Importance of Talent Management Strategies for Attracting and Retaining Employees in M&S Company

SUCCESSFUL BUSINESS
PROJECT

Table of Contents
INTRODUCTION......................................................................................................................4
Research Aims and Objectives...............................................................................................4
MAIN BODY.............................................................................................................................4
Project Planning.....................................................................................................................4
Step 2..........................................................................................................................................5
Literature Review...................................................................................................................5
Research Methodology...........................................................................................................6
Gant chart...............................................................................................................................8
Data collection.......................................................................................................................9
Theme: Talent management should be a part of company’s strategic................................10
Theme: Process model is the most effective talent management model..............................11
Theme: employee should be a part of talent management strategy.................................12
Theme: majority of respondents said that through talent management employees are
retained in the organisation..................................................................................................13
Theme: unappealing company culture is the challenge with TM strategy...........................14
Theme: majority of respondents feels that at all the stage of TM company should involve
employees.............................................................................................................................15
Theme: benefits of TM addressing well being for improving employee retention and
motivation............................................................................................................................17
Theme: recommendations for dealing with TM challenges.................................................17
Findings................................................................................................................................18
Recommendations................................................................................................................18
Reflection.............................................................................................................................18
Conclusion................................................................................................................................18
REFERENCES.........................................................................................................................19

INTRODUCTION
Research Aims and Objectives
Aims:
 To analyse the importance of talent management strategies in order to attract and
retain people. A study on Mark and Spenser (M&S) company.
Objectives:
 To understand the concept of talent management (TM) strategies.
 To identify different methods of talent management for M&S company.
 To evaluate the importance of TM strategies for M&S company to attract and retain
talented employees.
 To provide suitable recommendation to company regarding challenges they face while
dealing with talent management strategies.
MAIN BODY
Project Planning
Scope of Project
In this particular project all the work will be performed by the project team covering
the detail aspect of the talent management strategies and how such strategy provide great
success to company. To make this project successful, the qualitative research will be
conducted in order to collect the data from the company’s 30 employees through the mean of
questionnaire. The outcome of doing such research is that the importance and implication of
talent strategies are quite important in the M&S company. The constraint of the project is
that, the study will use only thematic analysis and not SPSS because of unavailability of
resources, limited time and money (Fashina, Abdilahi and Fakunle, 2020). Before starting
this project, the whole project team plan a statement of work in which different activities are
broken down between the team members. The project does will not collect any data and
information by pressurising and forcing any employees of the M&S company. The
information will be collected by taking sign of each employees on the consent form so that
the success criteria of the project is easily measurable. This project will also analyse the
impact of TM strategies over the performance and productivity of the company.
Milestone
The milestone of this project is that it covers the best research method in order to
collect and analyse the view points of the employees regarding the TM strategies. In order to

achieve the objective of the project, the research team make sure that whatever the data they
are collecting are reliable and valid for the outcome and conclusion of the project. As
qualitative research helps the team member in understanding the attitude of each employees
while conducting the survey and also help in crating the human experience (Leep Hunderfund
and et.al., 2017). The project will also cover the data from the company’s past documents for
collection the information from secondary sources. While collecting this, the research team
make sure that all the documents have publicly available. The research considers only
published articles and documents which is one of the milestone activities of the project. The
initiation, planning and execution of the project do not cover much money and along with
that it provides the insights which is specific to an retail industry.
Initiation, Planning and Execution
At the initial stage, the project will decide the theme on which the whole research will
be taken place by the research team member. The different activities will involve in the
project in order to analyse the outcome of the importance of talent strategies for the success
of the M&S company. For this, first the project will establish the aims and objectives based
on the theme of the project. After that the Literature review will be cover in the project for
critical evaluation of the importance and impact of TM strategies in the M&S with the help of
comparison with Tesco. The project will prepare a gang chart specifying the breakdown of
the activities on the timely basis (Yehorchenkova, Teslia and Yehorchenkov, 2020). In the
planning phase, the project will decide the qualitative approach for the collection of data and
information because of limitation of resources in quantitative research. The project will also
plan the research method and decide the type, approach and philosophy of the research
project. 3At the stage of execution, the project will execute the research methodology which
includes the survey of the selected employees of the company in the form of questionnaire.
The project will also include the activity which includes the analysis of data collected earlier.
At last, the project will show the outcome of the research and also conclude and recommend
the best strategy to the company for attracting and retaining talented employees.
Step 2
Literature Review
According to the views of Lin and Peng (2018), with the help of the talent management
strategies Tesco company is able to retain its existing talented employees and also able to
attract the new talented employees from both home and foreign country. Tesco with the right
TM strategy is also able to incorporate a large internet-based retailer all over the world. As