Talent Management Strategies for Attracting and Retaining Employees

Managing successful
business project

Table of Contents
Title of the Research........................................................................................................................1
Introduction......................................................................................................................................1
Step 1: Project Planning...................................................................................................................1
Step 2: Conduct Primary and Secondary Research..........................................................................5
Step 3: Present Findings.................................................................................................................18
Step 4: Reflective Practice.............................................................................................................26
References......................................................................................................................................28
Appendix........................................................................................................................................29
Questionnaire........................................................................................................................29
Logbook.........................................................................................................................................31

Title of the Research
“What talent strategies do the best companies use to attract and retain people?”
Introduction
The study aim to determine the talent management strategies that are implemented by the
businesses to attract and retain employees at workplace, therefore, managing talent is the key
consideration of the business and its management to gain more growth and procession
(Arriscado, P., Quesado, H. and Sousa, B., 2019) . The present study is effective in providing
suitable idea about the strategies like provide unique benefits, compensation programs, rewards,
incentives, offer competitive pay and so on that are implemented by the business to attract and
retain talent at workplace as the growth and development of business is relay over the
performance of talent employees at workplace. In the present study, analysis is being executed
over the case study of Tesco Plc, as it is large British multinational grocery merchandise retain
business. The study is relay over the case of Tesco Plc, because it is a large business and is
concern over implementing effective talent management strategies to attracting and retaining
employees at workplace.
Step 1: Project Planning
In today’s modern and competitive business era, employee retention is a critical challenge as
businesses compete for talent in a tight economy. Thus, the costs of employee turnover are
increasingly high — as much as 2.5 times an employee's salary depending on the role they are
performed within the workplace. In this, analysis study has been executed over Tesco Plc, it is a
large multinational grocer and merchandise retailer (Maqueira, J.M., Bruque, S. and Uhrin, Á.,
2019). The headquarter of the firm is in Welwyn Garden City, England. It is the third widest
retailer in the globe which is measured through gross revenues and the ninth widest within the
world measured through revenues (Van Esch, P. and Black, J.S., 2019)..
Research Aim
To identify the talent management strategies that best companies use to attract and retain
employees at workplace. A study on Tesco Plc.
Research Objectives
 To understand the concept of talent management in the context to business.
1

 To identify the talent management strategies that is implemented by business to attract
and retain employees at workplace.
 To analyse the impact of attracting and retaining talented employees over increasing the
performance of the business.
 To conduct a comparative analysis over Tesco Plc and Sainsbury in relation to
implementing talent management strategies to improvising the business operations.
Research Questions
 What is the concept of talent management in the context to business?
 What are the talent management strategies that are implemented by business to attract
and retain employees at workplace?
 What is the impact of attracting and retaining talented employees over increasing the
performance of the business?
 The execution of a comparative analysis over Tesco Plc and Sainsbury in relation to
implementing talent management strategies to improvising the business operations?
Literature Review
Literature review, is defined as the most imperative aspect of the research as it provides
in-depth theoretical evaluation over a specified area to enhance idea and recognition about a
specified subject (Hogg, P., 2019).
According to the opinion of Momtazian (2021), Talent management is characterizes as an
essential instrument that include techniques identified with updating capability of workers gifts
so they will hold for a more extended timeframe .Talent management is exceptionally critical for
organization as it work on the interaction for objective fulfilment with the goal that profitability
of representatives improves and task are achieved on given timeframe. It helps in saving time in
addressing needs of clients. Other than this it likewise give stage to workers to communicate
their thoughts and issues that helps in creating representative commitment in extensive way.
According to the opinion of Fuscaldo (2020), talent management mainly defined as the
procedure of attracting and retaining top talent at workplace, it mainly involves analysing the
right candidate at workplace, on boarding them into the business and devising a plan to grow.
However, there are assorted strategies like Be transparent and open, Leverage technology,
Provide ongoing education and clear paths to advancement, Hire The Right Person At The Start
2

Reduce Employee Pain that are effectively implemented by the businesses to attract and retain
employees at workplace.
As per the opinion of Keller and Meaney (2017), talent management mainly deals with
developing, attracting and retaining the key business talent at workplace, therefore, talent
management mainly has positive impact over attracting and retaining employees at workplace,
thus managing talent is the key role performed by the human resources of the business as it is
effective in increasing the operational ability of the business. Therefore, Tesco is a large
multinational corporation which is implementing suitable talent management tools and
techniques like Provide unique benefits to employees, Rewards, incentives, Compensation
programs, Offer competitive pay and so on to retaining talent pool at work place for gaining long
term growth and success within market place, whereas, Sainsbury is also a large and leading
supermarket chain which is widely concern over attracting top talent to manage competition
within market, thus the firm is also implementing effective strategies like Gift card and voucher,
Identify and prepare potential job candidates, Providing training and development to employees,
Providing flexible working to employees and so on that are imperative in attracting and retaining
talent at workplace.
Project management Plan
Project management plan is an important area of investigation as it aid value in providing
brief specifications in relation to the aspects that are imperative in the project. In the context to
this present investigation work, based on the aspect of identifying the talent management
strategies that best companies use to attract and retain employees at workplace, project
management plan aid value in execution of entire investigation in right manner.
Scope: The key scope of this investigation is to determine the suitable talent management
strategies that are implementing via the businesses in attracting and retaining employees within
workplace. Therefore, the investigation is executed to enhance idea and recognition in relation to
the aspect of talent management.
Time: This is the another important area of the project management plan as it is important for an
investigator to execute the entire work in right manner, therefore, this aspect helps in providing a
suitable constrains of time in which the project needs to be completes. For the execution of this
existing project the estimated time for completion of the project is 5 months as the study will
takes 5 months to complete.
3

Resources: It is important for the researcher to manage resources to execute the investigation in
right manner, therefore, the important resources for execution of the project are human resources,
stationary, transportation and so on, that are important to be managed for execution of the study
in right manner.
Quality: This is also another important aspect of project management plan as quality is essential
to be maintained for the execution of study in right manner. In this specific study, quality is
managed via implementing qualitative and quantitative study in the project and gathering
primary and secondary information to support the investigation based on the aspect of talent
management in effective manner.
Cost: Cost is the important aspect which needs to be considered in execution of project activities
in appropriate manner as dew activities are cost consuming in nature like data collection, access
of information, transportation and so on. Which needs suitable cost to be completed. The
estimated cost for execution of the project is 250 €, which is appropriate to execution of work in
right manner.
Work Breakdown structure and Gantt Chart
This is most essential area of an investigation as it is effective in providing a suitable direction to
execute the investigation in appropriate manner. The suitable description aboyut the aspect are
associated as under:
Work break down structure: Work breakdown structure is defined as an essential oriented
hierarchical breakdown of the work to be executed through the project team to attain the project
objectives and develop essential deliverable (Shanker, M., 2019). This is imperative in
categorising the large task into small aspects which provide suitable assistance to execute the
work in right manner. In the case of this existing research project based on the aspect of
analysing the suitable talent management strategies which are implementing by the businesses to
attracting and retaining employees at workplace, work break down structure is effective in
providing effective assistance to completion of the project in right manner.
Gantt Chart: A Gantt Chart is measured as a type of bar chart that is recognised as a time frame
in proper manner. This is executed through the researcher in respect to managing the project
activities in effective manner, in this, activities are categorised in vertical axis. In addition to
this, Gantt chart is mainly presented as the graphical representation of a frame which is effective
in preparing a plan, which facilitates the activities of the project in effective manner. This is
4

imperative in providing suitable access to the activities with the specification of time to complete
the task effectively.
Step 2: Conduct Primary and Secondary Research
Type of investigation: This is the primary consideration of the investigator to select the type of
investigation for providing a significant direction to reaching at suitable results. This aspect of
research is mainly encompasses over qualitative and quantitative source of information. In the
case of this present investigation work, based on the aspect of determining the talent
management strategies that best companies use to attract and retain employees at workplace,
both qualitative and quantitative research are implementing as qualitative study is imperative in
enhancing the theoretical understanding via the support of implementing theories, concepts and
models (Tran, H., 2020). On the other side, quantitative study is effective in gathering
information within actual facts and figures as it is imperative in providing evaluation within
statistical and mathematical aspects.
Data collection tools: The execution of investigation is mainly relay over accumulation of
suitable information from the most suitable sources, therefore, the accumulation is mainly
encompasses over two aspects i.e. primary and secondary source of information collection. In the
context of this present investigation work, both primary and secondary sources are implemented
by the researcher, thus primary study is being executed to gather first hand information as the
study is executed via the support of conducting survey with the support of questionnaire. On the
other side, secondary sources like books, journals, articles and so on are imperative in executing
literature review in effective manner.
Data Sampling: Sampling is mainly replicates from the original population as in these suitable
participants are picked to gather information about a specific phenomenon. Sampling is mainly
based over probabilistic and non-probabilistic sampling tools; therefore, in the execution of this
existing investigation, random sampling is being select from the probabilistic tools to accumulate
information by avoiding biasness as this tools is imperative in providing equal opportunity to be
select for providing information (Nafeesa Begum, A. and Brindha, G., 2019). The sample size
for this analysis is 30 as in this, employees of business are select to gather information because
they are very much close to the operations of the business and are liable to provide valid and
reliable information.
Frequency Table
5