Talent Strategies for Attracting and Retaining Employees

Managing a successful
business project
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Contents
TOPIC: “What talent strategies do the best companies use to attract and retain people?”.............3
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Project aims & objectives.......................................................................................................3
P2 Project management plan.......................................................................................................4
P3 Develop a work breakdown structure and Gantt chart...........................................................5
TASK 2............................................................................................................................................7
P4 Carry out small-scale research by using primary & secondary method for meeting project
aims & objectives........................................................................................................................7
TASK 3............................................................................................................................................9
P5 Findings & data using appropriate tools as well as techniques..............................................9
P6 Recommendations................................................................................................................13
TASK 4..........................................................................................................................................14
P7 Reflection.............................................................................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
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TOPIC: “What talent strategies do the best companies use to attract and
retain people?”
INTRODUCTION
MSBP is a kind of small sacale research that help in identifying and gaining knowledge
about any topic. The aim of this project is to identify talent management strtaegies taht help a
business entity to attract and retain talent.Talent management is defined as a systematic and
effective procedure for analysing the vacant position, developing the skills and expertise of an
individual, recruiting the right person & retaining them to attain objectives of organisation.
(Amiri and Safariolyaei, 2017). In addition to this, it is a useful procedure of pulling, thinking
hiring, retaining, developing and transitioning of staff members to achieve organizational vision.
For conducting the present report, Halfords is taken into consideration. It is a British retailer of
car enhancement, car parts and touring equipment’s that is operating in Ireland and UK. The
company was founded in year 1892 and also provide services such as bicycle repair, dash Cam
installation, vehicle part fitting and so on. The report will cover an understanding about the
talent management concept and its Importance to retain and attract employees working in
organization. In addition to this, there is discussion about the strategies used by companies to
manage talent at workplace. Furthermore, project management plan is developed and work
breakdown structure & Gantt chart is produce for completion of research. In the last, some of the
recommendations to the company and the reflection on basis of learning and experience is
elaborated in a proper manner.
TASK 1
P1 Project aims & objectives
Talent management palys an importnat role within an organisation as it help in retaining
employees and also assist in increasing productivity of staff members. In addition to this, it is
significant for business entity to make use of effective talent management strtaegies in order to
attract and retain talent.
Research Aim:
“To determine the strategies of talent management and its importance to retain employees
of an organisation. A case study on Halfords”.
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Research Objectives:
 To know about the concept and importance of talent management in an organisation.
 To examine strategies adopted by Halfords to attract and retain employees of the
organisation.
 To identify the challenges faced by Halfords while implementing talent management
strategies at workplace.
Research Questions:
 What is the concept and importance of talent management?
 What are the strategies adopted by Halfords to attract and retain employees of the
organisation?
 What are the problems faced by Halfords while implementing talent management
strategies at workplace?
Rationale
The main purpose of conducting this research is to determine the strategies of talent
management and its importance to retain employees of an organisation. In addition to this, it help
researcher to gain insight about talent management concept and the also the challenges faced by
company while implementing the talent-management strtaegies. Moreover, it help researcher to
improve skills such as communication, time management, data analysis and many more.
P2 Project management plan
It is basically a blueprint that is used by researcher for performing the activities associated to
investigation in a proper manner. There are various factors involved in project management plan
that is time, risk, cost, scope, communication and many more. The project management plan for
the present research is given below:
Cost: It is basically the amount that is required in order to run out the activities of
investigation. The fund which is estimated by researchers for completing activity and task of
present investigation is $30,000.
Scope: It includes aspects such as deliverables, functions, project task and so on. The scope
of the present project is wide as it will help companies to retain and attract employees for longer
time in Halfords. The scope of the research topic is wide as talent management is one of the
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trending topic and conducting study on such topic assist organisation to retain and attract talent
at workplace.
Time: It is referred as the estimated time that will be taken to complete the research
successfully. It is important for researchers to set the time period of every activity in advance so
that it is completed timely. With the help of work breakdown structure and Gantt chart,
investigator will be able to divide the activities according to the time (Iii, 2016). For the present
research, investigator will be taken around 8 weeks..
Quality: it is basically the quality of information connected that help in developing
authentic and valid conclusion. In the present report, both the primary and secondary information
has been taken from the certified sources which ensure quality of work.
Communication: It is basically deciding which channel is used by researcher in order to
communicate the outcomes to all the stakeholders. In the present investigation, both oral and
written form of communication have been used. It is determined that retaining and managing
people are the main functions of human resource Department of an organization and on the other
hand senior management develop strategies which are implemented by personnel in a written
format in order to make things authentic, official as well as verifiable.
Risk: Every research is associated with some kind of risk , which is experienced by
investigator. There are different forms of risk such as inaccurate responses, limited sources,
limited funds and many more. In addition to this, organization face risk in the form of inaccurate
data presented, lack of talented staff members, inadequacy of capabilities and so on.
Resources: It is basically including all the resources which investigator had used for
conducting research and these are time, pen, paper, laptop, stationary and many more
(Kaliannan, Abraham and Ponnusamy, 2016). All these resources are necessary to conduct
investigation while organization need resources such as talented and skilled staff members,
authentic sources, correct information on so on.
P3 Develop a work breakdown structure and Gantt chart
Researchers used different methods in order to determine the time frame of the project
structure. The techniques used by Halfords to determine time frame is given below:
Work breakdown structure:
This structure is used by investigators in order to categories the project process into easier
sequential stages. In addition to this, it helps in dividing the complex work into the manageable
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activities which is convenient for researcher to implement and is associated with target bound. It
is determined that, work breakdown structure is used for both the research management and
project management. Moreover, it also determines the roles as well as responsibilities associated
to project management along with risk involved, cost and developing correct sources to generate
data.
Gantt chart:
It is a bar chart type which help in determining relationship among real time activity
performance and schedule status. It is presented in horizontal and vertical axis that shows the
status of work and activities in a planned and structured manner so that project can be completed
effectively and timely (Khilji and Schuler, 2017). The chart involved the initial time and the
completion time of activity that assist in implementing project management functions such as
effective planning, organizing, directing, controlling off activities optimally and properly.
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