Importance of Conceptualising Approaches to Talent Management

This research paper focuses on the operational working of Halfords and the strategies introduced by the company for retaining talented employees. It explores the importance of conceptualising approaches to talent management and its impact on enhancing competitive strength and business performance. The research aims to review the strategic concepts of talent management, investigate talent strategies adopted by best companies, and determine the impact of talent management on Halfords. The paper includes a project management plan and small-scale research using primary and secondary methods. It also presents data and findings using appropriate tools and techniques.

MANAGING A
SUCCESSFUL BUSINESS
ENTERPRISE

Contents
Topic: Importance of conceptualising approaches to Talent management...........................................3
INTRODUCTION.....................................................................................................................................3
TASK 1....................................................................................................................................................3
Project aims and objectives...............................................................................................................3
Project Management Plan.................................................................................................................4
TASK 2....................................................................................................................................................7
Small scale research applying primary and secondary methods appropriate for meeting projects
aims and objectives...........................................................................................................................7
TASK 3....................................................................................................................................................9
Presentation of data and finding using appropriate tools and techniques........................................9
Recommendations and data analysis to draw needful and meaningful conclusions.......................16
TASK 4..................................................................................................................................................17
Reflection........................................................................................................................................17
CONSLUSION.......................................................................................................................................18
REFERENCES........................................................................................................................................19
Books and Journals..............................................................................................................................19

Topic: Importance of conceptualising approaches to Talent management
INTRODUCTION
Considering today’s business environment in which various managers and leaders of a
business firm has to deal with not only uncertainties in firm’s operational environment but
also have to keep a regular check on company’s competitors in given marketplace of the
workforce. Management department of different companies in order to deal with such
challenges introduces various innovative strategies and plans for ensuring effective working
of an organisation (MELNIC, C., 2017). Talent management is among the management
methods in which business administrators organise separate preparation and advancement
plans for specific talented employees in order to attract and handle talented employees in the
company.
The presented research paper will focus on operational working of Halfords and various
strategies introduced by chosen company for retaining talented employees working in the
operational firm (Rezaei and Beyerlein, 2018). Respective workforce dedicates its operational
working in manufacturing of car parts, tools, touring equipment and bicycles in UK region. It
was founded in 1892, by its founder F W Rushbrooke and is headquartered in Redditch,
Worcestershire, England.
TASK 1
Project aims and objectives
Talent management is a strategic approach in which various plans as well as strategies
are being focused of respective management department of the workforce on developing and
retaining talented employee in the company (Alferaih, 2018). With context to chosen
company i.e. Halfords, Graham Stapleton, who is the current CEO dedicates company’s best
resources to ensure quality of efforts being produced by various staffs and desired goals and
objectives of business firm is achieved with effective utilisation of valuable resources of the
business firm. Various talent management approaches are being used in respective workforce,
such as;
 Developing Job Description

 Provide Opportunities to Develop
 Performance Assessments
 Selection Process
 Effective Compensation
In order to understand concept of talent management approaches within chosen
organisation as well as various difficulties faced by managers to implement such
approaches, research aims and objectives are being formulated. In regards to chosen
organisation these are as follows:
Research Aim
To determine about the importance of conceptualising approaches to talent
management along with analysing its impact in enhancing competitive strength
and business performance. A case study on Halfords.
Research Objectives
 To review about the strategic concepts of talent management along with analysing
importance of conceptualising approaches of Talent Management.
 To investigate about the Talent strategies which are adopted by best companies in
order to attract and retain skills and talented employees.
 To determine the impact of talent management in enhancing the competitive strength
and business performance of Halfords.
Project Management Plan
Project management plan refers to a formal document in which strategic breakdown
of company’s goals and objectives is being carried out (Alias and et. al., 2017). This paper
assists managers in tracking the numerous attempts made by various entities employed in a
corporate firm and developing and modifying organisation policy in response to the changing
business climate. In the case of the selected firm, administrators and executives use this plan
to boost the organization's effectiveness. To guarantee that the organisation is running
effectively against its goals. To facilitate the accomplishing organizational operating for the
achievement of desired goals within a specific timeframe. It includes various aspects which
needs to be focused by managers of the business firm;

Cost: It refers to planning and specifying cost needed for conducting several
operational activities in order to attain desires aims and objectives of the business enterprises.
In reference to this research paper, it refers to amount that is needed for a researcher to
conduct research on given topic. For conducting this research paper, there is requirement of
2000 bucks.
Particulars Amount
Marketing 200
Inventory 400
Plant and machinery 1100
Print media 300
Total 2000
Scope: With regards to this research paper, it fits perfect to fulfil requirements of
mentioned aims and objectives of this research paper. This will help to identify importance of
talent management approaches and will also focus on impact in talent management in
evaluating strengths and weaknesses of chosen organisation i.e. Halfords.
Quality: It includes collection of data and information from reliable and trusted
sources, for ensuring better quality of meta-analysis and also delivers good impression in
minds of its readers. In this present research paper all data and information is being extracted
from reliable sources (Hughes, 2019).
Time: It refers to time taken for completion of a specific project. For the current
research time of 2.5 months will be required for completion of this project.
Communication: It is regarded as a significant factor for a company different
operating activities. It entails the development of good contact between the various
employees of a company in order to ensure improved management of activities and the
creation of a profitable company. The use of electronic networking methods ensures proper
interaction during the preparation of this research study. Proper coordination is maintained
during the preparation of this research study by using current communication technologies
such as E-mails, teleconferencing, and others.

Resources: They act as a fuel for completing desired aims and objectives of specific
research paper. For developing this research paper, effective utilisation of resources is being
taken care, as with the fact of their limited presence in a business society.
Risk: It is a universal factor which has its presence in almost operational field or area
of a business firm. Risk element for this research paper is that to develop quality of research
within given resources and presence of uncertainties while developing this research project.
Work Breakdown structure and a Gant Chart
It refers to systematic breakdown of operational work in an organisational structure
and dedicates its efforts for successfully completion of desired objectives of the workforce
structure (McGuire and et. al., 2018). For better convince, usually respective project tasks are
being divided into small goals as well as objectives. This ensures proper organised work and
better coordination which enables effective utilisation of valuable resources of the business
firm.
Gantt chart
It is an excellent tool that is used for graphical presentation of various tasks and
activities to be performed or being performed in past by the company. This gives clear
understanding of true status of respective projects initiated by a company and also presents
time taken by company to complete a project that helps manager of firm to develop counter
strategies that enable firm ability to function more effectively by avoiding various issues
faced by the firm to in past and ensures it is not faced in future projects of the company.

TASK 2
Small scale research applying primary and secondary methods appropriate for meeting
projects aims and objectives
Research methodology refers to method by which research is being conducted by the
researcher. In general sense, it refers to various aspects being concentrated by a researcher
while performing a research (Ngamsirijit, 2019). In this research quantitative and qualitative
research methodology is being used.
Quantitative Research: In this type of research type, all data and information is being
collected in form of statically data and numbers. This helps in delivering of research
considering various facts and figures which adds up to reliability of report.
Qualitative Research: In this element of research type, collection of data through
interviews and different surveys is being performed. This helps developing of report by
keeping in mind current trend as well as behaviour of various individuals with response to
any company’s strategies or policy being adopted by it.
Data collection: This element ensures effective collection of required data for
ensuring quality of research paper. For conduction of this research primary and secondary
research is being performed.
Primary data collection: It includes extraction of desired data from performing self-
researches such as by performing or organising interviews or conducting surveys (Sehhat and
et. al., 2019). In this method usually data is being extracted directly from the source rather
than visiting any official website or reading books and journals.
Secondary data collection: This type of data collection includes extracting up of
required data by secondary sources such as reading newspaper, books, Journals or by
browsing internet online e-books and many more.
Sampling: It focuses on determining whether or not different principles and policies
used in the development of research are successful. This is accomplished by recruiting a
small group of citizens from a larger group (Cooper, 2019). Throughout this research study,
20 applicants are selected at random from among Halfords personnel but were questioned a
series of questions about the chosen subject.

Questionnaire
Name-
Age-
Gender-
1) As per your prospective, what is the important benefit of talent management in
context of organization?
a) Retain Best Talent
b) Development of employees
c) Retain key talent
2) In which manner, talent management and its strategies affect the company’s
productivity?
a) Positive
b) Negative
3) Are strategies of talent management useful in employee’s participation in company
for long time period?
a) Yes
b) No
4) What are the numerous applications of talent management which Halfords can use to
attract the high talented and potential employees?
a) Talent Recognition
b) Talent Development
c) Talent acquisition
d) Talent Classification
5) What is the crucial role of Human Resource function in talent management?
a) Hiring right candidate
b) Develop effective management policies
c) Design integrated systems

6) What is the different issue faced by Halfords related to talent management?
a) Tightening talent market
b) Improved employee turnover
c) Lack of the leadership quality
7) What are different method through which Halfords can make do enhancement in
strategies of talent management?
a) Consider career development opportunities
b) Prioritize outcomes
c) Identify aims
d) Create a healthy working atmosphere
TASK 3
Presentation of data and finding using appropriate tools and techniques
1) According to you, what is the important
benefit of talent management in context of
organization?
Respondents
a) Retain Best Talent 5
b) Development of employees 8
c) Retain key talent 7

a) Retain Best Talent b) Development of
employees c) Retain key talent
0
1
2
3
4
5
6
7
8
9
5
8
7
The important benefit of talent
management
Respondents
Interpretation - As per this analysis it can be said that development of employment is the
most important benefit for the organization. Most of the respondents agreed. Out of 20
respondents 8 responded that talent management lead the development of employees.
2) In which way, talent management and its
strategies affect the company productivity?
Respondents
a) Positive 16
b) Negative 4
a) Positive b) Negative
0
5
10
15
20 16
4
Talent management and its
strategies affect the company
productivity
Respondents
Interpretation - According to this research it can be said that talent management and its
strategies give positive impact on the company productivity. From 20 respondents over all 16
responded that with the help of talent management Strategies Company can increase their
productivity.

3)Are strategies of talent management useful in
employees participation in company for long
time period?
Respondents
a) Yes 14
b) No 6
a) Yes b) No
0
5
10
15 14
6
Talent management useful in
employees participation in company
for long time period
Respondents
Interpretation - After this research it is analyses that 14 respondent's out of 20 responded
that talent management is really useful to retain employees for longer time period so that
company can enhance their market value through high skilled employees.
4) What are the different applications of talent
management which Halfords can use to attract
the high talented and potential employees?
Respondents
a) Talent Recognition 10
b) Talent Development 5
c) Talent acquisition 3
d) Talent Classification 2

a) Talent
Recognition b) Talent
Development c) Talent
acquisition d) Talent
Classification
0
2
4
6
8
10
12 10
5 3 2
Different applications of talent
management
Respondents
Interpretation - According to this analysis it can be considered that most of the respondents
agreed that talent recognition is the best method used by the company so that they can attract
and influence the talented and potential employees so that company prepare a productive
team which help in Development of organization.
5) What is the crucial role of Human Resource
function in talent management?
Respondents
A) Hiring right candidate 9
B) Develop effective management policies 7
C) Design integrated systems 4
A) Hiring right
candidate B) Develop effective
management
policies
C) Design integrated
systems
0
2
4
6
8
10 9
7
4
Role of Human Resource function in
talent management
Respondents
Interpretation - As per this research, it can be said that the crucial role which human
resource function is play that hiring right candidate. Most of the respondents responded that
HR of the company can hire right candidate for the specific job purpose helpful for the
organizational development.

6) What is the different issue faced by Halfords
related to talent management?
Respondents
a) Tightening talent market 11
b) Improved employee turnover 6
c) Lack of the leadership quality 4
a) Tightening talent
market b) Improved
employee turnover c) Lack of the
leadership quality
0
2
4
6
8
10
12 11
6
4
Different issue faced by Halfords
related to talent management
Respondents
Interpretation - According to this report, it is considered that main issues that is faced by
Halfords Company in context of talent management is tightening target market. 11
respondents agreed that because Halfords is a big organization so company need to more
focus on talent management activities.
7) What are different method through which
Halfords can make do enhancement in
strategies of talent management?
Respondents
a) Consider career development opportunities 7
b) Prioritize outcomes 5
c) Identify aims 6
d) Create a healthy working atmosphere 2

0
2
4
6
8 7
5 6
2
Different method through which
Halfords can make do enhancement
in strategies of talent management
Respondents
Interpretation - This research identified that company need to consider the career
development opportunities which helpful in improvement in the strategy of talent
management. 7 respondents in favour of this method so that company need to consider this
method which help in enhancement in talent management and its strategies.
Recommendations and data analysis to draw needful and meaningful conclusions
As by analysing the above presented research paper, there are some recommendation
that are to be drawn out in context to chosen company i.e. Halfords. It will evaluate on
various aspects being focused in the report and will also provide effective solutions to counter
respective issues or challenges faced by managers and leaders of selected firm while
operating its respective operational activities.
 As the employee turnover ratio is high for Halfords, concerned departments of
respective business firm should ensure effective motivational techniques being
provided to respective staff working in an organisational structure. It is to be
recommended to managers of the organisation to provide timely appraisals to
deserving or talented employee, this would help in retaining up of employee working
in an organisation.
 Company should focus more on various facilities provided to talented or experience
staffs working in the company. By providing suitable working conditions in working
structure of the business firm, it will enable managers to implement respective planes
and strategies without hampering positive working environment of the workforce.

 Respective workforce should focus more on its communication channels. This would
helps firm to avoid duplication of efforts.
 Effective training and development programs would help company to increase its
productivity and avoid cost incurred in recruitment and selection process of the firm.
TASK 4
Reflection
In this report, I successfully completed my research task and I feel grateful because I
got a good opportunity to research and analysis the advantage and issues in context of talent
management. From my academic experiences and knowledge, I got a chance to understand
the significance of talent management. For this research report, I considered qualitative and
quantitative research methods which is really helpful to make my data more valid and
reliable. This helps in to accomplish my research aim very efficiently. For primary data
collection, I prepared a questionnaire and conduct survey and for secondary data collection I
mainly preferred books, journals. Moreover, I also enhance communication and critical
problems solving skills. I also learn time management skills this will help me career and I
also use these skills to prove my capabilities to take any challenge and give my best. I also
noticed my strengths and weakness that helped me to reduce my threats so that I can take any
future opportunities very effectively. Thus, this project has provided me a chance to work on
new skills and knowledge and give me strength to overcome any issues.
CONSLUSION
From the above analysis of above research paper, it could be analysed that project
plan management plays an important role in developing an effective research paper. For
ensuring better quality of report, work breakdown structure is necessary, this not only ensures
better quality of report building but also ensures effective utilisation of valuable resources of
the business firm. With addition to that, preparation of Gantt chart and performing primary
and secondary research type helped researcher to bring in quality of presentation of report
through effective presentation of charts and diagrams.

REFERENCES
Books and Journals
Alferaih, A., 2018. Advances in Talent Management Research: A Review of Extant
Literature. Emerging Markets from a Multidisciplinary Perspective, pp.359-379.
Alias, N.E. and et. al., 2017. Towards effective employee retention strategy: Implementation
of talent management in information, communication and technology
companies. Advanced Science Letters, 23(8), pp.7857-7860.
Cooper, C., 2019. Foreword: Regrettable turnover–talent management. In Research
Handbook of International Talent Management. Edward Elgar Publishing.
Hughes, C., 2019. Using workforce inter-personnel diversity as a unique talent management
system component. In Workforce inter-personnel diversity (pp. 47-80). Palgrave
Macmillan, Cham.
McGuire, D. and et. al., 2018. Talent development in the United Kingdom. Global Issues and
Talent Development: Perspectives from Countries around the World, pp.9-24.
MELNIC, C., 2017. TALENT MANAGEMENT-EFFICIENT TOOL IN ANY
ORGANIZATIONS'DEVELOPMENT. In Поколение будущего: Взгляд молодых
ученых-2017 (pp. 15-18).
Ngamsirijit, W., 2019. Talent management through integration of talent value chain and
human capital analytics approaches. International Journal of Economics and
Management Engineering, 13(6), pp.853-856.
Rezaei, F. and Beyerlein, M., 2018. Talent development: A systematic literature review of
empirical studies. European Journal of Training and Development.
Sehhat, S. and et. al., 2019. Providing a Model for Predicting the Successful Implementing of
Talent Management in Knowledge-based Companies Using Fuzzy Inference
System. Journal of Strategic Management Studies, 10(37), pp.41-60.