Importance of Performance Assessment Approach to Talent Management

Research Proposal and
Project Report
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Table of Content
RESEARCH TITLE: TALENT MANAGEMENT.........................................................................3
INTRODUCTION...........................................................................................................................3
Background of the organisation..............................................................................................3
Review of problem/issue........................................................................................................3
Aim and Objectives................................................................................................................4
Rationale for selection of topic...............................................................................................4
Research questions.................................................................................................................4
LITERATURE REVIEW................................................................................................................4
Benefits of talent management in context to organization.....................................................5
Different approaches related to talent management...............................................................6
Importance of performance assessment approach to talent management to retain staff
members within Marks & Spencer.........................................................................................7
RESEARCH METHODOLOGIES.................................................................................................8
DATA ANALYSIS........................................................................................................................11
CONCLUSION AND RECOMMENDATION.............................................................................21
REFERENCES..............................................................................................................................22
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RESEARCH TITLE: TALENT MANAGEMENT
INTRODUCTION
Talent management is a process which is associated to attracting, onboarding, developing,
motivating and retaining talented and potential employees in organisation. Talent management
mainly aim towards improving business performance by enhancing skills and capabilities of
employees. There are a number of strategies and practices of talent management through which
company can retain employees for longer period of time (Whysall, Owtram and Brittain, 2019).
Present report is conducted on the importance of performance assessment approach for
organisation through with they can retain staff for longer period of time. For this research include
research objectives, questions, research methodology, data analysis and certain recommended
approaches.
Background of the organisation
Marks and Spencer are a leading British multinational organisation performing their
business operations in retail industrial sector by headquartered in London, England, United
Kingdom. This company is providing its services worldwide and was founded in the year 1884.
This organisation provides wide range of products and services to customers with more than
78000 employees around the world. Being a multinational company, it is essential for
organisation to manage talent than organisational workplace premises. However, it has been
identified that performance assessment approach is playing important role in talent management
that help organisation to retain staff members. It has been identified that organisation is facing
challenges to retain employees within workplace premises.
Review of problem/issue
Present company which is selected to conduct present investigation is Marks and Spencer
which is a leading multinational organisation in detail industrial sector. The issue which
organisation is faces associated to labour turnover. It has been observed that Marks and Spencer
are a leading organisation with a large scale of employees which is facing problems of retaining
employees.
Aim and Objectives
Aim
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“To determine the importance of performance assessment approach to talent management
to retain staff members at workplace”. A study on Marks & Spencer
Research Objectives
 To determine the benefits of talent management in context to organisation.
 To examine the different approaches related to talent management.
 To identify the importance of performance assessment approach to talent management to
retain staff members within Marks & Spence
Rationale for selection of topic
The selection of present research topic is significant and rational as this is mainly
associated with the primary benefits of talent management and importance of performance
assessment approach which is becoming important and vital for all the organisation. In addition
to this present research work is important to have better understanding of the concept of talent
management which is essential for organisation to fulfil in order to accomplish their business
objective. Along with this present research report is also essential to fulfil academic purpose and
educational background of investigator in addition with leading improvement in competencies
and skill.
Research questions
 What are the benefits of talent management in context to organisation?
 What are the different approaches related to talent management?
 What is the importance of performance assessment approach to talent management to
retain staff members within Marks & Spencer?
LITERATURE REVIEW
A review of the literature is an examination of academic papers on a particular topic. It
gives an overview of existing knowledge and allows researcher to find applicable theories,
methodologies, and shortcomings in current research. Basically, it is type of secondary method
that provide theoretical framework to make a justify results at the end of the study. It includes
various aspects like books, journals, articles, newspapers and many more through which
investigator gather reliable data towards the research topic. With the assistance of this,
investigator can draw a valid result and make overall study more reliable.
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Benefits of talent management in context to organization
As per view point of Pandita and Ray, (2018) In a business organization, management of
talent is one of the important process as it focusses on inviting as well as retaining top talent at
working area. By attracting, skilled and talented candidates, company can easily attain their
targets and at the same time also improve their overall performance at market place. Talent
acquisition encompasses all HR operations aimed at attracting, developing, motivating, and
retaining strong individuals. The goal of talent program is to enhance effectiveness. It tries to
encourage, engage, and retain personnel in order to improve their performance (Krishnan and
Scullion, 2017). Every corporation wants to retain the brightest and best employees in order to
increase operational efficiencies and ROI. Similarly, workers experience engaging work
experiences, sound business experience, and opportunity to further their careers. This explains
because career development is so important. In this context, there are some benefits of talent
management which can be understood by following points:
Better recruiting: There is still fierce competition for qualified candidates in certain roles
and businesses. Communication breakdowns with quality prospects, as well as a lack of tools to
move the top applications through procedure, have an influence on company ability to hire the
brightest employees (Gallardo-Gallardo, Thunnissen and Scullion, 2020). Procedures and
equipment that aid in recruitment and selection, purchasing, application monitoring, and
analytics are critical components of an agile recruiting process. Recruiting system allows
businesses to monitor and categorize applicants while also providing the flexibility to know
when they're in the recruitment process. It sharing capabilities to find and track prospects who
apply through various employment channels, as well as receive information upon these
applications in a simple manner.
Improve employee engagement: Identifying and nurturing staff abilities is a vital
component of the talent management process. Allocating insufficient or insufficiently skilled
resources to projects can contribute to employee dissatisfaction, disenchantment, and schedule
overruns. As a result, businesses can use workforce planning systems to assign team mates to
activities based on their skills and preferences. It has a substantial impact on employee
performances (Collings, Mellahi and Cascio, 2019).
Enable succession planning for critical positions: Succession design is a crucial human
resource process which helps in the development of a professional workforce capable of
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replacing leadership and other critical roles when the organization grows, evolves, or evolves.
Succession planning guarantees that efficiency and staff morale are not jeopardized during
business expansion or management turnover. A workforce development and implementation
application allow for total awareness of personnel across regional boundaries. It aids in the
distribution of work among several workers from low-cost areas. As a result, businesses can
prevent a central point of failure if a crucial resource departs without causing a cost excess.
Different approaches related to talent management
According to Taylor, (2018) Talent management is a strategic technique that assists
companies in recruiting, hiring, and retaining the best employees in their sector of work. To be
successful, the aims of Talent Management in the Organization must be carefully thought out
and organized. There are several tried-and-true techniques to employee engagement that can
distinguish a complete human resource from its competition. In this regard, company use
different approaches for managing talent at working area. These are as follows:
 Developing job description: The description that are chosen for each employment
opening that is advertised for the organization, whether internally or externally, are
highly crucial. Making it as clear as possible about what obligations go into the
performance of a job will guarantee that those who apply understand understands what is
needed of them. The company would not have an employee turnover since customers
were confused about what would be included (Crane and Hartwell, 2019).
 Provide development opportunities: Make sure to provide continual opportunity for
people to advance in their careers to existing personnel. This might be as basic as a two-
day training session on something new that will help with day-to-day chores, or it can be
management training programs that will allow entry-level professionals to earn vital
information, experience, and chances.
 Performance assessments: Regular assessments are really an excellent approach for
employees to learn how they are doing and where they may improve. To be efficient,
they should be requirement analysis or twice a year. This assessment is generally
performed by management and provide a concise overview about what an employee did,
how their productivity was, and how they can improve in the future (Meyers and et. al.,
2020).
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