Managing Talent for Employee Retention: A Study on Morrison
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This document focuses on the importance of talent management in retaining employees within the company. It includes aims and objectives, research questions, project management plan, work breakdown, primary and secondary research, data analysis, and conclusion. The study is based on Morrison, a large retail company in the UK.
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UNIT 6- MANAGING A SUCCESSFUL BUSINESS PROJECT
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Table of Contents Table of Contents.............................................................................................................................2 LO 1.................................................................................................................................................3 P1 Aims and objectives...............................................................................................................3 P2. Project management plan......................................................................................................4 P3. Work breakdown and Gantt chart.........................................................................................5 LO 2.................................................................................................................................................7 P4. Primary and secondary research...........................................................................................7 LO 3.................................................................................................................................................9 P5. Data analysis.........................................................................................................................9 P6. Conclusion and recommendation........................................................................................14 LO 4...............................................................................................................................................15 P7. Reflection............................................................................................................................15 REFERENCES..............................................................................................................................17 APPENDIX....................................................................................................................................18 Questionnaire............................................................................................................................18
LO 1 Background Talent management is defined as the keeping the employees within the company happy and satisfied. This is essential for the company as if the employees within the company will not be happy and satisfied then this will affect the working of the company (Taylor, 2018). Even this can result in high employee turnover the major reason for this is that if employees are not satisfied then they will try to leave the company and go to some other company. Hence, this will result in decrease in number of employees within the company and with this the motivation amongtheemployeeswillalsodecrease.Formanagingthissituationtheuseoftalent management strategies will be undertaken in the research. The current study is based over company Morrison which is a large chain of retail company in UK. The company was founded by William Morrison in the year 1899 and is headquartered in Bradford in UK. The current research will list out the use of effective talent management strategies within the company for retention of employees. The present research will list out the different strategies which will be assistive in managing talent within the company and try to retain that talent for a longer time frame. P1 Aims and objectives Aim “To analyse the best strategiesof talent management which assist company in retaining employees within organization. A study on Morrison.” Objectives To articulate the concept of talent management. To evaluate the importance of talent management strategies in retaining employees within company. To examinethe various challengesfaced by Morrison in managingand retaining employees with help of talent management strategies To recommend some of the strategies to Morrison in effectively using the talent management strategies for purpose of retention of employees. Research question 1.What is the concept of talent management?
2.What is the importance of talent management in retention of employees? 3.What are the different challenges faced by company in retaining employees? 4.What are some recommendations for improving the retention of employees within the company? Rationale The major reason for the use of strategies of talent management is that this is the latest issue which is faced by many of the companies in current competitive world. This was the major reason for conducting the study over the talent management strategies. This will assist the company and other competitors to identify that which strategies are best for the company in retaining the employees. Further this research topic was of personal and academic interest of the researcher as well. P2. Project management plan The project management plan has high essential role for gaining success within longer run that covers aims and deliverables, time, quality parameters and communication, risk and resources which enable to deliver working goal advancement. It will also enable management to deliver quick growth working operations with smart innovation of working efficiency for leveraging goals advancement within longer run, and also to be focused on keeping up with new growth targets. As research is based on analysing various talent strategies do best companies use for attracting, retaining people within longer time run and alsoto evolve with new productive scenarios. Project management plan integrates wide communication metrics and focus on new potential growth areas where quality factors are succeeding with smart productivity goals (Bočková, Škod. and Lengyelfalusy, 2019).Quality parameters will be taken special care during project research where stakeholders within company shall be authentically without any bias will be researched on to get results analysed.The project will be conducted in 6 months time period where management target will be done to keep focus on producing best services,with high quality data record and also to integrate larger goals development.Project management plan shall be also focusing on determinants such as communication goals among involved internal and external parties, who communicate vision and also display wide functional scenarios onto how varied news steps shall be taken place.The risk of resources and time factor will be taken care of widely onto bringing varied growth aspects, where procedures of fixing resources of production and new competitive business standards are worked on. Risk factors also highly
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important to be analysed onto varied scales, within functional parameters for navigating wide new profit scenarios in longer time run. The project will be searching varied new growth operational innovation where dynamic working situations will be analysed, to leverage new functional synergy for effective targeted growth for research project to be successful. It is also integrated with vision for communicating effectively varied new research horizon that will be taking shape, and to keenly function on bringing on new quest goals for successful results within project. The project management plan is also highly effective to analyse that research will be done in formatively effective way and also to focus on, new scenarios where best working operations shall be taken care of within larger new metrics. There will be keen goals focused on to complete project in targeted time period of 6 months, and to focus on determining success in keeping stakeholders work record effectively in longer run. It will also keenly determine new success measures to be obtained widely and also to enhance new quest goals, for researching highly reliable and relevant standards on communicating accurate data and also to be foremost active on using new working horizons. This is also primitively focused to use correct accurate data for researching reliable data which are authentic, communicating vision and longer time synergy which will potentially also focus on generating effective data (de Melo, Salern and Brasil, 2020). P3. Work breakdown and Gantt chart Task ModeTask NameDurationStartFinishPredecessors Auto Scheduled selecting the topic and framing aim and objective4 daysWed 10/28/20Mon 11/2/20 Auto Scheduled making project management plan6 daysTue 11/3/20Tue 11/10/201 Auto Scheduled review of different literature8 daysWed 11/11/20Fri 11/20/202 Auto Scheduled listing out methods of research10 daysMon 11/23/20Fri 12/4/203 Auto Scheduled framing of the questionnaire5 daysMon 12/7/20Fri 12/11/204 Auto Scheduled providing questionnaire to respondent6 daysMon 12/14/20Mon 12/21/203,5 Auto Scheduledcollecting the data10 daysTue 12/22/20Mon 1/4/216 Auto Scheduled interpreting the collected data15 daysTue 1/5/21Mon 1/25/217
Auto Scheduled concluding and recommending4 daysTue 1/26/21Fri 1/29/218 Auto Scheduleddoing formatting5 daysMon 2/1/21Fri 2/5/219 Auto Scheduledfeedback6 daysMon 2/8/21Mon 2/15/2110 Auto Scheduled making changes as per given feedback3 daysTue 2/16/21Thu 2/18/2111 Auto Scheduledsubmitting final research1 dayFri 2/19/21Fri 2/19/2112
Work breakdown structure LO 2 P4. Primary and secondary research Secondary research From the view ofKrishnan and Scullion (2017)talent management is a concept which states that motivating and influencing employees is the most important aspect in the management of company. The major reason for this is that when the employees are happy then they stay connected with the company for a longer timeframe. On the other sideClaus (2019)states that talent management is important for the use of retention of the employees. The major reason is that use of talent management includes motivating the employees by providing different motivators. This then influences and motivates employees to stay connected with the company for a longer period of time. Another major importance is that this motivates other employees as well. This is particularly because of the reason that if one employee gets appreciation then this motivates other employees as well to get the motivators. Research methods
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Research type:There are two types of research types which are quantitative and qualitative where the quantitative research focuses on presenting numerical, figurative data which are presented in mathematical format and are also complicated to understand. On other hand the qualitative research is based on theatrical data which are presented in easy format and are also widely communicated in easy format. For this research well be using qualitative research type. Research approach:There is inductive and deductive approach where inductive approach is qualitative format and also in theatrical format, which is widely used for common effective usage of information the deductive approach is numerical and rationally also potentially lessens working scenario, where it is comparatively hard to understand. For this research project well be using inductive approach. Research philosophy:Interpretivsism research philosophy is qualitative format and also worked on to focus on present theatrical data which makes understanding clear to understand and analyse further onto wider domains. The positivism on other hand is quantitative philosophy where data presented is in numerical format and also potentially complex to understand.For this research project interpretivism research philosophy will be used (Kerzner, 2019). Data collection:The primary data collection method is based on collecting data directly from source which is nearby and also functionally active to be highly authentic; the secondary research on other hand is second hand. Secondary information is less reliable and authentic, as it is collected from web pages and mostly websites through internet which lessens the direct connection from correct source. For this research primary data collection method will be used. Sampling:Purposive sampling is defined as unique technique where researcher chooses samples from larger population, using methods based on theory of probability standards and the non purposive sampling is reverse and also probability functional parameters are low. In this research project sampling will be done in non purposive format. There will be sample taken of 20 people at Morrison for data analysis and gaining results from them, to make sure that results are unbiased. Ethical considerations:There will be focus onkeepingall resources authentic for informationanalysiswheredeclarationformswillbegetsignedby employees at Morrison Company to get their consent. This willensurethat no delay shall be caused and also widerdomainsexpertiseshall be used to make sure noplagiarismis there.
Reliability and relevance:The reliability and relevance of all information used within research will be highly taken care of, where focus is developed on using correct information widely and also developed new growth among widerareaswithinresearch.Itwillbealsoactivelyexploringtechnical informationand data where all authentic details will be taken care of (Lock, 2020). Limitations:The research is limited to only Morrison company and within retail industry, where limited new growth goals are there to beresearched on which will also limit potentialworkingscenarios. The data used within researchis also limited explored with constraints of time and resources LO 3 P5. Data analysis Theme 1: Awareness relating to concept of talent management. Interpretation- from the primary research conducted over 20 respondents from Morrison it was found that majority that is 50 % are aware of concept of talent management. The major reason for this is that this is the latest issues which company faces and which is important for success of the company. On the other side some of the participant are either disagreeing or are neutral relating to the awareness of talent management. Theme 2: Yes, use of talent management assists company in managing talent in company.
Interpretation- with the results of the primary survey conducted it was identified that maximum of participant that is 80 % assents to the fact that talent management help company in managing talent in company. As supported by literature review it is because of the fact that talent management is important in attracting employees can stay connected with the company for a longer period of time. However, remaining 20 % of participant does not agree to this fact. Theme 3: All of the above is the major impact of high turnover of employees within the company. Interpretation-as per the responses provided by the 20 participant it was evaluated that the majority of respondent that is 70 % agrees to all of the above. This all of the above includes three impact of high employee turnover on company and its working. This includes decrease in productivity of employees, low motivation among the employees and the decrease in goodwill. Maximum of employees agrees to all of the above as this includes major reason and remaining
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employees agrees to these facts on individual basis. For instance some respondent agrees to decrease in productivity and some with decrease in goodwill and some with low motivation of employees. Theme 4: Positive is the impact of using the talent management strategies on productivity of company. Interpretation- as per the survey conducted over 20 respondents from Morrison it was found that the impact of talent management is positive over the working of the company. This was agreed by 65 % of the respondent as they think that using talent management is helpful in motivating the employees to stay connected with the company for longer and earn good amount of knowledge and money. Further some of the participant that is 25 % states that there is no impact of using talent management as if employees have to work in company then they will work in any condition and if they have to leave the company then they will leave despite of all perks and benefits. Theme 5: Retaining talented employee is the major importance of using talent management strategies at time of retaining employees.
Interpretation- with the assistance of conducting the survey it was interpreted that the major importance of using talent management as agreed by 65% of the respondent is retaining talented employees for longer. This is particularly because of the reason that when the talent management is used the major aim of this is to keep employees retained within the company. Thus, this is done with help of providing better growth opportunities and motivators for employees to grow. But on the other side some of the respondent states that motivating employees is the major importance of using talent management (Khilji and Schuler, 2017). However, in against of this some of the respondent states that providing compensation to employees is the major importance of using talent management for company. Theme 6: Yes, there are strategies which are helpful in retaining the talent in the company.
Interpretation- with reference to primary research conducted it was found that the majority of participant that is 78.9 % of the respondent agrees that there are strategies for managing and retaining employees within the company. These strategies assist company in providing better working culture to the employees so that they are comfortable working in the company. On the other side remaining respondent does not agree to the fact that there are strategies which are helpful in managing talent within the company. Theme 7: All of the above are the various strategies helpful for company in managing talent within company. Interpretation- as per the views of maximum of participant from the primary research it was seen that 50 % agrees with all of the above. The all of the above includes three strategies that is providing clear job description, providing rewards and recognition and timely feedback to employees. This is the major strategies of attracting and retaining talent in company for longer period of time. This is because of the reason that if job description is clear then employees clearly knows what they have to do (Scullion and Mullholland, 2020). In the same manner is rewards are being provided then this will motivate employees to work in more effective manner. But some of the respondent agrees to all these fact on individual basis. Theme 8: High employee turnover is the main challenge which company faces in managing talent at the workplace.
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Interpretation- in accordance with the views of majority of participant that is 55 % it was agreed that high employee turnover is the major challenge in managing talent within the company. The major reason is that competition within the business environment is very high and because of this employees can go to other company as well. On the other side some of the respondent agrees to the fact that lack of leadership is major challenge and some states that less growth opportunity is the major challenge. Theme 9: Some of the recommendation for improvement of the strategies of managing talent in the company. P6. Conclusion and recommendation Conclusion From the above whole discussion it was found that managing talent is the most essential aspect for company in this current competitive world. The major reason for this is that the competition in the business world is high and if employees do not get much appreciation in one company then they switch over to another company. Hence, for this the most essential thing is to manage the talent in such a manner that it does not go to some other company. The current study first provided the aim and objectives of the study on which the whole study was directed and based. Further with help of the project management plan the time, scope, resources, risk and other things were outlined. Further with the assistance of the research methodology section it was identified that the use of qualitative research is more beneficial in case of the developing in depth knowledge relating to talent management strategies. In addition to this with the help of data analysis section of the study it was identified that using the different talent management strategy is helpful in
managing the working and productivity of the company to a great extent. This is particularly because of the fact that use of talent management strategies will be assistive in motivating employees to work in the same company for a longer period of time. Recommendation From the above discussion it is clear that there is a requirement of improving talent management strategies within the business. Hence, for this some of the major recommendations for Morrison are as follows- The first recommendation for Morrison is to set the goals by keeping in mind the capabilities of the employees. The major reason is that if the company set high goal and if employees are unable to attain them then the employees get demotivated. Another major recommendation for company is that they must provide time to time appreciation and financial and non- financial motivators. The major reason is that all these appreciation and motivators will influence the employees in positive manner and this will enhance the performance of employees. LO 4 P7. Reflection While working in this research project i came across various new information’s and data of learned findings which enabled me to learn varied new trained growth opportunities within future for professional excellence. The project also stated working objectives of researching effective data, new vision goals and for generating larger efficiency standards to bring on working efficiency. Experiences within learning and performances have been build on new productive opportunities, where project made me learn varied new researching skills and analytical data information to keep up with my work records effectively. It also measured new working horizons for communicating vision of stakeholders who supported me, group mates whereworkingwiththemilearntvariousnewtimemanagementskillsandconfidently contributing to all parameters. Here there is appraisal of various new pertaining focused synergy to work with newworking scenarios, for productivelybuilding on my project management skills which has also functionally developed me to be active towards various researching skills widely (Ershadi, Edrisabadi and Shakouri, 2019).The project also broadly made me competent to work on new project findingsand determining new horizons, to manage various innovations
onto wider domains strategically. The project performance made me realise where i am weaker at present, which are skillsof communication and new records developing for keeping up with project researching which will primitively help me to analyse mywork records wellwithin academic and professional behaviour. This research project helped me to broadly also think on major new phenomenon of larger efficacy at working scenarios, to manage work with high quality reliability in data and to build vision for more effective performance. It has also potentially made me think critically and innovatively on new ideas to explore on various new research goals and also to yield focus to yield varied networks. The project research also developed my potentialities within business scenarios and how training, talent management are one of the most important arenas to functionally enhance business performances. There is also development onto varied new scenarios of innovation, keen ideas development and ideas goals formulation for researching ideally where my working scenarios were analysed widely to determine new growth goals in future. I also learnt immense importance of working with cooperation and wider domains specialisation within projects completion where i was able to inculcate high practical communication skills and also explore varied new scenarios majorly (Hasan, Rameezdee. and Baroudi, 2019).The project management also communicated varied new scope measures of larger work goals, strategically focusing on training by supervisors and also to learn new measures at future for more evocative performances I in detail learnt higher determinants scoped onto how essentially it is imperative to train employees for companies in future and to strategically gain new innovation at larger domains. Project management has been also developing higher new functional efficiency for smart work performances in academics and professional work behaviour, for acknowledging new domains expertise and also to reach higher targets by planning on work structure within future goals on wider specialised working parameters.
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REFERENCES Books and Journals Bočková, K.A.T Škoda, M. and Lengyelfalusy, T.O.M.Á., 2019. Project Management And Its Aspects In Global Organisation: Case Study.Journal of Financial Economics. 1(1). pp.39-58. Claus, L., 2019. HR disruption—Time already to reinvent talent management.BRQ Business Research Quarterly.22(3). pp.207-215. de Melo, J. C. F., Salerno, M. S., and Brasil, V. C., 2020. From open innovation projects to open innovationprojectmanagementcapabilities:Aprocess-based approach.International Journal of Project Management.38(5). pp.278-290. Ershadi,M.J.,Edrisabadi,R.andShakouri,A.,2019.Strategicalignmentofproject managementwithhealth,safetyandenvironmentalmanagement.Built Environment Project and Asset Management. Hasan, A., Rameezdeen, R. and Baroudi, B., 2019. Empirical study on implications of mobile ICTuseforconstructionprojectmanagement.JournalofManagementin Engineering.35(6). p.04019029. Kerzner, H., 2019.Using the project management maturity model: strategic planning for project management. John Wiley & Sons. Khilji, S.E. and Schuler, R.S., 2017. Talent management in the global context.The Oxford handbook of talent management, p.399. Krishnan, T.N. and Scullion, H., 2017. Talent management and dynamic view of talent in small and medium enterprises.Human Resource Management Review.27(3). pp.431-441. Lock, D., 2020.Project management. Routledge. Scullion, H. and Mullholland, M., 2020. Global Talent Management.The SAGE Handbook of Contemporary Cross-Cultural Management, p.212. Taylor, S., 2018.Resourcing and talent management. Kogan Page Publishers. Online LinkofquestionnaireonGoogleforms https://docs.google.com/forms/d/1fQ0ytQEhdUtf7HqHIZDP74VTyXTJY_AJ_YXa4C YcRFw/edit#responses Linkofspreadsheet https://docs.google.com/spreadsheets/d/1dZ5OKpfxLzE79zop0xAhB_CUunhAb47_yD n-Z-i2tds/edit#gid=649203348
APPENDIX Questionnaire Name: Age: Gender: 1.Are you aware of the concept of talent management? Strongly agreed Agreed Neutral Disagreed Strongly disagreed 2.Does the use of talent management help company in managing the talent within the company? Yes No 3.What is the major impact of high turnover of employees over the working of company? Decrease in productivity of employees Low motivation among employees Decrease in goodwill All of the above 4.What is the impact of using the different talent management techniques over productivity of company? Positive Negative No impact 5.What is the importance of using the talent management strategies at time of retaining employees? Motivate employees Retaining talented employees for longer Providing effective training
Providing compensation to employees 6.Are there any strategies assistive in managing and retaining talent within the company? Yes No 7.What are the different strategies which company uses for managing talent? Providing clear job description Providing proper rewards and recognition Timely feedback to the employees relating to their performance All of the above 8.What are the major challenges are being faced by company in managing talent at workplace? High employee turnover Lack of leadership Not good culture of company Less growth opportunities 9.What are some of the recommendation for the improvement of strategies to manage the talent at workplace in much better manner?