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Riordan Generic Benchmarking Case Study.

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Introduction

Riordan Generic Benchmarking Anida Magaya, Dechazlon C. Burnett, and James Chmielinski University of Phoenix MMPBL/530 Human Capital Development August 23, 2010 Kathleen Lee Riordan Generic Benchmarking Organizations succeed nowadays through benchmarking other companies either from similar industry or from different ones, to determine best practices or solutions that they can incorporate to achieve organizational goals. This benchmarking paper tackles some of the issues and practices followed by these companies. In addition, the analysis reveals how corporations strategize their plans and put them into practice to handle or resolve challenges they face. The analysis takes into consideration some of important strategic human resources management concepts in conjunction with the issues explored. Examples of issues and concepts addressed in the paper are organizational fit and employee retention, behavioral impact of human resources management practices on organizational performance, training, and development. The research was conducted to compare and contrast how other companies addressed situations similar to those of Riordan. Our team evaluated companies that operate in different fields such as oil industry, specialty drinks industry, railcar, technology industry, and information and communication technology. The companies evaluated in this paper are BP P.L.C Amoco, Miller Brewing, Starbucks Corporation, and General Electric (GE), Gatx, Alphawest. The benchmarking of these businesses revealed several theories and models of strategizing used in handling issues similar to Riordan's and how these companies used these strategies successfully. BP P.L.C Amoco by Anida Magaya BP (British Petroleum) is one of largely integrated oil and gas companies globally. Its operations consist of exploration and production of gas and crude oil, in addition to marketing and trading of natural gas, power, and natural gas liquids. ...read more.

Middle

The implementation only took six weeks and the return on investment in time management and reduced cost was realized shortly thereafter. General Electric Synopsis by James Chmielinski General Electric (GE) is a leading conglomerate that operates eleven businesses. In the business world, GE is attributed with creating a system to train and develop its multinational, diverse workforce in a successful manner. Similar to Riordan, GE's challenge was to create an employee development system that encouraged innovation and aligned with the company's strategic initiatives. "HR systems that appropriately take into account business strategy and other contextual factors should affect firm performance by changing the composition of the firm's internal labor market and by influencing the behaviors of individuals making up this internal talent pool" (Dreher & Dougherty, 2001, Chapter 8). (need page number) GE provided on-the-job training since 1920 but the company needed to come up with a new approach after the decentralization of the organization in the 1950's. After analyzing various educational institutions, GE decided to create a corporate training center. The creation of the training center began to foster a strong learning culture because the development programs aligned with the company's strategic initiatives. The system evolved over the years and aided the employees by improve their productivity and performance because the content in the program allowed them to function better at their jobs because it aligned with the organization's long-term strategy. The learning culture has gained national recognition and honors for employee development and the company has received excellent feedback and results in positive employee feedback surveys. ...read more.

Conclusion

This is one more alternative that Riordan can look unto. Aligning the HR practices with the business strategy is one way that GE incorporated, which could be another alternative for Riordan. The lack of visionary leadership in Riordan has contributed to a poor leverage of the existing resources and competencies. Managing these areas more efficiently will allow a viable turn around in performance, competitiveness, and profitability at Riordan. Ultimately, focusing on these areas is necessary to increase the shareholders' returns on their investments and in one way can help motivate employees, which would reflect on enhanced job performance. However, the implementation of the change will be a challenge. Leaders will need to address employees' concerns, ethical issues, and the dissatisfaction. Some of these companies researched and examined the practices of their competitors, to find new strategies for increasing company performance. Riordan can have great benefit by benchmarking other companies to help aid its transition period. Conclusion Strategic planning and methodologies for changing business models is something that business need to research to come up with relevant theories and practices to help guide leaderships in managing the change. HR practices need to be aligned with the business strategic planning as well, the HR directors need to be considered at all levels of organizational planning for better processes. Riordan can benefit from the researched companies' practices that are presented in this paper and incorporate some of the alternatives benchmarked to facilitate for developing strategic plans. We found out by benchmarking that training and employee development is vital when undergoing change, as well employee retention is one important aspect that Riordan will need to focus on. Therefore, Riordan can achieve successful transformation by considering all or few of the alternative practices discussed through this paper. ...read more.

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