Impact of Effective Talent Management Strategies on Performance of Successful Organizations

Research Project

Contents
INTRODUCTION.....................................................................................................................................3
Research Aim..........................................................................................................................................3
Research Objectives................................................................................................................................3
Research Questions.................................................................................................................................3
Rationale for the research........................................................................................................................4
Literature Review......................................................................................................................................4
Impact of effective talent management strategies on performance of successful organizations...............4
Challenges faced by organizations due to lack of effective talent management.......................................5
Importance of different talent management approaches within an organization......................................5
Role of line managers and leaders in talent management at workplace...................................................6
Research Methodology..............................................................................................................................7
Data Analysis and Interpretations...........................................................................................................9
Research Outcomes.................................................................................................................................13
Reflection & Recommendation for alternative research methodology................................................13
CONCLUSION........................................................................................................................................14
Recommendations...................................................................................................................................14
REFERENCES........................................................................................................................................15
Appendix..................................................................................................................................................17

INTRODUCTION
Talent management is an important aspect for an organization because it helps it in
attracting as well a retaining high-performing employees for a longer period of time. It helps the
organization in increasing its overall performance as well as gaining a competitive advantage in
the industry (Aguinis and Burgi-Tian, 2021). Implementation of effective talent management
strategies allow an organization to ensure that the employees are able to work in an effective as
well as productive manner. There are many advantages of talent management such as it helps in
developing a talented as well as skilled workforce that can significantly help the company in
achieving its goals as well as objectives. Organization chosen for this report is Marks and
Spencer, which is a UK based multinational retailer of clothing as well as household products.
The company is primarily known for selling high quality products at affordable rates (Awit and
Marticio, 2020). The report explains the impact of effective talent management strategies on the
performance of a successful organization. Besides this, it also includes an explanation of the
different challenges that are faced by organizations due to lack of effective talent management.
Research Aim
“To analyze the impact of effective talent management strategies on performance of
successful organizations.” A study on Marks and Spencer.
Research Objectives
 To analyse the impact of effective talent management strategies on performance of
successful organizations.
 To determine the challenges faced by organizations due to lack of effective talent
management.
 To analyse the importance of different talent management approaches within an
organization.
 To identify the role of line managers and leaders in talent management at workplace.
Research Questions
 What is the impact of effective talent management strategies on performance of
successful organizations?

 What are the challenges faced by organizations due to lack of effective talent
management?
 What is the importance of different talent management approaches within an
organization?
 What is the role of line managers and leaders in talent management at workplace?
Rationale for the research
The rationale behind choosing this project is that it will help me in enhancing my
knowledge. Another reason for choosing the project is that the area of talent management is of
my personal interest and I am interested in developing my career in this field. Talent
Management is a vast topic and helps organizations in attaining their goals as objectives in an
effective manner. by undertaking this research, the researcher will be able to identify different
strategies that can be implemented at the workplace for a better management of the talent in the
company.
Literature Review
Impact of effective talent management strategies on performance of successful organizations
As already mentioned, talent management is an important aspect for an organization that
can help it in attracting a greater number of qualified as well as experienced professionals
(Ballaro, Mazzi and Holland, 2020). Successful organizations develop as well as implement
effective talent management strategies so that there is an increase in the overall performance as
well as productivity. Talent management ensures that the employees get an opportunity to
enhance their skills as well as knowledge. There are different talent management strategies that
successful organizations can implement such as providing rewards and benefits, providing
effective training, promote a healthy and positive workplace environment. Besides this, the
managers as well as leaders in successful organizations are encouraged to provide mentoring as
well as coaching to the employees so that they are able to work in an effective manner. Talent
management strategies can have a significant impact on the overall performance as well as
efficiency of the firm. Besides this, it can help the employees in developing new skills that they
can implement in their respective jobs. This leads to an increase in the employee engagement as
well as job satisfaction level (Burrell and et.al., 2020). When employees are committed to as well
as satisfied with their respective job, they will put in much more efforts to get the tasks done that