Managing a Successful Business Project: Talent Management Strategies for Employee Retention in Tesco

Unit-6 Managing a
Successful Business
Project

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Aims and objectives..................................................................................................................1
Project management plan.........................................................................................................4
Gantt and work breakdown structure....................................................................................5
Small scale research..................................................................................................................7
Interpretation and findings......................................................................................................9
Recommendations...................................................................................................................14
Reflection.................................................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

INTRODUCTION
As businesses are expanding as well as competition is rising in corporate market. So it is
important that employees of companies are should be highly skilled, talented as well as could
work together in a coordinated way in order to accomplish objectives. Talent management is
referred as a constant process which consists attracting as well as retaining high quality
employees, designing their skills along with continuously motivating them in improving their
performance (Goh and Okumus, 2020). This report is based on managing a successful business
project of Tesco, which is a British multinational retailer company deals in groceries and other
household products. This report includes aims as well as objectives, project management plan,
Gantt chart along with work breakdown structure, small scale research, interpretation of findings,
recommendations, reflection along with its conclusion.
MAIN BODY
Aims and objectives
It is important to having employee retention in organisation as it is part of diverse
workforce and having valued towards company growth aspect. By involving opinions at the time
of undertaking decision in which they mapped about what actual importance towards the
company. In perspective of any company employees are more valuable aspect and assets towards
company for making them provide positive working environment in which they can contribute
skills and knowledge for attaining expectancy outcomes. This help in increasing their
commitment towards the company and improving their performance which helps in achieving
company goals efficiently and on time (Pandita and Ray, 2018). It also create harmony among
workers and create a friendly working environment in the company.
Research Aim:
To assess talent strategies for employee retention in organisation for further productivity.
A case study on Tesco plc.
Research Objectives:
 To determine the concept of employee retention.
 To assess the importance about talent management practises, implement in Tesco.
 To examine about strategies for retain employee by the mangers of Tesco company.
Research Questions:
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 What is the meant about Employee Retention?
 What are the main importance about talent management practises implement in Tesco
plc?
 What are the strategies to retain employee implement by the manager of Tesco company?
Literature review:
A literature review is the concept about narrative review is the type of analysation article.
It is scrutinise is a scholarly paper that presents the current knowledge which involves
substantive findings as well as theoretical and methodologies along with contribution of a
specific topic.
 To determine the concept of employee retention.
According to the Michael Benoz, 2021. The employee retention is one of objective of human
resource department to retain qualified and committed people where in business qualified. There
is goal of the employer that is usually to decrease employee turnover, whereas deceasing of
training costs, recruitment cost and loss of talent management within organisational knowledge.
It further refers about the ability to maintain by organisation of effective employees who are
much more contribute towards company positive outcomes. Many employees get to retention
towards policies are aimed towards highlight through various needs and employee enhance job
satisfaction and reduce to costs involved in hiring and training for new staff. In perspective of
Tesco company attain employee retention through provide them better positive working
environment through which they generate more innovative and creative results. There is one
human resource practise talent management to helps for retaining employees effectively. As
human resource management is main responsible for handling employees and fulfilling demand
of workforce The major role of talent management is to hire only potential or having effective
competencies to promote employees and make their fulfilment all the resources which is needful
towards their working aspect. (Walford-Wright and Scott-Jackson, 2018). The main purpose of
talent management is to create productive and positive working environment in which their
target get fulfilled within effective manner
Summary:
From this literature review it could be summarised that employee retention is said to be e
aim of human resource department which is used to retain most qualified as well as skilled
employees to run a business effectively with the aim of achieving their goals. It has been
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evaluated that employee retention is generally used by companies to reduce their employee
turnover along with reducing their various cost which are occurred in training, recruitment it as
well as other operations. As Tesco company is using employee retention for providing them a
better effective working surroundings which could result in having creative as well as innovative
outcomes. This area of talent management helps in retaining employees so that goals of company
could be achieved easily.
To assess the importance about talent management practises, implement in Tesco.
As per the opinion of Mona Momtazian, 2019. The talent management having significance in
management aspects where it perform as in the function of human resource to building the
effective infrastructure. of work force by which it brings the smooth or flexible changes
regarding organization structure development as well as it procure the valuable aspects of their
assets. There is necessity of talent management practises in organisation Tesco, as many
employees faces lack in their productivity for that manager and leader are reliable to provide
optimum traits of managerial activities which would help to gain positive outcomes. Many
activities are consider in talent management such as Training and Development and Performance
Appraisal are these two important aspect that improvise employees performance. Many
employees are well active but organisation provide proper Appraisal this will create job
dissatisfaction towards their job and also helps to gain better advantages in business. (Meister
and Willyerd, 2021). Thus, through talent management practices human resource of Tesco
company talent strategies to implement for improvising employee’s productivity that enhance
better long term stability and also it easy to mapped about the competency of individual
workforce who contribute towards organization to easy for promotion.
Summary:
From this literature review it has been summarised that talent management practices have its
own relevance in companies as. These practices help in building a better infrastructure in terms
of human resources for or achieving goals of company. It has been evaluated that Tesco in
employee retention for increasing the amount of productivity so that their books could be achieve
easily effectiveness. As performing talent management practices helps company to enhance
employee’s productivity in terms of long run stability for generating competency in markets.
 To examine about strategies for retain employee by the mangers of Tesco company,
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As per the opinion Chad Halvorson, 2020. There is very important of talent management in
every business enterprise where it brings the productivity in terms of workforce as well as it
helps to identify the higher productivity employees within the organization. Similarly, it
implements in the retail industry where Tesco can implies their strategies in such a manner
where they can retain potential employees through different practises. Some of strategies are
provide positive working environment in which employees can share their opinion and
coordinate with managers systematic manner. Employee engagement is one of the most and
flexible practise that handle by human resource manager in this superior can communicate with
their staff and reduce stress level. Performance management and reward management are these
important aspect that helps to rating staff overall performance along with feedback in which it
can helps to generate better working outcomes (Karacay, 2018). So, these are above factor which
demonstrate the effective talent management role in retail industry where it generates the flexible
productivity in terms of company’s growth as well as in employee’s performance.
Summary:
From this literature review it could be summarised that there are various strategies which
could be used by company to retain employees for them. It is essential for companies to retain
employees so that their employee turnover could be decreased as well as their productivity in
terms of human resources could be enhanced. It has been identified that employee engagement is
said to be an effective practice which could be used by companies to retain employees in order to
perform them with higher level of performance by providing them flexible working hours so that
their stress level could be reduced. Along with that performance management could be used as a
strategy to have employee retention.
Project management plan
This is a framework of plan which is approved that support or help on the basis of
executing, monitoring and controlling to the project. It also helps in determining about
deliverables which require to accomplish the project. Further, it major helps to focuses on
following essential components about project so that desired to generate possible outcomes.
 Cost: It is one of important components that attain about project which helps to
determining about the total cost involved that incurred to carrying out activities through
which it would complete as per accordingly. This is one of major components which
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determined along with essential of funds. In order to complete the project there is certain
amount of budget is fixed by researcher.
esu
 Time: As per it is determining on the total time taken through researcher to accomplish
the project is an effective order to attain goals on particular period of time. It is important
to attain accurate time is required so that there is no delay in conducting the research and
also fund to not fall short if it wrongly estimated.
 Scope: This is to determining on particular lists of goals that are to accomplished,
feature, function and having cost of deadline etc. Some of the action which needed to
perform for complete project within time and costs determined.
 Quality: this is connected with results or outcomes which are accomplished in the
respective of completion of project that depends about collecting at the process of
project. Thus, it is essential towards researcher perspective that collects authentic data in
higher quality (Johnson, Huang and Doyle, 2019).
 Communication factor: It is one of important aspect that derives to help in establishing
effective communication plays a team member so that overall data work together and
coordinate their work to helping to accomplish outcomes within effective manner.
 Risk factor: In every project there is sort of risk that having might occur while carrying
out project to affect the quality that leads to barrier or conflict. Therefore, these type of
risk need to analyze and implies appropriate steps to recover from that to minimized
effectively.
Gantt and work breakdown structure
Gantt chart:
It refers to chart which defines various time that could be assigned to each as well as
every tasks which has been carried to accomplish objectives in a specific timely manner. It
consists of efforts and which could be implied by each individual to gain project
accomplishments (Sparkman, 2018). It could have implemented by researcher to understand and
knowing effectiveness of project. it is essential to provide accurate information about whole
project which could have more importance. As work as well as activities are carried as well as
monitor through by carrying different tasks by determining aims as well as objectives for
carrying up project effectively along with testing different hypothesis by performing literature
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review as well as research methods in carrying out project effectively along with various
recommendations.
Work breakdown structure:
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