Benchmarking: Riordan Manufacturing

Running head: BENCHMARKING: RIORDAN MANUFACTURING

Benchmarking: Riordan Manufacturing

Rochelle Conard

Rachel Lawson

University of Phoenix

MBA 530 Human Capital Development

September 6, 2007

Introduction: Riordan Manufacturing

The reader of this paper will gain a better understanding of the human capital development strategy of the Riordan Manufacturing. Riordan Manufacturing and six other companies share some of the same issues that affect the employees and leaders. Job satisfaction, employee benefits, employee turnover and compensation model development issues will be addressed. Resolutions to combat the issues and an overview to the business practices of Amersham, American Standard, United Parcel Service, First USA Bank, First Horizon National Corporation, and Alpha and Omega Building Services will be addressed. After reading, one can determine the impact human capital development has on the characteristics of each company.

Benchmarking

First Horizon National Corporation:

The Web site for First Horizon National Corporation provided attention-grabbing facts about its commitment to its employees and the way it operates as a business. First Horizon National Corporation (2007) is a national financial services company that has history of success and practices since 1864. Presently, the company, one of the top 30 bank holding companies in the United States, is known for its outstanding customer services and a deep commitment to its employees. First Horizon National Corporation is nationally acknowledged for strong corporate ethics and is one of the best places to work.

However, during the 1990s, First Horizon National Corporation was faced with low earnings, the threat of being acquired by a competitor and pressure from the labor market. Additionally, the employee value surveys administered showed a decline in employee satisfaction. Moreover, the career path of some of the employees was limited because of the organizationsЃf span of control. At that point, the leaders decided to introduce a new culture to the employees, Firstpower. The Firstpower culture reinforced the companyЃfs decision to put the employees and his or her needs first. The Firstpower culture allowed the employees to service the internal and external customers without supervisory approval, to benefit from flexibility with regard to his or her personal and professional lives and participate in career advancement. The employees were recognized as owners in the company.

Since the inception of the Firstpower culture and a revamping of its policies and strategic plan, First Horizon National Corporation has seen increased profitability and employee loyalty. Currently, the company employs more than 12,000 employees in over 40 states. As a result of the commitment to its employees, and inception of a revitalized benefits package and incentive program, First Horizon National Corporation was named one of the 100 Best Corporate Citizens by Business Ethics magazine, named to the AARP Best Employers for Workers Over 50 list, earned 11th straight spots on Working Mother magazine's annual list of the 100 Best Companies for Working Mothers and made Fortune magazine's Hall of Fame for earning a spot on its list of the 100 Best Companies to Work For since the list's inception in 1998 (First Tennessee, 2007).

Alpha and Omega Building Services By:

Alpha and Omega Building Services, Inc. is a full service janitorial company. Since its opening in 1986, the company has fulfilled the service needs of university campuses, industries, schools, office buildings, sport event facilities and others throughout the state of Ohio. The companyЃfs balance sheets show annual revenues of over $5.3 million per year (Alpha and Omega, 2007). The company employs over 200 full time employees and President and Owner, James Baker prides himself and the employees in developing personal relationships with its customers.

Although the company has experienced immense successes, the janitorial services industry experiences high employee turnover rates. The janitorial industry faces the constant challenge of retaining good employees. The constant turnover rate is one of the toughest challenges for Alpha and Omega Building Services. Additionally, Alpha and Omega Building Services faced competition from other employers because of a hike in the minimum wage and rising healthcare costs. Alpha and Omega Building Services lost customers as a result of the transition of employees. Ironically, in an industry with a 200% turnover rate (2007), Alpha and Omega Building Services has managed to keep its rate down to 25% by hiring only full-time employees and offering competitive benefits. Baker said, Ѓghe's maintained his low turnover rate by turning away workers looking for part-time gigs. Employees that devote 40 hours per week to the job and have opportunities for overtime work are more likely to stay with the company for the long haulЃh(Alpha and Omega, 2007, Ѓч6).

The human resources department at Alpha and Omega Building Services invests in its employeesЃf success by providing training to ensure that the employeesЃf cleaning knowledge is improved and constantly updated. Operational training, daily maintenance and an on-going adaptation of updates are provided to all employees for each piece of equipment they use in the performance of his or her daily cleaning assignments. To recruit employees who meet the staffing requirements and employees who are aligned with the organizational fit, Baker and the human resources staff responds to employee referrals and advertises in local newspapers.

Amersam

Amersham is a principal creator life sciences and medical diagnostics in the molecular medicine field, through the scientific development of diagnostic imaging, protein separations and discovery systems. Amersham corporate headquarters are located in the United Kingdom. They have 10,000 employees worldwide and sales of $2.54 billion. ЃgAmershamЃfs strategy is to become the leading provider of products and technologies enabling disease to be better understood, diagnosed sooner and treated more effectively, based upon a growing understanding of disease at the molecular level.Ѓh (Amersham, 2007,Ѓч2) AmershamЃfs sales organization includes offices