Talent Management Strategies in Lloyds Bank

This report explores the talent management strategies used by Lloyds Bank to attract and retain employees. It discusses the importance of talent management within an organization and the stages involved in the process. The report also provides insights into the current talent management strategies used by Lloyds Bank and their significance in reducing employee turnover.

Managing a
Successful Business
Project

Contents
Introduction ....................................................................................................................................3
Introduction to the organisation ......................................................................................................3
Topic Background ...........................................................................................................................3
Aims and Objectives........................................................................................................................4
Research questions .....................................................................................................................4
Rationale of the research .................................................................................................................4
Significance of the research project ................................................................................................5
Project Management Planning ....................................................................................................5
Chapter 2: Literature review ...........................................................................................................7
Current Talent management strategies used by bank .................................................................7
Importance of talent management within an organisation ..........................................................8
Stages of Talent Management used by bank................................................................................8
Effects of ineffective talent management .................................................................................10
Challenges of talent management .............................................................................................10
Chapter 3: Research methodology ................................................................................................10
Work Breakdown Structure and Gantt chart for the Project on Lloyds Bank ..............................13
Questionnaire survey ....................................................................................................................14
Finding and data interpretation .....................................................................................................16
Chapter 4: Data analysis and discussion .......................................................................................21
Chapter 5: Personal Reflection .....................................................................................................24
Chapter 6: Conclusions, Limitations and Recommendations .......................................................26
Recommendation...........................................................................................................................26
References......................................................................................................................................28
Appendices ....................................................................................................................................30

Introduction
Organisations appoint people to complete different organisational function. To appoint
employees, the firm has to create certain inducement factors. The process is called attracting or
recruitment. After appointing a worker, the firm invests to increase employee’s contribution to
the organisational function. This is called employee retention (Joyce and Slocum, 2012). The
improper application of attracting and retaining causes employee turnover. The typical rate of
employee turnover is below 15%. There are different strategies organisations adopt for reducing
staff turnover and increasing employee retention percentage. Best companies of the UK such as
Tesco, Burberry, Sainsbury’s, British Airways, BBC, etc. apply a wide range of employee
retention strategy. This report contains a research on these strategies for evaluating how a
particular company applies strategies to attract and retain employees for long term within the
organisation. This is why it will be a project report on a conducted research on Lloyds Bank. The
firm provides financial and banking services to their customers. In order to maintain a large
workforce, the firm applies its all strategic wings.
Introduction to the organisation
Lloyds Bank is one of the oldest retail and commercial banks of the UK. It has been providing
banking and financial services since 1765. The organisation is running its operations for more
than 255 years. 45,856 employees are currently working in this financial service providing
company. The bank promotes cultural diversity. This multicultural workforce follows high
power distance culture. The organisational structure of Lloyds Bank is divisional structure.
Workers are appointed in each division for contributing within the nation. The latest
organisational report was published in 2019. The report shows an employee turnover rate of
17%. This is above the average turnover for multinational companies. This is why the current
research was conducted to identify organisational strategies in attracting and retaining employees
to the firm in long term.
Topic Background
Talent management is a mandatory strategic operation for business organisation. Employees are
the human resources for an organisation. They are to be retained in the organisation for two main
reasons, ROI of HR cost and reducing HR sourcing cost (Kollewe and Butler, 2020). Employee
retention strategy begins right from the orientation of an employee within a firm. Lloyds Bank

PLC is a large enterprise. They are experiencing high staff turnover. This reflects that there are
some gaps in their attracting and retaining strategies. Further strategic developments are needed
for improving the situation. This is why the topic has been selected to investigate gaps for
managing talents in the bank to improve those gaps for reducing employee turnover rate.
Aims and Objectives
Research aim
“To determine the various talent management strategies used by an organisation to retain
employees for long run” A case study on Lloyds bank plc.
Research objectives
i) To investigate current talent management strategies followed by Lloyds Bank
ii) To analyse the importance of talent management strategies for retaining employees for long
run.
iii) To determine the stages that are used by bank to make use of talent management strategies.
Research questions
The research has to investigate in the HRM strategies of Lloyds Bank PLC for the following
research questions. Finding these answers will succeed the research project and provide
knowledge about organisation’s strategies for talent management purpose.
a) Which current talent management strategies followed by Lloyds Bank?
b) What are the importance of talent management strategies for retaining employees for long
run?
c) What are the stages that are used by bank to make use of talent management strategies?
Rationale of the research
Lloyds Bank PLC is a leading financial organisation. Their HRM strategy for talent management
will provide me a lot of skills about project management and research projects. Because of the
knowledge and scope of learning, this research project was selected. This research is important
for the researcher because this helps them in knowing about the talent management strategies and
what techniques are used an organisation to retain employees for long run. This investigation is

important for investigator to conduct because this will enhance his knowledge and skills about
talent management strategies. This will enhance his communication skills and analytical skills.
Significance of the research project
Talent management is an inevitable context for organisations. The topic helps to retain
employees for a long period of time. This will support me following a particular aspect for
continuing development and overall organisational functions. The 21st century is all about skills
and knowledge. To improve the knowledge regarding talent management, I have selected this
research project. The importance of choosing this research project is that it will helps
investigator in knowi9ng about the talent management strategies and how they can help company
in retaining employees for long run. Retaining employees will results in increasing productivity
of bank.
Project Management Planning
Planning is the outlining process of different activities of a project. A range of factors are
discussed during the planning session to allocate resources efficiently during the project.
Efficient allocation of resource is prerequisite of completing a successful project. In project
management approach, the role of planning is considered as second priority for the manager
(Hook and Jenkins, 2019). The manager has to secure different ways to maintain the plan.
Associated cost, required time, scopes in the project, quality of the research outcomes, risk
assessment and mitigation policies, and resource allocation aspects are described in the planning
phases (Collings, Scullion and Caligiuri, 2019). This is the reason for prioritising planning. The
current project required developing project management plan. Each consideration was discussed
within the plan effectively for making an efficient allocation of resources.
Costing: The cost of the project was set about 1,50,000. as in this both primary and secondary
methods are used so this consumes a lot more amount. This research is conducting among 1,50
respondents. So this takers more budget. This will results in increasing of the financial resources.
Investigator is conducting this research in this amount because in this research is conducted
through questionnaire survey by which information and data is collected and this also consumes
time.
Scope: Practical experiences about project management and research were the principal scope
for conducting the research. Another scope of conducting the research project is acquiring in-

depth knowledge on talent management. For organisational management and HR management,
the knowledge about talent management is highly valuable. The knowledge provides a
distinctive outcome for business purpose. Research skill, practical understanding of project
management and opportunity to learn about talent management within the organisation are the
major scopes existing in the research project (Collings, Scullion and Caligiuri, 2019).
Quality: The quality of the research is justified from its results. During developing project
management plan, the quality assurance was properly completed. Research results or outcomes
will satisfy both the organisation and research stakeholders. By repeating the research with a
different sample, the result will be almost the same or lookalike.
Communication: The project was conducted using secondary research data during the covid-19
pandemic. Therefore, it did not require much communication. The only communication channel
existed between the tutor and the researcher.
Risk: The project management plan for conducting the research on Lloyds Bank PLC requires
assessing and minimising risks. The project is associated with several risks. The first risk is
availability of secondary data about talent management and Lloyds Bank PLC’s operation.
Libraries are closed. The next risk was to summarise secondary sources successfully (Adobor,
2014). In case of failing to summarise the secondary research, it would provide different research
outcome. The data safety is another risk. Collected data, report and other documents are needed
to be saved in the proper storage device.
Resources: The research project required gathering both tangible and intangible resources to
accomplish all the derived project milestones. Laptop was the intangible resource for conducting
all the secondary researches. Internet connection, research skill and use of knowledge in different
scenarios were intangible resources for the project. Each of them fulfilled the requirement for a
successful project completion.
Cost: The cost for undertaking the project and completing it is given in the following:
Particulars Amount (pounds)
Admin exp. 70000
Project exp. 40000

Controlling exp. 20000
Monitoring exp. 10000
Other exp. 10000
Total 150000
Chapter 2: Literature review
The purpose of this chapter is to review some relevant literatures with talent management
process. A range of concepts regarding the talent management process will be applied in this
chapter.
Current Talent management strategies used by bank
According to the views of Susan M, 2019, Talent management is an HRM activity to attract,
hire, develop and retain the most talented and suitable candidates for the organisation from the
available job marketplace. An organisation must appoint employees and build a productive
workforce. The concept of “productive workforce” is the basis of managing talent (The Best
Talent Management Practices, 2019).
If an organisation announces for hiring employees in marketing section, it will have intention to
hire candidates who have the most perfect knowledge about marketing and experiences to deal
with marketing. Otherwise, the efficiency will not occur at the firm’s workforce. Now, if the
most talented employee is hired, the organisation will need to make sure he works for a long time
without shifting the job in order to seek for a better employment opportunity at another
organisation. This is where the firm will have to apply employee retention strategies. The process
of attracting the most suitable candidate for a job position, appointing them in the firm,
developing their skills for organisations’ profitability and finally retaining them for the optimum
period of time is called talent management (Sparrow and Scullion, 2015). strategies that are used
by bank is providing proper training and development sessions to the employees so that they
could learn something new and enhancing their knowledge and skills. In addition, they also focus
on doing performance management programmes so that employees efficiency can be calculated

and according to that they provides rewards and recognisation. This will results in motivating
employees and they will work towards the achievement of gaols and objectives.
The HR department of a firm is responsible for completing every step of talent management.
Importance of talent management within an organisation
According to the views of Writer, 2020, Talent management increase employees’ productivity.
Employers seek for better efficiency and maximum productivity. HR is a must for maintaining
organisational outcomes. During the workforce planning, the organisation will need to consider
selecting the best candidate from the job marketplace according to his proficiency in knowledge,
skills and experience (Reis, 2016). Talent management approach introduces with the recruitment
process (Robbins, Judge and Campbell, 2017). The organisation announces job advertisement in
an attractive manner. Employees meeting the eligibility criteria apply for the position. This is a
filtering process for candidates. Within no time, employees are hired in the firm. As the firm
invests certain capital to train employees, they must need ROI. The importance of talent
management is applicable here as well. Training effectively will retain employees. Workers must
see the organisation as an opportunity to develop expertise (Krishnan and Scullion, 2017). In
short, talent management is the major method to improve an organisation’s workforce. This is
why it is given the maximum importance by HR department while executing any function.
Talent management strategies are more important for the company because it helps them in
achieving their gaols and increasing productivity of employees in effective manner. By this
employees will retain in the organisation for long time.
Stages of Talent Management used by bank
An organisation has to fulfil six stages to manage talent within the workforce. These stages are
described in the following with some organisational examples:
Planning for talent management: The first stage is to create a blueprint about talent
management process. The planning includes where a newly hired employee will be appointed.
The qualification requirements are also specified in the planning (Ohemeng and McCall-Thomas,
2013). For example, if Tesco requires some manpower at their sales department, the HR
department will have to plan specifically for hiring sales executives. Then, the HR will have to
conduct a plan about advertising the job announcement, selecting, and developing employee’s

effectiveness. Each sector of the planning phase is equally essential for applying talent
management strategy.
Attracting candidates: When the plan is completed, the talent management process enters into
the second stage. The second stage is for attracting employees who are actually eligible for the
position. In this process, a particular strategy is applied by the HR department called job
description. The organisation has to prepare a detailed job description to publish in the job
announcement platform. This is for giving an initial idea regarding the future responsibilities.
The job description works as a filtering process (Meyers, van Woerkom and Dries, 2013).
Candidates meeting no quality or qualification will be eliminated in this stage. Recruitment
creates a general awareness about the job in the market.
Selecting candidates for employing purpose: The third stage is to select the most suitable,
organisationally compatible and qualified employee to work in the workforce (Krishnan and
Scullion, 2017). Appointment of employees depends on a variety of factors. The candidate has to
pass interview or competency test to get appointed within the firm. In talent management
strategy, this stage requires applying “person-organisation fit” test. This test shows the actual
eligibility of candidates for working in the firm (Lewis and Heckman, 2016). For example, a
person with the experience of selling in a technological firm will not be compatible to sell in a
grocery shop. There are significant differences. The test will showcase computability. This is
why the strategy is mentioned for selecting candidates in the workforce.
Developing employees: Employees do not enter into an organisation with all knowledge, skill
and competency. The HR department has to undertake responsibilities for developing employees
according to the requirements. Employee’s development process depends on mainly training and
educating sessions (Krishnan and Scullion, 2017). The strategy is to train employees by
investigating their requirements. In talent management process, this stage is considered as a
turning point for employees. A newly entrant worker will look for development opportunities to
gain competitive advantage (Jones and Martain, 2013). The firm must retain the employee
showcasing how development opportunities are going to generate profitable outcomes for
employees.
Retaining: The purpose of talent management is to get the optimum ROI from organisation’s
capital investment. Employee retention is the main strategy to get the expected return on

investment. An organisation has to train its employees and spend for rewards to encourage in
putting more effort within the organisation. The cost of reward and employee recognition
programs are paid off when employees work for a long period of time. Their contribution shows
growth for the organisation eventually. A trained and skilled employee is an asset for the
organisation. The most important task in this situation is to keep the asset within the
organisational setting. Otherwise, another firm will snatch away the trained and skilled employee
with better salary and workplace benefits (Joyce and Slocum, 2012). Employee retention process
includes adding more benefit for qualified employees. When the employee satisfaction is
ensured, the employee will keep working in the firm for a long time.
Transitioning: The last stage that leads the talent management process in a circular process is
transitioning. The employee soon involves himself as a part of the organisational decision-
making. His importance increases and the firm will decide either the employee should continue
or not. Transition mostly takes place for employees who remain committed to the firm and keep
working for a long time. In transitioning phase, the strategy of continuous improvement is
applicable (Joyce and Slocum, 2012). Employees find their contribution effective in the
organisational context. This leads to improve business productivity through talent management.
Effects of ineffective talent management
Firstly, employee turnover rate of a firm will increase if talent management approaches are not
properly applied. Ineffective talent management showcases an ineffectiveness of the HR
department. At the same time, employees will not being able to cooperate with each other.
Conflicts will increase. Conflicts within the organisation leads to a problematic direction. These
are the main areas to affect from ineffective talent management process (Jones and Martain,
2013). The firm cannot attract candidates properly and hired employees cannot be retained for a
long term. It leads to a hike in the operational costing.
Challenges of talent management
Talent management process is hampered and faced obstacles because of some challenges. The
first challenge is lack of knowledge by the HR professionals of a firm. They are to be trained
about talent management appropriately. Their knowledge about talent management is the key to
apply strategies for employees. The second challenge is improper managerial decisions (Jones
and Martain, 2013). Employees may not be hired according to the competency framework. This
creates a challenge in applying talent management activities within the workforce.

Chapter 3: Research methodology
Introduction
Research methodology is commonly defined as the theoretical approach to conduct a research
project. It includes different theories and models of research methods, sampling technique and
corresponding factor. A research must select an appropriate research methodology for reaching
the project goal. A variety of research methodologies are considered for approaching in a
research project. Lloyds Bank PLC is not fully operating their business during the lockdown.
Therefore, the project applied several theoretical approaches of research methodology instead of
using all the necessary theories. However, these have provided effective results for the
researcher.
Methodologies
Primary and secondary researches are conducted varying on the scope, data availability and
available resources. Primary research methodology is the method to conduct a research from real
time data.
Primary data is collected mainly from stakeholders of the project. The purpose of primary
research methodology is to derive a certain result from current situation (Welman, Kruger and
Mitchell, 2015). Social distancing during the covid-19 pandemic has levied some restriction on
wandering for collecting primary data. It was not possible to reach out employees working in
Lloyds Bank PLC or the HR department. Therefore, primary research methodology will be used
using the virtual method of data collection. The questionnaire will be provided via email in this
respect. Employees will get the email and fulfil the result accordingly.
Secondary research methodology is a secondary resource-based research. The researcher will
avail information from a variety of secondary sources or third-party researchers to conduct the
secondary research. The only drawback in secondary research is the lack of current data and
understanding the data in different point of view (Mcburney and White, 2013). For example, the
HR report was published from Lloyds Bank. This is a secondary research resource. The report
will contain information collected for performance management. Even if there is a biasness in
the report, it will not be possible to notice unless conducting a primary research.
Data collection

Qualitative and quantitative data are required for completing a research appropriately.
Qualitative data is explicable data containing the explanation of each information gathered from
the source. On the other hand, quantitative data is the collection of empirical data containing
numerical figures to analyse the result of a research in a quantifiable manner. While collecting
secondary data from secondary sources such as newspaper, journal articles and books, both
qualitative and quantitative data collection processes were given emphasis (Mcburney and
White, 2013). This is a mixed research conducted using qualitative and quantitative data.
Sampling
A sample of 40 employees was selected using the simple random sampling method. They are
working in the Lloyds Bank PLC.
Approach
Deductive research approach was undertaken for fulfilling the research aim in the project.
Though it was a small scale research, deductive approach helps in interpreting data to deduct the
appropriate results from collected research data.
Philosophy
Interpretivism research philosophy was followed to conduct the research. The strategy of talent
management, especially attracting and retaining employees was interpreted using the data
available in the project (Mcburney and White, 2013). This is the reason for categorising it as
Interpretivism research philosophy.
Analysis
To analyse data, the researcher is going to use descriptive research data analysis method. This
has been a well-recognised data analysis method.

Work Breakdown Structure and Gantt chart for the Project on Lloyds Bank
The project has to reach its goal in part by part processes. The research project is broken down in
the format of WBS in the following:
Fig: WBS for the project
The project needed 10 weeks to reach the final goal. The Gantt chart presented in the following
was followed during the project execution stage:
Tasks 1 2 3 4 5 6 7 8 9 10
Research
methodolog
y
Secondary
data
collection
Data
analysis
Research
discussion
Reflective
writing
Reporting
Fig: Gantt chart for the research project on Lloyds Bank PLC

Questionnaire survey
Q1. According to you, do you know about talent management? Frequency
a. yes 30
b. no 20
Q2. According to you, do you think bank is effectively using talent
management strategies to retain employees for long run?
Frequency
a. yes 30
b. no 20
Q3. How will you rate the training provided by Lloyds Bank PLC? Frequency
a. Excellent 10
b. Very good 10
c. Average 5
d. Poor 5
Q4. According to you what talent management strategies are used in a bank
to retain employees for long?
Frequency
a. Align talent and strategy 10
b. Recognising top employees 5
c. Providing proper training and development 5
d. Provides opportunities for future 10
Q5. According to what challenges are faced by a bank? Frequency
a. Higher compensation demands 10
b. lack of leadership 10
c. increased employees turnover 10

Q6. According to you what improvements are being needed by bank? Frequency
a. Improves in training and development sessions 15
b. increase in rewards and appraisal 5
c. any other 10
Q7. Do you think the HR supports developing good employee relations? Frequency
a. yes 20
b. no 6
c. can't say 4
Q8. Why do you think employees leave from organisation? Frequency
a. No growth opportunities 15
b. less rewards and recognisation 10
c. less training provided 5
Q9. What recommendation will you give for retaining of a employee in a
bank?
Frequency

Finding and data interpretation
Q1. According to you, do you know about talent management? Frequency
a. yes 30
b. no 20
Interpretation
From the above graph, the overall research is conducted between 30 respondents. Out of
30 respondents, 30 are saying that they know about the concept of talent management and rest
other 20% not.
Q2. According to you, do you think bank is effectively using talent
management strategies to retain employees for long run?
Frequency
a. yes 30
b. no 20
Interpretation
a. yes
b. no
a. yes
b. no

It is analysed that 30% of the people think that bank is effectively using talent management
strategies and rest others not.
Q3. How will you rate the training provided by Lloyds Bank PLC? Frequency
a. Excellent 10
b. Very good 10
c. Average 5
d. Poor 5
Interpretation
It is analysed that 10% people says tarining provided by mangers is excellent. 10% other said
that they are working average and 5% says that they are providing poor training.
Q4. According to you what talent management strategies are used in a bank
to retain employees for long?
Frequency
a. Align talent and strategy 10
b. Recognising top employees 5
c. Providing proper training and development 5
d. Provides opportunities for future 10
a. Excellent
b. Very good
c. Average
d. Poor

Interpretation
Is is analysed that 10% people thinks that talent and strategy is the main strategy which helps
employees in retaining, 10% other thinks that providing opportunity is the another techniques.
Then 5% people thinks that recognising can use more in bank to retain employees for long run.
Q5. According to what challenges are faced by a bank? Frequency
a. Higher compensation demands 10
b. lack of leadership 10
c. increased employees turnover 10
Interpretation
10% of people thinks that higher compensation demands is the first challenge faced by bank.
Then other 10% thinks that increasing employee turnover is the another challenge which bank is
facing.
a. Align talent and
strategy
b. Recognising top
employees
c. Providing proper
training and
development
d. Provides
opportunities for
future
a. Higher
compensation
demands
b. lack of
leadership
c. increased
employees
turnover

Q6. According to you what improvements are being needed by bank? Frequency
a. Improves in training and development sessions 15
b. increase in rewards and appraisal 5
c. any other 10
Interpretation
15% people thinks that improving training and development sessions can improved by bank. 5%
thinks that increasing rewards will be improved by bank to retain employees.
Q7. Do you think the HR supports developing good employee relations? Frequency
a. yes 20
b. no 6
c. can't say 4
a. Improves in
training and
development
sessions
b. increase in
rewards and
appraisal
c. any other

Interpretation
20% people thinks that HR supports developing of good employees relations and 6% thinks that
employees don't think so.
Q8. Why do you think employees leave from organisation? Frequency
a. No growth opportunities 15
b. less rewards and recognisation 10
c. less training provided 5
Interpretation
In the above analysis, 15% people thinks that there are no growth opportunities that is why
employees are leaving and 10% people thinks that there is less rewards and recognisation. That is
why employees are leaving.
a. yes
b. no
c. can't say
a. No growth
opportunities
b. less rewards
and recognisation
c. less training
provided

Q9. What recommendation will you give for retaining of a employee in a
bank?
Frequency
Chapter 4: Data analysis and discussion
Secondary data analysis
Lloyds Bank has more than 700 branches in the UK. The firm applies talent management
approaches. However, there are some significant gaps. By using the discussion made in literature
review, the situation at Lloyds Bank will be evaluated. This will show us the areas of
improvement. Based on the areas of improvement, further policies will be provided to the
organisation.
Talent management processes and strategies at Lloyds Bank
The HR department of the bank has to maintain a large workforce. Annual 17% employee
turnover rate shows that employees are not satisfied working in the organisation. There remains
some issues within the talent management approach. These issues are making obstacles to
develop employee satisfaction. Employees are not satisfied and it is affecting the entire business
outcome (Hook and Jenkins, 2019). Stages of talent management included planning, attracting,
selecting, developing, retaining and transitioning. Each of the stages is mandatory for
maintaining a proper structure of the workforce. Lloyds Bank is losing the harmony in some
cases.
From evaluating the job descriptions of Lloyds Bank, the firm is showing detailed information
about any job announcement. The official website of the bank shows a particular section called
“career”. Any person will be able to login and see vacancy. The firm gets the opportunity to
attract employees to a 255 years old organisation. The employment opportunity is well-provided
through this approach. The next stage is selecting. Here, Lloyds Bank has lacking in testing
competency of employees. There is no particular test to apply the strategy of “Person-
organisation fit” test. Therefore, compatibility testing is failing. The lack of a compatibility
framework leads to a selection process that is improper for employees. The problem exists
exactly in this case (Collings, Scullion and Caligiuri, 2019). Furthermore, selection stage does

not have any dedicated group from the HR department. This means the initial planning was
faulty at Lloyds Banks. Further strategic development of the talent management plan is
necessary. Selection of employees is inappropriately applied in the organisation. Developing and
training of employees is the next section. Development means that employees should be given
with the opportunity to evaluate their performance and acquire further institutional coaching to
improve professional effectiveness. At this stage, the development fails to occupy its exact
position. Development programs at Lloyds Bank is organisational behaviour-centric. Employee’s
attitude within the firm is the principal concern. Though it is necessary, the bank should have
taken care of employee’s other hard and soft skills (Chabault, Hulin and Soparnot, 2012). In this
study, researchers conducted a primary research on employee’s desire for development
opportunity. The result was graphed as follow:
This would help in gaining a better chance to work in the firm. After development phase,
employees at Lloyds Banks are introduced with the organisational structure and culture. The firm
moves employees to the retaining stage.
Attracting and retaining are two vital stages in talent management process and Lloyds Bank fails
in both cases. Retaining means applying strategies like continuous improvement, rewarding,
recognising, etc. Employee retention will allow the firm to keep employees working for a long
time. But, the firm does not have any continuous improvement tool similar to its ineffective
compatibility framework (Adobor, 2014). If employees do not have any idea where they will find
their position after a certain period of time working in the firm, it will get tough to retain the
employee to the organisation. Further treatment will require to motivate employees. Employee
retention includes not only rewarding but also motivating employees to work at their best
capacity in the firm. Continuous improvement does not exist in the organisation’s talent
management process. Therefore, employees do not feel satisfied and motivated to spend rest of
their career here. They shift and employee turnover rate increases in Lloyds Bank. The last
strategic process of talent management is transitioning. This is a process that is motivated from
promoting the high performance working culture. Lloyds Bank will have to add this to the
organisational culture. HPW practice involves employees more to the organisation. A worker

feels valued when his opinion in the firm is taken with importance. Another research identified
this evidence. Employees feel motivated and more engaged if the firm values their opinion.
The firm lacks in this section too. It does not provide any scope of transitioning. Therefore,
employees are less motivated to work for Lloyds Bank. The recently covered mintel report on
Lloyds Bank shows that the number of skilled workers and trained employees working for at
least 5 years in the firm is decreasing (Kollewe and Butler, 2020). This indicates that whenever a
person is trained and skilled to contribute more for the firm, the organisation is failing to retain
him. In search of recognition, reward and better employment opportunity, the person is shifting
the job to another firm. Therefore, the upper level management of Lloyds Bank remains
decorated with less skilled and trained workers. Competitors are taking employees to their
organisations (Cone, 2019). This is reducing the competitive advantage for Lloyds Bank.
Therefore, the research showed a lacking in the strategy and process of talent management at
Lloyds Bank. The planning is inappropriate, selection process does not have any competency
framework to test compatibility of the employee, and transitioning fails for not recognising
employees. Prompt improvement is necessary in these sections according to the analysis of
secondary data collected from a wide range of third-party sources. This was the entire research
result from the small scale research.

Chapter 5: Personal Reflection
As a researcher, I successfully completed the research project. This was a research project based
on secondary data. To succeed in the research, I had to achieve three objectives. By meeting all
three objectives through the project, the project is claimed to be successful for me.
The first objective in the project was to analyse ongoing talent management strategies in Lloyds
Bank. I used models and theories from the literature review section to implement in the
secondary research data analysis and discussion. This showcased how different processes and
strategies are being applied in Lloyds Bank. Strategies like rewarding and job description are
being considered for organisation’s talent management approach. In the meantime, I have
noticed that, the firm is not applying some basic strategies of talent management to attract and
retain employees. For example, the firm does not have any future or long term planning with
their employees. This is deteriorating the confidence of employees. As a result, the situation is
getting worsened for employees. They are shifting their job and the firm is suffering from
employee turnover. From this point of view, I achieved both the first and the second research
objectives. The last objective in the project initiation was to recommend some effective strategies
and suggestions to improve the ongoing situation at the organisation regarding talent
management. As the problems or gaps have been identified, the rest of the process will be more
convenient. Specific recommendations can be provided to Lloyds Bank for improving their talent
management process. I am satisfied with my performance as research project manager.
I want to rate my performance 5 out of 5 because of applying all the effective research methods
to reach the result. Though I did not gain opportunity to apply primary research methodology,
the project will help me in becoming an effective research manager. I have practically
implemented all the principles of project management. In every stage, I have monitored and
evaluated my performances. Therefore, I will be able to create a better career in any organisation
for having the idea on how employees can be managed. My knowledge increased about talent
management.
The only problem that I faced during the entire research project was lack of time to elaborate
data for a better understanding. Time was limited and there were plenty of points to discuss. I

solved the issue by including every necessary point either in literature review or secondary
research analysis to present the data. The presentation will help in signifying proper result.
I mitigated the risk of data breach by preserving the information in a portable storage. Otherwise,
every section of the project went successfully and perfectly for me. The project allowed me
exploring inner strengths and strategies to manage a large task and achieve results without facing
much trouble. In short, I enjoyed the research that allowed me practice my theoretical knowledge
about research methods and project management. This is why it was a successful project to me.
The model which is using in this is Gibbs model as in this model starts with description and ends
with action plan. As in this first description is made by me that what did I experience. Then the
next stage is feeling as what did I experience about my studying of books and surveys at the time
of collecting data and information. Then next is evaluation- in this I had made the evaluation
which information is correct and which is not. Then analyses is done by me that what
information I have to collect and what. And accordingly I made analysis according to the
situation. Then I made conclusion that bank should provide certain talent management strategies
to the employees so that they will retain in an organisation. At last I made an action plan which
states that how I have to deal with my situations. As I have faced certain issues and challenges
like lack of financial resources and lack of stress management. So I have worked on both of my
weaknesses and completed my project on time.

Chapter 6: Conclusions, Limitations and Recommendations
Lloyds Bank requires changing their HR strategies for talent management. The firm is suffering
from applying strategies appropriately within the workforce. There were lacking in the process,
strategy and integration. The HR department of the firm and employees are not showing positive
result. Further development requires for the organisation’s attracting and retaining policies.
Lloyds Bank is an old organisation in the UK. Therefore, the opportunity to implement a range
of strategies on the workforce will reduce employee turnover rate. The firm has to come up with
some exclusive ideas and unique ways for keeping employees motivated to their contribution
within the organisation. Mainly, the HR department does not have the knowledge about modern
HR practices at Lloyds Bank. Their strategies are not being accepted and appreciated. Therefore,
the organisation is suffering with productivity, employee turnover, and profitability. Increasing
rate of employee turnover is increasing conflict among workers. Therefore, the firm will need to
apply prompt steps for getting a viable result in talent management strategies.
During the research, we faced some limitations. The use of time and scheduling was inadequate.
A greater access to time and managing resources using time would help in improving the result.
The last limitation was conducting online research. There was no access in library or university.
Virtual platform for conducting primary and secondary research creates a variety of limitations
in the study. Each limitation was overcome with application of appropriate theoretical model and
approaches.
Recommendation
The research project illustrated some gaps existing within Lloyds Bank. Below steps and
strategic developments are necessary to fill these gaps and generate a better workforce situation
in Lloyds Bank. These recommendations are:
a) Compatibility framework: In the selecting process, the organisation will need to come up
with a compatibility framework to identify whether the employee can match with organisational
culture or not. This must be included in the job description of the organisation. During the
recruitment stage, this note will help employees with certain qualification to apply for the
position.

b) Continuous improvement: Employees are not getting modern corporate culture in Lloyds
Bank because of the lacking in continuous improvement. The firm has to retain employees by
showing the concern from their development opportunities. If employees feel safe and can find
more opportunity in the organisation, it will be easier to retain. If employees are retained, this
culture will provoke other candidates to cherish for working in the firm. Thereby, employee
turnover rate will decrease and retention rate will increase.
c) High power working practice: Employee retention is dependable on employee engagement.
Employee engagement is dependable on employee’s motivation to work in the firm. The
motivation and treatment for employees will be possible only when Lloyds Bank will promote
the modern high power working culture in the workforce. Power culture in the organisation is
affecting workers to get involved within the organisational development. Therefore, they are
putting their effort for economic benefit only. When the new policy regarding the high power
working practice will be promoted, the organisation will experience an improved employee
engagement. This leads to gain competitive advantage as well. The firm will be able to create a
distinctive talent management strategy in this purpose.
It is recommended that bank should more focus on talent management strategies such as training
and rewards management so that they can concentrate on their work and increase their
productivity. They should provide certain skills and knowledge which will helps them in
achieving organisational gaols and objectives.
In short, these three gaps were identified in talent management approach at Lloyds Bank.
Improving these gaps will eliminate complexities and generate a better organisational outcomes.
This was the key aspect to consider as recommendations for the firm.

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Appendices
Project logbook
S.no. Activities Action
Week 1
1 Update on week’s work Designing the research project
2 Problems encountered and
how did you handle that
There were too many project sources
3 Tasks for the next week Defining project methodology
4 Any risks and/or issues
identified?
No
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
S.no. Activities Action
Week 2
1 Update on week’s work Research project methodology
2 Problems encountered and
how did you handle that
No problem was identified
3 Tasks for next week Secondary data collection
4 Any risks and/or issues
identified?
No risk was identified
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
S.no. Activities Action
Week 3-5
1 Update on week’s work Secondary data collection
2 Problems encountered and
how did you handle that
The number of sources is large in size.
3 Tasks for next week Data analysis
4 Any risks and/or issues
identified?
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
S.no. Activities Action

Week 6-7
1 Update on week’s work Data analysis
2 Problems encountered and
how did you handle that
No problem was encountered
3 Tasks for the next week Research discussion
4 Any risks and/or issues
identified?
No risk was identified
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
S.no. Activities Action
Week 8
1 Update on week’s work Discussion
2 Problems encountered and
how did you handle that
No problem was encountered
3 Tasks for the next week Reflective writing
4 Any risks and/or issues
identified?
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
S.no. Activities Action
Week 9
1 Update on week’s work Reflective writing is going good
2 Problems encountered and
how did you handle that
There were no problem during the project
3 Tasks for the next week Reporting
4 Any risks and/or issues
identified?
Reporting of a project is a hard thing to accomplish.
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
S.no. Activities Action
Week 10
1 Update on week’s work Reporting
2 Problems encountered and No problem was identified

how did you handle that
3 Tasks for the next week This is the last week
4 Any risks and/or issues
identified?
No risk.
5 Project pan status to date On target
6 Remarks by Lecturer (if any) Use lecture slides and tutor notes for guidance
7 Name and signature (student)
Questionnaire
Q1. According to you, do you know about talent management?
a. yes
b. no
Q2. According to you, do you think bank is effectively using talent management strategies to
retain employees for long run?
a. yes
b. no
Q3. How will you rate the training provided by Lloyds Bank PLC?
a. Excellent
b. Very good
c. Average
d. Poor
Q4. According to you what talent management strategies are used in a bank to retain employees
for long?
a. Align talent and strategy
b. Recognising top employees
c. Providing proper training and development
d. Provides opportunities for future

Q5. According to what challenges are faced by a bank?
a. Higher compensation demands
b. lack of leadership
c. increased employees turnover
Q6. According to you what improvements are being needed by bank?
a. Improves in training and development sessions
b. increase in rewards and appraisal
c. any other
Q7. Do you think the HR supports developing good employee relations?
a. yes
b. no
c. can't say
Q8. Why do you think employees leave from organisation?
a. No growth opportunities
b. less rewards and recognisation
c. less training provided
Q9. What recommendation will you give for retaining of a employee in a bank?