Role of Talent Management Strategies in Employee Retention and Development: A Study on Pret a Manger
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This report investigates the role of talent management strategies in employee retention and development in the context of Pret a Manger. It includes a literature review, methodology for data collection and analysis, results, and challenges faced by the company.
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Table of Contents TITLE: “To study of the role of talent management strategies.”...............................................3 INTRODUCTION......................................................................................................................3 MAIN BODY.............................................................................................................................3 Aims and Objectives..............................................................................................................3 Rationale for selection............................................................................................................3 Literature review....................................................................................................................4 Critique of references from primary sources e.g. questionnaires, interviews; secondary sources e.g. books, journals, internet;...................................................................................5 Methodology for data collection and analysis........................................................................5 Results (Findings)..................................................................................................................5 Scope and limitations.............................................................................................................5 CONCLUSION..........................................................................................................................6 REFERENCES...........................................................................................................................7 Books and Journals:................................................................................................................7 Online:....................................................................................................................................7
TITLE: “Talent management” INTRODUCTION This report aims to investigate the role of talent management strategies in employee retentionanddevelopmentinorganisationinthecontextofPretamanger.Talent management is playing an important role in the success and growth of any organisation. This is necessary to understand by company that their success is depending on its employees (Claus, 2019). That’s why it is important for them to focus on the development and retention of their talented employees. Pret a manger is found an international shop that runs their business not only in one country but in many countries. This report will be covered a research method which helps to investigate the role of talent management strategies in Pret a manger. Itwillalsoincludethechallengesthatfacedbycompanyduetoineffectivetalent management implementation. MAIN BODY Aims and Objectives Aims:“Toinvestigatetheroleoftalentmanagementstrategiesinemployee development and retention within an organisation.” A study on Pret a manger Objectives: To understand the concepts and different practices of talent management To examine the importance ofemployee development and retention within an organisation” To determinethe challengesfaced by Pret a manger due to ineffectivetalent management implementation Rationale for selection Every day there is continuously increasing complexity and dynamic nature of the business environment which becomes very challenging for organizations to deal with them. The current example of the scenario is the pandemic situation which creates many challenges in front of the managers of the company that should be dealt with in order to survive in the market(Whysall,OwtramandBrittain,2019).Duringthatperiod,itisanalysedby organizations that telling management is very important and companies should focus on
developing talent management strategies so that they are able to retain and develop their talented employees who are able to deal with the uncontrollable situations. This is the reason that this topic is chosen. It helps in retaining and developing employees in the organization as human resource is the asset of the company. Literature review To understand the concepts and different practices of talent management According toDe Boeck, Meyers and Dries, 2018, talent management is an important humanresourcepracticethatisnecessaryforthedevelopmentandsuccessofthe organisation. It is important to know that talent management should be able to manage the talented employees of the company so that they are able to survive in the market. The reason for talent management practices is that the organisation must have the best talent in order to succeed in the complex global economy and hyper-competitive economy. This is the reason that they need to manage their talented employee with the help of hiring, developing, and retaining talented people. It is necessary for an organisation to understand that there should not be a shortage of talented employees in the company because if it is found any shortages in talented employees then the company is not able to deal with the uncontrollable external environment factors which affect the company negatively. Pret a manger is an international company that has a franchise in the United Kingdom with multiple stores. They understand the importance of talent management practices and they very well used talent management practices in the situation of a pandemic (Mtvralashvili,2019). Some important practices of talent management which they considered are company is always focusing on alignment of talent restart you with business strategy. In this practice, they are always focusing on that their effective talent management requires that the company should share its business goals anditsstrategieswiththattalentedemployee.Thenextbusinesspracticeistalent management professionals should focus on setting the table instead of a seat at the table. That means generally the HR professionals always focus on that talent management is the criteria for senior management but it is necessary for them to understand that talent management is also a responsibility of HR professionals. To examine the role of talent management strategies in employee development and retention According toAnsar and Baloch, 2018, talent management strategies are playing a very important role in retaining and developing employees. It is necessary for an organisation
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to make and implement a talent management strategy so that company is able to retain its talented employees. For example, the company should use performance appraisal strategies in an effective way so that they can satisfy their employees and provide fair dealing with them. It is necessary for complete to provide security that their employees will not ever be discriminated against by organisation. This is really helpful for them as it ensures the retaining of talented employees. It is identified that ensuring effective on boarding makes an employee relationship with the company better as compared to infective on boarding. It is very important that the human resource management department of the company needs focuses on providing effective training and development programs so that they are able to develop the skills and knowledge of their employees in an effective way(Luxmoore,2018). With the help of these practices, a company can effectively develop and retain talented employees which will become a success factor for the company. It not only provides success but creates an image in front of the market that how much organisations care for their employees. To determine the challenges faced by Pret a manger due to ineffective talent management implementation AccordingtoKravaritiandJohnston,2020,infectivetalentmanagement implementationcreatesmanychallengesinfrontoftheorganisation.Infectivetalent management implementation includes poor hiring strategies, infective leadership, etc. These activities will provide a direct impact on the employees as they may be is not able to satisfy the policy and culture of the organisation. This will leads to efficiency in their work as well as less productivity in the employees. This is the main reason that company needs to make sure effective talent management implementation if they want to succeed in the market. Critique of references from primary sources e.g. questionnaires, interviews; secondary sources e.g. books, journals, internet; Methodology for data collection and analysis The methodology is an important part of a research which influence a researcher to take appropriate decision about it (Ridgway,2019). It is require to choose appropriate methods which will be helpful for gathering data, sources of information and conduct a thorough study on the topic. Choosing right method for the research will be beneficial to cover its aims and objectives.
Research philosophies:The philosophy consist the assumptions, beliefs and values of the researcher which focus on fulfilling the aim of the study. It includes all the believe and presentation of the data in an effective manner. The researcher will conduct a study on their pre determined believes and observations. Therefore, the two important philosophies are positivism and interpretivism (Davis,Lockwood,Alcott, and Pantelidis,2018). The main purpose of choosing philosophy is to work on the viewpoints of different individuals in which intrepretivism are used. Whereas, positivism philosophy is used when there is requirement of scientific study and all the beliefs are based on true experiments. This research is based on the same as it will helps in gaining relevant results. Research approach:It shows that how the research will be conducted through what approaches and methods. This discussion is crucial for the researcher to conduct a study on the aspects that is going to be beneficial for covering its aims and objective. A research must be conducted in cost effective manner and by knowing is applicability (Whysall,Owtram, and Brittain, 2019). Therefore, there are two approach inductive and deductive in which, this research is based on deductive whereas, a new thesis is required to carry out the study. Data collection:It is necessary to use relevant data collection methods in order to ascertain appropriate ways and sources (Hirth,Boons, and Doherty,2021). It helps in conducting research through using reliable sources which are authentic and gives accurate results. This research is based on quantitative study in which the data will be gathers through using data and figures(Yuan, 2021). The qualitative method is not used in this researcher as it does not provide accurate information and there are chances of lack of reliability. Research strategy:It refers to the ways and aspects in which the research is going to conduct. There are many ways which are helpful to collect data and fulfil the aims of researcher (Galunic, Putz, 2019). But the most suitable strategy will be beneficial for the particular research topic. Hence, survey research strategy is used in the form of questionnaire. The others methods are observation, interviews and literature review. Time horizon:This shows that what time horizon is used in the research. The cross sectional time horizon is used in which the study can be change as per the requirements. Sampling method:There are two types of sampling method which are random and probabilistic sampling in which a sample size is decided. This research is using probabilistic sample in which random sampling is used. There are 10 respondents who are the employees of Pret a manager.
Ethical consideration:The information given by the research should not loses their consent. All the resources must be used effectively by giving it evidence (Golossenko,Pillai, and Aroean, 2020). ACTIVITIESSTART DATEDURATION 101-Sep1 202-Sep-2214 302-Sep-2214 416-Sep-227 523-Sep-227 630-Sep-2228 728-Oct-2242 828-Oct-2212 930-Sep-222 1003-Oct-2284 1102-Sep-227 1209-Sep-227 1328-Oct-2235 1402-Dec-221 1503-Dec-225 1628-Oct-227 1704-Nov-2221 1816-Oct-224 1903-Oct-227 2009-Dec-225 2126-Dec-221 2227-Dec-2210 1 2 3 4 5 6 7 8 9 1 0 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 2 0 2 1 2 2 01-Sep 02-Sep-22 02-Sep-22 16-Sep-22 23-Sep-22 30-Sep-22 28-Oct-22 28-Oct-22 30-Sep-22 03-Oct-22 02-Sep-22 09-Sep-22 28-Oct-22 02-Dec-22 03-Dec-22 28-Oct-22 04-Nov-22 16-Oct-22 03-Oct-22 09-Dec-22 26-Dec-22 27-Dec-22 1 14 14 7 7 28 42 12 2 84 7 7 35 1 5 7 21 4 7 5 1 10 GANTT CHART Results (Findings) Q.1. Do you understand that talent management is considered as an essential business practice? Frequency a) Yes8 b) No5 a) Yesb) No 0 2 4 6 8 10 12 14 16 15 5
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Scope and limitations CONCLUSION Interpretation:It has interpreted that, 8 respondents understand about the concept of talent management whereas, 5 are still unaware about it. Q.2. What is the role of talent management within an organisation?Frequency a) Talent retention3 b) Employee development2 c) Employee engagement3 d) Talent attraction2 a) Talent retention b) Employee development c) Employee engagement d) Talent attraction 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 5555
Interpretation:As per equal number of respondents, all are voted differently for all the four options as per their viewpoints. This shows that, all the individuals have different opinions regarding the role of talent management in the organisation. Q.3. What are the challenges that can be faced by Pret a manger due to ineffective talent management? Frequency a) High employee turnover4 b) Attainment of business objectives2 c) Minimised employee development2 d) Disinterested employees2 Interpretation: Q.4.Asperyourexperience,doesPretamangerimplements practices of talent management in their organisation? Frequency a) High employee turnover b) Attainment of business objectives c) Minimised employee development d) Disinterested employees 0 1 2 3 4 5 6 6 44 6
a) Yes15 b) No5 Interpretation:As per the views of 4 people, the company facing challenge of high employee turnover(Piétrac,2021). The other 2 candidates are in favour of other potions which show that, the main challenge is about high turnover. Q.4.Asperyourexperience,doesPretamangerimplements practices of talent management in their organisation? Frequency a) Yes8 b) No2 a) Yesb) No 0 2 4 6 8 10 12 14 16 15 5
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Interpretation:as per 8 people, the company is assuring practices of talent management whereas, other 2 people are not in favour with this sentence. Q.5. Do you think that an organisation should invest their time and resources in developing talent management aspects within business strategy? Frequency a) Yes5 b) No5 Interpretation:The 5 people believed that the organisation needs to invest in time and resources which will be effective for them to attain success. a) Yesb) No 0 2 4 6 8 10 12 14 16 15 5
CONCLUSION The report has concluded that, there is requirement of great strategies of talent management within an organisation. Managing talent will be crucial function for a firm in order to secure market growth for long term in the organisation. Therefore, the report has shown that, the research is based on primary and secondary research which emphasize on reliability and authenticity of the data.So that, the researcher has conducted questionnaire and literature review to fulfil its aims and objectives. Also, there are findings presented in the way of interpretation.The research has shown recommendation is about how the manager could solve the problem by retaining talent employees. Also, the scope of this project in global and local both which is applied to all the areas of business.
REFERENCES Books and Journals: Ansar, N. and Baloch, A., 2018. Talent and talent management: definition and issues.IBT Journal of Business Studies (IBTJBS),14(2). Claus, L., 2019. HR disruption—Time already to reinvent talent management.BRQ Business Research Quarterly,22(3), pp.207-215. Davis,B.,Lockwood,A.,Alcott,P.andPantelidis,I.S.,2018.Foodandbeverage management. Routledge. De Boeck, G., Meyers, M.C. and Dries, N., 2018. Employee reactions to talent management: Assumptions versus evidence.Journal of Organizational Behavior,39(2), pp.199- 213. Galunic, C., 2020.Backstage leadership: The invisible work of highly effective leaders. Springer Nature. Kravariti, F. and Johnston, K., 2020. Talent management: a critical literature review and research agenda for public sector human resource management.Public Management Review,22(1), pp.75-95. Piétrac, É., 2021. DOSSIER 6. L’OUVERTURE INTERNATIONALE. Putz,M.,2019.TheCubeofStrategicManagement:TheDistinctiveAdvantageof Organizations. CRC Press. Ridgway,M.,2019.Brexit:humanresourcingimplications.EmployeeRelations:The International Journal. Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of Industry 4.0.Journal of Management Development. Mtvralashvili, A., 2019.The effect of staff training practices on customer satisfaction: A case study of Pret a Manger. GRIN Verlag. Luxmoore, S., 2018. Pret A Manger doubles discount for bringing reusable coffee cups.The Guardian. Hirth, S., Boons, F. and Doherty, B., 2021. Unpacking food to go: Packaging and food waste of on the go provisioning practices in the UK.Geoforum,126, pp.115-125. Golossenko, A., Pillai, K.G. and Aroean, L., 2020. Seeing brands as humans: Development and validation of a brand anthropomorphism scale.International Journal of Research in Marketing,37(4), pp.737-755. Yuan,S.N.V.,2021.Largescalepsychometricvalidationoftwopositivepsychology outcome measures for people with dementia in Hong Kong(Doctoral dissertation, UCL (University College London).
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Appendix Questionnaire Q.1. Do you understand that talent management is considered as an essential business practice? Frequency a) Yes 8 b) No 5 Q.2. What is the role of talent management within an organisation? a) Talent retention b) Employee development c) Employee engagement d) Talent attraction Q.3. What are the challenges that can be faced by Pret a manger due to ineffective talent management? a) High employee turnover b) Attainment of business objectives c) Minimised employee development d) Disinterested employees Q.4. As per your experience, does Pret a manger implements practices of talent management in their organisation? a) Yes b) No Q.5. Do you think that an organisation should invest their time and resources in
developing talent management aspects within business strategy? a) Yes b) No