Effects of Talent Management on Small Entrepreneurs and Businesses

Unit 11– Research
Project
Contents

Executive summary.........................................................................................................................3
TOPIC: To study effects of Talent management and development on success of Small
Entrepreneurs and Businesses. A study on Davison Canners..........................................................5
Introduction......................................................................................................................................5
Research Title, objectives and responsibilities................................................................................5
Reason for choosing this research project.......................................................................................6
Literature review..............................................................................................................................7
Concept of talent management....................................................................................................7
To analyse strategies which can help Small entrepreneurs for talent management.....................8
To understand impact of talent management on development of business.................................9
Research approaches and methodologies......................................................................................10
DATA ANALYSIS AND INTERPRETATION...........................................................................13
RESEARCH OUTCOMES...........................................................................................................22
CONCLUSION RECOMMENDATION......................................................................................23
REFLECTION...............................................................................................................................23
REFERENCES..............................................................................................................................25
Appendix........................................................................................................................................27

Executive summary
In the below research, researcher is conducting this through qualitative and quantitative
methods. In qualitative method, research is doing this from literature review. And quantitative
method is done from questionnaire survey. In this research, there is a data and interpretation and
at last conclusion and recommendations are given. Talent Management is important for the
overall success of any organization and can help it in retaining the employees by developing
their skills as well as enhancing their existing knowledge. There are different strategies that an
organization can adopt in order to gain a competitive advantage as well as enhance its overall
performance. Effective talent management strategies can involves the providing rewards and
recognition to the employees, training and development as well as offering flexible working
hours to the employees. Also, there are many different benefits of effective talent management
such as it increases the morale of the employees and provides them a sense of belonging towards
the company. Davison Canners is a well-known for its high quality products across the world.
The company is focused on providing training to its employees as well as developing them so
that they are committed to their respective jobs and satisfied with the same.

TOPIC: To study effects of Talent management and development on success
of Small Entrepreneurs and Businesses. A study on Davison Canners.
Introduction
Talent management’s strategies and practices are the main term of the section of the
implementation of integrated human resources strategies to attract, develop and retain and
productivity of employee to meet organisational objectives and goals. Now a days banking sector
is becoming more competitive and customer oriented in the market. Whether it can be private or
public bank. For banking industry, management of talented personal is the most important things
which is to be performed and mange by managers of a company. Talent Management within an
organization can be defined as a constant process that involves attracting as well as retaining,
high-quality and experienced employees, developing their skills as well as motivating them
continuously to improve their performance. The main purpose of talent management is to create
a workforce that is motivated and will continue to contribute to the performance of the company
in an effective manner. Talent management is an important component within the workplace
because it can help an organization to grow and make the employees feel engaged as well as
committed to their respective jobs. Also by this there are certain talent management strategies
and practises are applied on the banking organisation. In this report the bank which is taken is
Davison Canners. It was founded in the year 1989. It is the manner of the product development
company. In this research it will consist the manner of the research title, objective, aim and
questions. There is also use of literature review and primary source through questionnaire. There
is an interpretation and findings and last it contains reflection and conclusion. The report that
will explains the concept of talent management as well as different talent management strategies
that are used by a company in order to be successful.
Research Title, objectives and responsibilities
Research Topic: To study effects of Talent management and development on success of Small
Entrepreneurs and Businesses. A study on Davison Canners.
Aim: Effective Talent Management strategies for successful organizations”. A case study
on Davison Canners.
Objective of the study:
 To understand concept of talent management

 To analyse strategies which can help Small entrepreneurs for talent management
 To understand impact of talent management on development of business
Research questions:
 What is the concept of talent management
 What are the strategies which can help small entrepreneurs for talent management
 What is the impact of talent management on development of business.
Reason for choosing this research project
Every organisation depends on effectiveness and efficiency of its employees. Employees are
considered as asset for organisation which help organisation in achieving its goal and objectives.
Human resource department plays crucial role in hiring and retaining skilled employee for an
organisation and human resource department plays vital role in retaining skilled employees with
organisation. Human resource management covers concept of talent management which is
explained as managing talented employees in an organisation effectively by completing their
needs and preferences. Human resource department roles and responsibilities includes hiring of
skilled employees, providing appropriate training to employees in order to develop their skill and
knowledge. Talent management is a part of Human resource department which includes retention
of employees, providing them training to develop their skills and knowledge etc. Market trends
are changing with time and in order to be competitive in market employees of
organisation play vital role and employee plays crucial role in gaining competitor advantage over
competitors. Research will help in understanding the concept of talent management and how
Davison Canners can utilise their resources in retaining talented employees with organisation.
Talent management in Davison Canners involves various practices and research will help in
understanding practices used by human resource department of an organisation and its
importance in small entrepreneur’s development and growth in their business. Small
entrepreneurs focuses on development of business by implementing necessary changes in an
organisation and entrepreneurs make sure that every organisation functioning depends on its
employees as effective employees help in maximizing productivity and profitability of
organisation. Research help small entrepreneurs in understanding needs of employees and how
talented employees are attracted towards organisation. For carrying out the research, researcher
have identified two main reason in terms of personal and professional context. In personal
context, this topic help researcher in understanding concept of Talent management and how

human resource management help in attracting talented employees. It help researcher in
understanding importance of talent management in development and growth of businesses. In
professional context, research will help researcher in understanding about topic which can help
researcher in developing its skill by understanding need of skill and knowledge in current
employability scenario. Other benefit of conducting this research is developing several skills
such as analytical skills, reasoning skills etc. These skill will help researcher in its own personal
development for researcher career growth.
Literature review
Concept of talent management
On the basis of Susan M. Heathfield (2019) Talent Management is an essential component
for the management to contribute to the total development of the employees through different
methods. The management that should make effective talent management as their priority. The
concept of talent management to get involves in developing the employees, motivating and
retaining the goals. By effective talent management, the employees get a chance to develop their
skills, enhance their present term of the skill and as well as it will enhance their total
performance. As in the context to the company that are more engaged and motivated towards
their work schedule. The main objective of talent management is to help the organization in
getting the best employees, developing employees at all levels as well as retaining the ones who
are high performing. There are different components of talent management such as talent
acquisition and retention, strategic employee planning, compensation, career development,
performance management, learning and motivating as well as succession planning. All of these
key components work towards effectively managing talent within the workplace. There are
different benefits of conducting talent management in the workplace such as a talent
management system can be implemented. An effective talent management system can integrate
as well as align the core HR processes and ensure that they are conducted smoothly. Not only
this, the employees’ experience at the workplace also improves and thus, they are more engaged
towards their work (Alias, and et.al., 2019). The overall employee retention is also increased
because there is an increase in the overall job satisfaction among employees. Therefore, it can be
said that talent management is an important component within an organization and effective
talent management helps it in making the company more competitive as well as progressive. It

establishes a match between the jobs as well as skills that are needed to do the job. As far as
employees are concerned, talent management promotes long-term association with the
organization, keeps them motivated which further helps in career development and also, promote
high productivity. Apart from this, the manager as well as employees are engaged with each
other and there is effective statement within the workplace. Therefore, organizations that will
practice effective talent management at their workplace by implementing appropriate strategies.
This is because it is not only beneficial for the employees but also for the company. Effective
talent management can allow a company to achieve its goals as well as objectives in an effective
manner.
To analyse strategies which can help Small entrepreneurs for talent management
According to Hugh Scullion (2021) One of the basic set of the goals for the company that
is to become successful and profitable in the market. As there are various sort of the talent
management plan of actions that can be used by a management in respect to become successful
at a potential market. The talent management plan of action will help the business in making
informed decisions as well as retaining the talent for a long duration of time. Some of the talent
management strategies can include clearly planned the roles as this will only attract eligible as
well as relevant candidates. Also, the company will be able to save a lot of time on the
recruitment process and ensure that the company has the best options to select from. Another
strategy that can be executed by the respective organization, Davison Canners in order to become
successful at the potential marketplace is to provide regular training as well as developmental
opportunities to the employees. This will help the employees to acquire new skills and also work
productively. As a result, there will be an improvement in the output and so the management will
also be able to perform in an effective and productive manner. The respective company, Davison
Canners is widely known and operates across different geographic regions. The company will
consider the employees to be one of the most valuable properties.
As contrary to this, Christina Pavlou (2021) stated that it is focused on practicing
effective talent management at the workplace in order to gain a competitive advantage as well as
enhance its overall productivity. The company should review the performance of the employees
regularly and also, focus on treating each employee in a fair and consistent manner. It can be
useful in developing their overall morale as well as improving their productivity level. Apart
from this, regular concert reviews should be conducted and they should be provided with