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

This report explores the talent management strategies for employee retention in Tesco, a British multinational retailer. It includes aims and objectives, project management plan, Gantt chart, small scale research, interpretation of findings, recommendations, and reflection.

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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It refers to structure which defines a specific time which is assigned in smaller activities to
remove complexity from a project. it generally imparts more easiness as well as reliable as it is
easy to manage as well as control each of activity which will be more sufficient. In this activity it
will be divided in slots which is carried at a given period of time.
Small scale research
Research is referred as of process of searching as well as finding various factors of subject
in different data it will be gathered from several number of sources. There are some sources like
primary and secondary in which data will be collected through qualitative as well as quantitative
modes. These sources provide various information about project which is being carried.
 Quantitative method: It refers to data this is gathered in forms of diagrams, tables,
statistical information, graphical representation and so on (Sparrow, 2019). In this
resolved will be done by various norms as well as conclusion will be performed by help
of these results. In this method beautiful be collected by analyzing various statistical data
along with mathematical formulations.
 Qualitative method: In this method of research data is connected inform of quality as a
accurate statement which will be monitored from research.it is being conducted inform of
open ended questions as well as collecting feedback from respondents. In this method
information is collected inform of observation, ideas as well as thoughts, finding facts
and figures. There is a disadvantage also this method as it is based on personal viewpoint.
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 Research approach: it is considered to be a process that consists detailed approaches of
collection of information. There are basically two approaches of research which is
deductive and inductive. As inductive approach relates in providing factual information
along with data evidence that merges through formation of information while deductive
approach understands research information and builds logical process along with
associated effective research conclusion. As for carrying out this research deductive torch
is used by researcher for analysing data in present information along with highlighting
logical methods off conclusion.
 Data collection method: This research method is used by researcher for collecting data as
well as information for performing investigation in a right way. There are generally two
types of Data collection methods which are primary as well as secondary data collection
method. As primary data collection method is related in gathering fresh information as
well as data which will be gathered for first time while secondary data collection method
is related with data and information which is already collected prior. For performing this
research project in an accurate way secondary data collection method is used by
researcher by analysing books, articles, journals that are prior published along with
literature review. Also along with using both primary and secondary data collection
method questionnaire is performed buy primary factor and determining traits of
behaviour of respondents as well as secondary factor which is analysed by investigation
traits of different facts are findings.
 Sampling: It refers to a process by which specific amount of individual will get selected
as well as then investigation will be carried. For this research sample size is 20.
Along with there are certain difficulties which are faced by researcher in carrying out survey
which are as follows:
 Lack of employee’s interest
 Employee’s unavailability
 Lack of coordination
 Time management issues
Questionnaire:
QUESTIONNAIRE
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1.Do you understand about concept of talent management?
a. Yes
b. No
2. According to you do you think that company should use talent strategies to retain
more people?
a. Yes
b. No
3. What are various strategies used by Tesco in building new customers?
a. Training and Development
b. Effective leadership
4. How talent management strategies could be implemented in company?
a. Performance recognition
b. Equal opportunities
c. Implementing effective leadership styles
5. According to you which talent management strategies are used by company to
retain more customers?
a. Understanding power of job descriptions
b. Assessing cultural fit in company
6. Do you think it is necessary to provide training and development to its
employees?
a. Yes
b. No
7. Is it essential for Tesco to use different talent management strategies for
retaining people?
a. Yes
b. No
8. According to you do you think your skills are being enhanced working with
company?
a. Yes
b. No
c. To some extent
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Interpretation and findings
Findings and interpretation:
1.Do you underatand about meaning of talent management? Frequency
a. Yes 15
b. No 5
Interpretation:
From above it has been analyzing that 15 responding out of 20 knows about concept of
talent management whereas 5 respondents do not knows about concept of talent management
used In company. it has analyzed that employees of company have knowledge about talent
management.
2. According to you do you think that company should use
talent strategies to retain more people?
Frequency
a. Yes 18
b. No 2
Interpretation:
From above question it has been analyzed that 18 respondents think that company should use
balance strategies to retain mood people whereas 2 respondents out of 20 do not think that
company should use talent strategies (Chawla, 2019). As a result, it has evaluated that company
should use talented strategies for gaining more individuals.
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3. What are various strategies used by Tesco in building new
customers?
Frequency
a. Training and Development 12
b. Effective leadership 8
Interpretation:
From this question it has been evaluated that 12 respondents think that strategies used by
a Tesco in building new customers are using training and development and 8 respondents out of
20 thinks that effective leadership is more usable strategy for company in retaining more people.
As a result, it has been evaluated that people are more generated due to providing training and
development to its employees.
4. How talent management strategies could be implemented in Frequency
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company?
a. Performance recognition 12
b. Equal opportunities 5
c. Implementing effective leadership styles 3
Interpretation:
From above theme it has been analyzed that 12 respondents think that performance recognition
used as a strategy in company and 5 respondents thinks that equal opportunity strategy should be
provided in company and rest 3 respondents thinks that implementing effective leadership styles
should be implemented in company for gaining more people.as a result it has evaluated that
performance recognition is considered to be most effective strategy which could be used by
company.
5. According to you which talent management strategies are
used by company to retain more customers?
Frequency
a. Understanding power of job descriptions 10
b. Assessing cultural fit in company 10
Interpretation:
From above question it has been analyzed that 10 respondents out of 20 thinks that
understanding father of job description talent strategy should be used by company for retaining
more customers and rest 10 respondents thinks that assessing cultural fit strategy should be used
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to by company for gaining more customers. it has been analyzed that there is an equal strategy
that could be used to by company for gaining more customers.
6. Do you think it is necessary to provide training and
development to its employees?
Frequency
a. Yes 17
b. No 3
Interpretation:
From this question it has been analyzed that 17 respondents think that it is necessary to
provide training and development to company’s employees whereas 3 respondents out of 20
thinks that there is no need of training and development that could be provided to employees in
company. As or is all it has been analyze that there is a need of training and development which
could be provided to employees of company.
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7. Is it essential for Tesco to use different talent management
strategies for retaining people?
Frequency
a. Yes 15
b. No 5
Interpretation:
From above question it has been analyzed that 15 respondents think that Tesco should I
use talent management strategies for retaining people. Whereas 5 respondents out of 20 thinks
that company should not use talent strategies. As a result, has been evaluated that company
should use talent strategies for retaining people.
8. According to you do you think your skills are being
enhanced working with company?
Frequency
a. Yes 10
b. No 4
c. To some extent 6
Interpretation:
From above question it has been analyzed that 10 respondents think that their skills are being
enhanced working with company and 4 respondents thinks that their skills add not being
enhanced along with rest 6 respondents thinks that their skills are somehow enhanced working
with company (Hadi and Ahmed, 2018).
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Recommendations
From above analysis it has been analyzed that it is beneficial for Tesco to implement talent
strategies in order to retain people in their work place for generating more profitability. From this
research there are some of recommendations that could be provided to company in order to
generate customer retention (Honeyman and Jana, 2019). Some of recommendations are as
follows:
 It is essential for company to use and provide equal and fear chances to their employees
so that they can develop in company that straightly help in developing as well as
increasing their job satisfaction by designing quality between them.
 It is recommended to company that company should use various talent strategies by
which employees could be retained in higher amounts.
 Company should provide training and development services to employees and workers so
that their skills could be enhanced more in an effective manner.
 Enhancing employee engagement through employees in making decisions so that ideas as
well as views could be valued that help in enhancing their performance.
 Higher communication should be created so that all workers could communicate
effectively as well as understand knowledge in a right manner to get higher results.
 From these recommendations there are certain benefits as well as weaknesses which
could be identified in terms of carrying out project that are as follows:
Benefits:
 From this project it has been identified that employee retention is said to be an important
component of human resource which could be carried for having efficiency in company.
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 there are various strategies which could be used that company in order to retain their
employees as well as increasing their productivity.
 As if employee retention is high company will be able to achieve their goals more easily
with effectiveness.
 Effective communication as well as leadership could be defined as an important source of
carrying out employee retention in company.
Drawbacks:
 By carrying out this project there is a drawback of lack of time management skills in in
carrying out project effectively.
 It has been identifying that employee retention is considered as most effective concern in
company which is to be resolved quickly.
 There is a lack of employee engagement in company.
 There is lack of management skills which researcher required in order to manage their
team in an effective manner.
Reflection
As research is carried by me on topic of what talent strategies used by Tesco to attract and
retain people. So that customers will be able to fulfill their requirements along with generating
profits as well as providing development of employees. Through this research I developed my
knowledge on importance of having employees in company as they are said to be more valuable
asset of company. For carrying up this research I created an effective project management plan
as well as identified resources like time, cost budget and so on which are required to complete
this research. I used my research skills, data collection and interpretation skills as well as
abilities to complete my research in desired way. I used research techniques and tools status
work breakdown structure along with Gantt chart so that effective outcomes could be drawn. To
complete my research in an effective manner I also carried a survey by implementing
questionnaire as well as asked some questions to employees of Tesco so that effective quality
outcomes could be achieved from right data. During this investigation I faced few problems of
time management as well as resources along with that also I found complex to manage my team.
While help of my tutors as well as effective communication skills I was capable to deal with
these challenges. This research could help in getting future resort project in large companies that
would benefit me financially as well as getting with my desired college for higher studies.
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CONCLUSION
From report it could be concluded that is necessary for companies to use various talent
strategies to retain employees for generating profitability for their business. This research report
is based on managing an effective business project in which different talent strategies are used by
companies to retain employees are explained. There is a brief explanation of aims and objectives
which are required to carry up research and motive of research. There is a brief explanation of
project management plan along with a questionnaire for carrying up research effectively.
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REFERENCES
Books and Journals
Chawla, P., 2019. Impact of employer branding on employee engagement in business process
outsourcing (BPO) sector in India: mediating effect of person–organization
fit. Industrial and Commercial Training.
Goh, E. and Okumus, F., 2020. Avoiding the retail workforce bubble: Strategies to attract and
retain generation Z talent in the retail workforce. Tourism Management
Perspectives .33. p.100603.
Hadi, N.U. and Ahmed, S., 2018. Role of employer branding dimensions on employee retention:
Evidence from educational sector. Administrative Sciences .8 (3). p.44.
Honeyman, R. and Jana, T., 2019. The B Corp handbook: How you can use business as a force
for good. Berrett-Koehler Publishers.
Johnson, K.R., Huang, T. and Doyle, A., 2019. Mapping talent development in tourism and
hospitality: a literature review. European Journal of Training and Development.
Karacay, G., 2018. Talent development for Industry 4.0. In Industry 4.0: Managing the digital
transformation (pp. 123-136). Springer, Cham.
Meister, J.C. and Willyerd, K., 2021. The 2020 workplace: How innovative companies attract,
develop, and keep tomorrow’s employees today. HarperCollins Publishers Inc.
Pandita, D. and Ray, S., 2018. Talent management and employee engagement–a meta-analysis of
their impact on talent retention. Industrial and Commercial Training.
Sparkman, R., 2018. Strategic workforce planning: Developing optimized talent strategies for
future growth. Kogan Page Publishers.
Sparrow, P., 2019. A historical analysis of critiques in the talent management debate. BRQ
Business Research Quarterly .22 (3). pp.160-170.
Walford-Wright, G. and Scott-Jackson, W., 2018. Talent Rising; people analytics and technology
driving talent acquisition strategy. Strategic HR Review.
Online
Booz. M .2021. What is an Employee retention? [Online] Available through:
<https://www.cio.com/article/2868419/how-to-improve-employee-retention.html>
Momtazian. M .2019. What is the importance of employee retention? [Online] Available
through:<https://www.humanresourcesonline.net/the-importance-of-talent-
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managementand-why-companies-should-invest-in-it#:~:text=Attract%20top%20talent
%20Having%20a,organizations'%20business%20performance%20and%20results>
Halvorson. C .2021. Strategies of Employee Retention. [Online] Available through: <
https://wheniwork.com/blog/7-great-employee-retention-strategies>
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Project Logbook for chosen company:
Name of the learner: Name of the Supervisor:
Project Topic: “Talent strategies used by Tesco
to retain employees”
Date:
Update of weekly investigation/ tasks
accomplished (Account for a minimum of six
weeks through dates) What have you performed?
 Did you complete Task needs?
 Are you on track as well as within
deadlines set? Did you require to make any changes
to your project management plan?
I performed project on topic “Talent
strategies used by Tesco to retain
employees”
Yes, I completed all needs within time scale.
Yes
No, I don't think any change is needed
Any challenge and / or issues determined? Did you examine risks/issues with a
lack of skills needed for undertaking
research activity?
 Did you determine any additional
risks/challenge that have an impact on
Yes, challenge of efficient data gathering.
Yes, I faced challenge of managing time and
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the project management plan? managing team.
Problems encountered What issues did you face?
 How did you deal them?
Managing team as well as gathering data
from individuals
For handling with this challenge I managed
employees behaviour by enhancing various
soft skills
New Ideas as well as change of project
direction
What Have I learnt about myself this week? How did I feel when I had to handle
with tasks/problems?
 How well have I carried project? What
did I contribute?
 What can I enhance on next week?
 How might this learning implement in
the future?
I sometimes felt tensed as well as confused
while carrying up the project.
I put effective efforts for having better
outcomes while performing the activities.
For enhancing the skills of next week I can
read books as well as take various sessions.
In future whenever I had to perform
research on such subjects the understanding
that I generated from will going to help me.
Activities planned for next week
 Which tasks are priority?
The main practices for completion of
project is data gathering and interpretation
in organized manner.
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 Have you fix aside sufficient time for
completion? Yes, with the carrying of Gantt chart I
allocated time among different tasks.
Project plan status to date (on, ahead, behind)
Supervisor comments to address
Signature of the Supervisor along with date:
What was the Project planned to accomplish?
This project is associated with the aim “Talent strategies used by Tesco to retain employees”.
Did the project succeed in its goals/ how do you know? Particularly, please outline any evaluation
and assessment performed?
Yes, effective results were accomplished by using several methods are implemented such as
questionnaire, sampling method etc.
What things do you feel worked well as well as why? Evaluate all factors of the project?
My communication skills, investigation along with interpretation skills benefit me in carrying the
research in an efficient way.
What problems rise during the project as well as how were they tackled? Was there timely
determined of issues and resolution while the project process?
Various challenges that were faced are associated with the improper behaviour of the individuals. For
dealing with such challenges ethical consideration were focused. For handling through conflicts among
team members i used soft skills.
What did you learn from performing the project?
From performing the project, I understood that different staff is essential for organisation and they must
be consisted in decision making.
How would you rate your performance for being management consultant leading the project?
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According to my performance in research, I rate myself which is 9/10.
What strengths as well as weakness of your performance did you determined?
Strengths: research skills as well as effective interpretation
Weaknesses: Time along with team management
How will this inform as well as support your continuous professional enhancement?
This can help in my personal as well as professional development as i can get future projects so that i
can enhance as a researcher.
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