Importance of Talent Management Strategies to Attract or Retain Workforce within an Organisation: A Study on Palletways London Ltd

This study examines the importance of talent management strategies within an organisation, with a focus on Palletways London Ltd. It analyzes the impact of implementing talent management practices on the performance of the workforce and evaluates several talent management strategies used by the company to attract or retain talented employees.

Managing the Successful
Business Project
TO A N A LY S E T H E I M P O R TA N C E O F TA L E N T
M A N A G E M E N T S T R AT E G I E S TO AT T R A C T O R
R E TA I N W O R K F O R C E W I T H I N A N
O R G A N I S AT I O N . ” A S T U D Y O N PA L L E T WAY S
L O N D O N LT D

Content
1. Introduction
2. Research Importance/significance
3. Research Aim
4. Research questions
5. Research objectives
6. Project management Plan
7. Intended methodology
8. Reflection
9. Conclusion
10. Recommendation

Introduction
The main purpose of conducting this study is to examine importance of talent
management strategies within the organisation. Talent management is very
crucial term within an enterprise because it attracts or retain employees for longer
period of time. As employees are crucial asset of business venture because they
attain targets for company benefits and sustainability.

Research Aim
To analyse the importance of talent management strategies to attract or retain
workforce within an organisation.” A study on Palletways London Ltd

Research questions
1. What are the importance of talent management strategies within an organisation?
2. Explain several talent management strategies used by Palletways London Ltd to attract
or retain talented workforce?
3. What is the impact of implementing talent management practices on performance of
workforce of Palletways London Ltd.?

Research objectives
1. To evaluate the importance of talent management strategies within an organisation
2. To examine several talent management strategies used by Palletways London Ltd to
attract or retain talented workforce.
3. To evaluate the impact of implementing talent management practices on performance of
workforce of Palletways London Ltd.

Project management plan
Project management plan termed as those plan that assist researcher to plan the different
phases of project in appropriate manner. This helps to identify several resources and
activities that is used to achieve the objectives in easy and convenient manner. Several
components are presented in this report that are useful to complete the study on time frame
and in appropriate manner.
Scope
Cost
Time
Resources
Quality
Communication
Risk Associated

Intended methodology
Research Approach
Research Philosophy
Research Strategy
Research Choice
Data Collection
Sampling
Ethical consideration

Gantt Chart

Work Breakdown Structure

Present findings
Q1) Do you think that you have great knowledge about the concept of
talent management?
Frequency
a) Yes 20
b) No 0
a) Yes b) No
0
2
4
6
8
10
12
14
16
18
20
20
0
a) Yes b) No
0
2
4
6
8
10
12
14
16
18
20
20
0

Present findings
Q1) Are you aware about the talent management importance within an
organisation
Frequency
a) Yes 18
b) No 2
a) Yes b) No
0
2
4
6
8
10
12
14
16
18
18
2

Present findings
Q2) In your opinion, is Palletways London Ltd use talent management
practices appropriately or efficiently?
Frequency
a) Yes 10
b) No 5
c) Prefer not to say 5
a) Yes b) No c) Prefer not to say
0
1
2
3
4
5
6
7
8
9
10
10
5 5

Present findings
Q3) According to you, what talent management strategies are effective to
attract or retain employees?
Frequency
a) Offer career development paths 7
b) Adopts employee training tools 4
c) Timely provide rewards and benefits 5
d) Retain best candidates 4
a) Offer career development paths
c) Timely provide rewards and benefits
0
1
2
3
4
5
6
7
7
4
5
4
a) Offer career development paths
c) Timely provide rewards and benefits
0
1
2
3
4
5
6
7
7
4
5
4

Present findings
Q4) What talent management strategies adopted by Palletways London
Ltd to develop productivity and performance of workers?
Frequency
a) Understand power of job descriptions 4
b) Organise training sessions 6
c) offers leaves and other perks 6
d) Flexibility in working hours 4
a) Understand power of job descriptions
c) offers leaves and other perks
0
1
2
3
4
5
6
4
6 6
4
a) Understand power of job descriptions
c) offers leaves and other perks
0
1
2
3
4
5
6
4
6 6
4

Present findings
Q5) In your opinion, what reason that make Palletways London Ltd to
adopts the talent management process?
Frequency
a) To develop new and existing personnel 9
b) To keep best employees 5
c) To encourage workers 6
a) To develop new and existing personnel
b) To keep best employees
c) To encourage workers
0
1
2
3
4
5
6
7
8
9

Present findings
Q6) According in your view, what you would suggest to Palletways
London Ltd in terms of talent management strategies?
Frequency
a) Establish goals and objectives 7
b) Track and measure performance 8
c) Standardize on-boarding process and talent review 5
a) Establish goals and objectives
c) Standardize on-boarding process and talent review
0
1
2
3
4
5
6
7
8
a) Establish goals and objectives
c) Standardize on-boarding process and talent review
0
1
2
3
4
5
6
7
8

Reflection
I am glad to involve within this research because this complete study helped me
to identify the importance of talent management strategies within organisation.
This research is also effective because it helps me to recognise the knowledge of
my strength and weaknesses that are required to attained the objectives and aim
in definite time period. However the data that are gathered by me under primary
collection method helps in to strengthen the communication skill while
secondary sources helps me to examine my analysing skill so that correct
information is collected and finding are done accurately.

Conclusion
From the above detailed information on talent management it is concluded that
talent management strategies are very crucial for each and every type of
business organisation. Hence, it is important as it help company to retain or
attract employees for longer time period. Employees are offered with variety of
benefits and offers that helps them to sustain in firm that helps in attaining the
defined aims and objectives.

RECOMMENDATIONS
From the above research report it is evaluated that Palletways London Ltd need
to improve their talent management strategies to engage employees within work
and attract more new applicants (Säfsten and Gustavsson, 2020).
1. Providing regular training and development
2. Revise their perks and benefits policies and standards

References
1. Cascio, W.F. and Aguinis, H., 2018. Applied psychology in talent management. SAGE
Publications.
2. Coombes, J. and Ryder, C., 2019. Walking together to create harmony in research: A
Murri woman’s approach to Indigenous research methodology. Qualitative Research in
Organizations and Management: An International Journal.
3. Daniel, B., Kumar, V. and Omar, N., 2018. Postgraduate conception of research
methodology: implications for learning and teaching. International Journal of
Research & Method in Education. 41(2). pp.220-236.