Talent Management Strategies for Attracting and Retaining Skilled Employees

This report discusses talent management strategies for attracting and retaining skilled employees within business to improve its performance. It includes a project management plan, work breakdown structure, Gantt chart, and small-scale research using quantitative research methods. The findings are presented with appropriate tools and techniques, and recommendations are provided.

Talent management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1 Devise project aims and objectives for a chosen scenario.....................................................1
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources..............................................................................................2
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion..............................................................................................................................4
TASK 2............................................................................................................................................6
P4 Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives...................................................................6
TASK 3............................................................................................................................................9
P5 Analyse research and data using appropriate tools and techniques........................................9
P6 Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................17
TASK 4..........................................................................................................................................18
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance........................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
Appendix 1: PERFORMANCE REVIEW REPORT....................................................................20
Appendix 2: PROJECT LOG-BOOK............................................................................................20

INTRODUCTION
Talent management strategies can be described as the approaches that is used by
organisation in order to attract as well as retain talented employees within business. Talent
management is one of the vital part of business that is huge for improving execution and abilities
of business. It is essential that organization is thinking about viable talent management practices
to draw in exceptionally abilities and capable workers with in business (Kaltenbaugh and
Parsons, 2021). This report is based on Next Plc company. This is a public limited company that
is performing its practices in retail sector. Next plc organisation was founded by Joseph
Hepworth in the year 1864. This company is providing high quality fashionable products and
services to different parts of the world. Next Plc’s head office is located in Enderby, England,
UK. The aim of this report is to the talent management strategies that is useful for attracting and
retaining skilled employees within business in order to improve its performance. This report
includes information about project management plan along with aims and deliverables, time,
quality, communication, risk and resources. It consists of work breakdown structure and a Gantt
Chart. In this report, primary and secondary method as well as qualitative and quantitative
approach for collecting data has been determined. In the respective report, the findings are
presented in an accurate manner and recommendations has been provided as well. Apart from
this, reflective practice has been conducted in order to determine self performance.
MAIN BODY
TASK 1
P1 Devise project aims and objectives for a chosen scenario.
Research aim
“To investigate the talent management strategies that is useful for attracting and retaining skilled
employees within business in order to improve its performance.” A case study on Next Plc,
United Kingdom.
Research objective
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 To determine the concept of talent management within an organisation
 To analyse different talent strategies which are considered by Next Plc company in order
to attract and retain people.
 To evaluate the significance of effective and efficient talent management strategies for
improving performance and productivity of business.
Research question
 What is the concept of talent management within organisation?
 What are different talent strategies which are considered by Next Plc company in order to
attract and retain people?
 What are the significance of effective and efficient talent management strategies for
improving performance and productivity of business?
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources.
Project management plan can be described as practices of developing and outlining project
activities in order to attain desired goals (MADUEKE, Okoro and BABARINDE, 2020). It is
essential for project manager to develop effective and efficient project management plan in order
to successfully performing business practices. This plan includes information about different
aspects and elements of the project which is needed to be accomplished. Project management
plan consist of various factors such as, communication, quality, risk, aims, deliverables, time and
resources. All of these elements of project management plan is mention below –
 Communication – Communication can be described as the practice of interacting with
other with the motive of gathering and collect data. Researcher needs to communicate
with various stakeholder in order to collect or gather data and information about the
research topic.
 Quality – Quality is a crucial part while conducting practices of the project. It is
fundamental for researcher to conduct accurate research practices with the motive of
gathering appropriate information. High quality of collected information will directly
assist in accomplishing objective.
 Risk – There are different kinds of risk components that will lead have influence over
execution of the research practices. It is fundamental for researcher to decide all risk and
2

foster powerful technique to manage it. The significant risk that is implied in this
research is misuse of information or performance of unethical practices.
 Aims – The aim of respective project management plan is to investigate the talent
management strategies that are useful for attracting and retaining skilled employees with
in business in order to improve its performance
 Deliverables – It can be referred as the yield of the project plan which should be refined
by individual to accomplish wanted objectives. It is essential for project manager to carry
out practices in significant and effective manner with the motive of attaining required
goals.
 Time – It refers to the time length that is required by individual to effectively complete
research rehearses and achieve objectives. In this research project, examiner will require
8 weeks of time span (Onyusheva, Thammashote and Thongaim, 2020). This time
duration will be significant in order to gather required information as well as attain
objectives of project.
 Resources – It can be described as all the assets and elements which are needed to
successfully perform project plan. In this research project, supervisor will require human
resource, financial resources and so on.
 Cost – This can be refer as the actual money or funds required by researcher for
performing research practices. It is crucial to have appropriate amount of cost in order to
successfully conduct project task.
Particulars Amount
Promotion expenses £80
Cost incurred in technology £100
Other Expenses £90
Total Cost £370
3

P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion.
Work breakdown structure
It can be described as a tool or approach which is used by project manager in order to
successfully and effectively conduct practice. The work breakdown structure includes separating
deliverables. Work breakdown structure is a kind of project management that offers a visual
method to detail the deliverables inside a project. Through work breakdown structure, project
manager is able to classify large task into smaller parts as well as focus on attaining small goals
(Shimasaki, 2020). Thus, work breakdown structure is great for complex projects that include
various advances and partners. The work breakdown structure partitions all deliverables into sub-
deliverables until they are reasonable enough that one individual can finish them. Every
deliverable likewise gets allocated a cost and time measure. Work breakdown structure play a
significant role in project management plan and help project manager.
Gantt charts
Gantt chart is refers as the tool of project management which is shown in a form of bar chart.
This is consider as best project management device that is huge for directing various exercises of
project in viable and effective way. Gantt chart is created by Henry Gantt who is an American
designer and project management consultant (Wacklin, 2020). Gantt charts are most ordinarily
utilized for following project plans. It is valuable to have the option to show extra data about the
different tasks or periods of the project. This is considered as a very effective tool of project
management as it provides several benefits to project manager to successfully complete the
project. Gantt charts envision the structure squares of a project and put together it into more
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modest, more sensible tasks. The subsequent little tasks are booked on the Gantt charts timeline,
alongside conditions between tasks, chosen ones, and milestones. In this, all activities of the
project can be represented in significant and accurate manner.
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Milestones of the project
The milestones of this project includes high priority task, checkpoints as well as deliverables. In
this project, manager is responsible to determining milestones in order to successfully and
effectively conducting practices of the project. Manager will make sure the they have proper
funds and other resources in order to perform project activities.
TASK 2
P4 Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives
Research methodology is can describe as the way of collecting and gathering information
that is needed for attaining desired outcomes. It is essential for researcher to consider correct and
accurate research methods which assist in meeting project aims and objectives. There are two
research methods such as qualitative and quantitative research method. This is mention below in
detail –
 Qualitative Research – Qualitative research includes gathering and breaking down non-
numerical information to get ideas, conclusions, or encounters. It very well may be
utilized to assemble top to bottom experiences as an issue or produce groundbreaking
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thoughts for research. This kind of research consist of quality and in depth information
about the topic. The information collecting and research practices can be adjusted as
innovative thoughts or examples occur.
 Quantitative research – Quantitative research is the procedure which researchers use to
test speculations about individuals' perspectives and practices dependent on numerical
and statistical proof. It includes gathering and breaking down numerical information for
statistical examination. This includes different methods of data collection such as
questionnaire, focus group, experiments, interview and so on.
In this research project, investigator is considering quantitative research which includes
questionnaire method in order to gather correct and appropriate information about the
research topic.
Questionnaire
Name –
Age –
Contact number –
1. Are you well aware regarding the idea of talent management strategies?
Yes
No
2. As per your views, what is the crucial purpose of talent management practices within an
organisation
 To identify and recruit required candidate
 Develop strategic process
 Increase company performance
 All of the above
3. Do you consider that talent management is effective process through which businesses
can recognize as well as develop talented people?
 Agree
 Disagree
4. According to you, what is the major significance for Next Plc company to use effective
talent management strategies?
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 Help in attracting skilled candidate
 Improve productivity
 Reduce employee turnover rate
 Enhance working environment
 All of the above
5. As per your views, what are the talent strategies that needs to be used by Next Plc
company to successfully attract and retain skilled employees within an organisation?
 Develop detailed job description
 Provide continuous improvement opportunities
 Create positive working culture
 Collaborative working
 All of the above
6. What are the key factors related to talented motivated employees which is important for
influencing success of business as well as gaining competitive edge in industry?
 Staff retention
 Training and development
 Improving morale of employees
 All of the above
7. Do you feel that Next Plc company faces any issues while conducing talent management
practices in significant and effective manner?
 Yes
 No
8. According to you what are the major challenges for company in order to successfully
perform talent management strategies and process?
 Increase in business costs
 Recruitment difficulties
 Changing attitude of employees
 All of the above
9. Do you have any suggestion for manager of Next Plc company to correctly manage
talented and skilled employees with the motive of successfully performing organisational
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activities?
TASK 3
P5 Analyse research and data using appropriate tools and techniques.
Theme 1 – The idea of talent management strategies
1. Are you well aware regarding the idea
of talent management strategies?
Frequency
 Yes 45
 No 5
Interpretation – Through the above mentioned data, it has been analysed that out of 50
respondents, 45 have an idea about talent management strategies. Whereas, only 5 respondents
says that they do not have an idea about talent management strategies.
Theme 2 – The crucial purpose of talent management practices with in organisation.
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2. As per your views what is the crucial
purpose of talent management practices
with in organisation
Frequency
 To identify and recruit required
candidate
10
 Develop strategic process 10
 Increase company performance 10
 All of the above 20
Interpretation – According to the data analysis, it has been analysed that there are different
purposes of talent management. It has been determined that out of 50 respondents 10,10 and 10
feels that purpose of talent management is to identify and recruit required candidate, develop
strategic process and increase company performance of organisation respectively. Whereas the
other 20 feels that all of the above mention are crucial purpose of talent management practices.
Theme 3 – Talent management is an effective process through which businesses can recognize as
well as develop talented people.
3. Do you consider that talent
management is effective process
Frequency
10

through which businesses can recognize
as well as develop talented people?
 Agree 40
 Disagree 10
Interpretation – Through above mentioned data, it has been analysed that most of the respondents
consider that talent management is an effective process through which businesses can recognize
as well as develop talented people. In the survey, out of 50 respondents, 40 responded with agree
whereas only 10 responded with disagree.
Theme 4 – The major significance for Next Plc company to use effective talent management
strategies.
4. According to you, what are the major
significance for Next Plc company to
use effective talent management
strategies?
Frequency
 Help in attracting skilled candidate 10
 Improve productivity 10
 Reduce employee turnover rate 10
 Enhance working environment 5
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 All of the above 15
Interpretation – It has been identified that there is a different significance for Next Plc company
to use effective talent management strategies. Through the above mentioned data, it has been
analysed that 10, 10, 10 and 5 respondents feel that talent management will help in attracting
skilled candidate, improve productivity, reduce employee turnover rate and enhance working
environment respectively. Whereas, other 15 respondents consider that all of the above mention
factors are significant for effective talent management strategies.
Theme 5 – The talent strategies that needs to be used by Next Plc company to successfully attract
and retain skilled employees within organisation.
5. As per your views, what are the talent
strategies that needs to be used by Next
Plc company to successfully attract and
retain skilled employees within
organisation?
Frequency
 Develop detailed job description 10
 Provide continuous improvement
opportunities
8
12

 Create positive working culture 10
 Collaborative working 10
 All of the above 12
Interpretation – Through the above shown graphical representation, it has been determined that
there are different talent strategies that could be used by Next Plc company to successfully attract
and retain skilled employees within organisation. It has been analysed that out of 50 respondents
10, 8, 10 and 10 consider that Next Plc company should develop detailed job description, provide
continuous improvement opportunities, create positive working culture and collaborative
working respectively. Whereas, other respondents that is 12 out of 50 feels that all of these are
effective and efficient strategies of talent management which needs to be used by Next Plc
company.
Theme 6 – The key factors related to talented motivated employees which is important for
influencing success of business as well as gaining competitive edge in industry.
6. What are the key factors related to
talented motivated employees which
are important for influencing success of
business as well as gaining competitive
edge in industry?
Frequency
13

 Staff retention 10
 Training and development 10
 Improving morale of employees 10
 All of the above 20
Interpretation – It has been analysed that there are different factors related to talented motivated
employees which is important for influencing success of business as well as gaining competitive
edge in industry. Through the analysis of survey, it has been identified that out of 50 respondents
10, 10 and 10 consider that staff retention, training and development and improving morale of
employees respectively is important factor of talent management. Whereas, majority of
respondents that is 20 out of 50 feels that all of the above mention are crucial factor of talent
management that will assist business in gaining competitive edge over other rival companies.
Theme 7 – Issues faced by Next Plc company while conducing talent management practices in
significant and effective manner.
7. Do you feel that Next Plc company
faces any issues while conducing talent
management practices in significant
and effective manner?
Frequency
14

 Yes 45
 No 5
Interpretation – It has been determined that most of the respondents consider that respective
organisation face issues while performing business practices. Out of 50 respondent 45 responded
in positive manner. where as other 5 responded with no.
Theme 8 – The major challenges for company in order to successfully perform talent
management strategies and process.
8. According to you what are the major
challenges for company in order to
successfully perform talent
management strategies and process?
Frequency
 Increase in costs 10
 Recruitment difficulties 5
 Changing attitude of employees 10
 All of the above 25
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Interpretation – As per the analysis of the collected data, it has been determined that there are
different challenges for a company in order to successfully perform talent management strategies
and process. Through this it has been identified that out of 50 respondents 10, 5 and 10 feels that
increase in cost, recruitment difficulties and changing attitude of employees respectively is the
major challenge. Whereas, the other 25 respondents out of 50 feels that all of the above
mentioned are the crucial challenges and will lead to have a negative impact on performance and
capabilities of business.
Theme 9 – Suggestion for manager of Next Plc company to correctly manage talented and
skilled employees with the motive of successfully performing organisational activities
9.Do you have any suggestion for manager of Next Plc company to correctly manage talented
and skilled employees with the motive of successfully performing organisational activities.
Interpretation – Yes, it is crucial for manager of Next Plc company to create positive and
effective working environment in order to correctly manage talented and skilled employees with
the motive of successfully performing organisational activities. It has been analysed that working
environment will lead to have major impact over performance of business as employees will be
able to conduct business task in significant and effective manner. By enhancing working
environment Next Plc company will be able to create better working relationship with employees
and this will assist in retaining them with in respective company.
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P6 Communicate appropriate recommendations as a result of research and data analysis to draw
valid and meaningful conclusions.
As per the above analysis there are several recommendations for manager of Next Plc
company. These recommendations will assist in enhancing working environment as well as
conducting business practices in a successful manner. Different recommendation in context of
talent management of Next Plc company are mentioned below in detail –
 Training and development program – It can be referred to the practice of organisation for
providing training to its employees with the motive of increasing their performance. It is
fundamental for supervisor to lead viable training and development program that is
effective for expanding execution of representatives. Training and development practices
will lead inspire workers as well as increase their abilities to lead business exercises in
significant and productive way (Wacklin, 2020). Through training and development,
Next Plc company will be able to encourage employees to conduct set of task in required
manner as well as accomplish desired goals.
 Motivational activities – There are different motivational activities that could be
considered by respective company to influencing talent management activities. It is
recommended to the manager of Next Plc to perform different motivational activities
such as rewards and recognition, benefits and many more. Organization to enahnce
motivational exercises to further develop talent management rehearses. It is pivotal for
different organization to lead diverse motivational exercises to impact execution and
usefulness of workers. This will lead to have significant impact on performance and
productivity of employees.
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TASK 4
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance
I have conducted research report with the aim to investigate the talent management
strategies that is useful for attracting and retaining skilled employees within business in order to
improve its performance. It was a case study of Next Plc, United Kingdom. This is effective
learning practices that will assist me in my future professional career. Through this research, I
have analysed different aspects of talent management as well as significance of talent
management in retaining and attracting talented employees. While conducting this research
project, I have learned different new things such as recruitment and selecting, talent management
strategies. This assists me in improving my skills as well as potential. I have faced several
challenges that lead to have impact over my performance and capabilities. I have identified that
time management is one of the strength that assisted me in successfully and effectively
completing this research project. Through effective time management, I was able to complete all
task in desired time frame. I have analysed that communication skills are my weakness. Due to
lack of effective communication, I was not able to convey message to others. This has negatively
influenced my capabilities to conduct task in required manner. In order to deal with these issues,
I have taken support from my senior person. Support and assistance from my senior manager
helped me to accomplished desired outcomes.
CONCLUSION
From the above report, it can be concluded that talent management is essential for business
in order to attract or retain skilled employees. It is crucial for project manager to develop
effective plan for accomplished goals. Work breakdown structure and Gantt chart assist in
managing different task in accurate manner. Apart from this, there are different tools and
methods to collect and analyse data. Through this report it has been analysed that there are
different talent management practices which needs to be performed in appropriate and effective
manner.
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REFERENCES
Books and Journals
Kaltenbaugh, L.P. and Parsons, J., 2021. Managing a Successful Cocurricular Club: Practical
Experience Outside the Classroom. Sport Management Education Journal, 15(1), pp.60-62.
MADUEKE, D., Okoro, C.B. and BABARINDE, S.A., 2020. Managing Challenges Associated
with the Small Business Failure in Emerging Markets: The Nigerian Illustration. TEST
Engineering and Management, 83, pp.27469-27488.
Onyusheva, I., Thammashote, L. and Thongaim, J., 2020. URBAN BUSINESS
ENVIRONMENT: MANAGING CROSS-CULTURAL PROBLEMS. The EUrASEANs: journal
on global socio-economic dynamics, (1 (20)), pp.30-43.
Shimasaki, C. ed., 2020. Biotechnology Entrepreneurship: Leading, Managing and
Commercializing Innovative Technologies. Academic Press.
Wacklin, J., 2020. The Challenge of Managing a Diversified Company: Tampella Corporation
1958–1995. JYU dissertations.
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Appendix 1: PERFORMANCE REVIEW REPORT
Student Name:
Project Title: To investigate the talent management strategies that are useful for attracting and
retaining skilled employees with in business in order to improve its performance.
What was the project supposed to accomplish?
This project supposed to accomplish the investigate on talent management strategies that is
useful for attracting and retaining skilled employees within business for improve its
performance.
Did the project succeed in its aims? How do you know? Specifically, please outline any
evaluation and assessment undertaken.
Yes, by successfully attaining desired outcomes of the research.
What things do you think worked well and why? Evaluate all aspects of the project (e.g. initial
inception, project activities and project outcomes) from a range of perspectives.
Project activities was performed really well as I was able to complete all activities on time.
What problems emerged during the project and how were they tackled? Was there timely
identification of issues and resolution during the project process?
Lack of communication skills was the major issues and I have taken support from my senior
person to overcome this.
What did you learn from undertaking the project?
I learnt about different aspects of talent management.
How would you rate your performance as Project Manager?
9 out of 10
What strengths and weaknesses of your performance did you identify?
Time management is the major strength
Ineffective communication skills is weakness
Appendix 2: PROJECT LOG-BOOK
Student Name:
20

Project Title:
Update on weekly
research/tasks
achieved Points to
consider:
What have you
completed?
Did you fulfil task
requirements?
Are you on track and
within deadlines set?
Did you need to make
any changes to your
project management
plan?
I have determined the
topic of the research.
Take approval on the
research project topic
I have completed
research on the
investigation of talent
management
strategies that is
useful for attracting
and retaining skilled
employees with in
business in order to
improve its
performance.
Yes
Yes
No
Any risks and/or
issues identified?
Points to consider:
Did you identify
risks/issues with a
lack of skills required
for undertaking
research/tasks? Did
you identify any
additional risks/issues
that have an impact on
the project
management plan?
Difficulty in finding
right topic for
research project.
Lack of support form
team
Ineffective
communication is the
issues
Lack of financial
support
Lack of
communication with
team member
Insufficient funds
Problems encountered
Points to consider:
What barriers did you
Identified right and
accurate topic for
conducting project
Inappropriate
communication to
gather information. I
Increase
communication skills
and develop
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face? How did you
overcome them?
have taken support
form senior manager
relationship with team
members
New ideas and change
of project direction
I will use research
tools
I will use different
tools of
communication such
as mails, phone text
and so on.
I will focus on
creating relationship
for smooth
functioning.
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