Management Strategies to Attract and Retain Talented People

Management
strategies applied by
organisation to attract
and retain talented
people

Table of Contents
Table of Contents.............................................................................................................................3
Title: ‘What management strategies applied by organization to attract and
retain people”- A Case study Ernst & Young.......................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Formulate project aims and objectives for a chosen scenario................................................1
LITERATURE REVIEW................................................................................................................2
P2 Description of project management plan that consider cost, scope, time, quality,
communication, risk and resources..............................................................................................4
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion..............................................................................................................................5
TASK 2............................................................................................................................................8
P4 To carry out the small scale research by using the primary and secondary method that
covers aims and objectives..........................................................................................................8
TASK 3..........................................................................................................................................10
P5 Analyse research and data using appropriate tools and techniques......................................10
P6 Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................15
P7 Reflection on the value of taking the research to meet stated objectives.............................15
CONCLUSION..............................................................................................................................16
REFERENCE................................................................................................................................18

Title: ‘What management strategies applied by organization to
attract and retain people”- A Case study Ernst & Young
INTRODUCTION
Managing a successful business is important for each business concern as it develop the
business performance and increase the profitability. Being successful a business owner there is
requirement of brilliant idea and skills which can be used to introduce the new products and
services that can help to operate the business and attain the higher performance (Englund and
Graham, 2019). Herein, people learn and manage and grow the activities by focusing on each
function. The management is a person who conduct the research in market to know what people
wants and how they can be satisfied. The current report is based on Ernst & Young that are
multinational professional service network headquarter in London, England. This is one of the
largest professional service in whole world where it provide assurance, tax, consulting, and
advisory services to its clients. This can help to operate the business regularly and accomplish
the goals effectively. This report covers project aims and objectives, project plan involving cost,
scope, time, quality, communication and resources, work break down structure, research on the
basis of secondary and primary method, data analysis tools and techniques, reflection and project
management process which can help to develop the understanding effectively.
TASK 1
P1 Formulate project aims and objectives for a chosen scenario
Overview of the Research:
For every business organization it is important to decide the project and perform their
actions accordingly. Ernst & Young is the large size professional service provider organization
that operates its business by managing each function and activities properly. The management
identify the requirement of people at the workplace and recruit talented people who performs
well by contributing in each activity. This organization maintains strong position at the global
market with the help of skilled people and makes the right decision for the betterment of its
employees and organisation (McVay Lynch and Roecker, 2019). The management of such
organisation understand the requirement of their customers and provide the products and services
accordingly. The aims and objectives of current project are as defined:
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The aim of research : To explore management strategies and their importance in
attracting and retaining of people. A Case study on Ernst & Young
Objectives of the research: The objectives of the research are:
 To analyze the basic understanding about management and its important at the
organization.
 To identify the management strategies which can be applied by Ernst & Young to
attracting and retaining the top talent?
 To determine the benefits of management strategy that are taken by organization for
improving business performance.
Research Questions:
 What is conceptual framework of management and its significance in the organization?
 What management strategies can be applied by Ernst & Young to attracting and retaining
the top talent?
 What benefits of management strategies are getting by Ernst & Young that leads to
improvement in performance?
LITERATURE REVIEW
The basic understanding about management and it’s important at the organization.
As per opinion of Anderson (2020), Management is the administration of organization
that involves planning, organizing, directing, and controlling the company functions in order to
attain the business goals. This is important for each organization to understand require of their
employees and make efforts to satisfy them that can help to increase the business performance.
In other words, management is process of dealing with managing and controlling the things and
people. In each organization management is important as it understand the require of employees,
motivating the staff, getting the work done, communication and guidance, innovation, and
solving problems that can help to operate the business and increase the profitability. In Ernst &
Young, management is most important as it is used to managing and handling its professional
services and developing the business effectively.
The management strategies which can be applied by Ernst & Young to attracting and retaining
the top talent?
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As per view point of Kohl (2019), Management strategies is the kind of planning which is
formulated by management in order to operate and regulate their business effectively.
Management is important for each organization as it identify the vacancy and fill it by recruiting
and selecting the right people at the workplace. Ernst & Young is the large size organization
which is running and managing by the human resource management by recruiting and selecting
the best people as it helps to accomplish the business goals. This organization is applying the
different management strategies to attracting and retaining the top talent such as:
Filling employees needs and expectation: Employees are the assets of organization where
management is playing role of identifying the needs and make efforts to fill them by applying
this strategy.
Motivation – The management of company know the problems of their employees who
works at the Ernst & Young and provide optimum solution that can help to motivate the staff to
work effectively and manage each function by reducing employee turn over (Groarke and Durst,
2019).
Collecting feedback and implementing the suitable changes: This management strategy is
applying by HR of Ernst & Young by collecting the feedback from their employees and making
the appropriate the changes which can help to develop the business performance.
Different benefits of management strategy that are taken by organization for improving business
performance.
As per view point of Lee (2019), Management planning is the important task for
companies where human resource management introduces different strategies and planning to
run business and increase the performance. This can help to bring the changes in existing
performance and develop the business productivity in changing environment. In context to Ernst
& Young, different management strategies are applied by management that helps to improve the
business performance and productivity. This can help to fill the vacant position by selecting
skilled people, motivating the staff, providing training that helps employees to accept the
challenges, inspiring to work hard, filling their needs, understanding the problems and providing
benefits and handling the all functions which can help to retain the employees for long period
and attaining the competitive advantages effectively.
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