers with high quality merchandise to satisfy their plastics needs. They hold an ISO 9000 certification which is an organization that establishes and measures quality control. In order to meet or exceed the level of quality required under ISO standards, Riordan Manufacturing will need to have knowledgeable and skilled
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64). The external equity is based on how the employee sees the company's pay structure and compensation system. What the employer pays, relative to what other employers will pay for the same type of work. The Riordan Manufacturing Company works toward a fair base system, attracting, and maintaining good workers when considering internal and external equity. Implementing job analysis, employee evaluations, work structure, pay ranges, and pay grades are ways the company endorse internal equity. Marketing surveys, supplying a competitive pay system, and salary surveys are used to implement external equity. This will allow the company to manage and implement a compensation structure that will add value and continue to make the organization successful. Wage Management and Rationale Riordan Manufacturing’s salary administration program was created “to achieve consistent pay practices, comply with federal and state laws, mirror our commitment to Equal Employment Opportunity, and offer competitive salaries within our labor market” (University of Phoenix, 2004, p. 11). Employee compensation is based on several factors including but not limited to job analysis, evaluations, the duties and responsibilities of the job, and salary survey data on pay practices of other organizations in
Henderson printing is a mid-level company. The company operates some compensation models for its personnel. Through these models, the employees receive rewards for the labour they render to the enterprise. Henderson printing pays its employees by giving them regular salaries for their services. These are direct payments for the work they do in this company. Secondly, the employees are given pay raises even though this depends on the employee’s initiative to ask for a pay rise from the owner (Davis, 2013). Lastly, the employees are also accorded some merit bonuses every Christmas time. The merit bonuses are based on their contribution to
There are several stakeholders at Riordan Manufacturing to gather requirements from to provide a clear picture of the final project. The first stakeholder to gain input would come from the Chief Operations Officer, he was the requestor of the system upgrade, is responsible for the budget, which includes payroll. The Chief Legal Officer oversees the legal aspects of the human resources programs. The individual human resources managers within the individual facilities are the stakeholders who recruit and handle benefits for employees. Each facility has an accountant that oversees payroll and bonuses as well as the payroll specialist (Apollo, 2011).
Riordan Manufacturing is an international plastics manufacturer that currently employs 550 people with projected annual earnings totaling approximately $46 million. The company is completely owned by Riordan Industries which is a Fortune 1000 enterprise with revenues of up to $1 billion. The company’s merchandises consists of plastic beverage containers that are produced at its plant in Albany, Georgia; custom plastic parts are manufactured at its plant in Pontiac, Michigan; and plastic fan parts are created at its facilities in Hangzhou, China ("Riordan Manufacturing", 2013).
Riordan Manufacturing is a global plastics manufacturer with facilities located in: Albany Georgia, Pontiac Michigan, Hangzhou China, with a research and development department located in San Jose California. This establishment has produced an annual earning of forty-six million dollars. Riordan Industries, which is the sole owner of Riordan Manufacturing, is a Fortune 1000 enterprise with revenues in excess of one-billion dollars.
Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the
Riordan Manufacturing is a worldwide fortune 1000 enterprise manufacturer of plastics with sole ownership by Riordan Manufacturing Industries. Custom plastic product parts akin to beverage containers and fan parts help generate company revenue of one billion. Riordan development and research carries out at the company’s R&D headquarters location in San Jose, California. Three additional Riordan production plants include locations in Pontiac, Michigan and Albany, Georgia with an international joint venture in Hang Zhou, China. Riordan employs a mere approximate of 550 people with company projections at $46 million a
Riordan manufacturing has requested an upgrade to their current human resources system. They currently have several disparate tools that are patched together in order to complete HR functions. Many Excel spreadsheets are used by different parts of HR, and combining all resources into one system can provide many time saving advantages and a more reliable system over all. By reviewing who the stakeholders are and what the best information-gathering techniques are we can ensure that we collect the information for the requirements and stay within the scope of the project.
Riordan Manufacturing COO Hugh McCauley is requesting the implementation of a modern, state-of-the-art information system to integrate all existing HR tools into a single application. To achieve the desired goal, a very detailed investigation needs to be performed, studying the actual processes that Riordan Manufacturing currently uses. Also, a series of stakeholders will provide the adequate feedback trough a series of face-to-face interviews and meticulous observation of their respective working environments. These tools will help create a system that will maximize time
There are several obstacles for manufacturers attempting to employ changes in their processes for more sustainable practices. One problem that manufacturers will run into is the lack of direction. Knowing that change is needed is the easy part of reaching sustainability. Knowing what changes to make is a much more complicated challenge. The idea of sustainability is discussed often, yet broad scope ideas are traded without specific details and applications. Team B Consultants Inc. (TBCI), is the
Riordan Manufacturing has a large problem when it comes to inventory and customer orders. Because Riordan has offices both in the United States and in China, it faces a number of obstacles both in the logistics of inventory control and the need for accurate customer order management.
Riordan Manufacturing is a leader in the plastics manufacturing industry. As a fortune 1000 company, this employer of over 500 employees has not only made an investment into the products that roll off the production lines but most importantly the employees who help produce these products (University of Phoenix, 2013). In addition to the annual salary or hourly compensation these employees receive, Riordan makes additional investments in employees to better their wellbeing inside and outside of work. The complete benefit package offered by Riordan is known as the total
Columbus Custom Carpentry is a relatively small family-owned business that was started in 1946. The organization is rooted in the Midwest area of the country and focuses mainly on the production of antique and custom contemporary style doorwork. The organization currently has four locations and employs 135 employees. Even though the company operates in a niche market, Columbus Custom Carpentry has experienced great success resulting in annual sales of 15 million dollars. The organization is composed of several different departments, which are grouped into four different units. These units are administration, marketing, manufacturing and warehousing. Columbus Custom Carpentry has numerous problems dealing with internal and external compensation equity. The following team research conducted will examine identified human resource management issues dealing with topics such as pay equity, turnover rates, market pricing, and pay structure. The research will offer
Reinforce the global market competitive pay and benefits philosophy in compensation packages. Qwerty Instrument pay target goal
The company’s ability to pay is less than that of its competitors and will remain constrained until the company can establish a reputation and gain a share of the market (Cascio, 2013, p. 420), so the company should position itself carefully in the market. LL should allocate 25% of its budget for salary and benefits and use performance incentives, merit-based pay to keep fixed labor costs low. LL should pay employees $9.33 per hour, which is $19,406 per year and is $2 per hour less than industry average for Austin, Texas. The company should pay management a salary 5% higher than employees to maintain the balance of compensation rates (Cascio, 2013, pp. 423-424). The company should use additional benefits, performance-based incentives, and merit pay to attract, retain, and motivate employees who share the company’s vision and goals (Cascio, 2013, p. 423).