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Submitted by meligirl on October 16, 2007
Category: Business
Words: 331 | Pages: 2
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Gap Analysis: Riordan Manufacturing
Strategic planning is a process that helps companies to evaluate the progress they are making by taking an objective look at the internal and external environment, identifying forces and trends within industries, and making decisions on how to proceed. The process involves a strong commitment to a company's resources and hiring and developing employees whose skill sets are aligned with the company's mission and long-term objectives. Riordan is currently experiencing problems with human resources involving the current motivation and rewards systems. Some steps Riordan needs to take before implementing a new rewards system include analyzing the relationship between motivation and performance, identifying components of effective retention, understanding the total rewards concept, assessing the impact of rewards systems on organizational performance, comparing different perspectives on human behavior and motivation, and deciding how to translate the diverse perspectives to organizational reward systems. If Riordan can develop an effective rewards system, then the Company can align new Human Resources systems with the strategy for team-based selling.
"Well-designed HR systems can influence business results because the return on investing in the subsystems (staffing, training, etc.) can often exceed the return associated with investing in other areas of the business, highly motivated workers at the upper ends of certain knowledge-skill distributions are rare, the overall HR system is very difficult to replicate in another company, and high-level managerial, entrepreneurial, professional, and technical employees are not easily replaced with machines and emerging information technology" (Dreher and Dougherty, 2001, p.177). Riordan's new business strategy will provide opportunities for employees and managers to create and fill new positions that will require further training and development. In light of the new...
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