Talent Strategies for Attracting and Retaining Employees - Desklib

Managing a Successful
Business Project
(Talent strategies used by companies to
attract and retain people)

Chapter 1: Introduction
Overview:
Talent refers to a specific and inherited capabilities of individuals to attempt a task.
Whereas talent management is a process to manage talent in workplace. There are a number of
strategies that can be used by organisations for talent management such as rewards, recognition,
persons organisation and so on (Kaliannan, Abraham and Ponnusamy, 2016). This will
successfully help an organisation to attract experienced and talented workforce and retain them.
Iceland foods Ltd. Is organisation on which this research is conducted.
Overview of the Organisation:
Iceland foods Ltd is a supermarket chain dealing in retail sector. The company was
founded by Sir Malcolm Walker in the year 1970. it is headquartered in Wales. There are a
number of frozen meals sold by company including prepared vegetables and meat. The company
also deals in some non-frozen items such as grocery, dairy products and so on. It is necessary for
company to take care of their employees and make sure that they are effectively retaining
talented employees in the organisation. There are a number of strategies that company uses in
order to make sure that they are effectively using talented management to retain and train
employees in the organisation.
Project aim:
“To analyse the importance of various talent management strategies in order to attract and
retain talented people within business”. A study based upon Iceland Foods Ltd
Objectives of the project:
 To develop a basic understanding about the concept of talent management.
 To understand the talent strategies which should be used by the management of Iceland
Foods Ltd.
 To analysis the methods in which Iceland Foods Ltd. can retain talent. To examine the importance of talent management strategies to attract and retain talent for
long time within a business.
Questions of the project
 Explain talent management related to an organisation?
 What are different talent management strategies used by organisations?

 What are the important strategies that can be used for of Iceland Foods Ltd for talent
management? What are the effects of different talent management strategies used by Iceland Foods Ltd
in order to attract and retain the talent within the organisation?
Rationale of the project: Major rationale to select this strategy is to make sure that major
talent management strategies and their effectiveness is identified. In personal level the study is
supporting investigator to enhance skills and in professional level they are helping to understand
various strategies of talent management.
Project management plan: This is document that is explaining various goals, budget,
timeline and scope of the project. Various components of project management plan are: Cost: It is included in project management plan as it is helping organisation to complete
the project successfully. The cost required in project are mentioned below:
Total forecasted budget
Particulars 2019-20($)
Implementing technological costing 10000
Promotional expenses 5000
Advertisement expenses 1500
Brochures 1000
Charges for training 5500
Total cost 23000 Scope: The following study has a broad scope as it is effectively helping in enhancing
knowledge on certain topics. Time: It is necessary to complete task in given time for which organisation is using Gantt
chart. Quality: All the work in research is to be done in a quality manner to achieve results
(Gupta, 2019).

 Communication: it is an important part that will help in supporting the researcher
effectively. Various communication channels such as emails, oral communications and
written communication are used to support aim and objectives in research. Risk : Various risks include lack of time and resources required fro research. Negative
performance of researcher is also a risk. Resources: Various resources used includes books, newspapers, publications journals etc.
Work breakdown structure: It is breaking a huge work into smaller segments. It is a common
productivity tool in order to make work more manageable and approachable (Murillo and King,
2019). All the activities are divided into small tasks so that they can be successfully
accomplished as mentioned below:
 Gantt chart: It is a tool for time management which helps to complete each activity in
given time. The graphical tool help in projecting activities against time as mentioned
below: