Developing Optimal Talent Management Strategies for Employee Retention

This business research project examines talent management strategies to attract and retain employees, specifically focusing on the transport sector, using Walkers Transport as a case study. The report begins with an introduction outlining the background, aims, objectives, and rationale of the study, followed by a project management plan including cost, time, resources, and risk assessment. A Gantt chart and work breakdown structure are provided to detail the research process. The literature review explores the concept and process of talent management and its benefits, followed by a discussion of the best strategies for managing people. The research methodology section details the qualitative research strategy, inductive research approach, and interpretivism philosophy used, along with data collection methods utilizing questionnaires. The report then presents data analysis and interpretation, followed by recommendations, reflection, and a conclusion. The report suggests that effective talent management improves company image, productivity, and competitiveness through better recruitment, motivation, performance appraisal, and training. The study recommends external recruitment, face-to-face interviews, and identifying employee needs to enhance retention rates.

Business Research Project

TABLE OF CONTENTS
TOPIC: To discuss the best strategy to attract and retain employees within organization..............3
INTRODUCTION...........................................................................................................................3
Background of the study..............................................................................................................3
Aim and objectives......................................................................................................................3
Rationale of the study..................................................................................................................4
Project management plan.............................................................................................................4
Gantt chart and work breakdown structure..................................................................................4
LITERATURE REVIEW................................................................................................................6
Theme 1: Concept and process of talent management.................................................................6
Theme 2: Benefits taken by transport sector with better talent management..............................6
The best strategy of managing people.........................................................................................7
RESEARCH METHODOLOGY.....................................................................................................7
Data analysis and interpretation...................................................................................................9
RECOMMENDATION.................................................................................................................15
REFLECTION ..............................................................................................................................16
CONCLUSION .............................................................................................................................16
REFERENCES..............................................................................................................................18
APPENDIX....................................................................................................................................20

TOPIC: To discuss the best strategy to attract and retain employees within
organization.
INTRODUCTION
A constant process of attracting as well as retaining skilled workforces with the company
is known as talent management (Pandita and Ray, 2018). Talent management plays a vital role
and provides several benefits to company. Better talent management improves image of the
company, increases productivity, sales and performance. When companies have skilled and loyal
workforces with them then it can take competitive advantages. There are several strategies that
can help companies in managing people such as better recruitment, motivation with Maslow's
theory, performance appraisal with 360-degree analysis and training.
Background of the study
Talent management is all about retaining talented workforces within business and
motivating them continuously. This present study is based on Walkers transport of the UK that
delivers livestock. This research study of identifying better talent management strategy is going
to discuss advantages that companies can take by people management. It will further discuss
some strategies of managing talent for improving performance and accomplishing goals.
Research methodology and data collection also plays a vital role in research study as it helps
scholar in making decision on the basis of collected data.
Aim and objectives
Aim: “To identify the best way or strategy by which companies can attract and increase staff
retention rate”. Study on transport sector with a number of vehicle and hubs.
Objectives:
 To discuss the main concept or process of talent management
 To explore benefits that transport sector can take by better people management.
 To search the best strategy that can help transport sector in increasing staff retention rate.
 To suggest ways of motivating or managing talent within organization.
Rationale of the study
Transport sectors are facing problems due to increasing competition and increasing rate
of labour. It is becoming difficult for them to hire and making their skilled workforce able in

retaining with the company. So, by conducting this research, Walkers transport can be made
aware about the best strategy and way of managing as well as attracting skilled workforce with
them. The other main reason is to make employees beneficial in higher satisfaction because for
managing talent, companies motivate and make use of the best strategy.
Project management plan
There are some factors need to be considered while making plan of project management such as:
Cost: Cost is the main factor that need to be estimated for project management or research. It
helps in making decision and completing cost effective project. For this study, estimated cost
will be: $70.
Time: Time also plays a vital role and it should be included in project management planning.
Time refers specific period in which researcher can complete study. So, for conducting research
on talent management topic will require around 6-7 weeks.
Resources: Resources needs to be identified that can be used by project manager for making
study successful. Some resources that will require for this study will be: skilled human resources.
Techniques, laptop, stationery and others (Bigorra Puente, 2017).
Quality: Quality refers standard or degree of excellence that need to be maintained. For
improving or maintaining quality, project manager requires some resources and tools. For this
study, KPI will be used for measuring quality.
Risk: Considering this factor while developing plan is also important as it can prevent against
failure of research study. For measuring or mitigating risk, backup plans will be made for this.
Communication: Communication also plays a vital role for interacting with stakeholders. For
communicating with internal and external stakeholders, project manager will use telephone, e-
mail modes (Nijhuis, Vrijhoef and Kessels, 2018).
Gantt chart and work breakdown structure
Gantt chart:
It is one of the project management tool which is used to describe various steps being
taken during the entire process of research. This chart also gives information about time element
which is required in completion of various steps (Nurre and Weir, 2017). Synchronization and
interrelation between each step is also presented in this chart.
Task Name Duration Start Finish Predecessors

Identification of the aim and objectives of
study 3 days Mon1/4/21 Wed1/6/2
1
Project management plan 5 days Thu1/7/21 Wed1/13/
21 1
Selection of the different research methods 6 days Thu1/14/2
1
Thu1/21/2
1 2
Preparing the questionnaire 4 days Fri1/22/21 Wed1/27/
21 3
Distributing questionnaire to collect primary
data 3 days Thu1/28/2
1
Mon2/1/2
1 2,4
Collecting the data 7 days Tue2/2/21 Wed2/10/
21 5
Analysing and interpreting the collected data 11 days Thu2/11/2
1
Thu2/25/2
1 6
Concluding the finding 3 days Fri2/26/21 Tue3/2/21 7
Recommending on basis of conclusions 2 days Wed3/3/21 Thu3/4/21 8
Reflecting on the learning 4 days Fri3/5/21 Wed3/10/
21 9

Work Breakdown structure:
Since, the name itself suggest its meaning that this structure breaks the entire work into
different segments. This means that it is a structure wherein entire work of the research is being
divided into different part. This structure gives information about various parts of project along
with its sub associated parts are also being discussed in this model.
LITERATURE REVIEW
Theme 1: Concept and process of talent management
According to the view of Painter‐Morland and et.al., (2019) talent management is one of
the important process that starts from attraction of employees and end with their retention with
the company. Management of skilled workforces of people, requires following several functions
by HR. HR requires performing functions such as recruitment, selection, motivation, training,
performance appraisal and others. Maurya and Agarwal, (2018) said that HR is responsible for
managing talent within company because all functions related to people management are being
performed by them.
Crane and Hartwell, (2019) argued and said that according to them, satisfaction of
employees' needs is directly associated with talent management. Talent management is all about
increasing staff retention rate or making employees able to stay with the company. For that,
company requires satisfying needs or motivating them.
Theme 2: Benefits taken by transport sector with better talent management
Talent management can provide several advantages to transport sector of companies if
they make use of better strategies. As per the view of Tamunomiebi and Worgu, (2020) talent
management can improve image of the company. When companies have talented or skilled

workforce with them then they provide better quality of products to customers. Customers then
help company in promoting their goods with mouth of words. It leads to better image. van Zyl,
Mathafena and Ras, (2017) contradicted and said that according to them, talent management can
increase sales or productivity. Talent workforces focus more on developing qualitative products
and satisfying customers. Increased customers’ satisfaction rate increases productivity and sales.
Pandita and Ray, (2018) said that talent management can make transport sector able to
make their company competitive and creative. Talent workforces bring innovation and with that
ideas they develop products or provide attractive services. Unique features of products and
services lead to competitive advantages.
The best strategy of managing people
There are some ways or strategies by which companies of transport sector can attract as
well as retain talent workforce. As per the view of Abdollahbeigi, Salehi and Jayashree, (2017)
one of the best way of managing talent is external recruitment and face to face interview. It is
believed that retention of talent people can be done after their attraction. For attraction and
recruiting, face to face interviews or external recruitment play a vital role. Damarasri and
Ahman, (2020) Argued and said that for managing people or increasing staff retention rate,
companies need to identify their needs. On the basis of their needs they can motivate them with
financial and non-financial factors.
Glaister and et.al., (2018) stated that as per them, training and performance appraisal can
help companies in managing talent workforce. Talent workforce stay with the company when
they get appraisal and find themselves able in performing tasks. By getting training, employees
can reduce errors in their work that can boost their confidence. Confidence and appraisal on the
basis of performance increase trust, and they stay with the company.
RESEARCH METHODOLOGY
Research strategy:
Research strategy mainly refers a form of data collection. Researcher may collect data in
the form of either in numerical or in non-numerical. Selection of research strategy mainly
depends on the type of topic. When researcher gather data in the form of numerical form them it
is known as quantitative. When scholar collects data in the form of non-numerical then it is
known as qualitative. Quantitative type of research allows scholar to test hypothesis by collecting

and analysing data in a systematic manner. Whereas, qualitative allows researcher to explore
ideas and analyse them in a detailed or depth manner. As this study is related to identifying the
best strategy for managing talent so, as per the topic, researcher has selected qualitative strategy
(Hayashi, Abib and Hoppen, 2019). With the help of this strategy, he can gather data and
analysis them in detailed and effective manner.
Research approaches:
A procedure that span steps of collecting, analysing and interpreting data is known as
research approach. Research approach is also being divided into 2 types such as: inductive and
deductive. In inductive type of research approach, researcher generate a brand-new theory that
never be developed before by other researcher. Whereas, in deductive research approach,
researcher develops an existing theory that have already been generated by others. The main
reason of selecting deductive research approach is to save time. For this research study inductive
research approach has selected because it is suitable or associated with qualitative research
strategy (Woiceshyn and Daellenbach, 2018). When research gather data in non-numerical form
then it selects or generates brand-new theory that is called inductive research approach. The
other reason of selecting this approach is to increase knowledge of researcher. It is believed that
when researcher develops new theory then it increases their skills relevant to the research topic.
Research philosophy:
Research philosophy is most important for research methodology. These philosophies
help in decided which approaches need to be adopted and what will be derived from the research.
This is important for presenting research philosophies which assist to research in getting
knowledge about world. There are two types of philosophies that help researcher for identifying
their study. Positivism is approaches that is based on collecting data and gathering information
with using various sources (Cazeaux, 2017). Interpretivism means identification of issues while
on the difference between conducting research among people rather than using computer or
machines. In present study Interpretivism philosophies being suitable because respondents have
given their issue related to organization. Other reason for selecting this could be increase in
knowledge as well developing skills in using relevant sources on this research study.
Data collection:
Data collection is process of collecting information or gathering with having various
variables as per interest and assist in developing systematic as well enables for answering

research questions. Two types of data collection, primary and secondary. Primary collection
refers to gathering information from first-hand data, those data which not been copied and not
taken from any other sources (Zhou and et.al., 2018). Secondary data means data which have
been taken from various books or journals in completing research topic. In present topic,
researcher have selected primary data collection and make the use of questionnaire in
organization. This might be help in increasing knowledge about issues of people and also
developing skills while by selecting this research topic.
Data analysis:
Data analysis is process of modelling and transforming data with giving useful
information, conclusions along with the supporting decision-making. Data analysis have multiple
chose for using their techniques tools such as qualitative and quantitative methods. Qualitative
methods based on theoretical information and help scholar for making their topic more reliable
and valid resource been selected. Furthermore, quantitative methods is based on SPSS tools that
could be help in numerical data for identifying research in form of number and taken sources
from books or journals (Miles, Huberman and Saldaña,2018). In this research theoretical based
research been chosen by scholar through which they can make their topic better and could be had
valid sources.
Sample:
Sampling means group of people, objects or items which have been taken from large
number of population. In present research, scholar has required for selecting appropriate
sampling in completing research topic. The main purpose of surviving 30 employees in Walkers
transport have been selected for referring sampling techniques in research topic (Etikan and Bala,
2017). Sampling also help in conducting research and solving their problems what they are
facing in organization among them and could be increased their knowledge as well skills through
which they can also make some different research topic.
Data analysis and interpretation
Data collection is one of the most important step of this research. It is a most important
element wherein researcher will collect data and as per collected data interpretation will be made
followed by drawing conclusions and making recommendations. In this research data is collected
from both primary and secondary sources which involves considering views of authors as well as

formulation of questionnaire. As a secondary resource literature review is being used for making
clarification regarding objective. On the other hand during primary research data is collected by
inculcating views of 30 employees of company. After, collecting data it is being interpreted
through tables and charts with a theoretical explanation. Also, conclusions are drawn at the end
of interpretation which is a reflection of entire data.
Theme 1: Majority of students favours That company appraise their every good efforts.
Did company appraise or hinder your efforts? Frequency
Yes, company appraise every good efforts 20
No, company hinder every good moves 6
Works in equilibrium state 4
Total 30
Interpretation:
From the above chart and table it would be interpreted that 20 employees out of 30 agrees
that company always appreciates their good moves. While, 6 employees said that company
hinder their good efforts. Being appreciating good moves is the basic way of motivating
employees and retaining them in the companies. Also, as it is found that majority of employees
favours company and its habit of appreciating good moves. Then it would be right to said that
Yes, company appraise
every good efforts
No, company hinder every
good moves
Works in equilibrium state
Total

company value its employees and their moves or efforts which directly encourage employees to
take further good efforts and thereby raises chances of their association with company.
Theme 2: Almost all employees find good growth opportunities in company.
What is the reason behind your association with company? Frequency
Better growth opportunities 15
Opportunities for enhancing skills 10
Work satisfaction 3
Others 2
Total 30
Interpretation:
It is understood from the above chart and table that almost all employees said that they
find better growth opportunities with the company. As 15 out of 30 favour this statement in
comparison of 3 employees who are associated with the company because they find satisfaction
while working in company. It is a general tendency of every employee that he want to work at
such company where he will find better growth opportunities. Since, company is providing better
Better growth opportunities
Opportunities for enhancing skills
Work satisfaction
Others
Total
0 5 10 15 20 25 30
Column B

opportunities to employee regarding growth. Then it would be right to said and considered as
company work in the direction of fulfilling employee's need and thereby managing its talent
efficiently.
Theme 3: High growth, accomplishment of objectives and meeting market competition are
all such benefits that company can grab by inculcating people management technique.
As per your opinion what benefits company can get by high
retention ratio?
Frequency
High growth 2
Achievement of objectives 2
Meeting market competition 2
All of above 24
Total 30
Interpretation:
There are various benefits that company can get by adopting and implementing the
concept of talent management in its working operations. Accomplishing objectives, achievement
of growth and success along with meeting market competition are some advantages that
company can grab through this practice. As per the above collected data and its presentation in
High growth
Achievement of objectives
Meeting market
competition
All of above
Total