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Innovative Methods for Strategic Talent Management at Marks & Spencer

   

Added on  2022-11-28

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MANAGING A
SUCESSFUL BUSINESS
PROJECT
Innovative Methods for Strategic Talent Management at Marks & Spencer_1

TABLE OF CONTENT
SECTION 1- INTRODUCTION.....................................................................................................3
SECTION 2- PROJECT MANAGEMENT PLAN.........................................................................4
SECTION 3- RESEARCH..............................................................................................................6
What are the innovative methods and new initiatives adopted by Marks & Spencer to work for achieving strategic
approaches to talent management?.........................................................................................6
What is the impact of innovative methods and initiative for strategic approaches to talent management? 6
What are the issues that are faced by Marks & Spencer while formation of strategic approaches to talent management?
................................................................................................................................................6
SECTION 4- FINDINGS AND RECOMMENDATIONS.............................................................8
SECTION 5- EVALUATION.......................................................................................................14
SECTION 6- CONCLUSION........................................................................................................16
APPENDICES...............................................................................................................................18
Innovative Methods for Strategic Talent Management at Marks & Spencer_2

SECTION 1- INTRODUCTION
Employees are the most important resource of each and every company. So companies make talent management
strategies so that they can right employee for performing their work. It becomes necessary for firms to satisfy employees
so that they could work for the company and its main motive that achieving goals (Sivathanu and Pillai, 2019). In the
present project aim is to collect data about the new initiatives and innovation for achieving strategic approaches to talent
management. For this the chosen organization is Marks & Spencer that deals in clothing, food products, fashion
accessories and many more.
Research Aim: “To investigate about the initiatives taken by companies for the attainment of successful strategic
approaches to talent management.” A study on Marks & Spencer
Research Objectives:
To determine the innovative methods and new initiatives adopted by Marks & Spencer to work for achieving
strategic approaches to talent management
To highlight the impact of innovative methods and initiatives for strategic talent management on employees and
business performance within Marks & Spencer
To identify issues that are faced by Marks & Spencer while formation of strategic approaches to talent
management
Research Questions:
What are the innovative methods and new initiatives adopted by Marks & Spencer to work for achieving strategic
approaches to talent management?
What is the impact of innovative methods and initiative for strategic approaches to talent management?
What are the issues that are faced by Marks & Spencer while formation of strategic approaches to talent
management?
Innovative Methods for Strategic Talent Management at Marks & Spencer_3

SECTION 2- PROJECT MANAGEMENT PLAN
Project management plan is basically a formal document that clearly shows how project or research needs to be taken out
systematically. This plan outlines the timeline, deliverables, goals budget, scope of projects and it is necessary to keep
continuous track on a project.
Time
Time is one of the significant components that assist project manager towards completion of every task and activity of the
research in the decided time duration. In respect of completing project 5 months will be needed by project manager
(Roberts, 2019).
Resources
Project manager has used multiple resources for the collection of secondary information related to strategic approach to
talent management. The sources include magazines, articles, publications etc. Transportation and internet are the other re-
sources that are required for completing project.
Quality
In the current project quantitative data is gathered that gives great quality information to reach the level of accurate
results. Numerical data is more accurate and relevant towards the requirement of present project (McAlister, 2016).
Cost
In respect of completing all steps in the current project, researcher has formed budget for doing expense. The requirement
of funds is £300 so that every activity could be taken out efficiently and effectively (Devi and Reddy, 2019).
Gantt chart
It is the chart that gives pictorial description of the activities needed to perform and with the appropriate time period. In
this there are two bars that are in one activities are shown and in another end date and start date are mentioned (Kumar,
2017).
Innovative Methods for Strategic Talent Management at Marks & Spencer_4

WBS Structure
Work breakdown structure is the type of tool that facilitates in converting large activities into small activities so that
project manager could give attention to every activity. This way researcher can complete each activity at right time with-
out any hurdle.
Innovative Methods for Strategic Talent Management at Marks & Spencer_5

SECTION 3- RESEARCH
SECONDARY INFORMATION
What are the innovative methods and new initiatives adopted by Marks & Spencer to work for achieving strategic
approaches to talent management?
According to Ntaopane and Vermeulen (2019), strategies of talent management is defined as magical ingredient because
it assists in managing talent of organization current as well as potential. The different types of innovative methods and
initiatives adopted by Marks and Spencer to work for achieving strategic approach to talent management are:
Employing and building talent
It is defined as a process of addressing the particular aspirations and requirements of talented employees. Marks
and Spencer make sure that these aspirations are balance with the long-term and short-term objectives of company. Com-
pany makes sure that talent is placed for right responsibility to fill the gaps. And make sure that every individual is grow-
ing with the development of the organization.
Converting goals of business into employee goals
Marks & Spencer develops employees in order to achieve business goals. The company makes sure that objectives of
business are mapping with the aspiration of individuals working in the workplace. This assists in taking employee as well
as growth of the organization together. Employees are guided at every step that there goal is interconnected with the
company’s goal so it is necessary to achieve goals so that company could achieve its objective (Bhatia and Baruah, 2020).
What is the impact of innovative methods and initiative for strategic approaches to talent management?
According to (Sivathanu and Pillai, 2019), there is positive impact of innovative methods and initiatives for strategic
talent management on the performance of employees as well as performance of business within Marks & Spencer because
these methods assist in attracting the best talent. As the strategies create opportunity of attracting employees who are
skilled for the vacant job position. Employees get motivated as company satisfies their needs and requirements that make
them to stay in the same firm and do their activities. Performance of business also increases because these strategies assist
in having employees that are engaged motivated and skilled. These employees always work at right direction so that each
goal of the company gets achieved within the shorter period of time.
The strategic talent management’s innovative methods make employees to stay honest and loyal towards their customers
and clients. This attracts clients towards company and they rapidly visit which ultimately increases the profitability and
revenue level.
What are the issues that are faced by Marks & Spencer while formation of strategic approaches to talent management?
According to Sparrow (2018), managers of Marks & Spencer face many problems while coming up with these new
initiatives of strategic approaches to talent management. Some of them are:
Innovative Methods for Strategic Talent Management at Marks & Spencer_6

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