Talent Strategies for Attracting and Retaining People: A Study of Marks & Spencer

This report explores the talent strategies used by Marks & Spencer to attract and retain people. It discusses the advantages and disadvantages of talent management, the strategies implemented by Marks & Spencer, and the challenges faced in managing a skilled workforce. The report also includes a project management plan, work breakdown structure, Gantt chart, and research methodology.

Managing a Successful Business
Project

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1: Devise clear aims and objectives for your project................................................................1
P2 Produce a project management plan that covers, aim and deliverables, time, quality,
communication, risk and resources..............................................................................................2
P 4 Produce a work breakdown structure and Gantt chart to provide timeframes and stages for
completion...................................................................................................................................3
P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives methodology.............................................6
TASK 3............................................................................................................................................9
P5. Analyse research and data using appropriate tools and techniques.......................................9
P6. Communicate effective suggestions as outcome of finding and data analysis....................14
TASK 4..........................................................................................................................................15
P7 Reflect on the value of undertaking the project to meet stated objectives and own learning
and performance........................................................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

RESEARCH TITLE: What talent strategies do the best companies use to attract and retain
people. A study of Marks & Spencer.
INTRODUCTION
Talent management is considered as one of the essential part of firm as well as this drives
towards having affect upon whole business performance and productivity. Moreover, this is
defined as the procedures of attracting as well as retaining staff that are much competent for
attaining objectives (Makkonen, 2020). For this report, the undertaken company is Marks &
Spencer which is known as one the British multinational retailer having headquarters is in
London, England. It basically experts in selling food products, home products and clothing under
their own brand name. It operates in around 29 countries and Hong Kong. Also, it has 198
franchised outlets along with 19 directly owned shops in Hong Kong. These topics that are going
to be covered in this report are project aim, objectives and planning related to managing project.
Moreover, the time frames along with literature are also explained. Apart from this, the research
methods, data analysis and recommendation are also discussed in this report.
TASK 1
P1: Devise clear aims and objectives for your project.
Introduction
Talent management is considered as strategy which is used by a company for managing their
employees so that they feel motivated and encourage to perform effectively. The respective
section of project include information related to advantages and disadvantages of talent
management along with its strategies.
Advantages of talent management
The advantaged gain by Marks and Spencer by conducting talent management are they able
to retain the top talent as well as it also leads to better hiring. This will also leads to motivating
employees so perform in best manner. Moreover TM also help in taking better professional
decision successfully.
Disadvantages of talent management strategy
There are several disadvantages of talent management strategy which are experienced by
Marks and Spencer such as it exceed their budget. In addition to this, it also leads to conflict
among workers which affect their productivity as well as it limits the leadership.
1

Talent management strategy
There are numbers of strategies which can be adopted by Marks and Spencer for conducting
talent management such as they do talent planning, talent acquisition, performance management,
hiring of best person and many more(Oyarzun, Martinand Moore, 2020).
Research gap
The research gap in respective project is related to the lack of resource as for conducting
respective project, project manager required several resources but they get it in the limited ratio.
Due to which they not able to gather most appropriate as well as authenticate information for
project.
Background of the topic and organisation- This research document will consider
information about talent management and preservation that is a procedure of managing and
keeping talented workers of the company and devise an efficient engagement in the development
and progress of the organisation (Marinakou and Giousmpasoglou, 2019). Furthermore, research
project will include information about research techniques, methods of data collection which is
used to collecting appropriate and reliable information for attaining the research objectives in
more developed manner.
Marks & Spencer is a British multinational company that was incorporated in 1884 and is
headquartered in London, England, UK. The company runs its business at international scale
with the assistance of its estimate 959 outlets and commodities like clothing, food items and
home products etc. This company provide commodities of diverse brand such as Per Una,
Autograph, Limited, Roise, Blue Harbour, M&S collection and M&S energy etc. There are
approx 80,000 workers are employed by this firm and they make they involvement in running the
business activities and operations in more effective form.
Research aim- “To analyse the strategies that are implemented by establishment to attract and
retain talented workforce. A case study on Marks & Spencer.”
Research objectives
 To understand the conception of talent management and preservation.
 To monitor the plan of actions which is executed by the administration of M&S in term
of retaining skilled manpower.
 To determine the confronts that are suffered by M&S in form of administrating and
preserving individual within M&S.
2

 To examine the essentialness of retaining and administrating talented people of firm.
Research Questions
 What is the concept of talent management and retention?
 What are the strategies that is utilised in term of retaining and administrating workers?
 What are the challenges which suffered by M&S to manage its skilled workforce?
 What is the importance of talent management?
P2 Produce a project management plan that covers, aim and deliverables, time, quality,
communication, risk and resources.
Project management plan is considered as technique through which a project manager
showcase all the effective elements of the project. Moreover it also help them in conducting
planning for the further accomplishment of work successfully (Reedand Angolia, 2020). The
main elements which covered in project management plan are aim and deliverables, time,
quality, communication, risk and resources. Below explanation of these elements are given in
respect of this project:-
 Cost – It is consider as cost which is required by project manager in order to complete the
project successfully. The cost required for respective project is £ 1000 for complementing
project successfully.
 Time – It is determined as time duration which is needed by a project manager in order to
conduct all the work in proper way so that they attain desire goal. The respective project
will start on 12th October 2020 and end at 20th December 2020.
 Quality – In is related to strategies which is used by project manager for maintaining the
quality of research. In respect of this research for maintaining the quality manager is
adopting strategies like provide training, do evaluation at every stages, determine risk and
so on.
 Communication – It is determined as methods which is used for conducting
communication. In this project, manager will conduct meeting as well as provide email in
order to do communication.
 Risk – This is related to risk which involve in project. The risk involve in respective
project are not attainment of desire outcome, lack of resources at the end, other not
understand the objective and so on(Shirley, 2020).
3

 Resources - This element showcase resources which is required by researcher for conduct
research. The research need for this project are time, money or funds, skilled employees
and so on.
P 4 Produce a work breakdown structure and Gantt chart to provide timeframes and stages for
completion
Work breakdown structure
Work breakdown structure is considered as method which is used to getting a complex,
multistep project done (What is Work Breakdown Structure in Project Management?, 2020).
Through this project manager divide as well as conquer huge project so that they get the work
done in effective and faster way. It is generally a hierarchical tree structure which outline about
the project as well as breaks it down in small section so that work can be done fast and properly.
Work breakdown structure is determined as technique which generally divides all deliverables of
project into the sub deliverables (What Is Work Breakdown Structure?,2020). Through this
project manager and team manage work properly which leads to attainment of their desire goal
successfully as well as on time. In this all sub deliverables get its own budget as well time
estimation.
4

Gantt chart
Gantt chart is a helpful graphical instrument which shows exercises or errands performed
against time (Definition of 'Gantt Chart',2020). It is otherwise called visual introduction of a
venture where the exercises are separated and shown on an outline which makes it is
straightforward and decipher.
Gantt chart is a venture the board apparatus aiding the arranging and planning of tasks,
everything being equal, in spite of the fact that they are especially helpful for rearranging
complex undertakings (What is a Gantt chart?, 2020). Undertaking the board timetables and
assignments are changed over into a flat bar graph, demonstrating start and end dates, just as
conditions, booking and cut-off times, including the amount of the errand is finished per stage
and who is the assignment proprietor.
5

P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives methodology.
Research methodology
This indicates specific methodologies to carry out, picked up and explain details regarding
analysis subject matter. This is as arranged that systematic analysis, examine, inquiry and
inspection (Pandita and Ray, 2018). This is an action of collecting data for giving corporate
6

commitment. This also helps in explaining and inspection of market that is applied for resolving
future time problems of an enterprise. This is expressing the corporate problems, creation of
theory, and resolution of data and examination of market.
Qualitative method- This is a process which tangles meaning of particular analysis of
examination judged on type of quality to find out what response and output is examine. This is
basic explained data. This is a technical way of collecting data that is monitoring of gathering
data in non statical data of focused theories, recommendations and inspiration. This is most
beneficial way to recommend developing parts, issues, effectiveness and active action. This
supposes lots of time and money because of collecting more information, explaining and
conversing them become very long.
Quantitative method- In this method, the data is gathered in level type, units to project
graphs, rows and column in tables. It defines in a specific type with the instrument of
mathematical, numerical, graphs, bars and tables. The collection of information is in numerical
way such as pools, quiz, observation, online observation, telephone, report, conference, mail and
so on (Narayanan, Rajithakumar and Menon, 2019). This collect relative and precise data that is
collect in simpler type by inspector and good for inspection and develop theory with more scope
of data collecting. As improper and insufficient data of approach of numerical testing may affect
unfavourably to map and inspect data because of long specimen is required for attractive data.
Mixed research- It indicates to an embryonic method of research which advances the
systematic addition o mixing of quantitative and qualitative data within a single research or
sustained program of research. In this method, the researcher assembles information to assess
individual’s knowledge and risk perceptions and close ended questions and both forms of
information are integrated and determined.
Make the determined analysis theories, this can be observed that for the achievement of this
analysis topic in precise way, the surveyor can use qualitative method (Gupta, 2019). Inspector
decides this instrument as it beneficial in collecting best and direct data regarding particular
project. With the help of research topic, investigator can receive more and long information that
can be helpful in getting project targets and motives.
Data collection tools
7

This directs to such methods and instrument which are used by the investigator I’m
gathering information. Basically these are two types and centre of collecting data, which are
explained below:
Primary source- By the help of gathered information instrument, investigator can gather
correct and direct data by making one hand communication and talk. Few are different types like
group discussion, conference, quiz, etc. due to this investigator can collect relative and precise
information.
Secondary source- This directs third party data which is available in advance on various
location and gathered as well used by another persons. There are various methodologies like
government sites, magazines, books, topics, inside collection of organizations, projects and
websites, journals and so many things which the investigators in collecting the information.
With the main centre of information gathering, this can be mapped that in present analysis
project, the investigator ordered the main centre of information gathering as it is valuable to
collect correct data and relative data from decided type of specimen. In the present analysis
projects, the analysis can use quiz as a instrument of data collection.
Sampling- This is a instrument and techniques which is used by a corporative enterprise to
decide and classify a micro specimen for large unit of person and public (Akunda, Chen and
Gikiri, 2018). This helps the investigator in collecting precise and relative data to make the
analysis project successful. In the following project paper, the investigator decides size of 10
persons from employees of Marks & Spencer and follows simple random sampling.
Questionnaire-This directs a handy paper which contains chain of inquiry or a span of
enquiry to gather correct information from its focused and chosen amount of persons. This is an
main instrument as by completing this method, the investigator can immediately contact and
make conversation with persons and collect relative suitable data as per requirement.
TASK 3
P5. Analyse research and data using appropriate tools and techniques
Theme 1:
Q1. Are you familiar with the concept of talent management and
retention?
Frequency
(a) Yes 6
8

(b) No 4
Interpretation- This has been summarised from the preceding visual communication that
among the population of 10 participants 6 are viewed that they are well aware with the
conception of talent retention and management whereas remaining 4 are replied that they are
known with this sort of concept.
Theme 2:
Q2. What are the plans of actions which are executed by the
administration of M&S in term of retaining qualified and skilled
workforce?
Frequency
(a) Peron organisation fit 3
(b) Reward and compensation 7
Interpretation- From the above described numeral data, it has been analysed that among
the number of 10 participants, 3 workers are agreed with person organisation fit that it is a
effective tactic to administrate workers. Whereas remaining 7 are supported to compensation and
reward is crucial for retaining skilled manpower.
9

Theme 3:
Q3. Are you agreeing that these strategies will assist in
managing talented workers in M&S?
Frequency
(a) Yes 8
(a) No 2
Interpretation- This has been monitored from mentioned graph that between the number
of 10 people, 8 are agreed that the strategies of talent management that are used by M&S are
effective and will assist in managing knowledgeable employees. Whereas enduring 2 workers are
disagreed with this that the techniques of respective venture are not sufficient to retain workers.
Theme 4:
What are the challenges that suffered by the management of
M&S due to lack of talent management?
Frequency
(a) Enlarge employer turnover 1
(b) Lack of leadership 9
10

Interpretation- It has been analysed that among the quantity of 10 responders, 1
employee is reviewed that high employee turnover is the key confront for M&S due to lack of
talent management. While enduring 9 individuals are supported to lack of leadership is the key
challenged of talent management and retention.
Theme 5:
Q5. In which term and form Talent management is crucial for
Marks & Spencer?
Frequency
(a) Development of company 4
(b) Retaining high performance workforce 6
Interpretation- From the preceding defined information, it can be summarised that
among the number of 10 responders, 4 are responded that development of organisation is the
main essentialness of talent management whereas remaining 6 are agreed with retaining immense
executive workers is the key importance of retention and management of talent.
Theme 6:
Q6. What is the major function played by the administration of
M&S for developing manpower?
Frequency
(a) Training and development 7
(b) Supporting problem solution 3
11

Interpretation- This has been determined form the motioned graphical representation
that among the population of 10 individual, 7 are sustained with training and development is the
appropriate option that play an adequate function in enhancement of retaining skilled workers.
While enduring 3 employees are agreed with supporting problem solution is an effective function
in term of retaining workforce.
Theme 7:
Q7. In which manner, administrators of M&S are engaged
regarding managing top talent within the firm?
Frequency
(a) Empower accountable workers 4
(b) Provide opportunities to grow 6
Interpretation- From the above defined information it has been summarised that
between 10 participants, 4 are responded that in M&S manager are involved in term of motivate
12

responsible employees and enduring 6 are sustained with offer effective development
opportunities is the form in which administrators of respective venture are engaged.
Theme 8:
Q8. Does the organisation have any particular Talent
management initiatives in workplace?
Frequency
(a) Yes 7
(b) No 3
Interpretation- From the defined information, it has been concluded that among the
population of 10 people, 7 are agreed that the venture have any particular talent management
initiative in working environment. Whereas remaining 3 are supported to does not have any
initiative regarding talent management in the place of work.
Theme 9:
Q9. How does the management of M&S identify talent? Frequency
(a) By competencies 2
(b) By potential 8
13

Interpretation-It has been analysed that among the number of 10 employees 2 re
responded that the administration of M&S finds out talent by skills while enduring 8 are
supported or sustained with by potential in term of identify talent within company.
P6. Communicate effective suggestions as outcome of finding and data analysis
This has been concluded from the defined information that cause of administration and
retention of talented and skilled employees, there are diverse confronts suffered by the
administration of establishment such as maximise turnover and lack of leadership (Ambrosius,
2018). In context of get over, these issues and challenges, there are some suggestions that can be
included through the administration of Marks & Spencer:
 By organising training and development programmes with the establishment after a
specific time duration, the company can preserve talented and skill workforce, In addition
this, they can treat all manpower in similar form regarding offering training and
development opportunities so that they can make development in their personal as well as
professional area.
 In addition to this, by remunerating and rewarding workers on the base of their execution,
It will help in preserving skilled talented individuals are remunerated or their effective
execution in the firm as when individual are compensated for their effective execution
then feel encouraged and work with their all efficiency.
TASK 4
P7 Reflect on the value of undertaking the project to meet stated objectives and own learning and
performance.
I feel pleased for obtaining such chances of performing a research project upon wider topic.
Moreover, I used both primary as well as secondary sources of data collection which assisted me
through facilitating relevant information related to give topic. Additionally, with assistance of
both secondary as well as primary methods, I accomplished the aim and objective of project in
effective way. In addition to this, by performing respective research, I can able to improved my
some competencies such as research skills that are time management, effective communication
skills, appropriate information accumulation skills and others. With utilization of these
competencies, I can simply able to performed whole task s effectively and efficiently. Beside
this, by performing this research, I also faced some problems like shortage of resources, time and
14

others. All these had somehow affected my level of performance. Rather than these, I also
utilized Gantt Chart in order to overcome from the problem of time management and can able to
accomplished whole practices systematically.
CONCLUSION
Based upon the above report this has been concluded that, talent management plays essential
role within entity as it is vital for business development and growth as it is helpful to attract and
retain competent staff. Moreover, project management plan assists in providing detailed
information about various things such as risk that occurs, estimated cost and many more. In
addition to this work breakdown structure and Gantt chart are to understand the time taken for
each activity. Along with this, data analysis is performed which is helpful in knowing the
response of various people upon respective topic. Apart from this, some recommendation are
provided for improvement.
15

REFERENCES
Books and Journal
Akunda, D., Chen, Z. and Gikiri, S.N., 2018. Role of HRM in talent retention with
evidence. Journal of Management and Strategy, 9(2), pp.8-19.
Ambrosius, J., 2018. Strategic talent management in emerging markets and its impact on
employee retention: Evidence from Brazilian MNCs. Thunderbird International Business
Review, 60(1), pp.53-68.
Cui, W., Khan, Z. and Tarba, S.Y., 2018. Strategic talent management in service SMEs of
China. Thunderbird International Business Review, 60(1), pp.9-20.
Dahshan, M., Keshk, L. and Dorgham, L.S., 2018. Talent Management and Its Effect on
Organization Performance among Nurses at Shebin El-Kom Hospitals. International
Journal of Nursing, 5(2), pp.108-123.
Gupta, V., 2019. Talent management dimensions and their relationship with retention of
Generation-Y employees in the hospitality industry. International Journal of
Contemporary Hospitality Management.
Marinakou, E. and Giousmpasoglou, C., 2019. Talent management and retention strategies in
luxury hotels: evidence from four countries. International Journal of Contemporary
Hospitality Management.
Marinakou, E., 2019. Talent Management and Retention in Events companies: Evidence from
four countries. Event Management, 23(4-5), pp.511-526.
Narayanan, A., Rajithakumar, S. and Menon, M., 2019. Talent management and employee
retention: An integrative research framework. Human Resource Development
Review, 18(2), pp.228-247.
Nayak, S., Bhatnagar, J. and Budhwar, P., 2018. Leveraging social networking for talent
management: an exploratory study of Indian firms. Thunderbird International Business
Review, 60(1), pp.21-37.
Ott, D.L., Tolentino, J.L. and Michailova, S., 2018. Effective talent retention approaches. Human
Resource Management International Digest.
Oyarzun, B., Martin, F. and Moore, R.L., 2020. Time management matters: Online faculty
perceptions of helpfulness of time management strategies. Distance Education, 41(1),
pp.106-127.
Pandita, D. and Ray, S., 2018. Talent management and employee engagement–a meta-analysis of
their impact on talent retention. Industrial and Commercial Training.
Poisat, P., Mey, M.R. and Sharp, G., 2018. Do talent management strategies influence the
psychological contract within a diverse environment?. SA Journal of Human Resource
Management, 16(1), pp.1-10.
Reed, A.H. and Angolia, M.G., 2020. Risk management usage and impact on information
systems project success. In Start-Ups and SMEs: Concepts, Methodologies, Tools, and
Applications (pp. 1065-1084). IGI Global.
Salau, O. and et. al., 2018. Data regarding talent management practices and innovation
performance of academic staff in a technology-driven private university. Data in
brief, 19, pp.1040-1045.
Shirley, D., 2020. Project management for healthcare. CRC Press.
Online
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Marks and Spencer Group PLC. 2020. [Online]. Available Through:
<https://www.referenceforbusiness.com/history2/68/Marks-and-Spencer-p-l-c.html>.
What is Work Breakdown Structure in Project Management?. 2020. [Online]. Available
through:<https://www.wrike.com/project-management-guide/faq/what-is-work-breakdown-structure-
in-project-management/>.
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through:<https://www.planview.com/resources/articles/work-breakdown-structure/>.
Definition of 'Gantt Chart'. 2020. [Online]. Available
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%20A%20Gantt%20chart%20is,or%20tasks%20performed%20against%20time.&text=Each
%20task%20is%20represented%20by,tasks%20that%20have%20been%20completed.>.
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resource/gantt-chart/>.
17

APPENDIX
Questionnaire
Q1. Are you familiar with the concept of talent management and retention?
(a)Yes
(b) No
Q2. What are the plans of actions which are executed by the administration of M&S in
term of retaining qualified and skilled workforce?
(a) Peron organisation fit
(b) Reward and compensation
Q3. Are you agreeing that these strategies will assist in managing talented workers in
M&S?
(a) Yes
(b) No
Q4. What are the challenges that suffered by the management of M&S due to lack of talent
management?
(a) Enlarge employer turnover
(b) Lack of leadership
Q5. In which term and form Talent management is crucial for Marks & Spencer?
(a) Development of company
(b) Retaining high performance workforce
Q6. What is the major function played by the administration of M&S for developing
manpower?
(a) Training and development
(b) Supporting problem solution
Q7. In which manner, administrators of M&S are engaged regarding managing top talent
within the firm?
(a) Empower accountable workers
(b) Provide opportunities to grow
Q8. Does the organisation have any particular Talent management initiatives in
workplace?
(a) Yes
18

(b) No
Q9. How does the management of M&S identify talent?
(a) By competencies
(b) By potential
Q10. Provide the suggestions to deal with the challenges of Talent management.
19