Effectiveness of Talent Management Strategies in Retaining and Attracting High Performance Team Leaders

Managing a Successful Business Project
(The effectiveness of talent management strategies used by
organisation to retain and attract high performance team
leaders)
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EXECUTIVE SUMMARY
The main motive of conducting this research is to know the effectiveness of talent
management strategies in retaining employees and leaders in an organisation. This research
report shows an evaluation and analysis of talent management strategies used by organisation to
attract large number of employees who are effective and efficient. This project also highlights
the significance of talent management strategies in improving the efficiency of business. This
report also describes the different strategies used by organisation and the issues which are faced
organisation due to ineffective strategies of organisation. There are different chapters which are
included like introduction in which clearly explains the aim and objectives of the project. After
that literature review for this secondary and primary sources are considered to collect data so that
objectives of research can be achieved. For this various methods are also used to analyse data so
that objectives can be achieved successfully.
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Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
LITERATURE REVIEW................................................................................................................9
Different talent management strategies used by Sainsbury's......................................................9
Importance of those talent management strategies in retaining and attracting employees and
leaders within Sainsbury's...........................................................................................................9
Issues that would be faced by Sainsbury's because of ineffective talent management strategies
at workplace..............................................................................................................................10
RESEARCH METHODOLOGY...................................................................................................11
DATA ANALYSIS AND INTERPRETATION...........................................................................13
RESULTS AND DISCUSSION....................................................................................................26
REFLECTION...............................................................................................................................26
EVALUATION AND LIMITATIONS OF THE RESEARCH....................................................26
RECOMMENDATIONS...............................................................................................................27
CONCLUSION..............................................................................................................................28
REFERENCES..............................................................................................................................29
APPENDICES...............................................................................................................................31
Questionnaire............................................................................................................................31
Project Logbook......................................................................................................................33
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INTRODUCTION
Talent management refers to the concept where an organisation is dedicated towards
doing activities like recruiting, attracting and developing best workforce and applicant in the
market. Talent management has different strategies which are used by organisation maximise
their workforce within the workplace (Borisova, 2017). In simpler words it refers to the strategic
way to attract, retain and develop employees within the organisation. Companies have the
responsibility to hire competitive employees by investing in skill and learning development and
managing performance (Savanevičienė and Vilčiauskaitė, 2017). Talent management is also
defined as bringing best person who have great knowledge according to the requirement by
company, making career paths for their development and ensuring learning is continuous. This
research project assists in determining the challenges that are faced by organisations due to
ineffective talent management strategies and various ways are also recommended to mitigate all
the issues and challenges faced because of ineffective talent management strategies.
Background of a selected organisation
Sainsbury's is the second largest chain in supermarkets available in United Kingdom. It
has almost share of 16 % in the sector of supermarket. This company is founded by John James
Sainsbury in 1869 and its headquarters is situated in London, England, United Kingdom. It is a
retailing industry and they have same layout and activities but have difference in offering to their
customers. Their supermarkets at various places include kiosk, groceries, frozen food and many
more. The offering by supermarkets of Sainsbury also depends upon the size of their shops as
those shops which are of large size have more offerings like bakery items, cafes, counters of
pizza and counters of pizza.
Rationale of the project
The main cause for conducting this project is to identify the effectiveness of talent
management strategies used by organisations to retain and attract high performance leaders and
to analyse the issues that would be faced by Sainsbury because of ineffective talent management
strategies at workplace. Talent management strategies are quite useful in organisations because it
assists in attracting, hiring and developing qualified and top candidates or employees. With this
project there is fulfilment of two kind of perspectives: personal and professional. In order to
attain personal perspective, it would help me in learning about the methods which would assist
me in developing my personality and in order of professional perspective it will help me in
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learning techniques and strategies that are used to retain and develop employees in organisation
which also assist in applying these techniques in practical life. With this I would get success in
my professional career and develop in different fields.
Research Aim and Objectives
Research Aim
“To identify the importance of talent management strategies for retaining and attracting
high performance employees and team leaders within a workplace.” A study on Sainsbury
Research Objectives
1. To explore the different talent management strategies used by Sainsbury.
2. To analyse the importance those talent management strategies in retaining and attracting
employees and leaders within Sainsbury.
3. To ascertain the issues that would be faced by Sainsbury because of ineffective talent
management strategies at workplace.
Research Questions
4. What are the different talent management strategies used by Sainsbury's?
5. What is the importance of those talent management strategies in retaining and attracting
employees and leaders within Sainsbury's?
6. What are the issues that would be faced by Sainsbury's because of ineffective talent
management strategies at workplace?
Scope: Project management plan assists in exploring the different types of talent management
strategies which can be adopted by Sainsbury's because through this they can attract and retain
employees in large number. With this project Sainsbury's also ascertains issues and challenges
that would be faced by organisation due to ineffective talent management strategies. There is a
high scope for Sainsbury's with the talent management strategies as they can attract and retain
top employees and qualified leaders. These strategies also help organisation to reduce chaos and
confusion (Theys and Schultz, 2020).
Resources: For carrying out the research in a proper and systematic manner project manager
needs various resources like human resource, financial resources, various secondary sources like
books, journals and articles, latest technologies and many more. Before the beginning of project
a manager should analyse and evaluate all the needed resources to achieve the objectives of
effectiveness of talent management strategies in an organisation. For effective communication
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investigator has taken the assistance of mix method of oral and written communication. For the
instant transfer of information researcher uses oral communication whereas for formal
communication investigator uses written method. Resources are the important factor in
organisation to take out the various activities without increasing the different costs of an
organisation (Saadat and Eskandari, 2016).
Cost: Before initiating the project, cost is an essential factor which needs to be considered by
Sainsbury while adopting different talent management strategies. It is important for manager to
plan a budget which would assist in managing project's cost and their requirements for
performing various activities. By identifying the project's cost it accommodates organisation in
allocating resources and giving to the workforce timely completion of the project (Gitonga,
2019).
Risk: Before doing the project a manager predicts various types of risks related to the
completion of the project. The common risk is lack of time, in this manager has limited time to
complete the project in a systematic and effective manner. For mitigating the risk of time period
researcher uses Gantt chart through which all the activities are scheduled with proper time. The
second risk associated with the project is cost in which project manager has limited financial
resource so they have to make balance between dividing the financial resource. For the efficient
usage of financial resources researcher makes budget before starting the project. For adopting
talent management strategies researcher has to consider and evaluate the risk associated with
internal environment at workplace.
Gantt Chart and Work break down structure:
Work break down structure refers to the outline in which work is divided into smaller
parts so that work can be done very conveniently. In simpler words WBS breaks the project in
easy and manageable activities. In this scope of the project is represented graphically in structure
of WBS. In this various boxes are there where deliverables related to the project are shown.
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Gantt chart refers to the bar chart which assists in planning and organising activities with
the specified time. It clearly defines the each activity and its time period to complete that
particular activity in an effective manner. In simpler words it presents the activity with graphs so
that project manager can easily complete each activity. This chart also shows the beginning and
ending date of the project so that manager can complete the whole project within the given time
period without any delays and issues.
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