Importance of Talent Management Strategies in Palletways London Ltd

This report discusses the importance of talent management strategies in Palletways London Ltd and their impact on workforce performance. It includes a project management plan, research methodology, and findings from primary and secondary research. Effective strategies to attract and retain employees are also presented.

Managing a successful
business project
(talent management)

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Part A- Project planning..............................................................................................................1
Part B- Conducting research.......................................................................................................5
TASK 2............................................................................................................................................9
Present findings...........................................................................................................................9
TASK 3..........................................................................................................................................14
Reflective Practice....................................................................................................................14
CONCLUSION .............................................................................................................................15
RECOMMENDATION.................................................................................................................15
REFERENCES..............................................................................................................................17
APPENDIX....................................................................................................................................18

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. This procedure helps to every type of organisation because it support in
developing employee performance so that they would retain at workplace for longer period of
time (Cascio and Aguinis, 2018). Talent management facilitates organisation to maintain
employees who exist at workplace and attract new ones. In talent management, several strategies
are developed so that workers could retained for longer time period. In this report, talent
management is discussed along with strategies that used to encourage, motivate staff members of
company. To complete this project Palletways London Ltd is undertaken that work for support
the transportation industry. In this organisation around 69 employees are working. It involves 10
companies within Palletways London Ltd corporate family.
TASK 1
Part A- Project planning
Aims
“To analyse the importance of talent management strategies to attract or retain workforce
within an organisation.” A study on Palletways London Ltd.
Objectives
 To evaluate the importance of talent management strategies within an organisation
 To examine several talent management strategies used by Palletways London Ltd to
attract or retain talented workforce.
 To evaluate the impact of implementing talent management practices on performance of
workforce of Palletways London Ltd.
Research Questions
 What are the importance of talent management strategies within an organisation?
 Explain several talent management strategies used by Palletways London Ltd to attract or
retain talented workforce?
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 What is 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- This aspect helps to define the concept of talent management in elaborative
manner (Gupta, 2019). The main scope of the current research project is to examine the
importance of talent management strategies within organisation in a systematic way. To
complete this project researcher emphasis on format that includes importance and types
of talent management strategies which are used by researchers to attract or retain the
workforce. Hence, this project also involves several kinds of methodologies which are
used to carry out information in proper manner so that goals are attained.
 Cost- It express the amount that is required to carry out activities and task. The total
amount to complete this research project is £300. It involves the analysis of company
while executing project plan so that aims and objectives are attained. For this particular
project, the decided cost reflects in practical manner below:
Activity Total (£).
Project management plan 50
Change of location and
refreshment
60
Primary data 90
Miscellaneous expenses 100
Total 300
 Time- To attain the particular research aims and objectives in an appropriate manner time
is an important element. Researcher need to emphasis on time to complete each and every
activity so that proper analysis is to be done (Harsch and Festing, 2020). To complete
study on talent management, investigator required 9 weeks in this time frame they
complete the aims and objectives in proficient manner.
 Resources- It is an crucial element to reach the objectives. Within this report several
resources are needed such as financial, technical, human resources etc. The inclusion of
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these resources are helpful to attain objectives in proper way because due to this every
task is completed effectively. In this MS Excel is also used to develop spreadsheets,
tables for attaining the aim based on analysing importance of talent management
strategies to attract or retain talent.
 Quality- The practice of quality management is essential because it mainly based on
gather the data of great quality. It involves variety of practices so that appropriate
outcomes could be achieved (Vaiman and et. al., 2018). The quality management is
completed with a support of secondary and primary sources. Primary sources are high in
quality because in this researcher approach right respondent in an effective manner.
Secondary sources are also facilitates to collection of data by using Books, journals,
newspaper articles etc. as it assist in collect appropriate data of great quality so that aim
and objectives could be reached.
 Communication- Communication is a process that is used to share information to right
person at right time. It involves several channels that are used to convey the outcomes
correct people on right time. In this particular research, researcher used e-mails to deliver
or share information to members so that aim and objectives of research is attained.
 Risk Associated- There are number of risks which are included while collecting
information from selected participants or after the process of information gathered. In this
theft could be regarded as major risk. In this gathered information is to be stolen due to
which researcher study is failed. Hence to overcome with this issue researcher give full
time to develop strategy so that data could be gathered in effective and efficient manner.
Gantt Chart
Gantt chart refers to a type of bar chart that demonstrate the project schedule. This char
describe the list of task to be performed in vertical axis and time on horizontal axis. Here, the
horizontal graph express time duration of every activity that help researcher to complete the
project effectively and appropriately (Meyers, 2020). By using this chart, researcher complete
the each and every task as per project management plan due to which information regarding
talent management could be gathered properly and effectively.
3

WBS
The work breakdown structure elaborates an understanding related to complete the
project in authentic and reliable manner. It divides large task into smaller ones so that activities
could be attained on time and in reliable manner. WBS structure helps to attain each and every
task in proper time frame because it believed that smaller activities are easily to attain. Further
the WBS chart is presented below in context of Palletways London, Ltd. :
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Part B- Conducting research
Research methodology
Research methodology defined as a process that assist researcher to collect and gather
information in appropriate manner. Hence, several research methodologies are used within this
research project that are presented below:
 Research philosophy- It refers to that type of methodology that is used to measure the
gathered data (Kumar, 2018). There are two types of philosophies such as intepretivism
and positivism. In particular research study, investigator adopts positivism research
philosophy because it measures data in numeric manner. However, interpretivism is not
chosen by investigator because it present information in non-numeric manner that does
not express information in proper manner.
 Research choice- This facilitates the accumulation of information in proper manner. It is
mainly divided into two kinds such as quantitative and qualitative research. Investigator
chose quantitative research choice because they believed that numeric data is highly
reliable and valid in nature and also information could be gathered in short time frame.
Due to this objectives are attained easily. Qualitative research is not chosen because in
this information is gathered in non-statistical manner and contain long process that
includes more time.
 Research Approach- It is described as a procedure that involves certain actions used to
attain objectives in proper manner (Novikov and Novikov, 2019). Research approach
mainly classified into two parts i.e. inductive and deductive approach. Hence, in current
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research project, investigator show dependence on deductive approach because it is
linked to measure information into numeric manner. This measures information in short
period of time and also useful to examine that objectives of particular research is attained
or not. Inductive approach is not chosen for this particular study because it evaluate
information in non-numeric manner that also take longer time.
 Research strategy- It is a process that is used to collect information. It has various types
of research strategy such as action research, survey, experimental research, case study
etc. Researcher adopts the use of survey strategy because it is concerned with collection
of primary information. Survey is one of the best strategy for this particular research
because in this information is collected on talent management directly from the selected
respondents. In this survey questionnaire is adopted in which close ended questions are
included.
 Sample technique- It refereed to that methodology that is based on select the certain
number of respondents from huge population. It is essential to select representatives from
the whole population (Daniel, Kumar and Omar, 2018). There are two methods of
samples collection i.e. probability sampling and non-probability sampling. To conduct
this report, researcher chosen probability method where they select respondents on
random basis. In this researcher does not select non-probability method because it creates
biased-Ness among respondents due to which information are not collected reliably. To
complete this project 20 respondents are taken out as sample from them information
regarding talent management used by SMEs are gathered.
 Data collection- It is described the process of collecting information using two types
such as secondary and primary. To conduct this research, investigator choose primary or
secondary method of data collection. In terms of primary sources, information are
gathered by taken out raw data from selected representatives using questionnaire. While
to collect information using secondary sources researcher taken out information from
already published data, books, articles etc.
 Ethical considerations- To conduct the research in appropriate manner investigator has
aimed out to carry task in ethical manner. For this they take consent form from selected
company before collect information on talent management (Coombes and Ryder, 2019).
As in this researcher emphasis on not harming the respondents mentally or physically.
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Secondary research
What are the importance of talent management strategies within an organisation?
As per the viewpoint of “(Momtazian. M., 2020)” talent management strategies are very
crucial for business organisation because it increase the value of employees due to which they
work effectively and efficiently for the growth of business enterprise. The strategies of talent
management such as offer incentives, bonus etc. that are crucial to improve performance of
business and attract or retain talented workforce at workplace. Talent strategies derives
innovation within organisation due to which objectives are easily attained that helps in staying
competitive in marketplace. However, it leads to strengthen the employer branding due to which
employees are sustain within company for longer time period and new candidates are attracted
towards the firm.
Explain several talent management strategies used by Palletways London Ltd to attract or
retain talented workforce?
According to the viewpoint of “(Malmstrom. H., 2021)” Palletways London Ltd adopts
number of strategies to attracts or retain talented workforce within firm that helps in attaining
productive results. Several strategies are presented below:
 Adopts employees training tools- It is best talent management strategy that Palletways
London Ltd follows to improve employee performance and productivity. Company invest
in training tools such as micro learning platforms, learning management systems etc. Track and measure performance- As a manager of a business enterprise it is essential
to set goals and for this they need to track and measure employees performance so that
weaknesses are removed and challenges are addressed properly. This helps Palletways
London to attract or retain employees for longer period of time.
What is the impact of implementing talent management practices on performance of
workforce of Palletways London Ltd.?
As per the viewpoint of “(Ansari. K., 2021)” In an organisation, employees are generally
motivated towards their work as they show their contribution to firm and what they are allotted.
It clearly understand that the practices of talent management within organisation support workers
and it reflects in their performance. Therefore the staff member are highly crucial of any
company because they find path of attaining profits of firm. In this Palltetline engage employees
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towards the allotted task by offer motivational opportunities that would help them in achieving
the targets proficiently.
Google will follow the market penetration as its intensive development strategy,
especially in the UK. The strategic aim is to hold the consumers from the firm's present markets.
In the UK, the management already have a leadership position. On the other hand, Apple
business strategy can be classified as product differentiation. Basically, the international
technology business differentiates its goods and facilities on the basis of simple, yet attractive
design and advanced operations.
Primary research
Frequency table
Q1) Are you aware about the talent management importance within an
organisation
Frequency
a) Yes 18
b) No 2
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
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
Q4) What talent management strategies adopted by Palletways London
Ltd to develop productivity and performance of workers?
Frequency
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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
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
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
TASK 2
Present findings
Q1) Are you aware about the talent management importance within an
organisation
Frequency
a) Yes 18
b) No 2
9

a) Yes b) No
0
2
4
6
8
10
12
14
16
18
18
2
Interpretation: From the above graph it is interpreted that 18 representatives out of 20 are
aware about the importance of talent management in organisation whereas 2 respondents are not
aware about talent management.
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
10

a) Yes b) No c) Prefer not to say
0
1
2
3
4
5
6
7
8
9
10
10
5 5
Interpretation: By above graph it is interpreted that 10 respondents said that Palletways London
Ltd adopts talent management practices appropriately whereas 5 representatives said company
does not used talent management strategies. In this last 5 respondents out of 20 prefer not to
anything about this.
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
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a) Offer career development paths
b) Adopts employee training tools
c) Timely provide rewards and benefits
d) Retain best candidates
0
1
2
3
4
5
6
7
7
4
5
4
Interpretation: From the above data it is interpreted that 7 respondents out of 20 representatives
said that offer career development path is effective talent management strategy that organisation
adopts whereas 4 people said that offer employees training tools is effective talent management
strategies to attract or retain talent. In this 5 respondents thinks that provide rewards and benefits
are effective to attract or retain talent and 4 representatives said that retain best candidate is
effective to retain workforce within organisation.
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
12

a) Understand power of job descriptions
b) Organise training sessions
c) offers leaves and other perks
d) Flexibility in working hours
0
1
2
3
4
5
6
4
6 6
4
Interpretation: From above data it is interpreted that 4 respondent thinks that understand power
of job descriptions is best TM strategy adopted by Palletways London Ltd to increase
performance and productivity of workers. 6 respondents believed that organise training sessions
are followed by Palletways London to enhance performance and productivity of workers whereas
6 respondents believed that offer leaves and perks are effective to increase performance and
productivity. Rest 4 out of 20 believes that flexibility in working hours is effective to enhance
performance and productivity.
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
13

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
Interpretation- From above data it is interpreted that 9 respondents out of 20 said that talent
management process develop new and existing personnel within Palletways London whereas 5
respondents believes that it keeps best employees within organisation. In this 6 respondents
thinks that talent management process encourage workers due to which targets of company are
attained.
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
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0
2
4
6
8
Interpretation- From above graph it is interpreted that 7 people suggest Palletways London Ltd
that they emphasis on establish goals and objectives as a TM strategies whereas 8 respondents
out of 20 suggest that they could emphasis on track and measure performance of workers. In this
5 suggest standardize on-boarding process is best talent management strategies.
TASK 3
Reflective Practice
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. This term is reflected that I need to emphasis on my
time management skills along with planning skills because both are essential to complete the task
in set time duration and in proper format. As these skills could be developed by me by involving
in several online sessions and attending seminars that assist me to follow on it and attained the
targets proficiently. Hence, this report helps me to grow time management skills by involving in
number of activities so that required targets are effectively completed by me. All these are
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effective to develop my future professional career and also gives me opportunity to conduct
further more research appropriately and effectively.
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.
RECOMMENDATION
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). The targets of a user adoption tactics is to
support the business to reach their goal. That means conducting research to understand
consumers' motivations, needs, environments, beliefs, complaints, and, most essential of all the
reasons why users don't adopt. So the management of Palletways apply such sort of the tactics to
sustain in the field of the market place for longer period of time. Further it is crucial to maximise
productivity and creativity of workers within organisation so that more profitable results are
enjoyed by SMEs. Some recommendations are to be demonstrated below:
 Palletways London Ltd must focus on providing regular training and development
sessions to employees as per individuals skills and capabilities. As the company is needed
to maintain the practices of HR so that firm effectively stay the workforce on productivity
within the assigned targets. In training and developing sessions, trainer need to focus on
expertise the employees so that they understand job and responsibilities properly.
 The company should emphasis on revise their perks and benefits policies and standards
as it is useful to fulfil the needs and expectations of workers effectively. In benefit
policies several kinds of incentives are included such as monetary, vacation time, leaves
breaks etc.
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REFERENCES
Books and Journals
Cascio, W.F. and Aguinis, H., 2018. Applied psychology in talent management. SAGE
Publications.
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.
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.
Gupta, V., 2019. Talent management dimensions and their relationship with retention of
Generation-Y employees in the hospitality industry. International Journal of
Contemporary Hospitality Management.
Harsch, K. and Festing, M., 2020. Dynamic talent management capabilities and organizational
agility—A qualitative exploration. Human Resource Management. 59(1). pp.43-61.
Kumar, R., 2018. Research methodology: A step-by-step guide for beginners. Sage.
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.
Novikov, A.M. and Novikov, D.A., 2019. Research methodology: From philosophy of science to
research design. CRC Press.
Säfsten, K. and Gustavsson, M., 2020. Research methodology: for engineers and other problem-
solvers.
Vaiman, V. and et. al., 2018. Macro talent management: A global perspective on managing
talent in developed markets. Routledge.
Online
Ansari. K., 2021. 6 Simple Talent Management Strategies. [Online]. Available through:
<https://theundercoverrecruiter.com/talent-management-strategy/>
Malmstrom. H., 2021. 10 Talent Management Strategies. [Online]. Available through:
<https://www.edapp.com/blog/10-talent-management-strategies/>
Momtazian. M., 2020. What is Talent Management and Why is It Important?. [Online].
Available through: < https://expert360.com/resources/articles/talent-management-
important>
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APPENDIX
Name:
Project title: “To analyse the importance of talent management strategies to attract or
retain workforce within an organisation.” A study on Palletways London Ltd.
Date:
Update on weekly research/tasks achieved
Points to consider:
What have you completed?
I have completed this study on “To analyse the importance of talent management strategies
to attract or retain workforce within an organisation.” A study on Palletways London Ltd.
Did you fulfil task requirements?
Yes.
Are you on track and within deadlines set?
Yes
Did you need to make any changes to your project management plan?
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?
No, I am indulge of using data and skill that are essential.
Did you identify any additional risks/issues that have an impact on the project
management plan?
No.
Problems encountered
Points to consider:
What barriers did you face?
At the time of interacting with representatives.
How did you overcome them?
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Using soft skills of leadership.
What have I learnt about myself this week?
Points to consider:
How did I feel when I had to deal with tasks/problems?
I feel comfortable while interacting to members.
Did I find it useful to complete the tasks?
Yes I found it useful while completing the task.
How well have I performed?
Using skills I performed well.
What can I improve on next week?
By involving in same kind of research.
How might this learning apply in the future?
By make proper judgements.
Tasks planned for next week
Points to consider:
Which tasks are priority?
Task related to data collection and interpretation.
Have you set aside sufficient time for completion?
Using WBS and Gantt chart
Project plan status to date (on, ahead, behind):
Supervisor comments to address:
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