Talent Management Strategies for Attracting and Retaining Employees

Managing a Successful
Business Project

TOPIC
E- Portfolio: What talent strategies do the best companies use to attract and retain people?
INTRODUCTION
Every business needs to focus on their business operations so that they can easily build their
position in the market. As per the today scenario, businesses are expanding & competition level
increasing continuously so it is necessary for the business to focus on their strategies and hire
high talented and skilled employees. Business need to conduct some market research and analyze
the whole scenario which can help to establish successful business projects. Every organization
needs to follow some specific strategies that can help to boost the performance of the
organization and gain more profit advantages. There are various Strategies which are considered
by organization but talent management strategies is also one of them that can aid to provide best
outcome in the attract and retain employees and Development of the organization. This report
will consider ASDA as an organization and analyze the talent management strategies that this
organization is contain. ASDA is the most famous British retail organization in UK. This
organization established in 1949 and the headquarter situated in Leeds, UK. The main motive of
this report is to discuss the significance of talent management and identify useful strategies of
talent management that can help to attract and retain employees and identify the best talent. For
this report a small research will be conduct to analyze the situation of the organization.
Aims and objectives
Aim
To Study the impact of talent management strategies to attract, retain the employees for the
development of organization. A case study on ASDA.
Objectives
 To create knowledge about the talent management.
 To determine the talent management strategies to increase the productivity and efficiency
of the ASDA employees.
 To analyze the benefits of talent management strategies to improve the performance of an
organization.
 To evaluate the challenge that experience by organization due to poor practices of talent
management in their organization.

Research questions:
 What is the concept of talent management?
 What are the talent management strategies to increase the productivity and efficiency of
ASDA employees?
 What are the most appropriate benefits of talent management strategies to improve the
performance of an organization?
 Which challenges is mainly experience by organization due to poor practices of talent
management in their organization?
.
Literature Review
Concept of talent management
According to Elegbe, (2016), revealed that talent management is the most appropriate
concept that can help to access the strategic hiring of the right talent for the organization and also
improve the brand value of the organization. Talent management is like a strategic framework
that can manage the best and high potential employees within an organization so that
organization can provide training and development sessions and improve the working efficiency
of their employees so that they can perform well. It is mandatory to focus on talent management
and use its practices so that all the organization and take more competitive advantages and gain
more profitability.
The talent management strategies to increase the productivity and efficiency of ASDA em-
ployees
According to Borisova and et. al., (2017), defined that there are many strategies which are
essential for the development of the organisation and also provide the effective working
environment of the employees so that they can perform comfortably? Some strategies are
determined by this study like sourcing strategy, talent retention strategy and talent acquisition
strategy etc. are considered the most essential strategy that can help to maintain the productivity
of the organisation and all the help to hire the most talented employees so that they can perform
well. Its strategic practices and strategies help to emerging the economic so that it is also
beneficial for the organization and also for the country economy (Cooke, 2017),
Benefits of talent management strategies to improve the performance of an organization

According to John Suvllivan (2017), there are various benefits that provide the positive
impact on the productivity and performance of employees and also organisation. There are
various benefits of talent management identified such as retain best talent, employee’s
development, enhance employees experience, improve employees’ engagement and many more
that provide direct impact on the performance of the employees so that they can perform well
and provide their best contribution in the development of the organization (Böhmer, and
Schinnenburg, 2016).
Challenges is mainly experience by organization due to poor practices of talent
management in their organization
According to Tafti, Mahmoudsalehi and Amiri, ( 2017), revealed that there are
challenges that mainly faced by the organisation due to poor practices and lack of talent
management strategies. There are various challenges are faced by the organisation such as high
employee turnover rate, lack of leadership, unappealing organisational culture etc. all these
create the massive problem in an organisation and also provide the negative impact on the
employees and organisation both and decrease the productivity and efficiency of the employees
(Skuza, McDonnell and Scullion, 2018). It is important to focus on the talent management
strategies and follow all the practices of the talent management so that organisation can maintain
their performance and attract and retain the employees for the longer period of time.
Step 1 – Project planning
Project management plan
Every organization needs to prepare a project management plan so that they can effectively
achieve their day to day target in a project plan of the organization. There are various documents
and Strategies are considered for the approval of this plan so there is a need to focus on each and
every steps of this plan which can help to manage the successful business projects. The
description of all the steps which are involved in this project report plan are discussed below -
 Cost - Cost Elements is one of the most essential factors of project management plan that
help to determine the cost structure and prepare budget on the basis of the activities
which are mainly carrying out to complete this project (Lam and Law, 2016). In order to

accomplish the target to compete this project, research analyzed. To carry out this
research project, researcher required cost 3000 £.
Particulars Amount (£)
Marketing 400
Promotional activity 600
Training and development 1500
Compensation 500
Total 3000
 Time - Time is considered the most important factor that helps to complete project on
time. With the help of time, all the activities which are involved to carry out the project
plan will compete step by step on the basis of given time period. To complete project
timely help the researcher to analyze the best outcome and it will make easy to conclude
the project. Through time management, researcher can complete their project because
there are various challenges affect the working of project such as shortage of funds, lack
of resources and issues among project team members (Pieters, 2017).
 Scope - This is also an important step of this project plan that can help to set the
importance and value of the project plan. This factor identifying the various documenting
list of goals and objectives that are analyzed to achieve, functions, deliver the project.
This factor work like an action which are considered by the researcher to carry out the
project in the right manner.
 Quality - It is important to take care about the quality of the project which can help to
show the significance of the project. The project quality totally based on the data
collection method so it is important for the researcher to collect data accurately and
maintain reliability and take data from the authentic sources. It is essential to maintain the
quality of the project to attain the best results (Schünemann and et.al., 2019).
 Communication - For every project plan, it is important to create effective
communication among the project team members so that they can easily work together