Importance of Talent Management in Increasing Business Performance

This research proposal focuses on the importance of talent management in increasing the performance of an organization. It explores the concept of talent management, its impact on business operations, challenges faced by organizations, and measures to address talent management issues. The study is based on Verdant Leisure, a holiday park company operating in Scotland and the north of England. The research aims to examine the importance of talent management and its impact on increasing business performance.

Research Proposal

Table of Contents
Title of the Proposal.........................................................................................................................1
Introduction......................................................................................................................................1
Literature Review.............................................................................................................................3
Research Methodology....................................................................................................................5
Limitation.........................................................................................................................................7
Conclusion.......................................................................................................................................7
Time Plan.........................................................................................................................................8
References......................................................................................................................................10

Title of the Proposal
Introduction
Background of the Research
The present analysis initiates a study about the importance of talent management and its
impact over increasing performance of the business. Therefore, talent management is defined as
a constant procedure which involves attracting and retaining high quality employees, developing
their skills and continuously encouraging employees to improve their performance level and
attain effective personal as well as professional objectives. In the context to the modern business
environment competition within market is continuously increasing and the businesses are widely
concern over increasing the operations of the business in the manner to retaining and sustaining
talent at workplace (Boella and Goss-Turner, 2019). Hence, talent management is works are the
effective strategy which is widely implemented by the businesses in the manner to enhancing the
operations of the business and attaining higher advancement within the commercial centre. In
this present analysis study is being conducted over Verdant Leisure, thus it is a holiday park
company which is operating in Scotland and the north of England. The company has started its
operations from the year of 2010, thus the company has maintained an impressively low
customer services complaint ration of 0.8% and invested over £6 million in its portfolio over the
past few years. Verdant Leisure is a bespoke holiday park operator which offering self-catering
holidays and holiday home ownership across Scotland, Northumberland and Durham. The
company has established and run by the collaborative efforts of Graham Hodgson, Andrew Wall
and Bev Dixon. The estimated annual income of the business is around £31 million for the year
of 2018-19. The company is work with an effective range of employees and the company is
working with the zeal to enhancing the profitability of the business with increasing performance
of the employees at workplace. The company is concern over managing talent at workplace as it
helps the business in sustaining talent at workplace and also strength the workforce to attempt
success operations in effective manner (Kichuk, Brown and Ladkin, 2019).
Rationale of the Research
The project into acknowledgement is based on analysing the importance of talent
management and its impact over increasing performance of an organisation, therefore, it is a
wide area of academic writing and the present study aid in exploring personal recognition in
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relation to the aspect of talent management. An investigation is mainly executed for an
imperative purpose and the present analysis is executed because talent management is the most
considered area of each business as the suitable idea of this aspect is important for the businesses
to overcome with the issues that are arises in managing talent at workplace (Mwai, 2018).
Therefore, talent management is an imperative aspect which helps the business in retaining and
sustaining effective talent at workplace and this may result in increasing performance of the
business. In addition to this, the topic of talent management is also select for the reason of the
personal and academic interest of the researcher, as the investigator wants to explore own ability
to gain progression within the personal as well as professional life.
Research Aim
The key aim of this analysis is to “To examine the importance of talent management and
its impact over increasing performance of an organisation. A study on Verdant Leisure”.
Research Objectives
The potential objectives that are significant for this study are associated as below:
 To understand the concept of talent management in the context to business.
 To articulate the importance of talent management in increasing the performance and
operations of business.
 To determine the challenges that is faces by the business in managing talent at workplace.
 To identify the measures that can be opted by Verdant Leisure to address the issue of
talent management at workplace.
Research Questions
The suitable research questions that are interconnected with the aim and objectives of the
research are associated a under:
 What is the concept of talent management in the context to business?
 What are the importance of talent management in increasing the performance and
operations of business?
 What challenges are faced by the organisation in managing talent at workplace?
 What measures can be opted by Verdant Leisure to address the issue of talent
management at workplace?
Literature Review
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A literature review is defined as a comprehensive evaluation of the past investigation over a
specific topic, thus, this provides a detailed evaluation within the theoretical form to generate
suitable outcome. This section of investigation is based over secondary sources like, books,
journals, articles, magazines, past investigation and so on, which are significantly connected with
the similar subject.
Theme 1) The concept of talent management in the context to business.
According to Heathfield (2019), talent management is an important aspect of human
resource management; therefore, it is a talent management is a business strategy which
businesses hope will enable them to retain their topmost talented and skilled employees. In
simple terms, talent management is also termed as the full scope of HR process which is
imperative to attract, onboard, develop, motivate and retain high performing employees. Talent
management is basically aimed to developing the operations of the business via practice which
makes employees more productive in nature (Buhalis and Leung, 2018). Talent management is
characterized as a cycle through which organization attempts to pull in its representatives to stay
in the organization for a longer time duration. This is essential as this will help the organization
in holding the best ability inside the organization. This is required for the businesses to the
explanation that when successful representatives work in the organization then the presentation
of organization turns out to be more viable and proficient. Notwithstanding this talent
management is likewise important to keep all the records of representatives and attempt to propel
the workers to improve their presentation in business.
Theme 2) The importance of talent management in increasing the performance and
operations of business.
According to Momtazian (2020), talent management is not just a simple HR term as it one
will come around, thus it is also committed to recruit, manage and enhance and retain talent at
workplace for the intention to enhancing the operations of the business. Talent management is a
recognised an imperative business strategy which organizations hope will enable them to retain
their topmost talented and skilled employees. There are assorted significance of talent
management like attract top talent, employee motivation, increasing business performance,
developing productivity, continuous coverage to critical role, effective customers satisfaction,
increase in employee engagement so on, thus these are the main benefits that are attained by the
businesses in managing talent at workplace. Verdant Leisure is a mediums side leading holiday
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part company which is work for increasing the competitive edge for the business as in this sector
competition within market is so high. Hence the management of the business is concern over
enhancing the operations of the business with retention of effective talent at workplace. In the
competitive business era, the businesses are concern over implementing talent management as
the imperative sources and the strategy of the business for the manner to attracting unique talent
at workplace and implement their uniqueness in the growth operations of the business, thus in the
segment of service industry retention of talent is important for the purpose of maintaining long
term operations of the business (Sen and Bhattacharya, 2019).
Theme 3) The challenges that is faces by the business in managing talent at workplace.
According to Echelon (2020), organisations at workplace attract, train and retain top talent at
workplace, thus the human resources department have assorted tasks to fulfil but the recruiting
and retaining employees is arguably the most difficult. There are assorted challenges like higher
total compensation demand, unappealing business culture, and increased employee turnover, lack
of leadership, embarrassing new interest, and offers impressive salary and so on. that are mainly
faces by the business in managing talent at workplace. However, these issues are having a wide
impact over the operations of the business (Okumus And et. al., 2019). In addition to this,
significant issues are the opposition among the workers. This is the significant test due to the
explanation that when the representatives are such a large number of in organization and at same
position then it gets hard for the organization to choose which worker will be advanced and
which not. This will make a test in light of the explanation that on the off chance that one worker
will be advanced and other won't, at that point this will de-motivate different representatives and
they won't work in compelling way.
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Research Methodology
The appropriate selection of research methodologies is efficient for a project to gather
valuable and relevant information that are specific to specified topic. In the context of this
present investigation work based on determining the importance of talent management and its
impact over increasing performance of an organisation suitable methodological selection are
important to assist the project with the help of accumulating valuable data (Bailey and Burhouse,
2019).
Research Method: Research method is mainly views as a plan which will be completed for
directing an investigation in right manner. The selection of suitable methodology is based on the
information accumulated over a specific subject; therefore, the investigation method is mainly
relay over qualitative and quantitative research methods which are utilized by the investigators in
the investigation. Qualitative research is thinking about statistical and mathematical information
and discovering the result in same structure. Simultaneously Quantitative research type all in all
ganders at seeing the non mathematical information and discover arrangement in same structure
(Brown and et. al., 2018). In the context to this present investigation based on the aspect of
examining the impact of talent management over the increasing performance of the business,
quantitative analysis will be considering by the researcher as it is imperative in developing
descriptive evaluation with observing the views of others and in this information is gathered in
actual facts and figures.
Research Philosophy: Research Philosophy is viewed as various sorts of belief and conviction
which is controlled by the researcher in respects of the route through which investigation can be
conveyed. This is the imperative aspect of methodology and relay over positivism and
Interpretivism research philosophy, therefore, the selection of philosophy is relay over the
investigation type (Gill and et. al., 2018). Therefore, positivism philosophy mainly encompasses
over accumulating all inclusive acknowledged information and data, therefore, this in this
information mainly gathered within statistical information. Simultaneously Interpretivism
research philosophy is based over understanding the human interest include in study. For
considering the present investigation work positivism philosophy will be implementing by the
researcher as it is most effective tool for conducting quantitative analysis. Therefore, this tool is
effective as in this genuine information will be gathered that are based on talent management and
its exclusively derived from the experience of natural phenomenon and their properties.
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Research Approach: The selection of research approach is encompasses over two imperative
aspects, i.e. deductive and inductive research approach. Therefore, in the context to this present
investigation work, deductive approach will be implementing by the researcher, thus it is
imperative in nature to conduct quantitative research in appropriate manner. This section of
investigation is imperative in nature to providing descriptive evaluation with the assessment of
naturalistic information as in this theories and hypothesis are developed to conduct investigation
over a specific aspect (Crane, Matten and Spence, 2019).
Data Collection Tools: The selection of data collection tools are the primary obligation of the
researcher, as it is important for the investigator to select the suitable sources to agther
information. This segment of methodology is encompasses over primary and secondary sources
of data collection. However, primary information is the information which has been gathered for
the absolute first time from by the researcher over a specific topic. On the contrary, secondary
information is commonly gathered from the source who has gathered the information for their
utilization previously. In the context to this present investigation work, both primary and
secondary sourced will be considering by the researcher as the collective primary and secondary
data will help in generating valuable outcome (Stoffregen and et. al., 2016). Thus, primary
research will be executing via the suitable support of implementing survey in which
questionnaire will be conduct to gather specific information. Hence, secondary tools like books,
journals, articles and sources are imperative in developing theoretical framework in the form of
literature to support the issue in appropriate manner with the accumulation of detailed
information.
Data Sampling Tools: This is the important recognition of the research to select the most
suitable candidate from the entire population to gather suitable information. Therefore, the
sampling will be categorised among probabilistic and non-probabilistic tools (Horghagen and
Hocking, 2017). In the context to this present investigation work, participants are randomly
picked as it is the suitable source of probabilistic sampling and helps the researcher in making
suitable selection participants. The sample size for this analysis will be 30 in which employees of
Verdant Leisure, is select to gather information about the important of talent management in
increasing the operations of the business.
Data Analysis: Data Analysis is the way toward assessing the information such that it used to
give the significant data. The analysis will help the investigation in evaluating the gathered
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information and providing direction to reaching at the key results (Davidov and et. al., 2018). In
the context to this present investigation work, thematic analysis will be considering in which
themes are developed over the questions of questionnaire and discussion will be conducting via
the opinion analysis of the participants. In addition to this, the representation of the data will be
managed via developing frequency table and graphs, charts, diagrams will be considering to
making effective presentation of the outcome.
Research Ethics: Research ethics are codes and the conducts which are needs to be follow by the
researcher at the time of conducting an investigation, therefore, it is important for the researcher
to take all the consent from the participants before gathering information from their sides (Jones
and Wynn, 2019). Thus receiving consent is required to avoiding any delay or misconduct of
research. In addition to this, researcher also make sure to maintain confidentiality of the private
information of the participants and ensure them to keeping the private information safe and
secure.
Limitation
There are assorted types of limitations that will be seen through the investigator at the first
time of executing an investigation in appropriate manner. the limitations are the issues for the
research which hampers the outcome of the research, thus it is important for the researcher to
resolve the issues effectively (Radwan, 2017). The provided time for the project assessment will
be the major issue which influences the outcome of the research, thus for overcoming the issue it
is important for the researcher to manage time via developing an effective time frame in which
all the activities are mentioned in appropriate manner with the provided time. In addition to this
researcher will also face the issue in authenticity of the sources, as it is important for the
researcher to gather information from the most authentic sources in the manner to gathering
information that are reliable for the study.
Conclusion
From the detailed analysis of the project it has been concluded that, talent management is
recognised a the most imperative aspect of the business and needs suitable consideration in the
manner to managing effective talent at workplace and enhancing the operations of the business.
Talent management is the key role of managers within an organisation and it is important for the
business to keep talent for the longer operations of the business, thus effective talent helps the
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business in performing the operations in effective manner and generating higher advancement for
the business.
Time Plan
Task
Mode Task name Duration Start Finish Predecessors
Auto
Scheduled Research topic selection 3 days Wed 10/21/20 Fri 10/23/20
Auto
Scheduled
Framing aims and
objectives 4 days Mon 10/26/20 Thu 10/29/20 1
Auto
Scheduled Reviewing the literature 10 days Mon 10/26/20 Fri 11/6/20 1
Auto
Scheduled
Defining the methods of
research 7 days Mon 11/9/20 Tue 11/17/20 3,2
Auto
Scheduled Data collection 10 days Wed 11/18/20 Tue 12/1/20 4,2
Auto
Scheduled Framing of questionnaire 2 days Wed 12/2/20 Thu 12/3/20 5
Auto
Scheduled Distributing questionnaire 5 days Fri 12/4/20 Thu 12/10/20 6
Auto
Scheduled
Analyzing the collected
data 12 days Fri 12/11/20 Mon 12/28/20 6,7
Auto
Scheduled
Concluding and
recommending 3 days Tue 12/29/20 Thu 12/31/20 8
Auto
Scheduled Doing formatting 2 days Fri 1/1/21 Mon 1/4/21 9
Auto
Scheduled Submission of project 1 day Tue 1/5/21 Tue 1/5/21 10
Auto
Scheduled Waiting for feedback 4 days Wed 1/6/21 Mon 1/11/21 11
Auto
Scheduled Doing modification 5 days Tue 1/12/21 Mon 1/18/21 12
Auto
Scheduled
Final submission after
modification 1 day Tue 1/19/21 Tue 1/19/21 13
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References
Books and Journals
Boella, M.J. and Goss-Turner, S., 2019. Human resource management in the hospitality industry:
A guide to best practice. Routledge.
Kichuk, A., Brown, L. and Ladkin, A., 2019. Talent pool exclusion: the hotel employee
perspective. International Journal of Contemporary Hospitality Management.
Mwai, L.N., 2018. Influence of Organization Culture on Employee Performance in Family
Owned Business: A Case Study of Betatrad Kenya Limited (Doctoral dissertation,
United States International University-Africa).
Buhalis, D. and Leung, R., 2018. Smart hospitality—Interconnectivity and interoperability
towards an ecosystem. International Journal of Hospitality Management, 71, pp.41-50.
Sen, K. and Bhattacharya, A., 2019. Attracting and managing talent, how are the top three hotel
companies in India doing it?. Worldwide Hospitality and Tourism Themes.
Okumus, F., Altinay, L., Chathoth, P. and Koseoglu, M.A., 2019. Strategic management for
hospitality and tourism. Routledge.
Bailey, S. and Burhouse, A., 2019. From super-hero to super-connector, changing the leadership
culture in the NHS. Future healthcare journal, 6(2), p.106.
Brown, M.J., Symonowicz, C., Medina, L.V., Bratcher, N.A., Buckmaster, C.A., Klein, H. and
Anderson, L.C., 2018. Culture of care: organizational responsibilities. Management of
animal care and use programs in research, education, and testing, pp.11-26.
Gill, C., Gardner, W., Claeys, J. and Vangronsvelt, K., 2018. Using theory on authentic
leadership to build a strong human resource management system. Human Resource
Management Review, 28(3), pp.304-318.
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Stoffregen, J.D., Pawlowski, J.M., Ras, E., Tobias, E., Šćepanović, S., Fitzpatrick, D., Mehigan,
T., Steffens, P., Przygoda, C., Schilling, P. and Friedrich, H., 2016. Barriers to open e-
learning in public administrations: A comparative case study of the European countries
Luxembourg, Germany, Montenegro and Ireland. Technological Forecasting and Social
Change, 111, pp.198-208.
Davidov, E., Schmidt, P., Billiet, J. and Meuleman, B., 2018. Cross-cultural analysis: Methods
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Radwan, H.R.I., 2017. Managing Hotels during Economic Challenges: A Case Study on Hotels
in Sharm El-Sheikh and Hurghada, Egypt. Journal of Tourism and Hospitality
Management, 5(2), pp.84-100.
Jones, P. and Wynn, M.G., 2019. The circular economy, natural capital and resilience in tourism
and hospitality. International Journal of Contemporary Hospitality Management.
Horghagen, S. and Hocking, C., 2017. Shout out who we are!: How might engagement in
cultural activities enhance participation in everyday occupations for people in
vulnerable life situations?. In Participation in Health and Welfare Services(pp. 128-140).
Routledge.
Online
Heathfield, S., 2019. Why Talent Management Is an Important Business Strategy to Develop.
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[Online]. Available through: < https://www.thebalancecareers.com/what-is-talent-management-
really-1919221>
Momtazian, M., 2020. The What is Talent Management and Why is It Important?
[Online]. Available through: < https://expert360.com/resources/articles/talent-management-
important>
Echelon, 2020. How Recruiters Can Help Solve Talent Management Challenges.
[Online]. Available through: <
https://www.topechelon.com/blog/recruiting-software-solutions/talent-management-
challenges-issues-problems/>
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