Talent Management Strategies for Attracting and Retaining Employees

Unit 6: Managing a
Successful Business
Project

Table of Contents
Title..................................................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Devise project aims and objectives for chosen scenario........................................................1
P2 Produce a project management plan that covers aspects of time, quality, scope, cost, risk,
communication and resources......................................................................................................4
P3 Produce a work breakdown structure and Gantt chart to provide time frames and stages for
completion...................................................................................................................................5
M1: Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project........................9
TASK 2..........................................................................................................................................10
P4 Carry out small-scale research applying primary and secondary methods for the purpose of
meeting project aims and objectives..........................................................................................10
M2: Evaluate the accuracy and reliability of primary and secondary methods applied............14
TASK 3..........................................................................................................................................14
P5 Present findings and data using appropriate tools and techniques.......................................14
P6 Communicate and recommendations as a results of findings and analysis to draw valid and
meaningful conclusions.............................................................................................................23
COVERED IN PPT.................................................................................................................23
M3: Evaluate the selection of appropriate tools and techniques for accuracy and authenticity
to support and justify recommendations....................................................................................23
TASK 4..........................................................................................................................................24
P7 Reflect on the value of undertaking the project to meet stated objectives...........................24
M4: Evaluate the value of the project management process to meet stated objectives and
support own learning and performance.....................................................................................24
CONCLUSION..............................................................................................................................24
REFERENCES..............................................................................................................................25
APPENDICES 2............................................................................................................................27
Performance Review Template..................................................................................................31

Title
“To study about talent management strategies used to attract and retain employees for
long run ”.
INTRODUCTION
Talent management is the most important aspects for any business as it needs employees
who have good knowledge and skills in order to perform their roles and responsibilities
effectively. This is the organizational strategy by involving attraction, recruitment, development
of people, and retaining the employees. This is important for each industry to have good talent
and skills of employees who analysis the requirement of organization and provide them right
benefits (Almohtaseb and et.al., 2020). The management and leader of industry should be
formulate all regulations and policies which are important to develop the business and
productivity. To understand about talent management Sainsbury has been chosen that is large
size British super market chain providing range of products and services at different places. The
report involves aims, objectives, and time frames which are uses to complete project. The report
also involves small scale research, project and communication appropriate recommendations and
reflection.
TASK 1
P1 Devise project aims and objectives for chosen scenario.
Overview of Sainsbury
Sainsbury is the second largest chain of supermarket which was founded in 1869 by
John James Sainsbury. The headquarter in London, England, UK. This is retail sector
organization that offers range of products and services that influence number of customers and
increasing brand image. This the second largest super market chain in the UK that understand
the needs of customers with the help of talented employees and increase the productivity. The
management of such organization conduct the environment analysis and provide the products
accordingly which can help to attain the higher productivity and competitive advantages.
Rationale of Project
Each workplace needs employee for the purpose of understanding organizational goals
and giving their contribution to complete the task. Talent management is the main activity of
company which use by HR department by recruiting skilled and experienced people that work
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perfectly. The rationale of conducting research or completing project is to increase the
understanding about talent management and strategies of retaining employees at the workplace.
This area of research will help to improve skills and knowledge in particular field that would
provide good opportunities in upcoming period. As a research all areas will be research and
manage the activities by allocating the work between team member (BHATT and SHARMA,
2019).
Project Aim
“To determine the talent management strategies that are used by company to attracts and retain
employees for long run”. A study of Sainsbury.
Project Objectives
 To determine the concept of talent management strategies in context to Sainsbury.
 To examine the talent management strategies that are used by company to retain
employees for long run.
 To assess the challenges faced by Sainsbury while implementing certain talent
management strategies.
Project Questions
 What is the concept of talent management strategies in context to Sainsbury?
 What talent management strategies used by Sainsbury to attract and retain employees for
long run? What challenges or problems faced by company while implementing talent management
strategies at their workplace?
Literature Review
The concept of talent management strategies in Sainsbury.
As per view point of Paadi (2019), A process of identifying needs, recruiting, selecting,
directing and getting the work done from employees is talent management. A HR management is
responsible for all functions and talent management strategy as it identify the vacant position and
make efforts to fill them by selecting the best employees. Talent management strategy is
consider as plan of action which use by organisation to optimise employee performance. This is
main function for each organization to focus on talent management strategies as it attracts large
number of employees and developing their skills by providing them training and educational
programme. In relation to Sainsbury, a leadership process that enables the company to identify
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and manage employees competencies and skills totality in order to ensuring business success is
defined as talent managing strategy. The management should be focuses on talent management
strategy and its process as it help to attaining the business goals by getting work done from
employees. This is important for each organization to have talent management as it brings the
skilled staff who works in the organization by using their skills and talent in expectation of
accomplishing personal as well as professional goals. This also helps to increase the productivity
and profitability as employees works effectively.
Talent management strategies used by Sainsbury to attract and retain employees for long run?
According to Fan (2019), strategies in relation to recruitment and retaining employees are
important as it supports employees to perform their roles and responsibilities effectively. If
strategies are followed properly then it will be opportunity to grow their business. The strategies
of talent management which used by Sainsbury are recruiting talented staff, recognising to
organization culture, placing right employees at right place, providing compensation and
benefits, motivating employees, and giving rewards for their well performance which can help to
influence the number of employees and increase the business productivity. By recruiting skilled
employees it become easy for organization to attain their goals and objectives. Motivation and
rewards are effective strategies which use by management to attracts and retain the employees
for long period of time as they feel satisfied and happy to work here after receiving rewards.
The challenges or problems faced by company while implementing talent management
strategies at their workplace?
As per view point of Hill (2019), problems arises at the workplace due to adopting talent
management strategies are conflicts between employees, tightening talent market, lack of
leadership, lower organizational productivity and profitability. If company does not follows any
regulations and not providing training to employees then productivity will be decrease. In
relation to Sainsbury, employer face lower productivity, lack of leadership, feeling pressure, high
employee turn over and competitor that affects the business negatively. As employer does not
provide training to their staff and introduces new changes that affected the organization
negatively and reduced the business performance. The management should use the strategies by
sharing with employees and motivating them that can help to retain for long period.
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P2 Produce a project management plan that covers aspects of time, quality, scope, cost, risk,
communication and resources.
Project management plan is considered as formal document or paper in which all
explanation about project is mentioned as it states how project going to be carried out. The
project management should be analysis all function and activities which are important to
complete the research. A project plan may involve scope, goals, timeline, budget, and objectives
of the particular study that can help to increase the skills and abilities to handle the problems. In
other words, a project plan is mainly uses to regulate and operate the business functions and
attaining the competitive advantages. To complete any project there is need to focus on different
aspects such as:
Cost of the project: This can be explained as process of estimating, budgeting,
managing and controlling the cost of particular project which can help to develop the
organizational performance. To start and running any activity cost is needed to analysis which
used to be done by management by preparing the budget. In other words, project cost
management is the process of estimating, budgeting, and controlling the cost throughout the
project life cycle, with the object of keeping expenditure in approved budget (Madan and Madan,
2019). The researcher has prepared the cost of their project in relation to talent management that
is described below:
Activities Estimated costs
Project management fees £500
Analysing and survey for specific topic £300
Conducting interview and selecting best talent £400
Assessment of information and data £200
Using the instrument for survey £100
Transportation cost £500
Miscellaneous £500
Total £2500
Scope of project - The scope of the current project in relation to talent management is
greater as it develop the understanding and knowledge in particular field. In this, management
contribute by conducting research and gathering the informations. This research will help to
know about talent management and its importance that can be used to develop the business
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productivity. By working in this project, individual develop their own skills and abilities to work
properly (Khan and et.al., 2019).
Time scale - This refers as time period which use by individual to complete any task.
This is important for all to focus on time aspects and manage the each activities. In other words,
time scale is the ability to plan and organise the time spent on activities in a day. This is
important for each person to understand the task and give their efforts to complete it correctly.
The researcher has explained that managing and retaining talent management task will be done in
4 month that would develop business performance.
Quality – Quality matters a lot for each person as it supports to make the right decision
regarding particular task. This is important for individual to analyse the quality and bring the
changes in their performance. The project manager in relation to talent management project will
focus on quality by researching current market that can help to develop the business
performance. The researcher has decided to use primary and secondary method of data collection
that can help to manage project and complete it effectively (Atrizka and et.al., 2020).
Communication - To working on project and completing any task there is need to have
clear communication as it helps to develop the each activity. Different tools and technique uses
by individual that can help to share thoughts and ideas for managing good performance. To
understand the task of talent management and strategies researcher will use phone calls, video
call, messaging, and others that can help to develop understandings (Srihandayani and Kusnendi,
2020).
Risk - This can be explained as uncertain aspects or uncertainty that can happen any
time and affected the organizational performance. This is needed for everyone to focus on task
and evaluate risk which arose while working. It has seen that profitability and productivity of
organization can be reduce in case of risk identified by management. This activity is use by
researcher to analyse the risk which is involved with project and bring the solution that can help
to maintain the sustainability (Akter and et.al., 2019).
P3 Produce a work breakdown structure and Gantt chart to provide time frames and stages for
completion.
Work breakdown structure – This can be explained as simple framework which use in
project management for the purpose of completing a complex, multi step project. As the name
suggest in work break down structure all longer activities will be divided in to smaller as it can
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