Talent Management in Retail Industry: A Case Study on Marks and Spencer

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Aim and objectives for the project........................................................................................3
P2. Project management plan......................................................................................................4
P3. Work breakdown structure and Gantt chart...........................................................................5
TASK 2............................................................................................................................................7
P4. Research methodology to achieve project aims and objective..............................................7
TASK 3............................................................................................................................................9
P5. Analysis of data and findings................................................................................................9
P6. Recommendations...............................................................................................................14
TASK 4..........................................................................................................................................15
P7. Reflection............................................................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
APPENDIX....................................................................................................................................17
Project log-book.........................................................................................................................17
Performance review template....................................................................................................19

INTRODUCTION
Talent management is a fundamental notion in the management of an organization’s whole
workforce. This approach aids in the retention of talented employees for extended periods of
time, which can aid in the process of reducing the high costs associated with employee turnover
(Halperin and Heath, 2020). Some of the most efficient personnel management tactics are being
implemented by retail sector companies like Marks & Spencer for this aim. The current study
will examine the numerous basic management tactics that may be utilised, as well as the various
difficulties that must be addressed, in order to maximise the efficacy of retaining and attracting
qualified people.
TASK 1
P1. Aim and objectives for the project
Aim
“To assess the many forms of talent management methods used by the retail industry in order to
maintain and attract qualified employees.” A case study on Marks and Spencer.
Objectives
 To gain a fundamental understanding of the basic talent management practises utilised in
the retail industry
 To determine the various talent management tactics used by Marks and Spencer to retain
and attract qualified employees.
 To examine a variety of difficulties that managers and leaders confront when
implementing talent management initiatives.
Research question
 What is the fundamental principle of basic talent management in the retail industry?
 What are the various talent management tactics used by Marks and Spencer to retain and
attract qualified employees?
 What are some of the challenges that managers and executives encounter when it comes
to implementing talent management strategies?
LITERATURE REVIEW
Talent management practices used in retail sector

According to SUSAN, (2019), The term “talent management” refers to a way that a firm might
employ to bring in the right people and keep them on board for a long time. Furthermore, with
the help of talent management, noteworthy qualities of staff members can be highlighted,
allowing organisational goals to be met within a certain time frame (Coolican, 2017). Career
growth, learning, motivation, and many other aspects of personnel management are all important.
Talent management is now considered one of the most significant components of a business, as it
is linked to achieving a competitive advantage in the marketplace.
Various talent management strategies adopted by Marks and Spencer for retaining and
attracting competent workforce
According to Corgi, (2021), Employee motivation, improved performance, and creativity are all
aspects of talent management that contribute to an organization's success. Furthermore, it
examines those strategies that are particularly useful for large organisations operating in a highly
competitive business climate. Marks and Spencer are a major retailer in the United Kingdom. It
has built a human resource management approach that allows it to continue to recruit and retain
talent over time (Ivanov and Dolgui, 2021). Different tactics are utilised by different
organisations in order to manage and retain talent. Targeted recruitment, job advertising, and the
usage of career portals were all used by the individual company to achieve this goal.
Issues faced by managers and leaders in implementation of talent management strategies
As per the view point of Andre (2018), It has been discovered that executing talent management
techniques presents a number of problems for managers and executives. One of the issues is
employee retention, as today’s employees are more focused on their careers and prefer to stay at
a job where they can advance their careers and gain new skills. Aside from that, another problem
is identifying high-potential talent, which is incredibly tough at the moment (Bertrand and
Hughes, 2017). Ineffective leadership is also an issue because managers are unable to guide and
facilitate suitable duties and responsibilities to staff members, resulting in activities not being
implemented successfully and on time.
P2. Project management plan
A project is described as a study that is carried out for the purpose of completing a specific
aspect and achieving the goal for which it was started. Furthermore, a project is primarily
established to fulfil a specific goal, and a good project management plan is essential to do this.
Project management is divided into several phases, including initiation, effective planning,