Talent Strategies for Attracting and Retaining People

Managing a Successful
Business Project
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Contents
TITLE – “What talent strategies do the best companies use to attract and retain people?”....3
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Aim and objectives.................................................................................................................3
Project aim -...............................................................................................................................3
P2 Project management plan.......................................................................................................4
P3 Work breakdown structure and Gantt chart............................................................................5
TASK 2............................................................................................................................................7
P4 Qualitative and quantitative methods.....................................................................................7
TASK 3..........................................................................................................................................10
P5 Data analysis and interpretation..........................................................................................10
P6 Recommendations................................................................................................................21
TASK 4..........................................................................................................................................22
P7 Reflection on performance...................................................................................................22
CONCLUSION..............................................................................................................................22
REFERENCES..............................................................................................................................23
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TITLE – “What strategies of talent management do the best organisations use to
attract as well as retain people?”
INTRODUCTION
Talent management is an important part of organisation and businesses need to to manage
talent effectively so as to gain competitive advantage in market. It provides various benefits to
organisation in terms of improve productivity, long-term retention of employees, improve
engagement etc. Marks and Spencer is one among the leading organisations in United Kingdom
which was established in 1884 and provides clothing, food and home products to consumers.
This project covers aim and objectives, plan of project management along with WBC and Gantt
chart that help in designing the schedules of project activities. It also includes primary and
secondary research methods utilised in the study along with data analysis and interpretation. In
addition to this, some recommendations and reflection on the learning gain from this study is
included in the project.
TASK 1
P1 Aim and objectives
Project aim -
The aim of this business project research is “To analyse the different talent management
strategies that an organisation uses to attract and retain talent. A study on Marks & Spencer”
Objectives of research -
The key objectives associated to business research project are as follows:
1. To study and understand the concept of talent management and its significance of a
business entity.
2. To assess different challenges that Marks & Spencer face in retaining talent within the
organisation.
3. To identify the talent management strategies that required to be formulated and executed
to attract and retain talented employees to support competitive advantage of an
organisation
Project questions -
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The main questions associated with this business research project are provided below:
1. What do you understand from the concept of talent management and what is its
significance of a business entity?
2. What are the different challenges that Marks & Spencer face in retaining talent within the
organisation?
3. Which talent management strategies required to be formulated and executed to attract and
retain talented employees to support competitive advantage of an organisation?
P2 Project management plan
Project management plan is a plan that comprises of all the information associated with
project and the way the activities in the project are going to be performed. It consists of some
aspects including cost, time, scope, quality, resources, risk and communication. The project
management plan associated with the study is provided below:
1. Cost - it is the aspect which is related to the funds or amount of money invested in
particular project for gaining effective outcomes. The different types of costs related to
this project are provided below:
Particulars Amount
Cost related to managing talent £50
Resources £50
Technology needed in completing project £60
Other Expenses £60
Total Cost £220
2. Scope - the scope of this project is wide talent management is a very effective concept for
each and every organisation. Thus, it provides value in future in terms of improving talent
management within the organisation and ensuring retention of employees for long term.
3. Quality - it is the aspect related to quality of the project thus, the manager needs to to
ensure that the project must be completed with high quality. In order to ensure quality,
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researcher use highly authenticated data in the project and it is gathered through
questionnaire and interview.
4. Time - it is related to starting and finishing time of the project. To complete this project,
the estimated time decided by project manager is approximately three months and it
successful completion is also ensured by manager within the specified time period.
5. Risk - the main risks associated with this particular project includes time and money as
for completing this project in a successful manner, both these resources are very
essential. Lack of time and inadequate amount of finance main hamper the completion
time of project.
6. Resources - to complete the project successfully, various resources are needed including
technological, financial human and physical resource. Appropriate amount of finance is
necessary along with skilled team members so as to perform each activity effectively in
the project.
7. Communication - proper communication is the key to successful completion of project.
In order to ensure this, project manager use telephone and emails so as to ensure proper
exchange of information related to the project.
P3 Work breakdown structure and Gantt chart
Work breakdown structure – It is a deliverable oriented work decomposition to be
implemented by project manager for attaining the objectives of project and develop needed
deliverables. The WBC of this project is provided below:
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Gantt chart – It is a bar chart that shows the schedule of project and includes series of
horizontal lines demonstrates the amount of work done in certain time period. The Gantt chart
associated with this study is as follows:
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