Talent Strategies for Attracting and Retaining Employees

This research document explores the talent strategies used by the best companies to attract and retain skilled employees. It includes a case study on Marks & Spencer and provides insights, recommendations, and analysis of challenges faced by the company in managing and retaining people.

Managing a successful
business project

Contents
RESEARCH TOPIC........................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Devise project aims and objectives.......................................................................................1
P2. A project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources..............................................................................................2
P3. Produce a work breakdown structure and Gantt Chart to provide time frames....................4
TASK 2............................................................................................................................................5
P4. Carry out small scale research by applying research methods..............................................5
TASK 3............................................................................................................................................8
P5. Analyse research and data using effective tools and techniques...........................................8
P6. Communicate effective recommendations as on results of research.....................................9
TASK 4..........................................................................................................................................10
P7. Reflect on the value of undertaking the research................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

RESEARCH TOPIC
What talent strategies do the best companies use to attract and retain people?
INTRODUCTION
Talent management basically is a process and an activity of utilising tactical individual
source arrangement to develop business principles and to make, it potential for organisation to
find out their objectives. It is complete possibility of HR activity to get attention, engaged,
develop and manage high performing employees. The key purpose of endowment management is
to develop production execution through activities that form employee more innovative
(Polonsky and Waller, 2018). This research document is based in Marks & Spencer which is a
major British multinational retail sector organisation and specialise in selling clothes, home
products and food items etc. This project report will consider information about research aims,
objective and project management plan. Further, it will define about research methodologies,
analysis of research data, recommendations and reflection on the value of undertaking the
research.
TASK 1
P1. Devise project aims and objectives
Background of the topic and organisation- This research report will include data about talent
management and retention which is a process of administrating and retaining talented employees
of the firm and make an effective involvement in the success and growth of the establishment.
Moreover, research project will consider information about research tools, methods of data
collection that is utilised to gathering adequate and relevant data for meeting the research
objective in improved form.
Marks & Spencer is a British international firm which was established in 1884 and is
headquartered in London, England, UK. The venture operates its business globally with the help
of its approx 959 stores and products like garments, food items and home products etc. This firm
offer products of different brand like Per Una, Autograph, Limited, Rosie, Blue Harbour, M&S
collection and M&S energy etc (Bell and Harrison, 2018). There are estimated 80,000 employees
who make their contribution in operating the business of this establishment in amended form.
Research aim- “To identify the strategies which used by organisation to get attention and retain
skilled employees. A case study on Marks & Spencer.”
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Research objectives
 To understand the concept of talent management and retention.
 To determine the strategies which is used by management to manage and retain people of
the company.
 To analyse the challenges that are faced by M&S in term of managing and retaining
people within the establishment.
 To examine the importance of retaining and managing top talent within enterprise.
Research questions
 What is the conception of Talent retention?
 What are the plans of actions used in managing and retaining skilled employees?
 What are the challenges that faced by M&S to retain and manage people of organisation?
 What is the importance of retaining top talent within establishment?
Scope and limitations of the research- The scope of this research study is wide as it offers
information about the talent retention and management within a business establishment. It
provides deep information about the strategies and methods which can be used by management
in term of retaining and administrating competence and skilled workforce (Taherdoost and
Keshavarzsaleh, 2018). Along with this, it will also assist in future research project which are
related to talent retention and management. The limitations of the research can be issue in sample
and selection lack of previous research studies, limited access to information, time and cost
related constraints etc.
P2. A project management plan that covers aspects of cost, scope, time, quality, communication,
risk and resources
Project management plan
It refers to a plan that is a document which is utilise by the management of the organisation
to explain each and every phase o a project with the assistance o diverse factors of project
management plan. This plan include diverse component like resource, cost, scope, quality,
communication and risk analysis etc. which help a personnel to accomplish the particular report
in an efficient and adequate manner within a granted timeframe (Keers and van Fenema, 2018).
In context of this research project, investigator can take an initiative in determining several
factors that is needed for acquiring better outcome and they are explained as below:
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Cost- This phase is viewed as one of the important factor for organising a particular study
because it help in getting effective equipment in an adequate manner. Along with this, cost refers
to those factors which acquire at the time of process of manoeuvre of the specific project in
efficient form (Martinsuo and Hoverfält, 2018). In case of this research, surveyor makes and
attempt to determine the market that helps them to analyse the whole expenses in appropriate
form. So all over cost that is needed to complete this document is £500.
Scope- This aspect is connects with those concepts within raise the entire execution of
particular research report in an improved form. However, as the market competition and
development opportunities are increasing at quick pace, it develops the scope of research in
collecting efficient data or ideas and tools for completing the work in developed way. This
research has wide scope which motivate researcher to use of diverse development option and
opportunities in a productive manner without any issue and problem.
Time- It is connecting with that factor that refers to time limit to accomplishing the
particular task in an effective form. Along with this, with the help of this tool, investigator is able
to enforce optimistic outcomes over chosen individual who develop its quality and performance.
In context of this research, the people determine the existing business atmosphere and task that
enable them to determine regarding manoeuvre time of this report. So, the investigator can
determine that this survey takes 2 months of time duration to develop and completion.
Quality- This factor include as most essential phase as it instantly connect with project
property and efficiency among the several industries and population. Therefore, the investigator
can make an effort o determine the present market which directs them to gather all reliable data
in reference to research topic that help in enabling other researcher to organise their survey in an
appropriate and adequate form.
Communication- It is another effective aspect of project management plan which is linked
with the execution of every individual and also to make control over several issues such as
confusion, misunderstanding, unequivocalness and many more. Further, in reference to this
research, the surveyor makes use of current assets or communication techniques that empower
them to obtain appropriate and accurate data (Fernando and et. al., 2018). With the assistance of
it, the people as capable to create high level of support, teamwork, organization among
teammates which offer diverse benefits to them, in form of maximising the quality of the
research report which outputs in processing affectionate survey among scholars and publishers.
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Risk- It is connected with those aspects which are utilised by the researcher to attain the
research document in an amended manner. In reference to this project, the researcher suffers
several issues in framing project management plan so that effective relation can be built in
adequate from within the group (Kassen, 2018). Thus, researcher taken an inaugural in
consigning the work according the probability of each and every individual that aid them to get
over the complexities of hazards, misunderstanding and confusions etc. in an appropriate form.
Resource- It refers to those factors that are utilised by the surveyor for accomplish the
research project in developed manner. There are diverse kind of resources like equipments, land,
labour, machinery, cost, manager and others, In this research document, the investigator needed
time fund, human resource and equipments like laptop, mobile phones etc. to organise the
investigation in effective form.
P3. Produce a work breakdown structure and Gantt Chart to provide time frames
It is most crucial for researcher to find out and determine the time period which is needed to
execute or completed diverse research actions in appropriate form. Time duration will assist in
offering effective period of time which is important doe adequate accomplishment of business
task. This will aid in effective determination devising as well as incorporating guideline to
organise task and actions of investigation document. It is important for surveyor to improve and
produce effective phases and time period. It will direct to smooth functioning of research actions.
There are several tools like work breakdown structures and Gantt chart which will support
researcher to take effective decision for organise research actions in developed form.
Work break down structure- It is a method and tool which can be used by investigator to
organise research in effective form. Work Breakdown structure can be describe as the main
deliverable of the project which is beneficial in conducting and administrating several task of
project in developed and adequate form. This is an essential method which support in
simplifying critical task into small segments. So that surveyor can administrate diverse task of
project in effective form (D’andria, Gabarret and Vedel, 2018). Work breakdown structure can
be represented in the term of hierarchical tree that will direct to categories diverse actions of
research project in small sections in reference to accomplish investigator project in amended
form.
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Gantt chart- It can be define as an adequate tool which will assist in organising diverse task
and actions within in needed time duration. This method was formed by an American engineer
Henry Gantt with the motive of assisting surveyor to administrate all actions or task of project in
developed form (Kozak-Holland and Procter, 2019). Gantt chart is represented in the form of
horizontal bar chart which considers each and every actions of research with its time. It is
developed with diverse aspects like list of task, timeline, dateline, bars, milestones, allotted
resource, progress etc, It is included as most famous form that display the task and actions
towards with the needed time.
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TASK 2
P4. Carry out small scale research by applying research methods
Research methodology
It signifies particular techniques to find out, choose and determine data about research
topic. It is as structure that organise research, survey, experiment and observation. It is an
activity of gathering information for making business decisions (von Danwitz, 2018). It also
assists to determine and examine about market that is applied for solving upcoming time issues
of organisation. It is explaining the business complexities, formulation of hypothesis, and
determination of information ad survey market. To implemented conception there must be study
area, source of information, sample size and techniques. It assists to remove issues and identify a
solution hypothetically and make conclusion. There are two key forms of research
methodologies and they are as under:
Qualitative method- It is a method which ravels meaning of typical investigation of
survey evaluated on form of quality to know what results or output is evaluated. It is primary
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descriptive research (Englund and Graham, 2019). It is a scientific method of gathering
information that is observation of collecting information in non statistical information of
highlighting rationales, suggestions and motivation. It utilised random sampling of information
that is not effective or fixed for investigate. It is utilised to test concepts and postulations to relate
facts. It considers team discussion, interview, case study and focus groups.
It is highly effective method to suggest potential components, causes, effectiveness and
dynamic activity as well as its surveys is understandable in easier form due to descriptive
research method. It considers lots of time and cost due to gathering large data, determining and
interpreting them become very lengthy.
Quantitative method- Within this method, the information is collected in form of ranks,
units to construct graphs, rows and column in tables. This research completed in systematic firm
with the tool of mathematical, numerical, graphs, bars and tables. The gathering of data is in
numerical forms that are pools, questionnaire, survey, online survey, telephone, feedback,
interview, mail and many more. Such research utilised instrument needed in statically form that
is symbolized to the subject of research. It concentrate n gathering of information and data in
term of numerical value with the assistance of teammates who are connected with specific
actions.
It gather relevant and accurate information that is gather in easier form by surveyor and
beneficial for testing and construct concepts with large scope of information gathering (Islam,
2019). As poor and less information of application of numerical analysis may influence
unfavourably to measure or investigate information due to large sample size is needed to
effective information.
Form the explained research methodologies, it can be monitored that for the
accomplishment of this research project in effective manner, the surveyor can utilise qualitative
method. Investigator chooses this tool as it help in gathering pure and first hand information
towards specific topic. With the assistance of this survey method, Researcher can get brief and
deep data that can be effective to attain research aims and objectives.
Data collection tools
It indicates to those techniques and tools that are utilised through the researcher to collect
data. There are two forms and source of gathering information, they are defined as below:
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Primary source- With the assistance of this data collection tool, researcher can collect
pure and first hand information through making direct communication and conversation
(Fiergbor, 2020). There are diverse method such as group discussion, interview, questionnaire
and survey etc. by which researcher can gather reliable and effective data.
Secondary source- It impels second hand information that is already accessible on
diverse sites and collected as well as utilised through other people. There are numerous
techniques such as government sites, journals, books, articles, internal records of enterprises,
reports and websites, magazines and many more by which data can be gathered by surveyor.
From the define source of data collection, it can be measured that in current research
document, the researcher execute primary source of data collection as it is effective to gather
adequate information and reliable information from chosen size of sample. In existing research
document, the research can use questionnaire as a tool of primary source of information
gathering.
Sampling- It is a tool and method that is utilised through a business firm to choose and
assort a small size sample for a wide unit of individual and population. It assists the surveyor to
gather effective and relevant information to accomplish research report. In this research
document, the surveyor chooses size of 30 individual from employees of Marks & Spencer and
consider simple random sampling.
Questionnaire- It indicates to a written report that include series of questions or a range of
questions to collect pure data from its targeted and selected amount of individual (Pearlson,
Saunders and Galletta, 2019). It is an important tool as by executing this technique, the surveyor
can instantly communicate and interact with individual and gather relevant adequate information
as per need.
Questionnaire
Q1. Do you aware with the conception of Talent management?
(a) Yes
(b) No
Q2. What are the strategies that used by Marks & Spencer for talent management and
retention?
(a) Peron organisation fit
(b) Reward and compensation
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Q3. What are the challenges that faced by Marks & Spencer during talent management
and retention?
(a) Enlarge employer turnover
(b) Lack of leadership
Q4. What is the importance of Talent management for Marks & Spencer?
(a) Development of company
(b) Retaining high performance workforce
Q5. What is the key role played by Marks & Spencer for improving workforce
development at workplace?
(a) Training and development
(b) Supporting problem solution
Q6. What is the involvement of managers of Marks & Spencer in retaining top talent at
workplace?
(a) Empower accountable workers
(b) Provide opportunities to grow
Q7. Provide the suggestions to deal with the challenges of Talent management.
TASK 3
P5. Analyse research and data using effective tools and techniques
Theme 1:
Q1. Do you aware with the conception of Talent management? Frequency
(a) Yes 16
(b) No 14
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Interpretation- It has been concluded from the define graph that between the component of30
people 16 are replied that they are aware with the concept of talent management while remaining
14 are responded that they are not familiar with this conception.
Theme 2:
Q2. What are the strategies that used by Marks & Spencer for
talent management and retention?
Frequency
(a) Peron organisation fit 13
(b) Reward and compensation 17
Interpretation- Form the above mentioned statistical information, it can be analysed that
between the population of 30 respondents 13 employees are supported with person organisation
fit as good strategy to retain and manage employees. While remaining 17 are agreed with
remuneration and compensation is effective strategy for talent management.
Theme 3:
Q3. What are the challenges that faced by Marks & Spencer
during talent management and retention?
Frequency
(a) Enlarge employer turnover 18
(a) Lack of leadership 12
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Interpretation- It has been summarised that from explained visual communication that among
the component of 30 responders that 18 people are viewed to high worker turnover is the key
challenge which us faced by Marks & Spencer. Whereas enduring 12 employees are responded
to lack of leadership is the main issue that is faced by respective firm.
Theme 4:
Q4. What is the importance of Talent management for Marks &
Spencer?
Frequency
(a) Development of company 11
(a) Retaining high performance workforce 19
Interpretation- From the mentioned information, it can be concluded that between the number
of 30 representatives, 11 people are responded that development of company is the key
importance of talent management. While remaining 19 are supported to retaining high
performance employees is the main significance of management of talent.
Theme 5:
Q5. What is the key role played by Marks & Spencer for
improving workforce development at workplace?
Frequency
(a) Training and development 14
(b) Supporting problem solution 16
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Interpretation- It has been concluded form the graph that among the population of 30
employees, 14 people are sustained with training and development is the effective option which
play an effective role in development of retaining of workers. While enduring 16 are agreed with
supporting problem solution play a crucial role in developing manpower.
Theme 6:
Q6. What is the involvement of managers of Marks & Spencer in
retaining top talent at workplace?
Frequency
(a) Empower accountable workers 17
(b) Provide opportunities to grow 13
Interpretation- It has been monitored from defined graphical representation that between the
unit of 30 individual, 13 responders are replied that by providing growth option, M&S can make
involvement in retaining talented workers. While enduring 17 are responded towards encourage
responsible employees, managers make adequate contribution in managing and retaining skilled
workforce.
P6. Communicate effective recommendations as on results of research
From the above described information, it has been summarised that due to management and
retention of skilled workforce, there are several challenges faced by the management of company
like increase employee turnover and lack of leadership. In term of overcome these problems and
issues, there are some recommendations which can be considered by the management of M&S:
 By conducting training and development sessions with the company after a particular
time period, the organisation can retain talented and knowledgeable employees. Along
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with this, they can treat all workers in equal form in term of offering training and growth
opportunities so that they can make development with any kind of favouritism.
 Apart from this, by rewarding and remunerating workforce on the basis of their
performance. This will assist in retaining top talent within the establishment as when
people are rewarded for their good performance then feel motivated and work with their
all effectiveness.
TASK 4
P7. Reflect on the value of undertaking the research
At the time of performing and executing my accountabilities and tasks in research project, I
use by skills and capabilities as well as knowledge so that I can compete my work on time or in
adequate form. In this my management abilities support me as with the assistance of this skill, I
classified my task and work on the priority bas and complete them in effective time period. With
the help of my good communication ability, I interact with diverse people that belong from
several religions and culture and utilise diverse language in their conversation. The execution of
Gantt Chart and WBS tools also assist in attaining the project aims and objectives in set time
frame in firm of maintaining the quality of the task. With the assistance of this research project, I
make development in my personal and professional abilities, Along with this, I also develop emu
management competency as WBS model enable in administrating my task by categorising and
segmenting it in small sections. There are several techniques such as research methodologies and
data collection tools etc. are utilised by me to gather relevant and accurate data to accomplish the
research project in effective and efficient form.
CONCLUSION
From the above mentioned information, it can be concluded that talent management is an
effective process of retaining and managing skilled people of the company by using different
strategies like remuneration and compensation, training and development, growth options and
many more. With the use of Gantt chart, WBS and project management plan, the researcher can
attain its needed task and objectives in adequate form. With the help of effective research
methods and data collection tools, surveyor can accomplish and meet research objective in set
time period.
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Marks and Spencer Group PLC. 2020. [Online]. Available Through:
<https://www.referenceforbusiness.com/history2/68/Marks-and-Spencer-p-l-c.html>.
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