Riordan Benchmarking

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Date Submitted: 05/28/2008 12:13 PM

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Running Head: Riordan Benchmarking

Riordan Benchmarking

Team D

University of Phoenix

Pat Munson

MBA 530

February, 2008

Generic Benchmarking for Riordan

Riordan Manufacturing is faced with low job satisfaction and an increasing turnover rate. When combined with declining sales and uneven profits Riordan had to implement changes to their sales processes. Riordan new sales strategies are focused on customer relationship management system. This system uses a team approach to sales. Teams consist of sales personal, product engineering specialists and customer service representatives. Each team is specific to each customer segment Riordan manufacturing sells in.

Riordan has given employee satisfaction surveys and has hired an outside consulting firm to establish problem areas that need improvement to reverse the turnover rate and increase job satisfaction. The findings of the surveys and consulting firm report shows that work conditions, personal and career growth along with compensation to be the target areas that are driving job satisfaction down and increasing turnover. The benchmarking process can provide Riordan with useful information as to how other companies have dealt with similar problems and what results they can expect through implementation of new policies and their alignment with business strategies.

Work Conditions

Quicken Loans

Quicken Loans is an online mortgage company with headquarters in Lavonia, Michigan. Quicken has been in business for 22 years and has been ranked in FORTUNE Magazines, 100 Best Companies to Work for in America, each year. In 2007, the organization closed $19 billion in home loans. Quicken loans has 94% satisfaction rate and closes loans in all 50 states. The organization has over 4000 employees (Quicken Loans, 2008).

Dan Gilbert, founder and chairman of Quicken, indicates, “Employees enjoy working here because we’ve created a unique culture that is based on trust and empowerment. The key to...