Analysis of Talent Management Strategies at Iceland Foods Ltd

This report analyzes talent management strategies within the context of Iceland Foods Ltd., a supermarket chain. The project aims to understand and evaluate various talent management approaches to attract and retain skilled employees. The research covers talent management concepts, strategies like rewards, training, and development, and their effects on employee satisfaction and organizational performance. The methodology includes a literature review, a project management plan with cost, scope, and timeline, and a research methodology section detailing research philosophy, approach, strategies, data collection methods (primary and secondary), time horizon, sampling techniques, research instruments, and ethical considerations. Data analysis, including frequency distribution analysis from a questionnaire, reveals insights into employee awareness, the effectiveness of talent management strategies, and the benefits of these strategies for both the organization and its employees. The findings provide recommendations for Iceland Foods Ltd. to enhance its talent management practices, fostering a competitive advantage through effective employee retention and attraction.

Managing a Successful
Business Project
(Talent strategies used by companies to
attract and retain people)

Chapter 1: Introduction
Overview:
Talent refers to a specific and inherited capabilities of individuals to attempt a task.
Whereas talent management is a process to manage talent in workplace. There are a number of
strategies that can be used by organisations for talent management such as rewards, recognition,
persons organisation and so on (Kaliannan, Abraham and Ponnusamy, 2016). This will
successfully help an organisation to attract experienced and talented workforce and retain them.
Iceland foods Ltd. Is organisation on which this research is conducted.
Overview of the Organisation:
Iceland foods Ltd is a supermarket chain dealing in retail sector. The company was
founded by Sir Malcolm Walker in the year 1970. it is headquartered in Wales. There are a
number of frozen meals sold by company including prepared vegetables and meat. The company
also deals in some non-frozen items such as grocery, dairy products and so on. It is necessary for
company to take care of their employees and make sure that they are effectively retaining
talented employees in the organisation. There are a number of strategies that company uses in
order to make sure that they are effectively using talented management to retain and train
employees in the organisation.
Project aim:
“To analyse the importance of various talent management strategies in order to attract and
retain talented people within business”. A study based upon Iceland Foods Ltd
Objectives of the project:
 To develop a basic understanding about the concept of talent management.
 To understand the talent strategies which should be used by the management of Iceland
Foods Ltd.
 To analysis the methods in which Iceland Foods Ltd. can retain talent. To examine the importance of talent management strategies to attract and retain talent for
long time within a business.
Questions of the project
 Explain talent management related to an organisation?
 What are different talent management strategies used by organisations?

 What are the important strategies that can be used for of Iceland Foods Ltd for talent
management? What are the effects of different talent management strategies used by Iceland Foods Ltd
in order to attract and retain the talent within the organisation?
Rationale of the project: Major rationale to select this strategy is to make sure that major
talent management strategies and their effectiveness is identified. In personal level the study is
supporting investigator to enhance skills and in professional level they are helping to understand
various strategies of talent management.
Project management plan: This is document that is explaining various goals, budget,
timeline and scope of the project. Various components of project management plan are: Cost: It is included in project management plan as it is helping organisation to complete
the project successfully. The cost required in project are mentioned below:
Total forecasted budget
Particulars 2019-20($)
Implementing technological costing 10000
Promotional expenses 5000
Advertisement expenses 1500
Brochures 1000
Charges for training 5500
Total cost 23000 Scope: The following study has a broad scope as it is effectively helping in enhancing
knowledge on certain topics. Time: It is necessary to complete task in given time for which organisation is using Gantt
chart. Quality: All the work in research is to be done in a quality manner to achieve results
(Gupta, 2019).

 Communication: it is an important part that will help in supporting the researcher
effectively. Various communication channels such as emails, oral communications and
written communication are used to support aim and objectives in research. Risk : Various risks include lack of time and resources required fro research. Negative
performance of researcher is also a risk. Resources: Various resources used includes books, newspapers, publications journals etc.
Work breakdown structure: It is breaking a huge work into smaller segments. It is a common
productivity tool in order to make work more manageable and approachable (Murillo and King,
2019). All the activities are divided into small tasks so that they can be successfully
accomplished as mentioned below:
 Gantt chart: It is a tool for time management which helps to complete each activity in
given time. The graphical tool help in projecting activities against time as mentioned
below:

Chapter 2: Literature review
Explain the talent management in context of an organisation?
According to view point of Anbumathi and Sivasubramanian,Meyers, (2020), talent
management in organisation can be define as function which is performed by management in
organisation in relation to managing talented employees in firm. This is performed to manage
capacity, skills and many other factor which are required to formulate effective workforce in
organisation. In case of Iceland Foods Ltd, this function is useful to manage working
environment and use function in appropriate manner. All these will work towards success of
business operation and helps in managing it in efficient way.
What are different talent management strategies used by organisations?
As per the view point Kalra, (2018), of there are number of talent management strategies
which can be use by organisation in order to meet its objectives an retaining talented employees
in firm. Here, organisation ca use function which promote talented employee's and use them in
effective way. In content of Iceland Foods Ltd author states that training and development is
best suitable stage which can be use by organisation in relation to management of talented
employee. this is because by using training and development manager can assist employee about
there work and help the in working within different condition. This will ultimately increase there
skills and help in performing complex tasks.
What are the significant strategies that will be used for of Iceland Foods Ltd for talent
management?
As per the opinion of Hariyanto and Said, (2020) , retaining talented employees in
organisation is easy way for firm in current business environment this is because there are
number of tools and techniques which can be use by organisation to achieve its business
objectives. It includes rewarding, promotion, performance appraisal, guidance and training. In
context of Iceland Foods Ltd, it can use rewarding system. It is helpful to organisation managing
functions which are related to achieving business objectives by combining them with personal
objectives. This include both monitory and non monetary rewarding system which can be use by
organisation to achieve business objectives. Author also stated that promotion can also use by
organisation in relation to managing employee and using the function of talent management. This
is because there are number of talented employee who can perform in organisation as promotion
helps in managing there responsibility by increments in monitory benefits.

What are the effects of different strategies for talent management used by Iceland Foods Ltd
in order to attract and retain of talent within the organisation?
According to view point of Latukha, (2018) there are number of benefits which are be
use by organisation to attract talented employees these are related to firms functions and are used
in managing this in effective manner. In context of Iceland Foods Ltd, these are good team
management and Improved workplace practices and atmosphere. Talent management strategies
are useful for organisation in relation to managing its function and building strategies to achieve
business objectives. This helps firm in achievement of its function which are performed by
management staff. This is also helping in reducing the politics within office and the relationship
between employees can be enhanced and it also encourages positive behaviour in organisation.

Chapter 3: Research methodology
Research philosophy: It can be define as an part of research methodologies which is
related to performing function related to procedure of gathering, analysing and using qualitative
or quantitative information. In relation to current research, positivism philosophy is used by
researcher to gather information and performing research in effective manner.
Research approach: In relation to current research, it include two kinds of approaches
which are related to inductive and deductive approaches. In the present research there is use of
both approaches in organisation to achieve business objectives and using this function is
essential for firm to manage there objectives of research in effective way.
Research strategies: There are number of research strategies which can be use by
researcher to perform function of research and achieve its objectives. This is useful for
organisation in relation to conducting research and using them in appropriate manner. It includes
action research, experimental research, systematic literature review, surveys, interviews, case
study and so on. Under the current research, there is use of effective strategy for performing the
research and working on different aspects.
Data collection: This involve information about performance of organisation which is
related to use on data collection method. Under this, there current report is consist of two types
of data collection which is related to primary and secondary sources of data collection. In case
of secondary data, there are number of sources such as books, articles, journals, publication
research and many others
Time horizon: Cross-sectional and longitudinal are methods which are used under this
research. Both are important in relation cross-sectional time and managing horizon.
Sampling: Sampling can be define as that function which include selecting an sample
form total population. In relation to this research, there are two basic approaches probability and
non-probability. Both of these are used under this report which impact on performance of
function.
Research instruments: In relation to current research this include interview,
questionnaire, focus group, observation etc. as an instruments fr performing the research.
Data analysis: There are number of tools and techniques which are used by researcher in
this for data analysis. In this different analytical technique will be used which is frequency
distribution analysis

Ethical issues: In present research there are various principles which are used as various
ethics for research while the investigation is going on. It is necessary to take consent of the
respondents to avoid any kind unethical practice.

Chapter 4: Analysis and Discussion
Data analysis are referred to the process in which data is gathered and evaluated with the
help of a questionnaire. The frequency distribution analysis is used as an analytical technique.
This will also help researcher to analyse quantitative data. Below is frequency distribution for the
questionnaire is mentioned below:
Q1) Do you understand the concept of talent management Frequency
a) yes 30
b)no 10
Q2) In your opinion, is talent management helping Iceland Foods Ltd to
attract and retain new talents ?
Frequency
a) Yes 35
b) No 5
Q3)What are most effective strategies to retain and manage talented
workforce?
Frequency
a) Detailed job descriptions, 15
b) Collaborate-coach-evolve, 10
c) Opportunities for continuous improvement, 8
d) Reward and recognize right 7
Q4) what are advantages of talent management for Iceland Foods Ltd? Frequency
a) Retaining finest talent 18
b) Efficient and effective performance 11
c) Strengthen human capital structure of company 11
Q5) According to you, what are the benefits of talent management to the
employees of Iceland Foods Ltd?
Frequency
a) Achievement of job satisfaction 12