Talent Management Strategies for Attracting and Retaining People in Tesco
Verified
Added on  2023/06/18
|32
|2634
|322
AI Summary
This project analyzes talent strategies that can be adopted to attract and retain people of Tesco. It includes objectives, research questions, scope, milestones, Gantt chart, themes, findings, and recommendations.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Unit 6 – Managing Successful Business Project 1
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of contents INTRODUCTION...........................................................................................................................3 REFERENCES..............................................................................................................................13 2
INTRODUCTION Aim –To analyze talent strategies that can be adopted to attract and retain people of Tesco Deliverables –The project will deliver the objectives which will be framed and will also include the Gantt chart, there will be themes with the graph interpretation along with the project concluded by graph along with the present findings and recommendations. Time –The time taken for this project to be completed will be 2 – 3 months (Delisle, 2020). Quality –The quality of the project depends upon how effectively and in appropriate manner all the steps of the project are being delivered. This also helps in making the aims and objectives which are known at larger scale. Communication–Thecommunicationprocessisbeingdonethroughtheframingof questionnaire and this helps in engaging the participants by communicating with them for their perspective regarding the project. Risk –There can be risk while making this project as the information and the data gathered may not be sufficient or appropriate for the findings, data for the project planning can be copied for some other sources (Galli, 2017). Resources –The resources which are required for the project are MSBP tools for preparing the Gantt chart and this will help in knowing all the aspects through the development of project. These are the resources which will help in making the project more informed and significant. Objectives – To evaluate importance of talent management in HRM for company. To analyse various talent management strategies used by organizations. To identify challenges faced by the company in implementation of talent management strategies (Muli, 2019). 3
Torecommendappropriatetalentmanagementstrategiesthatcanbeadoptedby organization’s for attracting and retaining people within Tesco. Research Question – What is the importance of talent management in HRM for company? What are the various talent management strategies used by the organization? What are the challenges that are faced by the company in implementation of the strategies? Step 1 - Scope –Activities and tasks that are defined in the project in order to make the project a success helps in knowing that the scale through which all the perspectives of how to retain and attract people in the Tesco are way towards the employee engagement and this process helps in making and gaining the scale through which the talent management is also processed in the company and this helps in initiating how the people are trained and developed for their positions in the company at right place at right positions (Fry and et.al., 2019).The main aspect in which all factors in which the project is being conducted is known at higher scale and this helps in initiating basis through which all the things are being taken into consideration to be processed significantly. Scope of the project will help in delivering basis through which how to attract and retain people in Tesco will be analyzed and this helps in making and framing scales through which project is being expanded and described at large scale. For making further information to be made available the project is made and prepared to be made significant for research. Milestones –Milestones or major events are framed in the process of knowing that how the scale is measured through which all the events takes place. This helps in framing the basis through which all the aspects of the report are in consideration with how long the project is made and how much successful it has been for the rest of the process. The milestones are being set to analyze that how the talent strategies are being adopted by the company Tesco to attract and retain the people.The events which takes place and the research which is done in this manner is known how effectively and in exact manner the efficiency of the project is being taken into consideration. The milestones are being set as per the aims and objectives which are being set 4
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
and this helps in making and framing basis through which all possible aspects are known at large scale and in effective manner. When the milestones are achieved which is through the aspects through which all factors are fulfilled then the project reaches the stage of being successfully fulfilling the main stages of projects. Gantt Chart – Task NameDurationStartFinishPredecessors Initiation17 daysMon 01-07-19Tue 23-07-19 Aims and objectives10 daysMon 01-07-19Fri 12-07-19 Proposal7 daysMon 15-07-19Tue 23-07-192 Planning42 daysTue 23-07-19Wed 18-09-19 Evaluate sources8 daysWed 24-07-19Fri 02-08-193 Research methods9 daysMon 05-08-19Thu 15-08-195 Data collection25 daysFri 16-08-19Thu 19-09-196 Implementing21 daysThu 19-09-19Thu 17-10-19 Data analysis10 daysFri 20-09-19Thu 03-10-197 Monitoring21 daysFri 18-10-19Fri 15-11-19 Reviewing project9 daysMon 21-10-19Thu 31-10-1911 Measure success12 daysFri 01-11-19Mon 18-11-1913 Closure10 daysFri 15-11-19Thu 28-11-19 concluding findings10 daysTue 19-11-19Mon 02-12-1914 5
Work Breakdown Structure (WBS) – 6
Step 2 Theme 1 Question 1: Are talent management strategies top priorities in Tesco? OptionsFrequency Yes8 No2 Total10 YesNoTotal 0 2 4 6 8 10 12 Frequency Frequency 7
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Interpretation –From the above paragraph it has been interpreted that 8 out of 10 people think that talent management strategies are the top priorities in Tesco. Talent management strategies are important for the company to attract and retain the people or employees for which strategies play major role. But on the contrary, 2 out of 10 people think that talent management strategies are not that important for the company. From the above analysis, it is interpreted that talent management strategies should be framed for knowing the processes of the company effectively and efficiently at significant scales. Theme 2 Question 2: Does HR management of Tesco frames strategies that encourage development and growth opportunities? OptionsFrequency Yes7 No3 Total10 YesNoTotal 0 2 4 6 8 10 12 Frequency Frequency Interpretation –It is interpreted from the above paragraph that 7 out of 10 people think that the HR management of the Tesco frames strategiesthat encourage developmentand growth opportunities which helps the employees or people in providing effective performances at their job roles. But on the contrary, there are 3 out of 10 people who think that HR management of 8
Tesco fails to deliver effective strategies to the employees. Therefore, the HR management strategies encourage development and growth opportunities. Theme 3 Question 3: How frequently the training and development activities are conducted in Tesco? OptionsFrequency Yearly2 Monthly4 Quarterly3 Days1 Total10 YearlyMonthlyQuarterlyDaysTotal 0 2 4 6 8 10 12 Frequency Frequency Interpretation –From the above interpretation, it is identified that 4 out of 10 people think that training and development activities are monthly conducted in Tesco. 2 out of 10 people think that development and training activities are conducted yearly in Tesco. 3 out of 10 people think that the development and training activities are conducted quarterly in Tesco. And 1 out of 10 people think that training and development activities are conducted on days in Tesco. Theme 4 Question 4: Are retention strategies implemented significantly within organization? 9
OptionsFrequency Yes5 No5 Total10 YesNoTotal 0 2 4 6 8 10 12 Frequency Frequency Interpretation –From the above interpretation, it is analyzed that 5 out of 10 people think that the retention strategies are implemented significantly within Tesco. Whereas, the other 5 out of 10 people think that the retention strategies are not implemented significantly with Tesco and this brings the scale to be equal on both yes and no factors. The retention strategies are framed for knowing what is to be done for the process of retaining the employees at large scale. Literature Review – Importance of Talent Management in HRM of Company 10
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
According toMupepi and et.al., (2017), Talent management is the process which helps in recruiting and selecting the talented individuals for the job role. It helps in engaging the employees, motivate them through their skills and work for the company’s goals to be achieved. Various Talent Management Strategies used by Organizations As perBorisova and et.al., (2017), Various talent management strategies are – Tracking and measuring of performance of the employees. Providing the path for career development. Rewarding and recognizing the top performers. Identifying employee training tools. Challenges Faced by the Company in Implementation of Talent Management Strategies As viewed byTafti and et.al., (2017), The challenges which are faced by company in implementation of Talent Management Strategies are as follows – Identifying the potential growth in the employees within organization. Collecting the teams for tasks and activities to be performed. Providing training needs. Identifying the internal individuals for the job role. Performance to be boosted of employees. Step 3 Present Findings –It is analyzed and found that the project was framed under the thematic analysis which helped in framing the qualitative aspect based on which the talent management strategies topic for Tesco was being framed and analyzed and identified at large scale. This also helped in evaluating the base through which all the objectives and aims were being framed for analysis and evaluation through the findings at large scale. Recommendations –There are some of the recommendations which should be considered as follows – 11
ï‚·Talent management strategies should be implemented effectively in such manner that all employees get equal opportunity for the different types of job roles. ï‚·Tesco should ensure that the employees are rightly placed at their respective jobs (Johennesse and et.al., 2017). ï‚·The company should incur strategies which should help in making and framing the process much easier for employees and organizations in their work. CONCLUSION Thus, it is analyzed from the above research that talent management strategies are adopted too attract and retain people of Tesco and this helped in framing the research with objectives and scope. Along with this, Gantt chart was being prepared and themes were framed with graphs. Present findings along with recommendations were given. 12
13
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Step 4 Reflection –From the above project report, I learned many things in which the data was collected to find out the results and along with that framing of the interpretation and the other collection of the information was being done at large scale in effective and efficient manner. I also learned that how to manage time and what are the factors which contribute in accomplishing the time scale of how the things are taken into consideration. I also learned lot of other things which helped in framing the scale through which I was able to make and evaluate how the business grows and develops at large scale so effectively and efficiently.I also learned from the above project that all the essential information was provided for making the use of the tasks and activities to its full extent and this helped in making and framing the scale through which the project was being completed. I was also able to learn the major changes which were to be done in the project concerning of framing the questionnaire which helped in framing the themes and through that interpretation was being done. The major aspect in the project which was being 26
provided for the successful accomplishment of tasks and activities are concerned in the way through which all possible factors and aspects are known at large scale. With the help of the framing of the whole project and researching major aspects for aim and objectives to be covered specifically and is then analyzed and evaluated at large scale in an effective and efficient manner. 27
REFERENCES Books and journals Mupepi, M. and et.al., 2017.Effective talent management strategies for organizational success. IGI Global. Borisova, O.N. and et.al., 2017. Talent management as an essential element in a corporate personnel development strategy.Academy of strategic management journal.16.p.31. Tafti,M.M.andet.al.,2017.Criticalsuccessfactors,challengesandobstaclesintalent management.Industrial and Commercial Training. Johennesse, L.A.C. and et.al., 2017. Employee Perceptions of Talent Management Effectiveness on Retention.Global Business & Management Research.9(3). Delisle, J., 2020. Working time in multi-project settings: How project workers manage work overload.International Journal of Project Management.38(7).pp.419-428. Galli,B.J.,2017.Riskmanagementinprojectenvironments:Reflectionofthestandard process.The Journal of Modern Project Management.5(2). Muli, A.N., 2019. STRATEGIC FINANCIAL EVALUATION AND ANALYSIS OF TESCO AND BENEDICT CO. Fry, C.C. and et.al., 2019. The Design and Development of a Multi-Disciplinary Project in Embedded Systems Design. InASEE Gulf-Southwest Section Annual Meeting 2018 Papers. American Society for Engineering Education. 28
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Project Logbook WeekDateWeekly Update 101/07/19 – 07/07/19In the first week of the project, I will be setting up the aims and objectives. 217/07/19 – 23/07/19I will be preparing the proposal for the research between this date frame. 324/07/19 – 02/08/19I will be evaluating sources which will help me in framing the research. 409/07/19 – 15/08/19I will be framing the research methods which will help in providing the primary and secondary research. 516/08/19 – 22/08/19 23/08/19 – 30/08/19 30/08/19 – 05//08/19 06/08/19 – 12/09/19 12/09/19 – 19/09/19 In the following weeks, I will be gathering data and collecting it from the primary and secondary sources. 620/09/19 – 26/09/19 27/09/19 – 02/10/19 In the following weeks, I will be implementing the data which is being collected and will analyse it. 721/10/19 – 27/10/19 28/10/19 – 31/10/19 In these weeks, I will be reviewing the project which I have framed. 801/11/19 – 07/11/19 08/11/19 – 14/11/19 I will bemeasuringthe successfactorswhichhave been developed and gained through the research being done. 919/11/19 – 25/11/19 26/11/19 – 01/02/20 In these weeks, I will be concluding the findings for the research. 29
Appendix Questionnaire Question 1: Are talent management strategies top priorities in Tesco? ï‚·Yes ï‚·No Question 2: Does HR management of Tesco frames strategies that encourages development and growth opportunities? 30
ï‚·Yes ï‚·No Question 3: How frequently the training and development activities are conducted in Tesco? ï‚·Yearly ï‚·Monthly ï‚·Quarterly ï‚·Days Question 4: Are retention strategies implemented significantly within organization? ï‚·Yes ï‚·No 31
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.