Business Project Report: Unit 6 - Talent Management at M&S

This report presents a comprehensive analysis of talent management within a business project, specifically focusing on Marks and Spencer (M&S). The report begins with an introduction to talent management and outlines the project's aims and objectives, which include understanding the importance of talent management and identifying effective strategies for attracting and retaining employees. A literature review explores the rising significance of talent management in a globalized environment. The report then details the project management plan, including costs and a Gantt chart. The research methodology, including quantitative methods and data collection through online surveys, is explained. The presentation of data and findings includes analysis of survey responses regarding talent management understanding and effective talent strategies. Recommendations are provided for M&S, emphasizing regular training, growth opportunities, performance-based incentives, and participative management. The author reflects on the learning experience and concludes that talent management is crucial for organizational success, highlighting the importance of systematic hiring, continuous training, performance incentives, and growth opportunities. References support the research, and this document is available on Desklib, a platform offering AI-based study tools for students.

Unit 6: Managing a
Successful Business
Project

 Introduction
 Project aims and objectives
 Literature Review
 Project management plan
 Work breakdown structure and Gantt chart
 Research Methods
 Presentation of the data and findings
 Communication of the recommendations
 Reflection
 Conclusion
 References
Table of content

The concept of talent management is basically related with
attracting and retaining talented candidates for a longer period
along with ensuring their continuous improvement and
development to have enhanced business success. The current
presentation is based on research project conducted on M&S
which comprises of information about project aim and
objective.
Introduction

The aim of current study is, “To learn about the importance of
talent management along with identifying most effective talent
strategies which are being used by the best companies to attract
and retain talented employees”. A research project on M&S.
Objectives
• To learn about the rising importance and need of the talent
management concept within a business organisation.
Aims and objective

1. Rising importance and need of the talent management concept
within a business organisation
According to the view point of Swailes, S., 2019, the twenty one
century is a era of globalisation and technology thus, it become
necessary for all organisation to put talent management in priority
to remain competent in global environment. Thus, it can be
evaluated that in modern era no organisation can work in isolation
or without proper utilization of its human resources.
Literature Review

It is basically a written document that facilitates and provides
information about the vial aspect of a project which is important
to have effective planning and implementation of project
activities.
Cost: It presents the information about the total expenses made for
undertaking a project. The estimated cost of current
investigation is £200 which consists of cost of hiring talent and
other resources.
Project management plan

Gantt chart

Work Breakdown structure

On the basis of objective and problems for which research is being
performed, researcher or manger can select the suitable method.
Mainly there are two types of research methods which are
described below:
Quantitative Method – This method provides data in numerical,
statistical or mathematical form collected through polls, surveys
and questionnaires,. It focus generalizing numerical data to
explain a particular phenomenon and helps in seeking
hypotheses about the research objective
Research method

The collection of data has been made from the selected
participants with the help of online survey that ensures
reliability and authenticity of information as it has been
not modified by anyone. With respect to current study a
sample size of 40 participants has been selected from
the employees of Marks and Spencer with the help of
random method of sampling.
Evaluation of data collection method

 Theme 1: Theme of talent management
Presentation of data and findings
Q1) Does any kind of implication or
understanding is hold by you on the
theme of talent management?
Frequency
a) Yes 38
b) No 1
c) Average understanding 1

 Theme 2: Some most effective talent strategies that are
being used by the best companies
Data analysis and findings
Q6) With respect to your opinion,
which are some most effective
talent strategies that are being
used by the best companies like
Tesco, M&S and Sainsbury to attract
and retain talented people?
Frequency
a) Systematic hiring process 6
b) Continuous training and
development session
10
c) Regular performance based
incentives and recognition
8
d) Higher growth opportunity 9
e) Adoption of participative
management
7