Talent Management Strategies for Employee Retention

Unit 6: Managing A
Successful Business project

Table of Contents
INTRODUCTION...........................................................................................................................3
Main Body.......................................................................................................................................3
TASK 1............................................................................................................................................3
P1) Develop project aim and objectives for given scenario .......................................................3
P2) Produce a detailed project management plan.......................................................................4
P3) Work break down structure and Gantt chart to determine stages and time frame for project
completion...................................................................................................................................6
TASK 2............................................................................................................................................7
P4 Discuss quantitative and qualitative approaches of research in order to meet objective of
project..........................................................................................................................................7
TASK 3..........................................................................................................................................10
P5) Analyse data and research with the help of appropriate techniques and tools...................10
P6) Recommendations from researcher and data analysis to make necessary improvements..16
TASK4...........................................................................................................................................16
P7) Reflection............................................................................................................................16
CONCLUSION..............................................................................................................................18
REFRENCES.................................................................................................................................19
Appendices 1..................................................................................................................................22

INTRODUCTION
Small organisations play a major role in growth of overall economy. There are several
activities are performed by small scale companies that are essential to attain predefined goals and
objectives (Weber, Staub-Bisang and Alfen, 2016). Talent-management is an activity which is
performed in order to manage work force of entity in better manner. In the current report
Morrisons has been taken into consideration that is supermarket giant of UK. It is undertake in
order to analyse the impact of talent-management strategies over organisation. Here, appropriate
strategies of employment retention are also discussed in current report. It includes project aims,
objectives, research questions, methods of data collection, WBS, Gantt chart that are essential to
carry out research in effective manner. Lastly, recommendations and reflection are also included
in the following report.
Main Body
TASK 1
P1) Develop project aim and objectives for given scenario
Research title: “Talent management strategies adopted by organisation in order to retain
employees for longer run”
Research Aim: Main aim of report is to analyse the impact of talent-management
strategies within company.
Research objectives:
 To assess effectiveness of strategies of talent management.
 To formulated appropriate strategies to retain workforce within company. To identify tools and approaches of effective talent management.
Research questions:
 What is the effectiveness of strategies of talent management?
 What are the strategies used to retain employees within company? What kind of tools and approaches are used for effective talent management?
Rationale of research: This research has been conducted in order to evaluate impact of talent
management strategies that is crucial to retain employees for longer duration. With this,
researcher will be able to perform assigned task at work place in an efficient manner. It also

provide significant insights related to different tools and approaches of talent management which
will further guide researcher to prepare appropriate strategies for retaining work force.
Literature review
According to Marzagão and Carvalho, (2016), talent management is an activity that is
essential to manage work force within company in an efficient manner. It helps to hire best
suitable candidates as per the job roles and responsibilities of vacant position. This strategy also
plays a great role in retention of employees within organisation for longer run that is vital to get
competitive advantage. Here, HR manager of Morrisons adopt several strategies of talent
management in order to maintain positive environment at work place. It is analyse that with
appropriate knowledge of this approach managers are able to take proper decisions for success of
company.
According to Chad Halvorson, (2018), there are ample of tactics can used to retain
employees with organisation for longer run. Managers of Morrisons formulated appropriate
strategies that are essential to retain work force longer run. Here, they provide numerous
additional benefits to subordinates such as incentives, extra pay, recognition, rewards and more.
These are helpful to motivate employees so that they stay with organisation for longer period of
time.
According to Nick Day, (2020), approaches of talent management are essential to attain
predefined goals and objectives. Different approaches such as recruitment, selection, staffing are
used by managers of Morrisons with an aim to apply talent-management practices within
organisation. Here, they provides numerous opportunities of development and growth to work
force by arranging proper training program for them.
P2) Produce a detailed project management plan
Project management plan is a detailed plan that consist several steps, activities as well as
procedure which need to follow by researcher in order to attain predefined goals. Here,
appropriate strategies are prepare which is crucial to ensure long term growth and success of
company (Schulenkorf, 2017). In reference of Morrisons, they prepare a detailed project plan
which includes several components such as scope, quality, resources and more. These variables
are discussed in detail as under:
Scope: It is analysed that talent management strategies adopted by Morrisons will put a
substantial impact on its overall growth and success. It has a wide scope to create positive

environment at work place which will further help to retain employees with company for longer
run. With this, organization will be able to formulate necessary strategies and plans to manage
talent at work force effectively.
Time: In this, time frame is determined under which a project need to be completed. It is
essential to attain predefined goals of research in stipulated period of time. For present project
manager will be require time period of 11 weeks in order to complete it successfully.
Budget: It refers to the anticipations regarding future expenditure so that available funds
can be used in an efficient manner. For the purpose of current report, budget including different
research expenditure is given as under:
 Task to perform  Expenditure (Pound)
 Examination issues  7000
 Plan development  13000
 Research Analysis  20000
 Salary of researcher  15000
 Miscellaneous expenses  25000
 Expenses of execution  30000
 Total Amount  110000 £
Communication: It is a two way process in which necessary information is transmitted
between sender and receiver that is essential to minimize ambiguity and maintain positive
environment at work place (Shim and Lee, 2019). Here, it is the responsibility of researcher to
convey necessary information to several individuals who are involved in research. They can
convey information through text, emails and other ways.
Risk: There are huge risk and uncertainties are associated with a research project which
need to be address in a proper way in order to prepare appropriate strategy. It is analysed that
business environment is dynamic in which numerous changes are take place on regular basis.
Each and every project is undertake with an aim to attain predefined objectives but sometimes, it
may fail to produce desire results. In addition, different activities of talent management like

motivating, staffing, selection not only human resource department but also put a significant
impact on other divisions of organisation.
Quality: It is essential to maintain the quality of outputs and results of research
throughout the project (Cho and Kim, 2017). For this, researcher is required to gather data &
information from authentic sources. Whether primary or secondary data should be collected with
due consideration from reliable sources in order to draw meaningful conclusion.
Resources: There are several resources are required to complete a project in predefined
time frame. There are different kind of tools of data collection and analysis are required by
researcher. In addition, proper funds need to be arrange to undertake different activities of
research.
It is analysed that above stated components are significant to achieve predefined project
goals and objectives. These components of PMP will help to complete assign project in effective
manner. Here, researcher is responsible to determine scope, quality and resources that will be
require for project in order to complete it successfully.
P3) Work break down structure and Gantt chart to determine stages and time frame for project
completion
There is proper time is required to complete a project in predefined manner. Here, several
steps are also followed by researcher in order to accomplish project goals. There are several tools
are used by investigator during research that are WBS and Gantt chart. These are consider as
most appropriate tools to conduct research in proper manner. Both tools include several steps and
activities that are essential to achieve predefined results (Moran, Burson and Conrad, 2016).
Here, Managers of Morrisons undertake below mentioned tools to accomplish desired project
goals.
Gantt Chart: In this, several activities related to project is scheduled in effective manner
with an aim to complete assign project in stipulated time frame. It is prepare for all kind of
projects regardless their size and scope. Here, necessary information such as timeline,
dependencies, deadlines are present in graphical manner thus it is easy for researcher to get
necessary information. This tool provides a great help to investigator by demonstrating necessary
project information in simple way. With this, it reduces down project complexities and provides
ease to researcher. In context of Morrisons, managers is responsible to analyse statistics, data of
Gantt chart that will help them to arrange necessary resources, funds so that project can be