Challenges and Importance of Talent Management in Retail Sector - Case Study of M&S

Talent Management
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Table of Contents
INTRODUCTION ..........................................................................................................................3
LO1..................................................................................................................................................3
P1- Aim and Objectives...............................................................................................................3
LITERATURE REVIEW ...............................................................................................................4
Talent management importance within business ........................................................................4
Challenges faced by companies from talent management practices............................................4
Strategies to overcome from the talent management challenges.................................................5
P2 project management plan .......................................................................................................5
P3- WBS and Gantt Chart ...........................................................................................................6
LO2..................................................................................................................................................8
P4 Research Methodology ..........................................................................................................8
LO4................................................................................................................................................10
P5 data Analysis and findings ...................................................................................................10
P6 Recommendations.................................................................................................................19
LO4................................................................................................................................................19
P7 Performance review and logbook ........................................................................................19
CONCLUSION .............................................................................................................................20
REFERENCES..............................................................................................................................21
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INTRODUCTION
Aim of the study is to identify key challenges and obstacles facing Retail sector of UK in
terms of talent management. Every organisation recruit and hire talented and experience people
to make their workkforce strong and effective within retail sector. For that they apply various
types of recruitment strategies. It is because strategy enable in hiring right candidate for right job
role Strategies like Reward management, training and development etc. Moreover, staff must
possess relevant skills and knowledge so that job roles are performed by them (Bailey,Jones and
Rosen Baugh., 2018). They need to retain and attract a lot of people so that goals are attained
like increase in growth, productivity and increase in sales. However, retaining of staff is
necessary as it helps in gaining competitive advantage in industry and also positive culture is
developed. The use of strategy depends on company needs. Moreover, concept of talent
management consists of many things such as hiring, motivating, performance appraisal,
retention, etc. of staff. So, it is responsibility of HR to apply different practices of talent
management. Besides, it is important to attract more people as it brings in new talent and
creativity within the retail industry of UK.
This research project will cover case study of M&S which is one of the leading organization
within retail industry. Researcher will discuss importance of Talent management within the
company and how it can help M&S to lead the market and take competitive advantages.
LO1
P1- Aim and Objectives
Rationale
The main objective behind conducting this research is to identify the importance of the
talent management within the Retail industry. Employees are most important part of the
company but having a skilful and talent employee can become the reason behind company's
success (Gordwin, 2021). HR department who are responsible to retail talent within the
organization should attract and retain the high quality employees so companies within this
industry can achieve success. This research outcome will provide benefits of talent management
and how HR department of M&S can achieve success thorough talented workforce. Reason
behind choosing the particular topic is to identify the challenges that are faced by M&S and how
they van overcome from the challenges.
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Aim- The key challenges and obstacles facing Retail Sector of UK in terms of talent
management- Case study of Mark's and Spacers
Objectives
 To understand the concept and importance of talent management
 To Identify Key challenges and obstacles faced by Retail sector related to talent
management
 To recommend strategies and ways to overcome challenges
Research questions
 What is the importance of talent management in organization?
 What are challenges and obstacles faced by business in talent management?
 Strategies to overcome from the challenges and improvement in talent management
practices ?
LITERATURE REVIEW
Talent management importance within business
According to the Whysall, Owtram and Brittain. (2019) Talent management is important
for the organizations within the retail industry to get skillful and talent employees and make their
workforce strong What is Talent Management? All You Need to Know to Get Started (2020).
However, in a argument Tafti, Mahmoudsalehi and Amiri. (2017) Talent management
implementation have proper process that should be followed by the Human resource department
otherwise it can be ineffective.
Challenges faced by companies from talent management practices
As per the view of Johennesse and Chou., (2017) There are various challenges and
obstacles from the talent management like Poor hiring strategies, poor leadership can result in
failure in implementing talent management practices.
In a argument Ali and Guha. (2018) believe that there are some strategies that can be
useful for the organization to overcome from the problems like taking advice from experts,
following proper process etc.
Strategies to overcome from the talent management challenges.
According to the Krishnan and Scullion. (2017) some of the strategies that can be used by
the organizations to overcome from the talent management challenges like improvement in
leadership, skill based training to employees.
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P2 project management plan
A project management is the formal document that helps to define how the project is
going to be carried out. It covers elements like project time, budget, goals, scope, timeline and
deliverables of the project management plan and its essentials for a project on track
Cost
Project cost are the funds that are needed to the project managers to create budget for
their plan. Project manager make an estimated budget by using the funds and cover the cost of all
the activities that will be done on the basis of cost. To conduct whole project estimated cost will
be $4450.
Scope
The scope of this research will cover only The key challenges and obstacles facing Retail
Sector of UK in terms of talent management. (Iarygina., 2019). Further the research will be
solely based in UK only.
Time
Time is most important factor in the project management plan and project manager have
to ensure that how many times project could take to complete. To complete this project, project
manager will take around 5 weeks and 36 days in total.
Quality
Quality in the project plays most significant role to deliver the project objectives and
goals. To ensure the project quality, manager will use quality management tools like Flowchart,
Histograms etc. To provide the best possible quality to the project primary research methods will
be used and Questionnaire will helps to provide appropriate result as a outcome of the research.
Communication
Communication within the project is necessary to make it successful and project manager
should ensure that each and every stakeholder of the project should have communication
between them, so they can share the detail and ensure the project goals.
Risk
There are various risk factors that can affect the project and make it fails so project
manager will identify the risk factors that can affect the whole project, so they can reduce the
likelihood of the risk like Errors in information, lack of resource etc.
Resources
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The resource basically signifies the assets that will be required by the researcher and
includes the technological or human resource assistance that will be necessary to complete the
current research successfully (Ika, Söderlund, Munro and Landoni., 2020).
P3- WBS and Gantt Chart
Work Breakdown Structure
The work Breakdown Structure is the project management tool that helps project
manager in getting a proper step. it can be followed project manager in their project plan done
successfully and project team can accomplish the goals and objectives of the project plan.
Project Gantt Chart
Project Gantt Chart is the most important tool that is used by the project manager to
assisting in the project planning and scheduling of the project size and make the complex project
simpler and arrange the activities within the whole project plan (Johnson, A. B., 2019). Gantt
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