Talent Strategies for Attracting and Retaining Employees

This report focuses on the talent management strategies used by companies to attract and retain employees. It includes a case study on Halfords, a British retailer, and discusses the concept and importance of talent management, strategies used by Halfords, and the challenges faced by the company. The report also includes a project management plan and findings from primary and secondary research.

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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TASK 2
P4 Carry out small-scale research by using primary & secondary method for meeting project
aims & objectives
It refers to determination and identification of particular tools as well as techniques which
are used for assessing, defining, analysing and processing data or information associated to
specific project. In addition to this, it helps in evaluating the reliability and validity of research
information on the talent management strategies. The methods used in the present research is
given below:
Primary method: It denotes the information that has been gathered for the first time and is
original in nature. It is basically a raw data that is gathered by investigators as per the identified
problem and the research objectives. There are various methods use to collect primary
information such as questionnaire, case studies, survey, focus group and many more. For the
present investigation, questionnaire is used by researcher as it helps in collecting information
more properly and effectively. In addition to this, it help researcher to collect first-hand
information that is original in nature and support in gaining valid and appropriate information.
Secondary method: It consists of the data which is already used and gathered by
professionals and researchers (King, 2017). The methods to collect secondary information are
books, Journal, websites, articles and so on. The data from different articles and journals is used
by researchers for collecting secondary information for the present investigation. This method
for collecting data is used by researcher for the present investigation as it is the information
which is gathered and analysed by experts and leads to more reliable and valid conclusion.
Qualitative research: It is a method of research that does not involve information or data
which is in numerical form. It involves sources of information like observation, words,
photographs and many more. It is analyzed that primary sources are preferred for qualitative
research in order to get accurate information.
Quantitative research: It involved data that can be expressed in statistical as well as
numerical form. This help researcher to collect valid and reliable information due to which
positive outcomes can be attained by conducting the research (Thunnissen and Buttiens, 2017).
In the present research, Qualitative research method is used by researcher as it help in
collecting in-depth knowledge about the topic and is easy to gather as well. In addition to this,
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will help in gaining authentic and reliable information which leads to development of valid
conclusion.
Sampling: It is the process of selecting number of participants from the whole population in
order to collect information about the particular topic. There are mainly two methods of
sampling that is probabilistic and non-probabilistic method. Random sampling, a form of
Probability sampling method is used for the present investigation as it allow researcher to select
participants from the large number of population. The sample size which is taken into
consideration is 30, who are the employees of Halfords.
Questionnaire: it involves different close ended and open ended questions associated to
research aim and objectives in a proper manner (Lawler, 2017). The questionnaire developed by
researchers is given below:
Questionnaire
Q1) Please can you help me with concept of talent management?
a) Yes
b) No
Q2) As per you, do talent management strategies help Halfords in employee retention and
satisfaction?
a) Yes
b) No
Q3) State issues faced by Halfords while implementing talent management strategies at
workplace?
a) Lack of leadership
b) Disagreements among employees
c) Increased employee turnover
Q4) Mention strategies, which could be used by Halfords to retain talent in organisation?
a) Providing positive working environment
b) Appreciate good work
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c)Cultivate team spirit
d) Providing appropriate training
Q5) As per your view point, what are the impact of talent management on the productivity and
performance of employees?
a) Positive impact
b) Negative impact
C)No impact
Q6) Provide any recommendations to Halfords in attainment of competitive advantage by
using talent management.
TASK 3
P5 Findings & data using appropriate tools as well as techniques
Theme 1: Talent management concept in organisation
Q1) Please can you help me with concept of talent management? Frequency
a) Yes 24
b) No 6
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Interpretation: From the above graph, it is analysed that out of total 30 respondents, 24
participants have the knowledge about talent management concept whereas the remaining 6
participants have no idea about this concept. Most of the participants have the knowledge about
such concept as they have experienced and performing in organisation but 6 participants have no
idea as they did not consider this concept at workplace.
Theme 2: Talent management strategies help Halfords in employee retention and
satisfaction
Q2) As per you, do talent management strategies help Halfords in
employee retention and satisfaction?
a)Yes 22
b)No 8
Interpretation: The above graph state that out of total 30 respondents, 22 participants said that
talent management strategies help respective organisation in employee retention and satisfaction
whereas the remaining 8 is not agree with the point.
Theme 3: Problems faced while implementing talent management strategies at workplace
Q3) State issues faced by Halfords while implementing talent
management strategies at workplace?
Frequency
a)Lack of leadership 10
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b) Disagreements among employees 10
c)Increased employee turnover 10
Interpretation: It is interpreted from the above graph that, there are various issues faced by
company while managing talent that is lack of leadership, increased employee turnover,
disagreement among staff members, which is said by 10 respondents respectively.
Theme 4: Strategies used to attract and retain talent in organisation
Q4) Mention strategies, which could be used by Halfords to retain talent
in organisation?
Frequency
a)Providing positive working environment 8
b)Appreciate good work 7
c)Cultivate team spirit 7
d) Providing appropriate training 8
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Interpretation: By analysing the above graph, it is stated that providing positive working
environment is the strategy to retain and talent at workplace and is stated by 8 respondents out of
total 30 participants. In addition to this, appreciate good performance of employees, develop
team spirit is also the strategy, which is perceived by 7 respondents respectively.
Theme 5: Impact of talent management on the productivity and performance of employees
Q5) As per your view point, what are the impact of talent management on
the productivity and performance of employees?
Frequency
a)Positive impact 21
b)Negative impact 6
C)No impact 3
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Interpretation: From the above graph, it is interpreted that, there is positive impact of talent
management on the productivity and performance of employees, which is said by 21 respondents
from the total 30 participants. The other 6 respondents said that there is negative impact whereas
the remaining 3 perceive that there is no impact of talent management on the productivity and
performance of employees.
P6 Recommendations
By analysing the above description, some of the recommendations is given below:
• It is recommended to the higher authorities of Halfords to provide appropriate training
session to its staff members as it help in enhancing expertise and skills, staff members take
interest in activities and retain at work place for longer time period.
• Along with this, it is suggested to company to provide similar kind of treatment to all the
staff members associated to offering learning opportunities so that they can make
development without any sort of discrimination (Meyers, 2020).
• Moreover, it is recommended that developing effective remuneration policies and
providing fair compensation to the employees as per their inputs will help in acquiring and
retaining talent at workplace (Taylor, 2018).
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TASK 4
P7 Reflection
It is determined by me that with the help of WBS and Gantt chart, I categorized the whole
work in small sections associated with the time which enable me to complete investigation
timely. During the research, I faced many issues in collecting information as people are not
taking interest and did not give time to answer my questions and fill the questionnaire developed
by me. But due to my effective communication and convince skill, I’m able to convince them
and gather data in an effective manner. There are various tools such as research methods, data
collecting techniques are used by me for gathering adequate and reliable information in order to
meet research aims as well as objectives. By conducting this research, my research skills, time
management, interaction, data analysis and interpretation, data collection skills are improved
which will help me in future to conduct any form of investigation in a proper manner. In addition
to this, I gained knowledge about how to analyse and interpret data that is gathered through
primary and secondary method. Moreover, gaining knowledge about the concept and strategies
of talent-management will help me in future to deal with the issues at my workplace.
CONCLUSION
By analysing the above report, which highlight concept of talent management, which is an
effective procedure to retain, acquire and attract talent at workplace which directly impact on the
growth and success of an organization. It can be determined that, there are various strategies
used by companies to retain talent such as providing training, appreciating good work, cultivate
team spirit, providing positive working culture and many more. With the help of Gantt chart,
researcher will divide the whole work in not easy manner which leads to attainment of objectives
timely. Moreover, by the help of appropriate research methods and data collection tools, an
investigator is able to achieve research aims as well as objective. It is analysed that there are
various issues faced by company while implementing talent management strategies such as lack
of leadership, arguments among employees, high demand of compensation and so on. In the last,
it is analysed that it is significant for an organisation to implement talent management strategies
in a proper manner as it help in employee satisfaction and retention as well.
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REFERENCES
Books & Journal
Amiri, M. and Safariolyaei, N., 2017. Talent Management among IT employees. International
Journal in Management & Social Science, 5(4), pp.86-89.
D’Annunzio-Green, N., 2018. Conclusion: is talent management a strategic priority in the
hospitality sector?. Worldwide Hospitality and Tourism Themes.
Iii, G.C.T., 2016. Assessment centres and global talent management. CRC Press.
Kaliannan, M., Abraham, M. and Ponnusamy, V., 2016. Effective talent management in
Malaysian SMES: A proposed framework. The Journal of Developing Areas, 50(5),
pp.393-401.
Khilji, S.E. and Schuler, R.S., 2017. Talent management in the global context. The Oxford
handbook of talent management, pp.399-420.
King, K.A., 2017. The talent climate. Journal of Organizational Effectiveness: People and
Performance.
Lawler, E.E., 2017. Reinventing talent management: Principles and practices for the new world
of work. Berrett-Koehler Publishers.
Meyers, M.C., 2020. The neglected role of talent proactivity: Integrating proactive behavior into
talent-management theorizing. Human Resource Management Review, 30(2), p.100703.
Taylor, S., 2018. Resourcing and talent management. Kogan Page Publishers.
Thunnissen, M. and Buttiens, D., 2017. Talent management in public sector organizations: A
study on the impact of contextual factors on the TM approach in Flemish and Dutch
public sector organizations. Public Personnel Management, 46(4), pp.391-418.
Thunnissen, M. and Gallardo-Gallardo, E., 2017. Talent management in practice: An integrated
and dynamic approach. Emerald Group Publishing.
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APPENDIX
What was the Project supposed to accomplish?
The project was conducted “To determine the strategies of talent management and its importance
to retain employees of an organisation” A case study on Halfords.
Did the project succeed in its aims/ how do you know? Specifically, please outline any evaluation
and assessment undertaken?
Yes, by the help of sampling method, questionnaire and many more the research succeed its aim.
What things do you think worked well and why? Evaluate all aspects of the project?
My problem solving skill is effective which help me in gathering valid data in less resources and time as
well.
What problems emerged during the project and how were they tackled? Was there timely
identification of issues and resolution during the project process?
During the investigation, improper behaviour of participants is one of the major problem. For dealing
with the issue, ethical consideration is the best method. Another issue is time that is resolved by me
using Gantt chart.
What did you learn from undertaking the project?
I learned about talent management strategies that help a company to attract and retain talent at
workplace.
How would you rate your performance as a management consultant leading the project?
8 out of 10 is the rate which I allot myself in research undertaking.
What strengths and weakness of your performance did you identify?
By performing research, It is determined by me that my problem solving skill is effective and I need to
focus on time management skills.
How will this inform and support your continuous professional development?
Communication skill support and inform me in my continuous professional development through solving
various problems.
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Appendix 1: Project Logbook Template
Week
2
Week4 Week 6 Week 8 Week 10
Update on weekly
research/tasks
1. What have you
completed?
Selectio
n of the
research
topic
Visited websites, online books
& journals for conducting
investigation
Implementing work
with available
information
Methods of
research
Data analysis and
interaction
2. Did you fulfil task
requirements?
Yes Yes Yes Yes Yes
3. Are you on track and
within deadlines set?
Yes Yes Yes Yes Yes
Any risks and/or issues
identified?
1. Did you identify risks/issues
with a lack of skills required
for undertaking
research/tasks?
Yes Yes Yes Yes Yes
Problems encountered?
1. What barriers did you face? Resourc
es
Decision-making Communication Time Cost
2. How did you overcome Division Allocation of activities Reading articles and Evaluation of Formulation of budget

them? of work books decision-making
What have I learnt about
myself?
1. Did I find it useful to
complete the tasks?
Yes Yes Yes Yes Yes
2. How well have I performed? Decent Good Weak Better Excellent
3. What did I contribute? Skills Efforts Capabilities Knowledge Leadership
4. What can I improve on next
week?
Commu
nication
Managing risk Communication
skills
Leadership Time management
5. How might this learning
apply in the future?
Distribut
ion of
task
By analysing it and developing
strategies for it
By active
participation
Focusing on
learning
Setting objectives
associated with time
6. Tasks planned for next
week?
Starting
of
project
Developing project management
plan
Research
methodology
Developing
Questionnaire
Data interpretation
Project status to date: On,
Ahead
, or
Behin
On, Ahead or Behind On, Ahead, or
Behind
On, Ahead,
or Behind
On, Ahead, or
Behind

d
Comments and signature of
the Tutor