The prevailing theme in the Fortune clipping?s 100 Best Companies to Work for in the States is the colligate between employee satisfaction and customer satisfaction. Companies today are more than aware of developing strategies to insure that the workforce is happy and frantic concerning work responsibilities. Certain human-centered issues focus on magnanimous employees what they want and need by ensuring a level of comfortableness around material needs and still providing a rest period towards meeting self-actualization needs. The shift in focus towards a keeping and longevity-based culture in Corporate America, is a rebound from the downsizing, rightsizing duration that is now a memory for the companies on Fortune Magazine?s 100 Best Companies to Work for in America list and for the majority of corporations today (McDonald, 2007).
Employee turnover is one of the largest be in ecesiss and is one of the to the highest degree unknown caller approachs. Companies on a regular basis record and report costs, such as, wages, benefits, utilities, Workmans Compensation insurance, space, and materials, but most companies have no record or report of the cost of employee turnover. Several studies have recently estimated the cost of losing an employee. The Society for serviceman Resource Management (SHRM) estimates that it costs $3,500 to replace one $8 per hour employee when considering all the costs like recruiting, interviewing, hiring, training, and reduced productiveness (Top Web News, 2006).
Riordan Manufacturing must consider these issues and more to create a successful business.
Riordan Manufacturing is a global plastic producer that employs 550 people. The company is wholly owned by Riordan Industries with earnings of $46 trillion and revenues exceeding $1 billion. The company has three production plants in Georgia, Michigan, and China. Corporate headquarters are in California (University of Phoenix, 2007).
The organization?s strategy to increase innovation, value teamwork, and obtain bleak customers is hampered by employee motivation.
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