Corporate Compliance
RIORDAN CORPORATE COMPLIANCE PLAN
Riordan Corporate Compliance Plan
Chris Moore
University of Phoenix
Riordan Manufacturing
Riordan Manufacturing is a global plastics producer with an employee base of 550. The company has a projected annual earnings at $46million and is owned by Riordan Industries. There are different segments of the company but the major customers are the automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers, bottlers, and appliance manufacturers. The company has recently undergone some strategic changes in manufacturing and marketing. Some of those recent changes are beginning to effect employee retention numbers.
Situation Analysis
Riordan Manufacturing has many issues and opportunities laid before them. The company must identify the proper issues in order to make the right adjustments. For the company to prosper, they must first take care of their employees.
Issue Identification
There are a myriad of issues that exist for Riordan Manufacturing. The company has gone through some recent structural changes because of the ever changing industry. Riordan decided to switch from an individual sales model to a team-based sales model. The issue with the above is that the individuals are used to being compensated solely based on their own performance; now there is apprehension about compensation at the team rate.
Another issue is just the pay itself. Some managers are concerned that employees may take proprietary information and share it with competitors after leaving the company. Higher ups are worried about people leaving because their base salaries are too low. In addition, different people in senior leadership have conflicting opinions about what the real issues of the employees are. Some believe the entire problem surrounds the incentive and pay packages. Other senior leadership believe the...
View Full Essay
