Talent Management Strategies: An Evaluation Project at Aston Martin

This report evaluates talent management strategies at Aston Martin, a British automotive company, focusing on addressing challenges like high employee turnover and lack of motivation. The project aims to assess talent management concepts and strategies for attracting and retaining skilled employees. The research employs a deductive approach with a positivism philosophy, utilizing qualitative methods and a survey strategy for data collection. Primary data was gathered through questionnaires from a sample of 20 Aston Martin employees, while secondary data was obtained from online journals and articles. The findings highlight the importance of talent management, factors driving its need, and effective strategies such as training, performance reviews, and participative leadership. The reflection emphasizes the development of data analysis skills and the ability to implement learned concepts in future situations. The report also includes a literature review of talent management articles, detailing research aims, methodologies, analyses, and findings, alongside ethical considerations for data privacy and safety.

Unit 6 – Managing
Successful Business
Project
Table of Contents

INTRODUCTION...........................................................................................................................1
P1............................................................................................................................................1
P3............................................................................................................................................3
P4: Research methodology.....................................................................................................4
P5 & P6:.................................................................................................................................5
P7............................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Managing a successful business project required effective planning along with along with
systematic organisation of various activities and task. The current project is based on Aston
Martian which is a well-known British automotive company having its main headquarter located
in England, UK (Hussain and et. al., 2022). It has been seen and reviewed that the Aston martin
is a multinational company thus, it is facing many issues and challenges in managing talent.
Apart from this, high employees turnover and lack of motivation in employees has been also
continuously faced by the Aston martin therefore, following research is conducted within the
below stated aim and objectives.
P1
On the basis of given scenario, it has been seen that talent management is leading an
important and vital role in creating improved HR practise within a firm along with enhancing the
productivity and performance level. Therefore, following aim and objective are made for current
project;
Aim
The main focuses and emphasis of current project is tend to be based, “To evaluate about
the conception of the talent management together with setting out the strategies that are being
adopted by top most and preeminent companies to attract as well as retain the skilled people”. A
research project on Aston Martin.
Objectives
 To evaluate about the need and importance of the concept of talent management within a
firm.
 To determine about the best strategies of talent management that are applied by best
companies to have better attraction as well as retention of people.
Research questions
 What are the factors which are giving rise to the need and importance of the phenomena
and conception of the talent management within a firm?
 Which can be the best strategies of talent management that are applied by best companies
to have better attraction as well as retention of people?
1

P2
Aston Martin , DATE: 2021-22
1.CHOSEN ORG NAME : Aston Martin
2.BACKGROUND OF YOUR BUSINESS: Aston Martin Lagonda is a British unbiased
manufacturer of luxurious sports automobiles and grand tourers. Its predecessor changed into
based in 1913 via Lionel Martin and Robert Bamford.
3.VISION, MISSION, OBJECTIVE, GOAL: A significant uplift in profitability and cash
generation ensuring that long-term product development is funded from free cash flow and
attractive returns are delivered for investors.
4.NATURE PRODUCT /SERVICES: Aston Martin is a British car manufacturer this is related
to both luxurious and speed. They are also recognised for their stunning layout and lots of human
beings recall the cars produced through this enterprise as proper works of art. Their automobiles
have emerge as a British icon although it is a global vehicle logo.
5. COMMUNICATION TO THE STAKEHOLDERS: Through newsletters and emails
6. OPERTIONAL PLANS: Aston Martin plans on building electric vehicles on both its Gaydon
and St Athan factories by 2025.
7. MARKETING PLANS: through billboards and social media channels
8. RESOURCES: Raw materials, technology and employees
9. SWOT PLANS:
Aston Martin has a heavy-obligation production and designing group. They ensure that each
vehicle they roll out is strong, ideal and coveted through anyone. Most human beings crave for
an Aston Martin because of its overall performance and build exceptional. This allows them in
being greater to be had in all regions. When in comparison to similar corporations Aston Martin
has the lesser market. This is because they deal with their luxurious market and has by no means
attempted to enter every other market. They may additionally need to do it quickly if they do no
longer want many contenders.
10. RISK FACTORS: Prices of petroleum merchandise are growing. Aston Martin need to check
out cars so one can be electrically powered.
2

P3
The time frame for the respective research is that there are different time frames for each
activity such as for research aim it was 1-3 weeks, for objectives and background, 2-3
weeks, literature review 3-4 weeks, methodology 3 weeks, and analysis, 4 weeks, and
findings 3 weeks.
Literature Review
Article 1
In order to prevail and grow, employers no longer simplest want the excellent employees
they could find, additionally they want to fit the right individuals for each position – and that
they need those people to live engaged, fulfilled and committed to the company’s lengthy-term
dreams. Employers have to attract and preserve candidates who truly want to paintings for them.
As a end result, the venture of making an engaged team of workers, which has been the difficulty
of a tremendous deal of communication amongst top employers in recent years, isn't always just
about growing productivity. Although productiveness is crucial, lengthy-term worker retention is
likewise a crucial issue within the cultivation of exceptional talent.
Article 2
Every new hire should be set up for fulfillment from the start. Your onboarding technique need
to train new employees now not best approximately the process but also about the enterprise
subculture and how they are able to contribute to and thrive in it (14 Effective Employee
Retention Strategies, 2021). Don’t skimp in this important first step. The schooling and aid you
offer from day one, whether or not in individual or definitely, can set the tone for the employee’s
whole tenure at your firm.
Article 3
In nowadays’s place of work, if you enhance your voice to an employee, you could
expect them to start process searching at once. Nobody wants to be humiliated within the
administrative center, and all the exceptional matters employers do frequently may be flushed
down the bathroom after an intemperate second. Be patient, or kiss your best personnel goodbye.
Employees want to be with an business enterprise that is moral and treats them with dignity and
admire.
3

P4: Research methodology
This forms out a vital and most effective part of every investigation that provides
information about the research method and tools used for carry out and undertaking a research
project. A description of research method applied for current study has been provided as below:
Research philosophy- Making use of the positivism research philosophy has been prosed
within current study as it supports and facilitates a practical and systematic way of undertaking
an investigation (Hickson and Owen, 2022).
Research approach- it has been seen and observed that basically two main types of the
research approach includes the inductive and deductive research approach out of which the use
of and applying the deductive approach is seemed suitable for current study as provides better
generalization and analysis of the facts and research based on the quantitative data. Along with
this, it is also in line with positivism philosophy and lead to better testing and scanning of facts.
Research Method- It has been seen and reviewed that research method tend to provide a
plan for the study that has been divided into two main types comprising and includes of the
qualitative as well as quantitative nature of the study. In accordance and based on the research
questions of current work, it has seemed that the application and making use of the qualitative
research is more appropriate and suitable as it supports and tend to provide a detailed and in-
depth collection of data to meet out set research objectives (Zwikael, Chih and Meredith, 2018).
Research strategy- implication and use of the survey strategy has been made for current
project as supports easy collection of data with the help of questionnaire.
Source of data collection- In accordance to the current research project, it has been
assumed and emphasis that making use of the both the sources of data collection including the
primary as well as secondary set of data is seemed appropriate. Primary data and source is vital
to present and provide first hand information that is authentic and reliable in nature while
secondary data supports evaluation and review of pre-existing and past set of information.
Analysis and review of secondary data is made through online practice and journal provided in
the literature review. Further, Use of below stated questionnaire has been made for collection of
primary data for current project:
Questionnaire
Q1) Do you having any understanding and implication about the concept of talent management
strategies?
4

a) Yes
b) No
Q2) What are the factors which are giving rise to the need and importance of the phenomena and
conception of the talent management within a firm?
a) Rising competition in business environment
b) Dynamic nature of customers
c) Lack of motivation in employees
d) Skill gap
e) Issue of higher employee turnover
Q3) Which can be the best strategies of talent management that are applied by best companies to
have better attraction and retention of people?
a) Regular training and development programmes
b) Timely performance review and appraisal
c) Use of Rewards and incentives
d) Participative leadership
Sample Size- A selection of the sample size of 20 respondents is selected from the set of
the population of the employees of Aston Martin with the use of random sampling method.
Ethical Consideration- to meet the set ethical principles and maintain the authenticity and
reliability of the facts use of the BERA code of which along with data protection act has been
made to maintain the privacy and safety of collected data (Zuo and et. al., 2018).
P5 & P6:
Use of below stated frequency table as well as the pie charts has been made for analysis
and communicating the research outcome which has been provided as below:
Theme 1: Understanding and implication about the conception of the phenomena of talent
management strategies
Q1) Do you having any understanding and implication about the concept
of talent management strategies?
Frequency
a) Yes 19
b) No 1
5

Interpretation
The above drawn statistical pie chart is reflecting that from a total of 20 participants, 19
respondents tend to have understanding and implication about the phenomena of talent
management strategies while one was unaware of it.
Theme 2: The factors which are giving rise to the need and importance of the phenomena
and conception of the talent management within a firm
Q2) What are the factors which are giving rise to the need and
importance of the phenomena and conception of the talent management
within a firm?
Frequency
a) Rising competition in business environment 4
b) Dynamic nature of customers 3
c) Lack of motivation in employees 5
d) Skill gap 3
e) Issue of higher employee turnover 5
6

Interpretation
the diagram attached is reflecting that from the total 4 respondents were having a view
point that Rising competition in business environment is the reason behind the rising the need as
well as importance of the concept of talent management within a firm while 3 had favoured
dynamic nature of customers whereas 5 supported for the lack of motivation in employees.
Theme 3: Strategies of talent management that are applied by best companies to have
better attraction and retention of people
Q3) Which can be the best strategies of talent management that are
applied by best companies to have better attraction and retention of
people?
Frequency
a) Regular training and development programmes 4
b) Timely performance review and appraisal 7
c) Use of Rewards and incentives 4
d) Participative leadership 5
7

Interpretation
On the basis of the current research findings that 4 participants were having a view point
that Regular training and development programmes best strategies of talent management that are
applied by best companies to have better attraction as well as retention of people whereas the
maximum 7 had favoured that timely performance review and appraisal. Further, 4 tend to
support the use of rewards and incentives while the other 5 had also supported for the
Participative leadership.
P7
I got a chance to develop effective skills as well as existing knowledge. I will be able to
implement the same in the various future situations in an effective manner. Hence, I also got an
opportunity to learn about data analysis as well as interpreting the same to develop effective
conclusions.
8

REFERENCES
Books and journal
Hussain, S and et. al., 2022. The influence of government support, organizational innovativeness
and community participation in renewable energy project success: A case of
Pakistan. Energy, 239, p.122172.
Hickson, R.J. and Owen, T.L., 2022. Project management for mining: Handbook for delivering
project success. Society for Mining, Metallurgy & Exploration.
Zwikael, O., Chih, Y.Y. and Meredith, J.R., 2018. Project benefit management: Setting effective
target benefits. International Journal of Project Management, 36(4), pp.650-658.
Zuo, J. and et. al., 2018. Soft skills of construction project management professionals and project
success factors: A structural equation model. Engineering, Construction and
Architectural Management.
(Hussain and et. al., 2022)(Hickson and Owen, 2022)(Zwikael, Chih and Meredith, 2018)(Zuo
and et. al., 2018)
Online
4 strategies for attracting and retaining top talent. 2021. [Online]. Available
through:< https://www.bizjournals.com/bizjournals/how-to/human-resources/2016/05/4-
strategies-for-attracting-and-retaining-top.html >.
14 Effective Employee Retention Strategies. 2021. [Online]. Available through:<
https://www.roberthalf.com/blog/management-tips/effective-employee-retention-
strategies >.
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