Talent Strategies for Attracting and Retaining Employees: A Study on Morrisons
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This research report analyses the different kinds of talent strategies adopted by companies for attaining and retaining best talents in the workplace. A study on Morrisons. Findings include primary and secondary research, talent management initiatives of Morrisons and Tesco, and recommendations for improving talent management strategies.
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MANAGING A SUCCESSFUL BUSINESS PROJECT (What talent strategies do the best companies use to attract and retain people)
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Table of Contents INTRODUCTION...........................................................................................................................3 STEP 1: PROJECT PLANNING.....................................................................................................3 ..........................................................................................................................................................6 STEP 2: CONDUCT PRIMARY AND SECONDARY RESEARCH...........................................7 1. PRIMARY RESEARCH.........................................................................................................7 SECONDARY RESEARCH......................................................................................................7 2. Research two organisations to see what kind of talent management initiatives they have.....8 STEP 3: PRESENT FINDINGS......................................................................................................9 1. Analysing findings..................................................................................................................9 2. Evaluation of tools used to gather information.....................................................................11 STEP 4: REFLECTIVE PRACTICE.............................................................................................13 RECOMMENDATIONS...............................................................................................................15 CONCLUSION..............................................................................................................................16 REFERENCES..............................................................................................................................17
INTRODUCTION Talent management is referred as one of the important components to arrange, organise and workforce in the workplace. Companies give priority to talent management strategies so that best talent can be acquired, recruited and attracted. The present research is dependent upon best and effective talent strategies to attract and retain employees in the workplace for longer time duration (Gallardo-Gallardo, Thunnissen and Scullion, 2020). The selected company for the present research report is Morrisons, it is knowns as fourth largest chain in the supermarket in United Kingdom. STEP 1: PROJECT PLANNING Project management plan refers to the plan that is focussed towards planning the activities of project in effective and efficient way. The plan is created so that all the needed resources could be identified as well as aligned with the defined aim and objectives.ļ·Scope:As per the objectives and aim of the current research, there are various tasks and activities that required to be accomplished. The scope of the present research is collecting primaryaswellassecondarypieceofinformation,conductingsurvey,selecting respondents and so on.ļ·Resources:In the present investigation, there are various types of resources that are included: books, articles, newspapers, journals, respondents etc. These resources play major role in achieving aim and objectives (Bairagi and Munot, 2019).ļ·Risk:Risk is known as an element that can not be predicted because it can come at any point of time. So, researcher always have back-up plan to conduct research because it is necessary to have different alternatives. Researcher has taken preventive measures and made back up plan to conduct investigation.ļ·Time:Time is known as one of the significant elements in conducting activities and tasks in systematic way. Investigator has planned to complete each task and activity with the assistance of systematic time schedule (Ragab and Arisha, 2018).ļ·Milestones and major events:In the present research project, there are many milestones and events that are covered by investigator. Some of the phases and events of the current project are: introduction, project management plan,primary and secondary research, findings. The major events in the project are: project management plan and primary and
secondary research because these events hold the maximum information of the whole project. ļ·Initiation, planning and execution:In the current project the first phase is to know whether the project is required or not and the how beneficial it would be for the readers. In an initiation phase the project is proposed and identify the expectations from the project. In the planning stage, researcher has planned certain aim, objectivesand questions that are given below. In the execution process, researcher has aimed at conducting primary as well as secondary research to gather appropriate so that objectives could be easily attained (Ahammad and et. al., 2018). Research Aim: āTo analyse the different kinds of talent strategies adopted by companies for attaining and retaining best talents in the workplace. A study on Morrisonsā Research Objectives: ļ·To understand the concept and importance of talent management within an organisation ļ·To determine the different types of talent strategies adopted by Morrisons to retain and attract best talents in the workplace ļ·To ascertain the benefits of talent strategies in improving the performance of employees as well as business within Morrisons Research Questions: ļ·Define the concept and importance of talent management within an organisation? ļ·What are the different types of talent strategies adopted by Morrisons to retain and attract best talents in the workplace?ļ·What are the benefits of talent strategies in improving the performance of employees as well as business within Morrisons? Work breakdown structure:Work breakdown structure is defined as the procedure through which larger activities are broken down into smaller tasks. It makes the process of conducting research project very simple and convenient.
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Gantt chart:Gantt chart is defined as the project schedule that helps in scheduling different activities of the project in effective and efficient manner. The chart is divided into two main bars in which one side has all the activities and in another time needed for completing the project.
STEP 2: CONDUCT PRIMARY AND SECONDARY RESEARCH 1. PRIMARY RESEARCH Q1)Accordingtoyourknowledge,howdoyoudefinetalent management? Frequency a) Process of attracting best candidate5 b) Process to retain best talents10 c) Process of encouraging and motivating employees10 Q2) What are the talent strategies used by Morrisons to retain employees in the organisation? Frequency a) Training and development5 b) Rewards and recognition5 c) Promotion5 d) Job rotation10 Q3) If you get chance, what would you suggest to Morrisons for improving their talent management strategies? Frequency a) More financial benefits9 b) Learning sessions5 c) Flexible timings7 d) Positive environment4 SECONDARY RESEARCH Define the concept and importance of talent management within an organisation? According toAnlesinya and Amponsah-Tawiah (2020),talent management is referred as the procedure of by which organisations retain, organise and attract workforce in the workplace. It is defined as one the essential processes to keep workforce in the organisation for longer time
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duration. In simpler words, it is the method through which employees are retained in the company for longer time period. What are the different types of talent strategies adopted by Morrisons to retain and attract best talents in the workplace? According toSparrow (2019),there are many kinds of talent strategies in the workplace. Morrisons has adopted different strategies that are explained below in brief manner: Training and development is known as one of the effective strategies considered by Morrisons. It is adopted because with this strategy employees are trained so that they can learn new skill as well as new knowledge. With the assistance of training and development, employees develop confidence and retain in the same organisation because they get the opportunity to learn new things. Rewards and benefits is another strategy that is used by Morrisons. In this strategy employees are provided with different types of benefits such as health plan, insurance plan etc. When employees get rewards for their great work they feel motivated to do their work with more efforts. What are the benefits of talent strategies in improving the performance of employees as well as business within Morrisons? According toPainterāMorland and et. al., (2019),there are various benefits of talent management strategies in Morrisons. The talent management strategies create positive impact on improving the employee's performance as well as business performance. With the assistance of talent strategies, employees develop confidence and motivation and do their work with more efforts and confidence. When workforce do their work with greater efficiency they achieve their targets as well as contribute in attaining company's targets. 2. Research two organisations to see what kind of talent management initiatives they have Talent management initiatives MorrisonsTesco Morrisons is known as the best supermarkets in UK. Morrisons believe in arranging sessions of trainingand developmentfor employeesso that they could have learn new skills as well as Tesco is the company that also believes in managingandorganisingemployees effectively. Tesco provides flexible working environment to their employees so that they
knowledge (Ansar and Baloch, 2018). This strategyprovideschancetoemployeesto develop in the same organisation and grow by attaining targets of the company. could easily balance between their personal as well as professional life.
STEP 3: PRESENT FINDINGS 1. Analysing findings Question 1: Definition talent management Q1)Accordingtoyourknowledge,howdoyoudefinetalent management? Frequency a) Process of attracting best candidate5 b) Process to retain best talents10 c) Process of encouraging and motivating employees10 0 2 4 6 8 10 5 1010 Interpretation:As per the above mentioned piece of information, it is interpreted that 5 respondentshaveansweredthatitistheprocesstoattractbestcandidates.Another10 participants have answered process of retaining best talents because it is significant to retain qualified and talented employees. The rest 10 respondents have answered that it is the procedure to motivate and encourage employees. Question 2: Talent strategies used by Morrisons to retain employees in the organisation
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Q2) What are the talent strategies used by Morrisons to retain employees in the organisation? Frequency a) Training and development5 b) Rewards and recognition5 c) Promotion5 d) Job rotation10 a) Training and development b) Rewards and recognition c) Promotion d) Job rotation 0 1 2 3 4 5 6 7 8 9 10 555 10 Interpretation:With the above recorded data, it is analysed that 5 respondents have said that training and development is one of the talent strategies of Morrisons because in this employees are able to learn new knowledge and skill. The other 5 representatives have answered that recognition and rewards is another strategy as every employee wants reward as this the motivation factor. The other 5 have answered that promotion is another strategy as employees are promoted to high position. The remaining 10 respondents have said job rotation is another strategy. Question 3: Suggestion for Morrisons for improving their talent management strategies Q3) If you get chance, what would you suggest to Morrisons forFrequency
improving their talent management strategies? a) More financial benefits9 b) Learning sessions5 c) Flexible timings7 d) Positive environment4 a) More financial benefits b) Learning sessions c) Flexible timings d) Positive environment 0 1 2 3 4 5 6 7 8 9 9 5 7 4 Interpretation:As per the collected data, it is analysed that 9 respondents have answered that more financial benefits is one of the suggestions for Morrisons, the other 5 respondents have answered learning session is another suggestion and the other 7 respondents have answered flexible timings.The remaining 4 respondents answered positive environment is the other suggestion. 2. Evaluation of tools used to gather information In the present investigation, there are many tools and methods are used to collect and analyse information in systematic manner. Some of the tools that are used in the present project are explained and examined below: Primary and secondary data collection:Primary data collection refers to the method that helps in collecting first-hand piece of informationdirectly from the participants. This is the
method that is very effective to gather raw data directly from the source. In the current project primary method is used and researcher has formed questionnaire to gather information. In the current project 20 respondents are chosen randomly from Morrisons (Nayak and Singh, 2021). Secondary method is also used in the present investigation because it helps in using already published data. This is the information that is used in the section of literature review. The sourcesusedfor gatheringsecond-hand pieceof informationisbooks, articles,journals, newspapers etc. Qualitative and quantitative method:There are mainly two types of research: qualitative and quantitative research. For the present research project, investigator has selected quantitative method because it assists in gathering numerical information in shorter period of time. On the other hand, qualitative method is not selected because it assists in gathering information that is not present in numerical form (Jayaraman, Talib and Khan, 2018).
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STEP 4: REFLECTIVE PRACTICE Performance Review What was the project supposed to accomplish? Research project has been completed onanalysing the different kinds of talent strategies adopted by companies for attaining and retaining best talents in the workplace. A study on Morrisons Did the project succeed in its aims? How do you know? Specifically, please outline any evaluation and assessment undertaken. The project has achieved the main aim. It is well understood because proper primary as well secondary information has been collected. The current research has made systematic project management plan with proper evaluation of methods. 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. Proper planning and execution have worked well in the present research project. What problems emerged during the project and how were they tackled? Was there timely identification of issues and resolution during the project process? The issues found in the present research project was managing time systematically and dealing with human respondents. What did you learn from undertaking the project? I have learnt that every company should invest proper time to undertake the project. How would you rate your performance as project manager? I rate my performance 8 out of 10. What strengths and weaknesses of your performance did you identify? My strength includes solving problems easily and the weakness includes strictly following time table.
How will this inform and support your continuous professional development? This would help in my professional development as I would be able to attain my professional targets and objectives. Project Logbook Name: Project title: Update on weekly research/tasks achieved. I have completed research onanalysing the different kinds of talent strategies adopted by companies for attaining and retaining best talents in the workplace. A study on Morrisons Yes, I was on track and I was able to complete project on time. I did not need to make any changes in project management plan. Any risks and/or issues identified? Yes I have issue in managing time. Problems encountered Time management problem. New ideas and change of project direction What have I learnt about myself this week? I have learnt to complete project on time. Tasks planned for next week I was able to complete my activities in effective and signifiant manner. Project plan status to date (on, ahead, behind) My research project was on time. Supervisor comments to address
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RECOMMENDATIONS From the above accumulated data it is recommended to Morrisons that they should focus on organising learning sessions frequently because in this competitive market competitors are providing productive sessions to their employees. Morrisons should also make forming policies that provide great amount of compensation to employees because this attracts employees to retain in the same organisation.
CONCLUSION From the above collected data it is concluded that talent management strategies are very effective step for companies because it assists in retaining best talent for the longer period of time. Hence, in the current research project primary and secondary methods are used to collect information about talent management.
REFERENCES Books and Journals Ahammad and et. al., 2018. Strategic talent management in emerging markets.Thunderbird International Business Review.60(1). pp.5-8. Anlesinya, A. and Amponsah-Tawiah, K., 2020. Towards a responsible talent management model.European Journal of Training and Development. Ansar, N. and Baloch, A., 2018. Talent and talent management: definition and issues.IBT Journal of Business Studies (IBTJBS).14(2). Bairagi, V. and Munot, M.V. eds., 2019.Research methodology: A practical and scientific approach. CRC Press. Gallardo-Gallardo, E., Thunnissen, M. and Scullion, H., 2020. Talent management: context matters. Jayaraman, S., Talib, P. and Khan, A.F., 2018. Integrated talent management scale: Construction and initial validation.Sage Open.8(3). p.2158244018780965. Nayak,J.K.andSingh,P.,2021.FundamentalsofResearchMethodologyProblemsand Prospects. SSDN Publishers & Distributors. PainterāMorlandandet.al.,2019.Talentmanagement:Thegood,thebad,andthe possible.European Management Review.16(1). pp.135-146. Ragab,M.A.andArisha,A.,2018.Researchmethodologyinbusiness:Astarterās guide.Management and Organizational Studies.5(1). pp.1-14. Sparrow, P., 2019. A historical analysis of critiques in the talent management debate.BRQ Business Research Quarterly.22(3). pp.160-170.