Talent Management: Strategies for Retaining High Quality Employees

Talent Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Aims and objectives of the project with a chosen scenario....................................................3
Project Management Plan.......................................................................................................4
Work breakdown structure and Gantt Chart...........................................................................6
TASK 2............................................................................................................................................9
Small scale research with the use of quantitative and qualitative data...................................9
TASK 3..........................................................................................................................................11
Research and data with using of techniques and tools.........................................................11
Recommendations................................................................................................................16
TASK 4..........................................................................................................................................17
Performance Review............................................................................................................17
CONCLUSION .............................................................................................................................18
REFRENCES.................................................................................................................................19
Books and Journal................................................................................................................19

INTRODUCTION
Talent management is the activity that helps to retain the high quality employees in the
organisation for their success and growth (Adapa and et. al. 2020). It is the most important
activity that performed by the HR of organisation. Employees are the main element of success of
the business because they are the person who give their efforts for achieving the organisational
objectives and goals. It is very necessary for the HR of organisation that they make sure that high
talented employees are retain in the organisation (Tian and et. al. 2020). This report covers the
project of managing business successful with effective use of strategies. In this context TESCO
is undertaken for the project to analyse the project management plan. TESCO is the UK based
from that has a very large stores in many countries, dealing in retail business such as clothing,
financial services, food items, etc. This report also covers the small scale research with using
tools and techniques that helps to determine the best results through achieving organisational
objectives and goals. This report is mainly concerned with the identification of best strategies in
order to improve employees performance and reduction of employees' turnover ratio.
MAIN BODY
TASK 1
Aims and objectives of the project with a chosen scenario..
Overview of the Research: The background of this research is based on Talent
management that basically give the simple meaning that person who works in organisation
should be retain for long term period. This research takes the importance of talent management
and their aims & objectives (Ashraf and et. al. 2020). In this context, TESCO is undertaken for
deep research that they are enable or not to deal with retaining of high quality employees in the
organisation. TESCO is the multinational company that has many functions to perform in their
organisation, all functions are performed by the employees. That means employees are the base
of their success and failure, so it is very important for TESCO that they should manage their
employees and retain for long term (Viitanen. 2020). To better understand, this report conducts
the robust research which helps to understand in practically. This research covers the strategies
that used by the company to retain their talented employees in their organisation.
Aim: “To retain the talented employees in the organisation so that they gain the
maximum productivity and profitability.” A case study on TESCO.

Objectives: Objectives are mentioned below:
 To make sure that organisation know the importance of talent management for retaining
high quality employees.
 To analyse the strategies that are used by the organisation to retrain their talented
employees in the organisation.
 To enhance the employees' productivity with the application of techniques and tools.
Research Questions:
 What is the meaning of talent organisation that can understand by the organisation.
 What is the importance of talent management in the organisation to retain their high
productivity employees.
 What are important principles that can be used by the organisation for managing talent.
 What are the important strategies that are used by organisation for maintain the talented
management in organisation.
Project Management Plan.
Project is the detail study of particular topic with the research that use primary and
secondary research (Baghai and et. al. 2020). It is the most important for the organisation that
they plan their project objectives per determined so that it will not create any ambiguity. Project
management plan is the activity that include planning of pre determined goals and objectives so
that employees can work according to them. The important things that requires in the project
management plan are planning, organize, implement and control. All of them are very important
for successful management of business project. There are some main components that are
essential in project management plan are mentioned below:
Time: Time is the most important component that should be consider in the project plan.
Because it gives the deadline to the employees that they have to finish their work at given time .
Every project has some definite time for example, primary research needs 1 month for doing a
survey that how many persons are purchase the TESCO's products. This project needs minimum
3 months to reach to the conclusion. Within this time all necessary and important research should
be complete so they reach at conclusion and results.
Cost: The cost covers the budget that allocated for completing the particular project
(Dang and et. al. 2020). It is very obvious that every project incurs some cost or expenditure
while doing any type or research such as primary or secondary. Primary research needs more

money as compared to secondary research. The budget that set by TESCO for this project is
£800 that allocated for doing the necessary expenditures. Cost is very necessary for evaluating
the profits that is very necessary.
Quality: Other important component that is very necessary for research that is quality.
The researcher make sure that they collected and inserted data should be relevant and accurate
that makes the quality of researches. Quality is very necessary for achieving the aims &
objectives of research projects. In this context, TESCO decides that they are setting
benchmarking so that they can easily comp-are their results (dos Santos and Pedro 2020).
Quality of project management plan is very necessary to consider because it influences other
components of project management that are scheduling, costs and other factors. So if the
organisation doesn't use good quality then it directly affects on ascertaining cost that can be
wrongly evaluated.
Scope: It is the area where TESCO shows the application of this research at various
areas. In simple words, scope refers to the applicability of selected topic at what extent of areas.
It includes objectives, plans, procedures and plans that are undertaken in this project. TESCO
makes sure that where this research is applied and at what extent. For example, this research is
applied for all type of organisation and at all level because talent management is need for all
types organisation whether it is small or large.
Communication: It is very necessary that management has proper and effective
communication between employees and their top level authorities. Because effective
communication clears ambiguity and make sure that all work done in a effective way. TESCO's
management team are always focus on communication so that they transferring right information
and message to employees (Kwan and et. al. 2020). Communication becomes the big barrier in
terms of achieving the desired goals and objectives. For example, TESCO set a objective of
increasing 15% sales by this year. It should be communicate with their subordinates so that they
can achieve objectives.

Risk: Every organisation needs to understand that they are doing business at risk because
where they work in environment is dynamic. So it is very important for the organisation that they
should know about the risk in project that they handle. It is very obvious that every project has
certain risk that can be face by the organisation (Lazarus and et. al. 2020). TESCO is the
multinational organisation that face many types of risk in their organisation, it can be internal or
external. Risk can be various types that may be:
 Cost risk- It can occur due to poor estimation of cost in project management plan.
 Schedule risk- It is the risk in which project can take longer time as compared to
expected.
 Performance risk- In this risk performance may be fluctuate as it not same with standard
one.
Resources: Resources are the things that should be undertaken for completion of project
successfully. Resources are the base that helps the organisation to complete their projects.
TESCO's resources includes human resource, financial resources, raw material, etc. In mentioned
resources one of the most important resource is human resource that can be proper manage so
that they can retain their talented employees in the organisation (ROJAS and et. al. 2020).
Work breakdown structure and Gantt Chart.
Work breakdown Structure: