Talent Management Strategies for ASOS: A Case Study
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The report aims to provide understanding about talent management strategies. It examines the concept of talent management and its strategies for organisation success, demonstrates issues and hurdles in managing and retaining talent employees, and analyses effective talent management strategies for ASOS.
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UNIT 6 FINAL SUBMISSION FOLLOWING ARE THE ATTACHMENTS FOR FINAL SUBMISSIONS: Table of Contents LO1:.......................................................................................................................................................1 Introduction of THE TASK..................................................................................................................1 P1DESIGN 1 RESEARCH AIM..................................................................................................................2 P2: 1 – Project planning.....................................................................................................................2 P3: TIME FRAME....................................................................................................................................3 DATA COLLECTION (PRIMARY AND SECONDARY DATA)........................................................................6 LO3 (P5,P6)............................................................................................................................................7 RESEARCH ANALYSES WITH COMMUNICATING THE OUTCOME.......................................................7 RECOMMENDATION/SUGGESTIONS:..................................................................................................12 LO4:P7 Reflection...............................................................................................................................12 Performance review............................................................................................................................14 Project Logbook...................................................................................................................................15 ANSWERS: LO1: Introduction of THE TASK Thereportaimstoprovideunderstandingabouttalentmanagement strategies. It is a concept which focus on retaining and make development of talented employees within organisation (Talpoş, Pop, Văduva, and Kovács,2017).
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Thisreportwillcarryoutalltheprojectplanning,methodologies,primaryand secondary research to reach and complete the aims of report. At last, there will be a reflection which shows how all the activities performed. Research objectives Toexaminetheconceptoftalentmanagementanditsstrategiesfor organisation success. Todemonstrateissuesandhurdlesinmanagingandretainingtalent employees. To analyse effective talent management strategies for ASOS. Research questions: What Is the area of talent management and the importance of its strategies? What are the issues and challenges faced by organisation in relation to sustain employees. What are the required strategies for talent retention in Asos. P1DESIGN 1 RESEARCH AIM What talent strategies do the best companies use to attract and retain people? A case study on ASOS. P2:1 – Project planning project planning is a document presentation which consist all the activities and areas in which research has planned (Munasinghe, and De Alwis, 2017). It outlines all the activities which are necessary to fulfil aims of research. Scope:It involves all the informations and areas which needs to be cover by the researcher. Scope defines as the necessary information which is required to achieve the aims such as deadlines, activities and goals, budgets and plans. Milestones: Major events or phases in the project This element of project management involves all the events which takes place while carrying out research. This research will undertake primary and secondary data findings interpretation, questionnaires in order to identify about the best talent management strategies.
Initiation, planning and execution: Details of activities to be carried in the project Initiation:it is the foremost stage of project planning. In this the researcher comes along with various ideas and thoughts about the relevant research topic. The idea must be applicable in all fields and support an effective theory and aims. This research willidentify the talent management strategies which will be suitable for Asos to retain and attract employees. Planning:Theplansmustinvolvealltheactivitiesandtaskwhichare required to complete project objectives (Sanyal, and Haddock-Millar, 2021). Planning must be done in effective manner in which all the resources, costs and tasks are identified. Execution:once all the plans get made, the researcher needs to execute it as per setobjectives andtargets. Theremust beproper controlfollowedby researcher to look at achieving project aims and objectives. P3: TIME FRAME: TOPIC 1 : RESEARCH TITLEAND RES AIM3 WEEKS (1-3) TOPIC 2: RES OBJV, BACK GRD, LIMITATION 2 WEEKS (2-3) TOPIC 3: LIT REV 2 WEEKS (3-4) TOPIC 4: METHODOLOGY 3 WEEKS (7-11) TOPIC 5 : RES ANALYSES 4 WEEKS (10-12) TOPIC 6: REPORT WRITING WITH FINDINGS AND RECC…. (3 WEEKS)(12-15) Gantt chart: Work break down structure using to track the activities to be undertaken Gantt chart is an important tool which helps in delivering work activities by setting specific time frames. It shows the start and end dates and time to complete all the necessary task (Rajabipoor Meybodi,and Mohammadi, 2020). It is a graphical representation which helps the researcher to manage important tasks on priority and it makes assure that all the task must be fulfil in well manner. Work breakdown structure:
it is also an effective tool which helps in divide of work in smaller way. It simplify the activities which reduce work complexities (Evans,Smale,and Björkman 2018).Therefore,thisresearchissupportedwithalltheresearchtaskina systematic manner.
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RESEARCH PHILOSOPHY: THEORY ON RESEARCH REALISM: This philosophy is based on the method which has chosen for conducting the research. That is such must be suitable as body subject matter and qualitative and quantitative data. OBJECTIVISM:This philosophy requires a particular objective to carry older research. INTERPRETIVISM:This philosophy is based on theoretical data which does not involve scientific study or numerical facts. PRAGMATISM:This philosophy is based on both the methods of research that is qualitative and quantitative. CASE STUDY: The research will be based on a case study in which the beliefs and values will be find out within it ………………………………………………………………………………………………………………………………………………… RESEARCH APPROACH: DEDUCTIVE, INDUCTIVE APPROACH DEDUCTIVE:Deductive researchapproach explores a known theory or phenomenon and tests if that theory is valid in given circumstances,Deductive reasoning, also deductive logic, is the process of reasoning from one or more statements to reach a logical conclusion. INDUCTIVE:involves the search for pattern from observation and the development of explanations – theories – for those patterns through series of hypotheses This research is based on inductive research which does not require any hypothesis and require collecting data from individual’s perspective.
DATA COLLECTION (PRIMARY AND SECONDARY DATA) Research Methods Quantitative research method- as per this research method, the researcher find and gather data through statically areas(Chang, and Werther,2021). it gives relevant and accurate information. Qualitative research method- this method helps in gathering data through theoretical perspective. The resource are used such as books, journals, literature review, interviews. It gives open ended communication. Primary method of data collection- primary data is a part of quantitative researchmethod.Itconductsthroughdevelopingquestionnairesandsurveys (Morukhu, Mapanga, and Mokgojwa, 2021). This method takes much time and cost which is also used in this report. Secondary method of data collection-this method of research is a part of qualitative research method. It involves research through using internet, books an d journals. It is quite flexible way of doing research (Chowdhury, 2020). The main disadvantage of this method is that the information is not assured of relevancy. This research is based on both primary and secondary research method which has performed through questionnaire and literature review. Ethical issues: Research ethics are important for a number of reasons. They promote the aims of research, such as expanding knowledge. They support the values required for collaborative work, such as mutual respect and fairness. This is essential because scientific research depends on collaboration between researchers and groups. They mean that researchers can be held accountable for their actions. Many researchers are supported by public money, and regulations on conflicts of interest, misconduct, and research involving humans or animals are necessary to ensure that money is spent appropriately. They ensure that the public can trust research. For people to support and fund research, they have to be confident in it. They support important social and moral values, such as the principle of doing no harm to others
LO3 (P5,P6) RESEARCH ANALYSES WITH COMMUNICATING THE OUTCOME QUANTITATIVE ANALYSES: Theme 1: awareness about talent management Q1. are you aware about why talent management is required in organisation? Frequency Yes40.00% No60.00% 0.00% 60.00% 30.00% Frequency Frequency Interpretation- it has interpreted that 40% of employees of asos are known about talent management whereas, 60% are still unaware about this fact. These employees are not actively interested in companies functioning and policies. Theme 2:Why talent management strategies are needed in Asos plc? Q2. Why talent management strategies are needed in Asos plc? Frequency (a) To retain and sustain employees for long term.60.00%
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(b) To reduce Employee turnover ratio40.00% a) Regular appreciation, appraisals and share in profits. b) providing career opportunities and training programmes. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% Frequency Frequency Interpretation- It has identified that 60% employees gives vote for retain and sustain of employees through using talent management strategies. Other 40% have agreed with reduce employees turnover ratio. Theme 3:main issues and hurdles which stop companies growth in managing talent? Q3. what are the main issues and hurdles which stop companies growth in managing talent? Frequency a) poor performance check70.00%
b) Ineffective work place activities30.00% a) Regular appreciation, appraisals and share in profits. b) providing career opportunities and training programmes. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% Frequency Frequency Interpretation- 70% people are in favour of focusing or performance check of employees which becomes an issue for the company. Others are with ineffective work place activities which also impact on employees separation. Theme 4:best strategies used by Asos plc in order to attract new employees and retain the existing ones? Q4.What could be the best strategies used by Asos plc in order to attract new employees and retain the existing Frequency
ones? a) Regular appreciation, appraisals and share in profits.25.00% b) providing career opportunities and training programmes.75.00% a) Regular appreciation, appraisals and share in profits. b) providing career opportunities and training programmes. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% Frequency Frequency Interpretation-it has observed that appreciation, appraisal are also important strategies as per 25% people. Apart from this, providing effective training career opportunities will be more effective. DEMOGRAPHIC: Section A demographic data PLEASE READ THE FOLLOWING AND KINDLY TICK THE BOXES(TICK SIGN) NAME:………………………..(OPTIONAL) AGE:
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25-30BOX 30-35BOX 35-40BOX >40BOX 3. GENDER: MALE BOX FEMALE BOX 4.EDUCATION: ……….. BOX …………. BOX ………… BOX 5.INCOME No income ( ) $15000- $25000 ( ) $26000- $40000 ( ) 6. JOB STATUS: Secondary eduction () Higher education ( ) post graduation ( ) PLEASE READ THE FOLLOWING AND KINDLY TICK THE BOXES(TICK SIGN) Section C What are the benefits of talent management strategies? Talent management strategies are beneficial for the organisation. It will help in keeping employees satisfied, motivated and stick to their goals. It is beneficial for hiring best suitable candidates which will fulfil organisation requirement. It leads to carry out recruitment and selection. Where the talent management strategies will be applicable? Talent management strategy are mainly applicable in HR department to take decision for training and compensation. QUALITATIVE ANALYSIS Literature Review according to the (Breaugh, 2021) talent management is one of the crucial practices which needs to be performed by very organisation. The strategies must involve and consider the employee retention and how could organisation attract new talent employees. They are the only doer of company and their efforts will make them win in competitive market. Therefore, strategies like employees performance check,
appreciation and rewards, maintaining positive workplace and encourage career opportunities are play important role in managing talent. RECOMMENDATION/SUGGESTIONS: There is need to perform best job interviews and hiring process in order to fulfil vacant position in Asos. The candidates must be hire as per their knowledge and capability and must have ability to cope in digital environment. LO4:P7Reflection By being a part of this research, I have identified that talent management is an important concept which is necessary for every individual while working in a company. I agree that every organisation must implement effective strategies for welfare of employees.
APPENDICES: Talpoş, M.F., Pop, I.G., Văduva, S. and Kovács, L.A., 2017. Talent management and the quest for effective succession management in the knowledge-based economy. Inbusiness ethics and leadership from an Eastern European, transdisciplinary Context(pp. 65-73). Springer, Cham. Munasinghe, M.H.L.H. and De Alwis, C., 2017. The impact of talent management on organizational performance: a study of organizations in apparel industry in Sri Lanka. Sanyal, C. and Haddock-Millar, J., 2021. Talent Management and Developing Leadership Talent. InThe Routledge Companion to Talent Management(pp. 483-498). Routledge. Morukhu, D., Mapanga, A. and Mokgojwa, D., 2021. The Role of Leadership in Higher Education Institutions Talent Management Processes.Gender and Behaviour,19(2), pp.17827-17835. Breaugh, J.A., 2021. Talent Acquisition: A Critical First Step for Effective Talent Management.The Routledge Companion to Talent Management, pp.445- 456. Chowdhury, S., 2020. Talent Management and Its Implications on Firm’s Productivity. Chang, C. and Werther, S., 2021. Talent Management Innovations in the Hospitality Industry: Insights from the Winners of the Hospitality HR Award. InTalent Management Innovations in the International Hospitality Industry. Emerald Publishing Limited. Evans, P., Smale, A. and Björkman, I., 2018. Macro Talent Management in Finland: contributing to a rapidly evolving knowledge economy.Macro talent management: a global perspective on managing talent in developed markets. Rajabipoor Meybodi, A. and Mohammadi, M., 2020. Designing an Integrated Model of Talent Management through Thematic Analysis.Journal of Human Resource Studies,10(3), pp.79-104.
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Performance review Performance Review What did you aim to achieve through your work? I aimed to analyse the importance of talent management strategies to retain and attract talent in organisation. Did your work succeed in achieving your aims? How do you know? Specifically, please outline any evaluation and assessment undertaken. Yes, I have succeed in achieving aims of project. It has ascertained by doing both primary and secondary research in which shown that talent management is effective for employees and organisation. What aspects of your development process do you think worked well and why? Evaluate all aspects of the project (e.g. initial research, concept development, development process, presentation, etc.) from a range of perspectives. My work allocation strategies such as using Gantt chart, work breakdown structure, analysing milestones are the best part in my development. What problems emerged during the project and how were they tackled? Was there timely identification of issues and resolution during the project process? The problems came about communication and time management skills which impacted and created issue In talking to others. These issues resolved through using my good interpersonal skills.
What did you learn from undertaking the project? I learned that research skills are must to analyse and observe key areas in order to complete projects. What are the strengths and weaknesses of your process that you have identified? Strength: good time management. weakness: communication skills. How could your process improve for the future? I will improvise these skills through improving my vocabulary and participate in interacting with people. Project Logbook Project Logbook Name: Project title: Date: Update on period of development Points to consider:What have you completed in this period? Did you complete the work that you had planned? Are you on track and within deadlines set? Did you need to make any changes to your project plan? In the period of project development, I completed the project on understanding about talent management strategies. I have competed all task within set deadlines. No, I do not require to make any changes.
Risks and/or issues identified Points to consider:Did you identify risks/issues related to a lack of knowledge or skill required to undertake the work you had planned? Did you identify any additional risks/issues that have an impact on your project plan? Yes, I have find issues in project completion due to lack of communication skills. Also, there comes an issue in time management as there were various task but minimum time limit. Problems encountered Points to consider: What challenges did you face? How did you overcome them? I have faced challenges in identifying relevant data sets. I overcome them by assessing appropriate research and preparing notes to write each important information. New ideas and change of project direction Points to consider:In developing work, addressing risks/issues, has the direction of your work changed? How does your work justify the change of direction? Is this clear? Do you feel this
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change of direction has enhanced your work? How? No, I did not find any changes direction for my work. As I planned all the activities prior the work execution which helped in completing research successfully. What have you learned about yourself through your work? Points to consider:What are the most important things that your work has revealed to you? How might this learning apply in the future? How did you feel when you had to deal with challenges/problems? How well do you feel you have you performed? What can you improve? The important thing I learned that about the need of talent management for both employees and organisation. I Wil apply this learning in managing workforce as I am to be an HR manager in reputed firm. Next steps for your work Points to consider:What aspects of your work should you prioritise? Have you allowed sufficient time for completion? I have prioritise primary and secondary research. I have given sufficient time for it. Project plan status to date Points to consider:Do you feel you are on track to complete your work on time? If not, how will you address this? Do you feel your work shows your achievement of the Learning Outcomes? If not, what do you need to do?
Yes, I felt that I was on right tract as I consider relevancy and accuracy of data and took consent of the employees by conducting primary research. Tutor Feedback Week No.Date Identified Update on weekly research (including new ideas or change in project direction) 1 28/9/21 How to write research introduction 2 5/10/21 Research aims and objective 3 12/10/21 Project planning 419/10/21Project execution 5 26/10/21 How to prepare Gantt chart 61/11/21How to make work break down structure
Week No.Date Identified Update on weekly research (including new ideas or change in project direction) 78/11/21How to write Research methodologies 8 15/11/21 Lecture on different research methods 9 23/11/21 Analysing quantitative and qualitative methods 10 1/12/21 What are primary and secondary research 119/12/21Conduct primary research 1217/12/21Conduct secondary research 1326/12/21Prepare questionnaire. 145/1/22How to write literature review 1513/1/22Presentation and findings.