Talent Management Strategies: Attract & Retain Employees

This report investigates talent management strategies employed by businesses to attract and retain employees, using Halfords as a case study. The report begins with an introduction to talent management, defining its importance in an organization. It outlines the project aims, objectives, and research questions, followed by a detailed project management plan that covers aspects such as cost, scope, time, quality, communication, and risk. The report then presents a work breakdown structure and a Gantt chart to illustrate the project timeline. The research methodology includes both primary and secondary data collection methods, employing questionnaires and literature review. The findings are presented using various tools, and recommendations are made for Halfords. Finally, the report concludes with a reflection on the learning experiences. The research aims to identify talent management strategies and their impact on employee retention and organizational success.

Managing a successful
business project
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Contents
TOPIC: “What talent strategies do the best companies use to attract and retain people?”.............3
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Project aims & objectives.......................................................................................................3
P2 Project management plan.......................................................................................................4
P3 Develop a work breakdown structure and Gantt chart...........................................................5
TASK 2............................................................................................................................................7
P4 Carry out small-scale research by using primary & secondary method for meeting project
aims & objectives........................................................................................................................7
TASK 3............................................................................................................................................9
P5 Findings & data using appropriate tools as well as techniques..............................................9
P6 Recommendations................................................................................................................13
TASK 4..........................................................................................................................................14
P7 Reflection.............................................................................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
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TOPIC: “What talent strategies do the best companies use to attract and
retain people?”
INTRODUCTION
MSBP is a kind of small sacale research that help in identifying and gaining knowledge
about any topic. The aim of this project is to identify talent management strtaegies taht help a
business entity to attract and retain talent.Talent management is defined as a systematic and
effective procedure for analysing the vacant position, developing the skills and expertise of an
individual, recruiting the right person & retaining them to attain objectives of organisation.
(Amiri and Safariolyaei, 2017). In addition to this, it is a useful procedure of pulling, thinking
hiring, retaining, developing and transitioning of staff members to achieve organizational vision.
For conducting the present report, Halfords is taken into consideration. It is a British retailer of
car enhancement, car parts and touring equipment’s that is operating in Ireland and UK. The
company was founded in year 1892 and also provide services such as bicycle repair, dash Cam
installation, vehicle part fitting and so on. The report will cover an understanding about the
talent management concept and its Importance to retain and attract employees working in
organization. In addition to this, there is discussion about the strategies used by companies to
manage talent at workplace. Furthermore, project management plan is developed and work
breakdown structure & Gantt chart is produce for completion of research. In the last, some of the
recommendations to the company and the reflection on basis of learning and experience is
elaborated in a proper manner.
TASK 1
P1 Project aims & objectives
Talent management palys an importnat role within an organisation as it help in retaining
employees and also assist in increasing productivity of staff members. In addition to this, it is
significant for business entity to make use of effective talent management strtaegies in order to
attract and retain talent.
Research Aim:
“To determine the strategies of talent management and its importance to retain employees
of an organisation. A case study on Halfords”.
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Research Objectives:
 To know about the concept and importance of talent management in an organisation.
 To examine strategies adopted by Halfords to attract and retain employees of the
organisation.
 To identify the challenges faced by Halfords while implementing talent management
strategies at workplace.
Research Questions:
 What is the concept and importance of talent management?
 What are the strategies adopted by Halfords to attract and retain employees of the
organisation?
 What are the problems faced by Halfords while implementing talent management
strategies at workplace?
Rationale
The main purpose of conducting this research is to determine the strategies of talent
management and its importance to retain employees of an organisation. In addition to this, it help
researcher to gain insight about talent management concept and the also the challenges faced by
company while implementing the talent-management strtaegies. Moreover, it help researcher to
improve skills such as communication, time management, data analysis and many more.
P2 Project management plan
It is basically a blueprint that is used by researcher for performing the activities associated to
investigation in a proper manner. There are various factors involved in project management plan
that is time, risk, cost, scope, communication and many more. The project management plan for
the present research is given below:
Cost: It is basically the amount that is required in order to run out the activities of
investigation. The fund which is estimated by researchers for completing activity and task of
present investigation is $30,000.
Scope: It includes aspects such as deliverables, functions, project task and so on. The scope
of the present project is wide as it will help companies to retain and attract employees for longer
time in Halfords. The scope of the research topic is wide as talent management is one of the
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trending topic and conducting study on such topic assist organisation to retain and attract talent
at workplace.
Time: It is referred as the estimated time that will be taken to complete the research
successfully. It is important for researchers to set the time period of every activity in advance so
that it is completed timely. With the help of work breakdown structure and Gantt chart,
investigator will be able to divide the activities according to the time (Iii, 2016). For the present
research, investigator will be taken around 8 weeks..
Quality: it is basically the quality of information connected that help in developing
authentic and valid conclusion. In the present report, both the primary and secondary information
has been taken from the certified sources which ensure quality of work.
Communication: It is basically deciding which channel is used by researcher in order to
communicate the outcomes to all the stakeholders. In the present investigation, both oral and
written form of communication have been used. It is determined that retaining and managing
people are the main functions of human resource Department of an organization and on the other
hand senior management develop strategies which are implemented by personnel in a written
format in order to make things authentic, official as well as verifiable.
Risk: Every research is associated with some kind of risk , which is experienced by
investigator. There are different forms of risk such as inaccurate responses, limited sources,
limited funds and many more. In addition to this, organization face risk in the form of inaccurate
data presented, lack of talented staff members, inadequacy of capabilities and so on.
Resources: It is basically including all the resources which investigator had used for
conducting research and these are time, pen, paper, laptop, stationary and many more
(Kaliannan, Abraham and Ponnusamy, 2016). All these resources are necessary to conduct
investigation while organization need resources such as talented and skilled staff members,
authentic sources, correct information on so on.
P3 Develop a work breakdown structure and Gantt chart
Researchers used different methods in order to determine the time frame of the project
structure. The techniques used by Halfords to determine time frame is given below:
Work breakdown structure:
This structure is used by investigators in order to categories the project process into easier
sequential stages. In addition to this, it helps in dividing the complex work into the manageable
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activities which is convenient for researcher to implement and is associated with target bound. It
is determined that, work breakdown structure is used for both the research management and
project management. Moreover, it also determines the roles as well as responsibilities associated
to project management along with risk involved, cost and developing correct sources to generate
data.
Gantt chart:
It is a bar chart type which help in determining relationship among real time activity
performance and schedule status. It is presented in horizontal and vertical axis that shows the
status of work and activities in a planned and structured manner so that project can be completed
effectively and timely (Khilji and Schuler, 2017). The chart involved the initial time and the
completion time of activity that assist in implementing project management functions such as
effective planning, organizing, directing, controlling off activities optimally and properly.
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TASK 2
P4 Carry out small-scale research by using primary & secondary method for meeting project
aims & objectives
It refers to determination and identification of particular tools as well as techniques which
are used for assessing, defining, analysing and processing data or information associated to
specific project. In addition to this, it helps in evaluating the reliability and validity of research
information on the talent management strategies. The methods used in the present research is
given below:
Primary method: It denotes the information that has been gathered for the first time and is
original in nature. It is basically a raw data that is gathered by investigators as per the identified
problem and the research objectives. There are various methods use to collect primary
information such as questionnaire, case studies, survey, focus group and many more. For the
present investigation, questionnaire is used by researcher as it helps in collecting information
more properly and effectively. In addition to this, it help researcher to collect first-hand
information that is original in nature and support in gaining valid and appropriate information.
Secondary method: It consists of the data which is already used and gathered by
professionals and researchers (King, 2017). The methods to collect secondary information are
books, Journal, websites, articles and so on. The data from different articles and journals is used
by researchers for collecting secondary information for the present investigation. This method
for collecting data is used by researcher for the present investigation as it is the information
which is gathered and analysed by experts and leads to more reliable and valid conclusion.
Qualitative research: It is a method of research that does not involve information or data
which is in numerical form. It involves sources of information like observation, words,
photographs and many more. It is analyzed that primary sources are preferred for qualitative
research in order to get accurate information.
Quantitative research: It involved data that can be expressed in statistical as well as
numerical form. This help researcher to collect valid and reliable information due to which
positive outcomes can be attained by conducting the research (Thunnissen and Buttiens, 2017).
In the present research, Qualitative research method is used by researcher as it help in
collecting in-depth knowledge about the topic and is easy to gather as well. In addition to this,
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will help in gaining authentic and reliable information which leads to development of valid
conclusion.
Sampling: It is the process of selecting number of participants from the whole population in
order to collect information about the particular topic. There are mainly two methods of
sampling that is probabilistic and non-probabilistic method. Random sampling, a form of
Probability sampling method is used for the present investigation as it allow researcher to select
participants from the large number of population. The sample size which is taken into
consideration is 30, who are the employees of Halfords.
Questionnaire: it involves different close ended and open ended questions associated to
research aim and objectives in a proper manner (Lawler, 2017). The questionnaire developed by
researchers is given below:
Questionnaire
Q1) Please can you help me with concept of talent management?
a) Yes
b) No
Q2) As per you, do talent management strategies help Halfords in employee retention and
satisfaction?
a) Yes
b) No
Q3) State issues faced by Halfords while implementing talent management strategies at
workplace?
a) Lack of leadership
b) Disagreements among employees
c) Increased employee turnover
Q4) Mention strategies, which could be used by Halfords to retain talent in organisation?
a) Providing positive working environment
b) Appreciate good work
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c)Cultivate team spirit
d) Providing appropriate training
Q5) As per your view point, what are the impact of talent management on the productivity and
performance of employees?
a) Positive impact
b) Negative impact
C)No impact
Q6) Provide any recommendations to Halfords in attainment of competitive advantage by
using talent management.
TASK 3
P5 Findings & data using appropriate tools as well as techniques
Theme 1: Talent management concept in organisation
Q1) Please can you help me with concept of talent management? Frequency
a) Yes 24
b) No 6
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Interpretation: From the above graph, it is analysed that out of total 30 respondents, 24
participants have the knowledge about talent management concept whereas the remaining 6
participants have no idea about this concept. Most of the participants have the knowledge about
such concept as they have experienced and performing in organisation but 6 participants have no
idea as they did not consider this concept at workplace.
Theme 2: Talent management strategies help Halfords in employee retention and
satisfaction
Q2) As per you, do talent management strategies help Halfords in
employee retention and satisfaction?
a)Yes 22
b)No 8
Interpretation: The above graph state that out of total 30 respondents, 22 participants said that
talent management strategies help respective organisation in employee retention and satisfaction
whereas the remaining 8 is not agree with the point.
Theme 3: Problems faced while implementing talent management strategies at workplace
Q3) State issues faced by Halfords while implementing talent
management strategies at workplace?
Frequency
a)Lack of leadership 10
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b) Disagreements among employees 10
c)Increased employee turnover 10
Interpretation: It is interpreted from the above graph that, there are various issues faced by
company while managing talent that is lack of leadership, increased employee turnover,
disagreement among staff members, which is said by 10 respondents respectively.
Theme 4: Strategies used to attract and retain talent in organisation
Q4) Mention strategies, which could be used by Halfords to retain talent
in organisation?
Frequency
a)Providing positive working environment 8
b)Appreciate good work 7
c)Cultivate team spirit 7
d) Providing appropriate training 8
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