Talent Management Strategies for SMEs: A Study on Aston Chemicals

This report discusses the importance of talent management in improving the performance and productivity of businesses. It includes a literature review on talent management, research methods with advantages and disadvantages, and a questionnaire on talent management strategies used by Aston Chemicals. The study aims to identify the strategies used by SMEs for retaining and managing talented employees at the workplace.

Unit 11- Questions
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Table of Contents
Introduction......................................................................................................................................3
Main body .......................................................................................................................................3
1. Literature Review on the area of “Talent Management” ............................................................3
2. Research methods with advantages and disadvantages...............................................................6
3. Conducting a Questionnaire ........................................................................................................8
4. Explaining how research methods have helped in achieving defined objectives......................11
5 Alternative methods that could have been used..........................................................................12
Conclusion.....................................................................................................................................12
References......................................................................................................................................13
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Introduction
Talent management is regarded as the process which is used for attracting, selecting and
developing retention opportunities within organisation (Meyers, 2020). This is the process which
is related with using such measuring workforce planning so that succession planning can be
rendered within organisation. This report is related with developing knowledge in respect of
talent management over the background of Aston chemicals which is an independent distributor
of speciality chemicals.
Main body
Research Aim:
To identify the strategies used by SME's for retaining and managing talented employees
at workplace: A study on Aston Chemicals
Research objectives
 To identify the conceptual framework of talent management
 To examine the strategies used by Aston Chemicals for retaining and managing
employees at work place
 To determine the benefits of talent management on Aston Chemicals
Research question
What is talent management and explain the strategy adopted by the Aston Chemicals in
managing the talent and the benefit the company get from it?
1. Literature Review on the area of “Talent Management”
What is talent management and explain the strategy adopted by the Aston Chemicals in
managing the talent and the benefit the company get from it?
According to Boštjančič and Slana, (2018), talent management is a procedure of
attracting, retaining and selecting the talented employees in organisation that can contribute their
best efforts in improving the performance and productivity of business. The process of talent
management includes planning, attracting, selecting, developing, retaining and transitioning.
Talent management mainly focus on improving the performance and decreasing the turnover rate
of employees within Aston Chemicals. It also allows company to be competitive and helps to
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form productive teams that can contribute their best efforts in improving the business
performance and profitability.
Aston Chemicals must implement talent management strategy in order to improve the
performance and efficiency of employees. There are various talent management strategies that
helps in enhancing the staff performance and productivity such as standardising talent review
and Onboarding process, increasing employee motivation, providing career development paths,
giving feedbacks and reviews and tracking the performance of staff. Through these strategies
company can attract and retain employees which also improves the productivity and profitability
of business (Vaiman and et. al., 2018). The talent management strategies which must be
implemented by Aston Chemicals are producing effective job descriptions that attract candidate
to come and give interview. The job description must include job title, skills required, reporting
lines, salary and benefits, overall duties and tools and equipment used. The talent manager of
Aston Chemicals must make sure to have cultural fit so that employees work in proper ethics and
values. It is important for talent manager to show their staff that they are valuable for company.
They must recognise and reward staff on the basis of their performance and achievements. It is
necessary to manage and motivate employees so that they can contribute their productive
outcomes in achieving the goals and objectives of business (Farndale, Morley and Valverde,
2019) . Talent manager must also give feedback to their employees in order to improve their
performance. The effective strategy of talent management includes coaching, collaborating and
evolving. Through constructive feedbacks, manager can improve the skills and knowledge of
employees (Anlesinya, Dartey-Baah and Amponsah-Tawiah, 2019)
Talent management helps in improving employee engagement and productivity as they
identify and nurture the skills of staff. They provide adequate training opportunities to employees
for building new skills and reskilling the workforce. Talent manager also allows multi skill
building through job rotation so that employees become competent and achieve their target with
dedication. Aston Chemical also gain benefit of client satisfaction through talent management
strategies (Paisey and Paisey, 2018). Talent management focuses on improving employee
experience which directly influences client satisfaction and higher ROI. They prepare staff to
achieve business strategic goals due to which the business performance and customer satisfaction
increases. The main motive of talent manager is to build team as per personalities. Talent
manager of Aston Chemicals must understand how people work and what motivates them to
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deliver productive outcomes (Kravariti and Johnston, 2020). It is important to have talent
management team as it helps in building stable workforce and also help in gaining business
profitability.
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2. Research methods with advantages and disadvantages
Research methods are defined as such set of techniques and processes which are utilised
by investigator for the purpose of accumulating and evaluating accumulated data (Daniel, 2018).
In respect of above research some of the research methodologies are described as under along
with various advantages and disadvantages:
Research Philosophy:
Research philosophy is defined as such principles and aspects that are used within
research for the major objective of developing research in appropriate manner. Research
philosophy is studied in terms of epistemology, ontology and axiology. As accordance to the
requirement of current research epistemology has be chosen by the researcher so that valid
information can be processed related with research topic (Pereira and et. al., 2021). Under
epistemology there are three types of research philosophies such as interpretivism, positivism
and realism. In the context of current research positivism research philosophy is used as this
philosophy is related with scientific judgement which helps in developing statistical data. On the
contrary this research is complex in nature in which intensified data cannot be obtained.
Research Approach: Research approach is regarded as such development aspects which can be
used by researcher in order to develop data collection measures and to acquire research
objectives in prominent manner. This would be helpful for the researcher as they can exert
decision making process which leads into attaining of research objectives. Research approach is
categorised into two types such as inductive and deductive. For this research the researcher has
chosen deductive approach as this relates the study to initiate from beginning of using some
theory and finishing using investigative aspects (Lê and et. al., 2019). On the other hand in
context of disadvantages deductive research approach doesn't contain divergent thinking which
limits overall creativity.
Research Choice: Research choice is related with such research methodology which is used so
that to develop research objectives in appropriate manner. There are various research choices
such as mono methods, mixed method and multi-mixed methods. For this research the researcher
has chosen mono method which is helpful in assisting the researcher in qualitative and
quantitative manner (Smyth, 2020). Under the current research quantitative research choices has
been used so that to acquire information in practical manner. The primal disadvantage of this
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research choice is that this is unable in providing in-depth information which may lead into
developing the research in unclear manner.
Research Strategy: Research strategies are such methods which are helpful in gathering data and
information which are aligned with research topic. There are various research strategies such as
survey, interviews, case study, focused group and many others. For this research, the researcher
has selected survey strategy so that information can be collected in reliable manner and at the
same time within shorter period objectives can be attained (Deb, Dey and Balas, 2019). One of
the major drawback of this strategy is that it is not flexible in nature which may create
controversial issues.
Data Collection: Data analysis is established as such methods which are used by the researcher
so that to develop authentic information related with research topic. There are two types of data
collection methods such as primary and secondary which would be helpful in developing
research in authentic and reliable manner. Both of these methods of data collection are used
within this research such as primary and secondary. Collection of primary information is time
taking which may lead into delays but at the same time these informations are highly reliable in
nature (Bertolini and et. al., 2018). On the other hand secondary data collection methods are
helpful in gaining in-depth information related with research topic but some times this is not
possible to gather accurate data using secondary sources.
Sampling: Sampling is categorised as such research methodology which helps in taking out a
sample out of overall population. There are two types of sampling such as probability and non
probability. Under this research, probability sampling is used as this provide equal opportunity to
the researcher in terms of getting selected which leads into minimising of chances of errors
within research (Mukherjee, 2019). Besides this the sampling method may not be accurate as
sometime sample may not represent the opinion of overall population.
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3. Conducting a Questionnaire
Q.1. Do you think that you have ample knowledge in respect of talent management?
a) Yes
b) No
Q.2. According to your perception what are the dimensions of talent management within Aston
chemicals?
a) Size of talent pool
b) Ease of entry within organisation
c) Support and performance management
Q.3. What are the basic talent management strategies used by Aston Chemicals in managing
talent within organisation?
a) Employee training tools
b) Standardised talent review
c) Increasing employee motivation
Q.4. What are the benefits seen by Aston chemicals by using talent management?
a) Higher employee retention
b) Higher employee productivity
c) Developing practices to manage employees
Q.5. As per your opinion does talent management helps the organisation to retain and manage
workforce?
a) Yes
b) No
Frequency distribution table
Q.1. Do you think that you have ample knowledge in respect of talent
management?
Frequency
a) Yes 15
b) No 5
Q.2. According to your perception what are the dimensions of talent
management within Aston chemicals?
Frequency
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a) Size of talent pool 8
b) Ease of entry within organisation 8
c) Support and performance management 4
Q.3. What are the basic talent management strategies used by Aston
Chemicals in managing talent within organisation?
Frequency
a) Employee training tools 6
b) Standardised talent review 10
c) Increasing employee motivation 4
Q.4. What are the benefits seen by Aston chemicals by using talent
management?
Frequency
a) Higher employee retention 8
b) Higher employee productivity 6
c) Developing practices to manage employees 6
Q.5. As per your opinion does talent management helps the organisation to
retain and manage workforce?
Frequency
a) Yes 17
b) No 3
Data analysis
Question 1: Knowledge in respect of talent management
Q.1. Do you think that you have ample knowledge in respect of talent
management?
Frequency
a) Yes 15
b) No 5
Interpretation: From the above graph this can be concluded that talent management is regarded
as one of the essential aspect which is used within business for the major purpose or attracting
and retaining talent. Out of 20 respondents 15 have said that they have ample knowledge related
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with talent management whereas 5 have said that they do not have ample knowledge related with
talent management. This is examined that talent management is one of the important measures
which is used within business for the purpose of attaining business objectives.
Question 2: Dimensions of talent management within Aston chemicals?
Q.2. According to your perception what are the dimensions of talent
management within Aston chemicals?
Frequency
a) Size of talent pool 8
b) Ease of entry within organisation 8
c) Support and performance management 4
Interpretation: From the above mentioned graph this can be analysed that talent management is
having various dimensions which are required to be used within business so that to develop the
business and to acquire workplace sustainability as well. Out of 20 respondent 8 have said that
the major dimension of talent management is related with size of talent pool. Besides this 8 have
said that ease of entry within organisation is the major dimension related with talent
management. At last 4 have said that support and performance management is the biggest
dimension within talent management. In this manner it can be said that talent management is
required to be used within organisation.
Question 3: Basic talent management strategies used by Aston Chemicals in managing
talent within organisation?
Q.3. What are the basic talent management strategies used by Aston
Chemicals in managing talent within organisation?
Frequency
a) Employee training tools 6
b) Standardised talent review 10
c) Increasing employee motivation 4
Interpretation: From the above graphical representation it can be concluded that there are
various strategies that can be used within business in order to develop business in appropriate
manner. Out of 20 respondents, 6 have said that the major strategy of talent management is
related with employee training tools. On the other hand 10 have said that standardised talent
review is the major talent management strategy which can be used by Aston chemicals in order
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to manage their employees. At last 4 have said that increasing employee motivation is the
prominent talent management strategy used by the organisation for the purpose of managing
talent at workplace.
Question 4: Benefits seen by Aston chemicals by using talent management?
Q.4. What are the benefits seen by Aston chemicals by using talent
management?
Frequency
a) Higher employee retention 8
b) Higher employee productivity 6
c) Developing practices to manage employees 6
Interpretation: From the above graphical demonstration this can be summarised that for an
organisation there are various benefits which can be attained by them during managing talent and
using strategies of talent management. Out of 20 respondents, 8 have said that the major benefit
of talent management is related with increasing rate of employee retention so that their skills can
be used within business for longer period of time. On the other hand 6 have said that with the
help of talent management Aston chemicals can improve overall productivity of employees. At
last 6 have said that developing practices for managing employees are the major benefit attained
by the organisation.
Question 5: Talent management helps the organisation to retain and manage workforce
Q.5. As per your opinion does talent management helps the organisation to
retain and manage workforce?
Frequency
a) Yes 17
b) No 3
Interpretation: From the above graph this can be concluded that talent management is one of
the essential concept which can be used within business for attaining aims and objectives. Out of
20 respondents, 17 have said that talent management helps the organisation to retain and manage
workforce whereas 3 have said that these strategies are not helping the organisation to retain and
manage workforce.
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4. Explaining how research methods have helped in achieving defined
objectives
From the above research this can be summarised that research methods are used within
research in order to develop aims and objectives within research. Primary data collection
methods are useful in gathering reliable and accurate information associated with research topic.
Secondary data collection methods has helped within research in gathering in-depth information
which are aligned with developing objectives within research. With the help of deductive
research approach objectives within research are framed with higher degree of validity and
reliability (Cross Walker, 2020). The sampling method has executed significant role in the
research as this provided numerical information related with research topic so that in timely
manner objectives within research can be attained. At last the survey strategy lead into gathering
quantitative information related with research in the manner of acquiring research objectives.
5 Alternative methods that could have been used
In the present research the investigator has used quantitative research methods which are
helpful in gathering information in statistical manner. Researcher could have developed this
research in qualitative manner in which interview method could be used. This would be helpful
in gathering in-depth information related with research and at the same time in theoretical
manner.
Conclusion
From the above acquired information this can be concluded that talent management is
associated with using of such concepts in the business which leads in attaining and retaining of
top talent. Within this research, primary and secondary data collection methods which helped the
research to attain its aims and objectives.
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References
Books and Journals
Anlesinya, A., Dartey-Baah, K. and Amponsah-Tawiah, K., 2019. A review of empirical
research on global talent management. FIIB Business Review, 8(2), pp.147-160.
Bertolini and et. al., 2018. The comparative qualitative research methodology of the EXCEPT
project.
Boštjančič, E. and Slana, Z., 2018. The role of talent management comparing medium-sized and
large companies–major challenges in attracting and retaining talented
employees. Frontiers in psychology, 9, p.1750.
Cross Walker, T., 2020. Inclusive talent management in the public sector: theory and
practice. Transnational Corporations Review, 12(2), pp.140-148.
Daniel, B.K., 2018. Contestable professional academic identity of those who teach research
methodology. International Journal of Research & Method in Education, 41(5), pp.548-
561.
Deb, D., Dey, R. and Balas, V.E., 2019. Engineering research methodology: a practical insight
for researchers. Springer.
Farndale, E., Morley, M.J. and Valverde, M., 2019. Talent management: Quo vadis?.
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.
Lê and et. al., 2019. Why research methodology in strategy and management remains as
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Meyers, M.C., 2020. The neglected role of talent proactivity: Integrating proactive behavior into
talent-management theorizing. Human Resource Management Review, 30(2), p.100703.
Mukherjee, S.P., 2019. A guide to research methodology: An overview of research problems,
tasks and methods.
Paisey, C. and Paisey, N.J., 2018. Talent management in academia: the effect of discipline and
context on recruitment. Studies in Higher Education, 43(7), pp.1196-1214.
Pereira and et. al., 2021. Pereira problem solving: Business research methodology to explore
open innovation. Journal of Open Innovation: Technology, Market, and
Complexity, 7(1), p.84.
Smyth, J., 2020. Critical social science as a research methodology in universities in times of
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Vaiman and et. al., 2018. Macro talent management in emerging and emergent markets: A global
perspective. Routledge.
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