Challenges of Talent Management and Strategies for Staff Retention at Tesco

Managing a Successful
Business Project
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CHAPTER 1....................................................................................................................................4
INTRODUCTION...........................................................................................................................4
P1 Aim and objectives............................................................................................................4
CHAPTER 2....................................................................................................................................5
Literature Review.............................................................................................................................5
Notion of talent management.................................................................................................5
Challenges of Talent management which is facing by TESCO.............................................6
Numerous strategies that TESCO can adopt to overcome the challenge of staff retention. . .7
P2 Project Management Plan..................................................................................................7
P3 WBS and Gantt chart........................................................................................................8
CHAPTER 3..................................................................................................................................10
P4 Carry out small-scale research applying primary and secondary methods appropriate for
meeting project aims and objectives.....................................................................................10
CHAPTER 4..................................................................................................................................13
P5 Data Interpretation.........................................................................................................13
CHAPTER 5..................................................................................................................................18
P6 Recommendations.........................................................................................................18
CHAPTER 6.................................................................................................................................20
P7 Reflection.......................................................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22
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CHAPTER 1
INTRODUCTION
Talent management is defined as a practice in which an organisation engages in the
operations of constantly attracting and retaining employees with the help of motivating
techniques. This practice enhances overall growth and development of an organisation in
respective industrial sector (Gallardo-Gallardo, Thunnissen and Scullion, 2020). Present report
has been conducted on Tesco which is conducting its business functioning in retail industry.
Company is having global reach and perform its business functions with number of employees.
In this report format of discussion has been conducted on the challenge of talent management
which is facing by organisation. In order to accomplish this research aims, objectives, research
questions and literature review is conducted. In addition to this project management plan, work
breakdown structure, Gantt chat, research methodology and data interpretation is included in this
report. Along with this recommendation is also been provided to company through which they
can overcome the challenge of talent management.
P1 Aim and objectives
Research Aim:
“To identify the challenge of staff retention facing by an organisation”. A case study of
TESCO.
Research Objectives:
 To determine the notion of talent management. To identify the challenges of Talent management which is facing by TESCO? To determine the concept of staff retention? To recognize numerous strategies that TESCO can adopt to overcome the challenge of
staff retention.
Research Questions:
 What is notion of talent management?
 What are the challenges of Talent management which is facing by TESCO?
 What is the concept of staff retention?
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 What are the numerous strategies that TESCO can adopt to overcome the challenge of
staff retention?
CHAPTER 2
Literature Review
Notion of talent management
According to the view point of Anlesinya and Amponsah-Tawiah, 2020 talent management
is a continuous process in which an organisation engaged in the activity of attracting and
retaining experienced, talented and skilled employees by motivating them and developing their
skill and performance. Main aim behind talent management is to develop a motivated workforce
through which organisational objectives and vision can be accomplished with higher efficiency.
In order to manage talent it is essential for an organisation to invest in employees as they are
major source of company higher profitability and productivity. It is essential for an organisation
to engage in a strategic process to get right talent on board and provide effective support and
help them to grow (McDonnell and Wiblen, 2020). With the help of talent management an entity
can significantly improve their business practices and can further assure higher competitive
advancements in the industry. In addition to this it has been identified that talent management
effectively enhances long-term sustainability of an organisation through which company can
assure more profitability and growth. There are mainly four pillars of talent management that are
recruitment, performance management, learning and development and retention. It is essential
for HR of an organisation to hire or recruit right employees for right jobs. With the help of best
strategy HR is required to attract skilled and experienced employees for workplace practices.
Once they get hired, it is essential for organisation to measure their performance with company
standards and provide them proper training and development courses through which their skill
gap can be fulfilled. Performance review can be effectively undertaken by an organisation with
the help of performance reviews strategies and communication. It is essential for an organisation
to undertake advantage of performance management strategies in order to measure performance
of employees according to organisation objectives. Learning and development is one of the most
important cycles for employee retention through which existing skills and performance level of
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employee can be accomplished. It is essential for an organisation to attract best talent, support
them and feel them engaged into company practices in order to motivate their performance
towards organisational goals and objectives.
Challenges of Talent management which is facing by TESCO
As per the view point of Wassell and Bouchard, 2020 talent management is one of the
most important aspects for organisations through which they can effectively retain and manage
performance and productivity of employees. Challenges of talent management may get arise due
to unappealing culture of company, lack of leadership, pressure upon employees and other
aspects. In addition to this ineffective communication between managers and employees is also
one of the most important reasons that arises challenges of talent management. It has been
identified that in retailing sector talent management issues or challenge mainly get experienced
by organisation if there is poor hiring strategy, ineffective leadership and employee turnover.
These challenges not only affect profitability of an organisation but also lower down its goodwill
in a market place. It is essential for an organisation to have effective form of leadership in order
to manage talent and provide effective guidance to employees. It has been identified that
employees are one of the most important aspect for an organisation that increase its profitability
and productivity in a well defined and effective manner. Thus, it is essential for organisation to
have best recruitment strategy, staff management plan in order to prevent high employee
turnover. It has been identified that Tesco is facing with the challenge of staff retention in which
some of their stores are facing high labour turnover due to many reasons such as ineffective
culture, lack of communication, lack of employee engagement and more.
Concept of staff retention
According to the view point of Clarke and Scurry, 2020 staff retention is mainly defined
as an ability of a company to retain employees for longer of time. Staff retention is one of the
most important measures for an organisation that allows company to accomplish its
organisational objectives with talented and skilled workers. There are mainly 5 key drivers of
employee retention through which an organisation can retain employees for longer period of
time. These drivers are flexibility, employee benefits, career development, good manager and
employee relationship and personalized employee experience. It is essential for an organisation
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