Talent Management's Impact on Employee Retention and Performance M&S

This report investigates the impact of talent management on employee retention and enterprise performance, focusing on a case study of M&S. It begins by defining talent management and its role in discovering, developing, and sustaining talent within organizations. The report outlines a project plan, including time, quality, communication, risk, and resource management, using a Gantt chart for scheduling. The research methodology employs a qualitative approach with a descriptive design, utilizing both primary data collected through questionnaires from 30 SME employees and secondary data from journals and articles. Thematic analysis is used to interpret the data, with ethical considerations addressed. The primary research findings highlight the positive impact of talent management on business performance, employee retention, and the importance of SMEs working directly with staff. The secondary research discusses principles of talent management, such as avoiding mismatch costs and mitigating risks, emphasizing the importance of long-term development and succession planning. The report concludes by summarizing the key findings and their implications for organizational success.

Managing a successful business project
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Contents
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................7
TASK 3..........................................................................................................................................18
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20
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Title - the impact of talent management on employee retention and enterprise performance.
TASK 1
INTRODUCTION
Talent management is one of the most important factors in ensuring sustainable
organisational success. This is the most commonly used term that help to extends over a wide set
of activities such as planning, employee performance and so on. But the role of talent
management plays in systematic and dynamic way to process of discovering, developing and
sustaining talent. Sometimes, different kind of talent management strategies are also used in the
business which help to retain and develop talent individuals.
In this report, it is mainly focused on the concept of talent management and identify its
significant impacts on employee retention, and also supports in the business performance.
Aim – To identify the impact of talent management on employee retention and enterprise
performance. A Case study on M&S.
Objective-
 To understand the concept of talent management
 To determine impact of talent management on employee retention
 To overcome business related challenges by using effective talent management strategies
Research questions-
 What is the concept of talent management?
 What are different impacts of talent management on employee retention
 How can overcome challenges of enterprise by using talent monument strategies
Project planning
Project management plan-
PMP is define as set of different activities which enables successful implementation of
project, where a project manager plays an important role to involve with different interrelated
activities (Østerby, 2020). Project management plan is completely related to planning and then
executed tasks in certain sequences to generate unique result or outcome. Here are consider the
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different elements used in the project management plan. This will help for project manager to
identify the current performance of research project.
 Time- the overall project should be completed within 1- months.
 Quality- project manager will concern about quality of research project so that they will
try to gather or collect relevant data from authenticate sources. It means that uses
accurate information in research analysis. The quality metrics are consider as an
important aspect in research project. This is because of their importance in further
findings.
 Communication- within research process, it will be required to maintain, control and
schedule meeting with participants. All members are established a better coordination so
that it will help to complete tasks immediately. Project manager will always shows a
positive expression, interest at the time of meeting. Therefore, it can easily assigned the
different role and responsibilities (Whysall, Owtram and Brittain, 2019). Additional or
alternative work group are collaborative. If it may increase needs. Project manager will
focus on progress and request to other members. This will help to establish a strong
communication between different stakeholders.
 Risk – in the research project, it arises some common risk or threat at the time of
research. It including financial risk, system failure, lack of collaboration, over-budget.
These are common issue identified by project manager. Afterwards, project manager will
consult with team members and decide if the issue should be reported. The collaborative
work site will be examined as place to track or monitor issues (Coy, 2019). For research
project, it continuously doing work and move towards desirable problem. Sometimes, it
also identified unexpected problem in term of testing process. Therefore, other items are
affected and delay in the project completion.
 Resources- in research project, the essential resources are team members, who have
performed the different tasks accordingly. Another way, project manager will use
different resources such as equipment’s, computers, and hardware and so on.
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Gantt Chart-
The project schedule will be posted through online and keep maintain a updated tasks in
proper manner. If any kind of changes done on the basis of schedule. But it is very important to
revise project time-line after taking approval.
Conducting research
Research methodology is based on the plan and procedures used to identify, select,
process and analyse lot of information about research topic (Gupta, 2019). In this research study,
investigator allows reader to critically evaluate the study’s entire validity & reliability.
Research Method – Researcher has chosen qualitative research method that help to gather large
amount of information or data. The reason for selecting qualitative method which means that
analyses data in theoretical manner. Research is mainly focused on the impact of talent
management on employee retention and organizational performance.
Research Design- it is based on framework of research methods or techniques. Basically, a
researcher uses in further analysis. In this study, investigator has chosen Descriptive design and
consider a previous studies. On the basis of previous studies, researcher is trying to develop or
create appropriate beliefs, assumptions.
Data Collection Methods- data collection method is a process in which select or use the
appropriate method to collect, gather relevant information. In this study, researcher has chosen
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both primary data collection by using Questionnaires (Meyers, 2020). In secondary data, it
should be consider relevant journals, articles. These are supporting to find the accurate result or
outcome.
Data Analysis- In this research study, Investigator has been used thematic analysis because in
qualitative method, it can be used theoretical data and identify its importance within research
analysis.
Sampling- Researcher has chosen simple random technique. Sample Size is 30 employees of
SMEs.
Ethical Consideration- within study, Researcher has concerned about the ethics in the study
because it is needed to be considered the involvement of participation, maintain sensitive and
confidential information (Lassonde and Galman, 2019). If any kind of complex situation, it is
always maintained a proper dignity of every participants at the time of research analysis. Ethics
plays an important role in research study to create a flexible environment so that each and every
participants do their task in proper manner.
TASK 2
Primary research
In this study, it has conducted the primary research by using Questionnaires technique which
means that identify the opinion or view point of targeted respondents.
Questionnaires
Theme: 1 Talent management impacts on the overall business performance.
Q.1 Do you think that talent management impacts on the overall business performance?
Frequency Response
Strongly agree
Agree
Strongly disagree
Disagree
12
8
5
5
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Total 30
Table: 1
Figure: 1
Data Interpretation-
In above table, it has been analysed that talent management impacts on the organisation
performance. As per performed the investigation, it can be identified opinion or view point of
targeted respondents. On the basis of analysis, It can be determined that 12 respondents are
strongly agree, 8 respondents are agreed, 5 respondents are strongly disagree and 5 respondents
are disagreed. Maximum respondents have shown a positive response towards concept of talent
management which plays an important role in term of business enhancement.
Theme: 2 Talent management strategies utilise the process of employee retention, training and
development.
Q.2 Is it possible to talent management strategies utilise the process of employee retention,
training and development?
Frequency Response
Strongly agree
Agree
10
8
7

Strongly disagree
Disagree
7
5
Total 30
Table: 2
Figure: 2
Data Interpretation-
In above chart, it has concluded that talent management strategies plays an important role
to utilise the actual process of employee retention, training as well as development. This is why
because of importance where different kind of strategies always supports to increase the
performance and efficiency of organisation. Discussion has done on the basis of analysis.
Therefore, it can be gathered or collected the response of different respondents. Moreover, it has
been summarised that 10 respondents are strongly agree, 8 respondents are agreed, 7 respondents
are strongly disagree and 5 respondents are disagreed. Maximum respondents have showing a
positive response within talent management strategies.
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Theme: 3 SMEs work directly with staff members in context of talent management initiatives
Q.3 Do you believe that SMEs work directly with staff members in context of talent
management initiatives?
Frequency Response
Strongly agree
Agree
Strongly disagree
Disagree
10
9
8
5
Total 30
Table: 3
Figure: 3
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Data Interpretation-
In above table, it has been concluded that different Small scale enterprises are started the
work directly with staff members. Usually, it initiatives as talent management to influence or
inspire the workforce in the organisation. Different SMEs are adopting the talent management
approach where it also identified the better way to attract more employees towards organisation.
On the basis of analysis, Moreover, it can be identiffied that 10 respondents are strongly
agree, 9 respondents are agreed, 8 respondents are strongly disagree and 5 respondents are
disagreed. Maximum respondents have showing a positive response within talent management
strategies.
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Theme: 4 talent management initiatives as top priority for SMEs.
Q.4 Do you believe that SMEs work directly with staff members in context of talent
management initiatives?
Frequency Response
Strongly agree
Agree
Strongly disagree
Disagree
8
9
8
7
Total 30
Table: 4
Figure: 4
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Data Interpretation-
In above table, it has been concluded that different Small scale enterprises are started the
work directly with staff members. Usually, it initiatives as talent management to influence or
inspire the workforce in the organisation. Different SMEs are adopting the talent management
approach where it also identified the better way to attract more employees towards organisation.
On the basis of analysis, Moreover, it can be identiffied that 10 respondents are strongly
agree, 9 respondents are agreed, 8 respondents are strongly disagree and 5 respondents are
disagreed. Maximum respondents have showing a positive response within talent management
strategies.
Theme: 5 Talent management kept pace with changing demands of the workplace.
Q.5 Has talent management kept pace with changing demands of the workplace?
Frequency Response
Strongly agree
Agree
Strongly disagree
Disagree
11
9
8
10
Total 30
Table: 5
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