Talent Strategies for Attracting and Retaining Employees in M&S

Managing successful business
projects
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TABLE OF CONTENT
TOPIC: “What talent strategies do the best companies use to attract and retain people”...............3
INTRODUCTION...........................................................................................................................3
Aims and objectives.....................................................................................................................3
LITERATURE REVIEW................................................................................................................4
Project management plan.............................................................................................................6
Produce work breakdown structure, Gantt Chart and timeframes...............................................7
RESARCH METHODOLOGY.....................................................................................................10
Conducting research methodology............................................................................................10
DATA ANALYSIS AND INTERPRETATION...........................................................................12
Data finding and interpretation..................................................................................................12
CONCLUSION AND RECOMMENDATIONS..........................................................................25
Recommendation and conclusion based on findings.................................................................25
Reflection...................................................................................................................................26
REFERENCE................................................................................................................................28
APPENDIX....................................................................................................................................30
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TOPIC: “What talent strategies do the best companies use to attract and
retain people”
INTRODUCTION
Talent management is one of the important aspect with regard to every company including M&S.
it will lead to attracting and retaining employees in the organization. Being a wide concept its
main elements include the attraction and retention of employees in the organization. This project
will discuss about the various aspect of research including primary and secondary research.
Likewise, a detailed section of research methodology and data analysis and its interpretation is
also a part of this research.
Organizational Overview:
M&S is one of the famous retailing company of UK. It was founded in 1884. Its
headquarter is in London. It is famous for clothing and food products and other related products
too. Its main mission of to ensure best and quality delivery to every individual and person. It is a
British retailer that bring quality, great value food, clothing, homeware and various other
products among customers across the world.
Overview of research project:
This research project will focus over the concept of best talent management strategies that
can be adopted by M&S in its business operation that could assist the company to grab success.
This research project also covers a detailed project management plan which will outline the
various aspect of project including cost, resources and various others. A detailed explanation
regarding research mythology is also a part of this research which is further supported by
primary research. Lastly, on the basis of observation a detailed conclusion and recommendations
are also presented with respect to topic.
Background:
Talent management is an important aspect with respect to organization. It will enable the
company to make attraction and retention of employees. In order to implement and execute this
concept it is important that adequate strategies in the form of enabling career advancement
opportunities, training and development will be provided so that the employees will retrain in the
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organization. Like, other organization TM also plays an important role in M&S also because it
will assist the company to move in the direction of success along with grabbing of success.
Aims and objectives
Aim
“To identify best talent management strategies for the M&S to attract and retain people “
A study on Marks and Spencer’s (M&S)
Objective
 To understand the concept of talent management (TM) practises used by human resource
department.
 To identify TM strategies to retain and attract people for the M&S
 To evaluate the impact of TM practises on workplace of M&S.
 To analyse the challenges faced by the M&S from implementation of TM strategies.
 To recommend strategies that could be helpful in overcome the challenges from TM
implementation.
Research questions
Q1 Concept and importance of TM practises at the workplace.
Q2 Role of TM Strategies to retain and attract skilful employees for the organisation ?
Q3 What are the challenges from the implementation of TM strategies ?
Q4- Strategies that could be used to overcome the challenges from TM ?
Rationale
The reason behind conducting research on the TM strategies is to identify the importance of
talent management in attracting and retaining employees for the Marks and Spencer (Boštjančič,
and Slana., 2018). Researcher is focusing on lots of talent management activities that could be
helpful in improvement of business. It will provide enough strategies to bring skilful employees
for the organisation to bring skilful employees for the organisation and they will able to take
competitive advantages. The reason behind selection of topic on talent management is to identify
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the strategies that could assist the M&S to retain and attract employees who can work effectively
for the company and provide competitive advantages to them.
Significance
It is necessary for the researcher to have a quality research on the topic as it is also important for
the company to work better. this research could be helpful for readers and people who are having
a good understanding about the tenant management strategies. another significance of topic on
talent management strategies is that company will able to attract skilful people and return
performance of the employees.
LITERATURE REVIEW
Importance of talent management
According to the Pandita, and Ray (2018) Talent management is one of the most important part
of organisations that is helpful in attracting and retaining employees and also provide
competitive advantages to the organisation. It is not just a key term of human resource
management but it also committed to retain, develop, attract and hire most talented employees
who can help organisations to achieve success in their business. it can be helpful in attracting top
talent, motivate employees, continuously coverage of critical role, improvement in performance
of employees, helpful in employee engagement and also retain the top talent or the organisation
and also improve companies performance as well.
However, talent management is an long term process and it is necessary for the leaders and
managers of the organisation to take decision if they want to implement these strategies or not. it
is necessary for the human resource department to implement these strategies effectively and
they should have a knowledge about talent management so they can use strategies effectively.
Talent management strategies to attract and retain employees
As per the view of Rawashdeh, (2018) There are various strategies that could be used by the
human resource department would react and retain skilful employees and make their workplace
more effective and productive. smart hiring strategies could be adopted by the organisations to
attract and retain employees and it could be to identifying the jobroles, type of work and skills
needed and many more other strategies. involving employees in recruiting can also be effective
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talent management strategy that could be used , they can also help in attracting top talent by
showing the best potential hires that they also could be happy at the business.
However, it is necessary for the human resource management team to have a good knowledge of
recruitment and selection strategies so they can attract and retain employees. if they are just
using the simply recruiting without knowing the skills and job role of the particular job. then the
employees will not able to perform and they will be not that effective or productive.
Kravariti and Johnston, (2020) also states that in order to implement TM in organization a focus
over the concept of attracting human resource need to be considered. This means that in order to
attract the best employees for the organization, wider approach in the form of broadening the
scope through social media and digital mode will be used. Likewise, building a positive and
employee’s friendly work culture will lead to have better retention of employees. in the same
way enabling career opportunities, work towards the direction of raising motivation among
employees will also assist the organization to increase their retention ratio and percentage.
Challenges from talent management strategies implementation
According to the Whysall, Owtram, and Brittain, (2019) There are various challenges from the
talent management implementation. One of the biggest challenge is lack of leadership , to have
attractive and Effective implies it is necessary for the organisation to have a effective leaders
otherwise it can be challenges to implement talent management strategies and it can demotivate
the employees. lack of knowledge about talent management strategies could also be lead in
failure of implementation.
Tafti, Mahmoudsalehi and Amiri, (2017) also states that along with these challenges
inexperience with technology, high turnover rate, inadequate hiring strategies are also act and
occur as major challenges with regard to talent management. An existence of these challenges
will outcome as major barrier in the direction of implementing talent management.
However, on a critical note Whysall, Owtram and Brittain, (2019) said that adoption of
corrective actions and best strategies in the form of enabling employee’s devoted work culture
and formulation of policies as per employee’s benefits and betterment will lead to overcoming of
the challenges. Enabling training will also plays an important role in overcoming the challenges.
However, There are some strategies that could be helpful for human resource department to
overcome the challenges from talent management implementation. leaders and managers should
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communicate the employees about new policies and procedures of talent management and make
them understand how it is effective. human resource team can take advice from the expert in the
industry so they could implement successfully.
Project management plan
Project management plan
It is an important aspect with regard to project management and research. It includes the essential
aspect with regard to project that are needed to be considered while performing and proceeding
research. It includes the following aspects:
Cost:
It is an important aspect with regard to the current research in association with talent
management. Allocation of funds in an appropriate manner and its efficient utilization is all
included in this element. It is also important that the project will be accomplished within the
assigned cost. With respect to this research on strategies of talent management strategies an
estimated cost would be £1500.
Time:
Like cost time, is again an important aspect with regard to project management. It is important
that the project will be accomplished within the allotted time. Being a crucial aspect it is
important to have a management and prioritization of activities so that the project will be
accomplished in given time. Under this project the required time would be 2 months under which
the various and best strategies of talent management will be ascertained.
Communication:
No project would be accomplished without the aspect of communication. This means that there
must be effective communication with regard to concerned personnel’s of the project so that it
will be performed in the desired direction and manner. In order to ensure effective
communication email will be used so that the concerned personnel may make effective
communication with each other during executing the various steps in association of this project
of talent management.
Quality:
It is also important that the quality with regard to project will be maintained so that the project
and the concerned research will be valid and reliable. In order to ensure validity and maintenance
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of quality both the sections of primary and secondary data are included so that the overall quality
of this project with respect to identification of best strategy of TM would be possible.
Risk and resources:
The major resources including human capital and technological resources are used. However, the
major risk includes the shortage of funds, operational risk and time factor may act as hindrance
in the path of the project execution (Goh, and Okumus., 2020). It is to be noted that the risk was
overcome by inculcating secondary research so that the cost and the time will be saved. This will
also lead to make this project to be more efficient.
Scope:
The scope concerned with this research includes the concerned process, its stakeholders and the
corporate world as whole (Maurya, and Agarwal., 2018). Talent management being a wide
concept applicable to almost every companies along with playing a major role with regard to
assisting them towards the direction of success. Thus, the scope of this research will equally be
applicable in case of M&S in the context of TM.
Produce work breakdown structure, Gantt Chart and timeframes
Work breakdown structure
Gantt chart
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