Identifying the Best Talent Management Strategy for Employee Retention

This report discusses the importance of talent management in attracting and retaining skilled employees. It includes a project management plan, research methodologies, types of talent management initiatives, and areas of good practice. The findings suggest that talent management plays a vital role in organizational performance.

Unit 6

TABLE OF CONTENTS
TOPIC: TO IDENTIFY THE BEST TALENT MANAGEMENT STRATEGY TO ATTRACT
AND RETAIN EMPLOYEES........................................................................................................3
INTRODUCTION...........................................................................................................................3
Background of the study..............................................................................................................3
Aim and objectives......................................................................................................................3
Project management plan.............................................................................................................3
Milestone and major events of project.........................................................................................5
Work breakdown structure and Gantt chart.................................................................................5
Research methodologies..............................................................................................................6
Types of talent management initiatives in various organization.................................................7
The value and benefits of talent management.............................................................................8
Areas of good practice in TM......................................................................................................9
Findings.....................................................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
APPENDIX 1.................................................................................................................................14
Performance review report........................................................................................................14
APPENDIX 2.................................................................................................................................16
Project log book.........................................................................................................................16

TOPIC: TO IDENTIFY THE BEST TALENT MANAGEMENT STRATEGY
TO ATTRACT AND RETAIN EMPLOYEES
INTRODUCTION
Talent management is all about making employees feel motivated and happy with their job
roles and their retention. For organizational performance, it is important for companies to attract
candidates and select skilled employees out of them. When employees are being managed in an
effective manner and when their needs are being satisfied then they help companies in taking
competitive advantages, improving productivity and sales as well.
Background of the study
Talent management is a process that starts with identify and selection of employees and
ends to retention of skilled employees within business and making them feel valued. This present
project is based on Sainsbury, second largest chain of supermarkets in the UK. It is facing
intense competition in the market so, it wants to attract as well as retain skilled employees within
business. This project will discuss relationship of motivation, rewards with employees’ retention.
it will further discuss research methodology along with effectiveness of project management
plan. It will also show talent management strategies of other retailers in order to suggest to
Sainsbury’s about the best strategy for retaining employees.
Aim and objectives
Aim: The aim behind conducting this project is: “To select an effective strategy of
attracting and retaining employees within business”. Study on Sainsbury’s
Objectives
 To discuss stages of talent management.
 To identify association of motivation with retention of employees.
 To discuss impacts of staff turnover and poor talent management on organizational
performance.
 To recommend the best talent management strategy for increasing staff retention rate.
Project management plan
A project management plan refers a formal document that defines ways and elements required
for completing project in an effective manner. By estimating all elements of project management
or by preparing this plan, project manager can keep its project on track.

Scope: Talent management has vast scope as it can help companies of all sectors in
retaining their employees and increasing performance. Employees are considered as one of the
most important resource of the company and when they are being treated in an effective manner
then it decreases staff turnover rate. So, as with the name itself it can be said that it has vast
scope and can be applicable in all companies.
Cost: For completing project in an effective manner and protecting project manager
against failure of project due to over costing and lack of financial resources, they need to
estimate cost. For completing project on talent management, project manager needs to invest in
research and development, questionnaire, survey, software application, internet charges and
others. Estimation of cost for completing this project on knowing the best strategy of talent
management will be:
Time: Completing project on time is also important as it improves image of project
manager and helps them out in developing same types of projects in the future in a timely and
effective manner. There are numbers of steps that need to be followed such as: development of
aim and objectives, defining scope, make all financial resources available, secondary research
and others so, it will take approximate 25-30 days
Quality: Quality shows standard of something that can be measured against other similar
things in order to know their excellence. Maintaining quality of projects is important as it is the
main thing that attract viewers and make project successful. There are numbers of tools and
software that can be used for improving quality of project and for this study, project manager
will make use of total quality management and critical thematic evaluation of collected data and
selection of accurate as well as reliable secondary sources.
Resources: For competing any kind of project, project manager requires some resources.
As in this study, project manager wants to know about the best strategy by which companies can
retain as well as attract skilled employees so, for this study, he will make use of laptop,
stationery, financial resources, technological resources like internet, human resources and others.
Communication: For completing project in a successful manner, project managers hire
some human resources and all these resources are known as stakeholders. It is important for
project manager to make them know about project as what is it about and what is the vision and
for that project managers need to make use of appropriate medium of resources. For this project,
telephone, mobile phone, E-mail will be used.

Risk: Managing projects is not an easy task as there are numbers of changes that may
occur in business environmental factors. For example: Changes in political factors, economic
condition, social factors and others. Changes in these factors may affect overall performance and
completion of project. Some risks that may occur in completing this project include: lack of
financial resource, changes in environmental factors, staff turnover and others.
Milestone and major events of project
As it is already stated that completing or managing projects is not an easy task as project
managers need to perform numbers of activities. Completing project in a timely manner is
important and it can be done when project manager set milestone and prioritise important tasks.
By setting milestones and important tasks, project managers can accomplish goals and complete
project with effectiveness. Some milestones of this project include:
Development of aim and objectives
Production of project management plan
Data collection
Data analysis
In regard to aim and objective, it can be said that it is one of the main activities that need to be
followed or performed because without developing aim and objective, project cannot be started.
Aim and objectives are considered as motivators. After that, project manager needs to produce
management plan in which he has to estimate cost, time of completion of project and
communicational modes for interacting with stakeholders.
Work breakdown structure and Gantt chart
Task Name Duration Start Finish
Topic selection 1 day Thu 8/26/21 Thu 8/26/21
Development of aim and
objectives 2 days Fri 8/27/21 Mon 8/30/21
Production of project
management plan 4 days Tue 8/31/21 Fri 9/3/21
Research methodology 5 days Mon 9/6/21 Fri 9/10/21
Collection of secondary
data 7 days Mon 9/13/21 Tue 9/21/21
Analysis of collected data 6 days Wed 9/22/21 Wed 9/29/21
Conclusion 1 day Thu 9/30/21 Thu 9/30/21

Figure 1: Gantt Chart
Figure 2: Network Diagram
Research methodologies
Research types
Research can be defined as study regarding a specific problems and concern while by
using various scientific methods. Basically there are two types of research such as Quantitative
and Qualitative research. Quantitative research. In this scholar have used Quantitative research
for working with more having various authors views.
Research approaches

In this research approaches, interdisciplinary field including planning, research may be
conducted in various number ways that could help them in making about scholar (Tlaiss, 2020).
Research approaches are basically of two types such as Inductive and deductive approaches. In
this deductive approaches have been used and make more theories with relevant concepts.
Research philosophy
Research philosophy have a great level for expected for having depth and devoted their
research and make the discussion more relevant. It had been conducted with Positivism research
with highly various authors views and keeping collection of data.
Data collection
Data collection is one of the important elements of research methodology. It is not
possible to conduct research without performing this step. In this research secondary sources of
data have been collected with books and journals.
Data analysis
For making research study effective, scholar requires performing this function just after
data collection (McDonnell and Wiblen, 2020). After collecting data, there is requirement of
making collected data authenticate otherwise it can affect image of researcher and study. With
thematic analysis in secondary research.
Reliability and validity
Any type of communication in relation for their research and aims or objective are being
more reliable and report are being more important through which they can easily make their
report more ethics and knowledgeable.
Types of talent management initiatives in various organization
Talent management is the practices which evolved the performance of the employee that
could led them for working with high estimation and keeping their more working process. As
well in Wilko talent management are to be required with having the proper working with hyper-
change environment and that could measure many effective manner. While having such things
this could be easier led them for working with high profile and make sure about many more
things in organization (Mikuła, 2020). HR plays the crucial role in talent management and that
could department keep the messages about the employee relation and about their performance.
As in organization tm seems to be important while this could help the for knowing about how

usually they are dealing and come to know about how they can completion about their better
segments.
Let's talk about Tesco in which basically hr use some of the strategy for keeping their
employee with high performing employee. Along with they also keep their employee relation
maintain through which they can easily come to know about how they can work and make their
business. This could sometime also led them for working with various motivation scheme and
make sure for having high effective manner (Vilčiauskaitė, Savanevičienė and Navickas, 2020).
It helps the business performance and also allow companies to stay more competitive. Moreover,
bring out more innovation and try to keep the productive team while for working with many
activities performance. TM in organization also make sure for keeping the reducing over
turnover so that could save many effective resources in organization.
The value and benefits of talent management
TM permits organizations to resolve purposeful and predictable choices about progress of
staff, which ensures workers' ability and development. Moreover, workers will feel more
connected with when there logical strategy for events, which helps expanding standards for
dependability that helps organizations in congregation their functional basics. TM assists
representatives with feeling drew in spurred, permitting them to work toward the organization's
production objectives, expands customer completion and business execution (Manolescu and
et.al., 2020). An efficient with talent management implies that there hierarchical joining and
reliable way to deal with board. At the point when frameworks are more coordinated, client
execution rates typically higher, since they are managing less individuals and their necessities are
met more quickly.
As undertaking requests change now asset imperfect to satisfy specially appointed
necessities can be irresistible. Asset the board appliance gives total deceivability into asset
profiles and catches subtlety like insight, capabilities, cost and accessibility. Workers can
approve abilities and capability every once while by their director prior to refreshing them
framework (Cooke, Schuler and Varma, 2020). Various associations can keep an ability stock
geared up for current and future undertakings. It assists association with recognize correct
individual for sensible venture opening at ideal chance and cost. Likewise, assigning assets
allowing for their abilities and interests them remain useful and guarantee opportune transport of
ventures. Progression arranging is basic course of ability board that makes heavy initiative and

other basic jobs business develops or creates. During business extension or executives turnover,
progression arranging guarantee that efficiency and agent resolve isn't influenced.
Areas of good practice in TM
TM should keep their main focus towards the motivation through which they can easily
developed those activities which could keep them for working with high skills. Along with this
also led them for knowing about those activities which could led for improving those further
process and come to know about how they can deal over any situation (Church and Waclawski,
2020). While having such things this could keep them for rewards such as bonuses, promotion,
incentive and so on. That while keep them for reaching out many more resources for completion
of goals and objective on given time periods. This could also keep them attraction towards hiring
and helping their employee for keeping and make their working with motivation.
While this could be more easier for working with many more effective places and might
be helpful in employee relation. Training and development might be important for taking their
many measures and keeping their skills to be well-developed. While such things can easily
ensure about their activities and completion over their high goals and objective (Delina, 2020). A
workforce planning and management tools that completing visibility towards highly resources
and keeping them with more process. As organization need to work more for keeping their
resources with more motivation and effective things.

Findings
From the above report it has been analysed that talent management plays a vital role in
the organization and in the overall performance of the company (Alsuwaidi and et.al
2020).Talent management is helpful in improving the overall skills of employee and keep them
motivated so that they can produce quality work in the organization. So from the above report it
has been seen that, different organization use various talent management strategies which help
them to create their own goals and help the company to follow all the strategies and standard so
the organization can attain all the pre determined objectives and goals which they are looking
for. Besides this one of the major importance of talent management with in any company is that
they easily attract the best talent towards the company. When the organization do not get
talented employees they can attain their objective so it is in the hands of talent management that
they must hire those candidates who have all the necessary skills, qualification and talent. So in
future company can use their talent and skills to generate high profitability and goodwill. AS it
is the main motive of every organization that they achieve high profitability and get good
competitive advantage in they market. The main motive of talent management is that they make
their employees brand, which turn all the strategies of the company into the best suitable
outcome.
Besides this, talent management is responsible for getting the best performance from
employees so that they can use them to generate better revenue. Apart from this, talent
management just not focuses on the employee performance, but they also thing about the overall
performance of they organization and it is their responsibility that they make employed remain
engaged at work so that they can provide customer satisfaction and sort out all the queries of
customers (Dahlan and et.al 2020). This will increase the reputation and goodwill of the
company in the market. For these reasons' talent management is one of the important strategy
which is being used by every organization so that they can easily attain all the milestones and
become tou8gh competition for other companies. Moreover, from the above report it has also
recognized that they build high performance culture in the organization. It is beneficial for the
employee and for the organization as well, when organization will develop high performance
culture then every employee will try to give their best so that they get promotional offers from
the company. Besides this, it also helps the organization to enter into those market in which they

are not present earlier. This will help the company to increase their market share so that they can
provide better products and quality services to their customers.
In the entire report there are many companies and their examples have been used such as
— Tesco, Wilko etc. uses various talent management approaches so that they can get good
outcome from their employee as the key objective of these companies to provide excellent
services to their customers and sort out their each and every query (Damarasri and et.al 2020)..
For this they need highly talented employees who can understand the issues and problems of
their employees. As the main objective of talent management is to retain the best talent in the
company. Besides this, talent management is always remained ready to solve queries of
employees because employees are the valuable asset of the organization and in the absence of
talented employees' organization can't go beyond in the future.
From the above report it has been recognized that Tesco and other company uses
motivation technique to boost the morale of their employees. So most of the company is using
this technique so the employees remain motivated at the workplace, and they also get various
promotional offers and incentive which increases their morale. This is one of the convenient way
to make the employees motivated and this will boost the confidence because when employee gets
some appreciation from the management it automatically boosts their motivation.
In these companies' talent management tries to improve the skills and knowledge of their
employees by giving them small task and measurable goals so that they focus of learning new
things, and they will put their all efforts so that they may complete the given task in given
deadlines. Besides this, to give motivation to employees, talent manager give various incentive,
bonus and perks which will increase the motivation of employee so in upcoming task they will
perform more to get the rewards and appreciation. So these small task help the employees to
generate better return and productive work.
Sainsbury and its management always believe that employees should remain positive
because positivity will bring them new motivation and this will provide better culture at the
workplace as it gives competitive advantage so employee get many opportunities to grow at the
workplace (Hermawati, 2020). Along with this, company also focuses on onboarding and
retention program so that they may hire talented and skilled employees. Besides this, Sainsbury
also uses motivation behavioural theory which focuses on giving incentives and reinforcement to
their employees Just a reward can appreciation can encourage employees to work hard, and they

may grow in the future and this will going to benefit the organization. It is one of the best
technique to boost the productivity of their employees.
But in some companies employees get internal motivation and it is one of the best
motivation because employees put their best without their management. So the talent
management of the company focuses on hiring such employees who are internally motivated so
that management do not have to spent lot of money on giving them training and other benefits.
But most of the big companies provide external motivation so that employees remain positive at
the work place and it also reduces the situation of conflict because employees always try to give
their best. Motivation can increase the morale of employees because motivation is emotion
which can affect the peers, and they remain focused towards goals.
CONCLUSION
From the above study it has been summarised that talent management plays a vital role in
improving performance of company and making them competitive. It has discussed different
strategies that different companies use for attracting as well as retaining their employees such as
motivation to them by rewards and recognition, external recruitment strategy or campus
recruitment, flexibility in working hours and others. It has further shown all factors of project
management plan that needs to be considered in order to make projects successful. Estimation of
cost, resources required, time and others play a vital role as it helps in completing project in a
timely and cost effective manner. Lastly, it has suggested the best strategy by which retailers can
attract talented employees and can retain them within business for the long run in order to
improve performance and productivity.

REFERENCES
Books and journals
Alsuwaidi, M., Alshurideh, M., Al Kurdi, B. and Salloum, S.A., 2020, October. Performance
appraisal on employees’ motivation: a comprehensive analysis. In International
Conference on Advanced Intelligent Systems and Informatics (pp. 681-693). Springer,
Cham.
Bardy, R. and et.al., 2021. Public Goods, Sustainable Development and the Contribution of
Business. Cambridge Scholars Publishing.
Church, A.H. and Waclawski, J., 2020. Rediscovering the Art of Surveys for Organization
Change. Employee surveys and sensing: Challenges and opportunities. p.357.
Cooke, F.L., Schuler, R. and Varma, A., 2020. Human resource management research and
practice in Asia: Past, present and future. Human Resource Management Review. 30(4).
p.100778.
Dahlan, D., Bobi, R. and Sangadji, S.S., 2020. The Work Motivation Effect of Meter Recording
Employees In Drinking Water Company At Tidore City. Indonesian Journal of
Agribusiness Management and Economic Sciences.1(1). pp.10-14.
Damarasri, B.N. and Ahman, E., 2020. Talent management and work motivation to improve
performance of employees. Dinasti International Journal of Education Management and
Social Science.1(4).pp.490-498.
Delina, G., 2020. A study on the interrelationships between employee engagement, employee
engagement initiatives and job satisfaction. International Journal of Business
Excellence. 20(2). pp.242-268.
Hermawati, R., 2020. Analysis on The Effect of Compensation, Discipline and Motivation
Toward Performance of Employees of Mandiri Utama Sejahtera Corporation. Jurnal
Ilmiah Ilmu Administrasi Publik.10(1). pp.99-112.
Manolescu, A.A. and et.al., 2020. Talent-the New Managerial Resource in Education. Revista de
Management Comparat International. 21(4). pp.447-457.
McDonnell, A. and Wiblen, S., 2020. Talent Management: A Research Overview.
Mikuła, B., 2020. Instrumental approach in human capital management: A conceptual
framework. Management. 8(4). pp.267-283.
Tlaiss, H., 2020. Exploring talent management in practice: an Arab country-specific empirical
investigation. Employee Relations: The International Journal.
Vilčiauskaitė, B., Savanevičienė, A. and Navickas, V., 2020. Managing older talents in the
context of aging society. Economics and sociology. 13(4). pp.213-226.
Online
Provisional Monthly Hospital Episodes Statistics for Outpatients and Admitted Patient Care.
2021. [Online]. Available through:
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statistics-for-admitted-patient-care-outpatient-and-accident-and-emergency-data/april-
2020---march-2021>

APPENDIX 1
Performance review report
Project title: TO IDENTIFY THE BEST TALENT MANAGEMENT STRATEGY TO
ATTRACT AND RETAIN EMPLOYEES
What was the project supposed to accomplish?
To identify the best talent management strategy to help Sainsbury’s to retain its skilled
employees.
Did the project succeed in its aims? How do you know? Specifically, please outline any
evaluation and assessment undertaken.
Yes. On the basis of secondary research and comparing talent management strategies of other
retailers, the best strategy has selected.
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.
Development of aim and objective because it was the main thing on which basis, the whole
project need to be completed.
Secondary research and knowing about companies of their talent managements strategies because
the main aim was selecting the best and effective talent management strategy.
What problems emerged during the project and how were they tackled? Was there timely
identification of issues and resolution during the project process?
Due to changes in environmental factors such as: Covid-19, it created problems in collecting

primary data. Lack of financial resources,
But by focusing on collecting secondary data and contacting online with target people, study was
conducted.
By making use of personal savings, it was completed.
What did you learn from undertaking the project?
It helped me out in understanding effectiveness of talent management and its scope to which
extent it can help companies in improving their performance.
How would you rate your performance as Project Manager?
I will rate 4 out of 5 to my own performance as a project manager. I faced some problems but
team work and support from seniors as well as my skill of communication, decision making
skills helped me out in accomplishing goals.
What strengths and weaknesses of your performance did you identify?
 My strength of communicating with others.
 I identified that I have great research and development skills as I made use of accurate
and reliable articles only for accomplishing goals with secondary data.
 I found that I am lacking behind in time management skills.
 From self-evaluation and by conducting this project, I found that I need to focus on
improving problem solving skill.

APPENDIX 2
Project log book
Project title TO IDENTIFY THE BEST TALENT MANAGEMENT
STRATEGY TO ATTRACT AND RETAIN EMPLOYEES
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?
Yes, I accomplished the main aim of identify effective talent
management strategy to attract and retain employees within
business.
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?
Yes, due to lack of problem solving, it became difficult to select
ways of collecting data due to changes in environmental factors.
No.
Problems encountered:

Points to consider:
What barriers did you face?
How did you overcome
them?
Lack of financial resources
Collection of data
With peers support and selecting secondary sources
New ideas and change of
project direction
No

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