The key challenges and obstacles facing different business sectors in terms of talent management

Managing a successful
business project

Table of Contents
Title .................................................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives for a chosen scenario. ...............................................................1
P2 Produce a project management plan containing description of different aspects...................3
P3 Work breakdown structure and a Gantt chart.........................................................................4
TASK 2............................................................................................................................................6
P4 Small-scale research applying primary and secondary methods appropriate for meeting
project aims and objectives..........................................................................................................6
TASK 3............................................................................................................................................8
P5 Present findings and data using appropriate tools and techniques.........................................8
P6 Recommendations as a result of findings and data analysis to draw valid and meaningful
conclusions.................................................................................................................................16
TASK 4..........................................................................................................................................17
P7 Value of undertaking the project to meet stated objectives and own learning and
performance...............................................................................................................................17
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

Title
“The key challenges and obstacles facing different business sectors in terms of talent
management”. A project on TESCO .
INTRODUCTION
Talent management is a process that involves with a continuous activities of attracting and
retaining high quality employees, enhancing and developing their skills and knowledge and
constant motivational factor in the organisation to build the employees confidence for the
particular objectives and targets which help them in their career development too. The main
objective of talent management is to motivates the employees in such a manner so as to attain the
long term objectives of the organisation. It’s basically the anticipation of the required human
capital for an organisation and relates with the planning to meet those needs in the future. Talent
management deals with the component such as strategic employees planning for the
organisational goals, talent acquisition and retention, relates with the performance management,
learning and motivation factor, involves with the career development, succession planning and
employee’s compensation process these aspects are considered under the talent management
activities (Al Ariss, Cascio and Paauwe, 2014). Its having the objectives to build the organisation
structure through working on their human resource skills and abilities. The below report is based
on TESCO a British multinational retailing industry relates with groceries and general
merchandise having them headquarter in Welwyn garden city, England. The report consists of
the topic project aims and objectives, work breakdown structure and a Gantt chart to provide
time frame, applying primary and secondary method for meeting project aims and objectives.
TASK 1
P1 Project aims and objectives for a chosen scenario.
Overview of the Research: The below report is based on topic the key challenges and
obstacles facing different business sectors in terms of talent management. In the context of
Tesco, a British multinational retailing industry, their management because of the large
operations of their talent management team has to face several key challenges cause these
activities are organized in different countries so to achieve the value of this term talent
management, they have to undergo through obstacles which will arises due to the external
conditions across the countries (Boella and Goss-Turner, 2012). TESCO is a British
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multinational retailing industry which deals in groceries and general merchandise having a
headquarter in Welwyn Garden city, England, its considered to be the third largest retailers in the
world, the area in which Tesco serves is that United Kingdom, India, Ireland, Czech Republic.
The industry type of Tesco is retailing, with having approximately 6800 number of locations.
Thus this adequate research is developing by researcher to describe the challenges and obstacles
faced by the Tesco retailing sector.
Aim: “To examine different challenges faced by an organisation while implementing talent
management”. A Project on TESCO.
Objectives;
 To understand basic conceptual framework of talent management.
 To examine the importance of talent management within an organisation
 To investigate various challenges faced by business for implementing talent management.
Research Questions:
 Explain the basic conceptual framework of talent management.
 What are the importance of talent management in relation with the organisation?
 What are the various challenges faced by business in terms of talent management?
Literature review
Conceptual framework of talent management.
As per article published in Business Jargons, the talent management is having a process
of strategically getting the right talent on board and helping the employees in enhancing and
growing their optimal capabilities by taking care of the organisational objectives and goals. The
framework of talent management involves with identifying the gaps which relates with human
resourced requirement to fill that gap and determine the vacant positions. Talent management is
an integrated part of organisation to attain desired outcomes. Without managing talent, there are
no chances to overcome with the hurdles in staff retention, less effective performance,
managerial growth. It is a continuous process for the organisation to look forward in rising
capabilities of employees through providing them with various benefits and work relaxation. In
context to chosen organisation i.e. Tesco, managers and leaders of business firm uses various
talent management approaches to bring in efficiency of work being produced in the an
organisation. As selected company is dedicates its major production activities for delivering
grocery items to their customers, talent management approaches helps business organisation in
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cost cutting methods by avoiding any sort of wastage of valuable resource of company. It gives
comparatively advantage to company by lowering down cost of production, which enables
company to deliver its products and services at comparatively lesser rates without hampering
quality of company's brand.
Importance of talent management within an organisation
According to article published in Human Resource online, importance of talent
management can't be ignored by a management of the firm. As it is not only just a human
resource tool, but also helps management of a business firm in its various operational activities
relating to hiring, managing, developing and retaining employees of the workforce. In context to
selected business firm, concerned higher authorities of business firm, adopts to various talent
management techniques, which helps them to bring in better coordination of efforts of various
individuals working in the business firm. With a belief that, retaining up of experienced
employees is better then hiring new employees into the company. As with light to the fact that,
hiring up of new employees engages high cost in providing them training sessions and also
increases possibility of wastage of valuable resources of the business firm. Ken Murphey, being
current CEO of the company, adopts to various talent management approaches and build in
effectiveness in working of operational firm by organising various development programs to its
staffs working in the company. With use of talent management, firm is able to shape their
respective plans and strategies as per uncertain business environment of the firm, which
contributes towards potential strengths of the company for fighting to their competitors.
Various challenges faced by business for implementing talent management
In words of Andre, in current 21 century, management department of the business firm
has to go go through tough time for managing respective talented employees of the workforce.
With light to the fact that, talented employees are demanded by large number of corporate firms
when compared to their supply. Manager or leaders of an organisation doesn't want to loose any
of their talented staff working in an organisational firm. They provides good working
environment and also are very responsive of their respective needs and wants. Therefore, in order
to effectively manage talented employees of the business firm, concerned authority of the
business firm uses various talent management techniques in order to successfully retain and
manage respective talented staffs working in the workforce. In regards to selected company,
managers and leaders of the firm, dedicate their best efforts for bringing in effectiveness in
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operational firm by adopting various talent management techniques. However, there are various
issues or difficulties that is faced by management, which are as follows:
High salary: Various talented staffs working in an organisation, expects high amount of
salaries to work in respective organisational firm. As with respect of their dedicated as well as
loyal efforts for the organisation for a longer period of time, financial department of the firm has
to bear the cots of expensive salaries which is to be given by the operational firm. Management
of Tesco believes that salaries paid to their experienced or talented employee of the business if
should be charged against investment to the firm.
Being open minded: Sometimes their open minded approach could prove to be
ineffective for giving a better operational shape to an organisation. It could be the reason for
conflicts and disputes between various individuals working in the operational firm. In regards to
selected business firm, managers takes help of various talent management techniques which
helps in bringing in coordination between various departments of the firm and various talented
employees working in the workforce.
P2 Produce a project management plan containing description of different aspects
Project management plan is a type of framework or structure under which goals and
objective set within a specific time period. It consists various research and analysis to better
accumulate with project planning (DeCenzo, Robbinsand Verhulst, 2016). Every aspect of the
plan has defined with each objective. Projects are being entitled with the certification of source
of action. Its main aim is to creates plan, organising resources and make its supervisory control
over its implementation. The researcher needs a base to execute the overall procedure of
achieving objectives and aims. In order to conduct the research properly, there are various pints
that needs to be taken into consideration.
Time: time element is the major and required part of every project as it is the key to
success of project. Every project has some specific duration that needs to get complete within
that decided time otherwise, the causes may lack with its successful completion. Every activity
needs to set with each time framework so that work would be done and research would be
accurate. The decided time to complete this project is considering approximately 3-4 months
(Deresky, 2017).
Cost: Cost is also an another essential factor that needs to get proper attention while
carrying out a research. It includes the expenses and extra fare incurred while researching and
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