Riordan Generic Benchmarking

In: Business and Management

Submitted By ryanbass
Words 3934
Pages 16
Running head: RIORDAN GENERIC BENCHMARKING

Riordan Generic Benchmarking

Introduction
Riordan Manufacturing is a global plastics producer. The company wants to develop a team compensation plan around its new customer-relationship management system. Riordan wishes to choose the best option to support this plan. Based on the generic benchmarking for issues facing Riordan the following companies have been identified as having some of the same issues: Graybar for team compensation strategies, BHP Copper for gainshairing, American Standard and United Parcel Service for work life policies, Transtec Group and LeasePlan USA for pay-for-performance plans, and Starbucks for part-time employee benefits. Based on the findings this paper presents some best practices to be used based on other companies.

Key Course Concept
The following companies were benchmarked against issues facing Riordan. These companies are Graybar Electric Company, BHP Copper, American Standard, United Parcel Service, Transtec Group, Starbucks, LeasePlan USA and Verizon Communications.
Riordan was benchmarked again Graybar in regards to team compensation strategy. Teams have become a popular way to organize business because they offer companies the flexibility they need to meet the demands of the ever changing business environment (Zobal, 1998). This process should be slow. Riordan had a compensation plan focused only on team performance without considering the growth in employee benefits.
The concept that was benchmarked with American Standard and United Parcel Service was work life policies. Work/Life Focus are programs that help employees better integrate their work and life responsibilities include time away from work, access to services to meet specific needs, and flexible work arrangements (Dreher & Doughtery, 2001).
The concept that was benchmarked with…...

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