Strategic Approach to Talent Management in Business Project

This project analyzes talent management within a small business context, specifically focusing on ASDA's strategies for talent retention. The research investigates the understanding of talent retention, explores various strategies to improve employee retention, and evaluates the benefits of talent retention for the company. The project includes data analysis, interpreting survey responses regarding talent retention awareness and the need for employee engagement. The conclusion summarizes key findings, emphasizing the importance of diversity and equality. Recommendations are provided to improve business practices, such as offering equal opportunities and adhering to legislation. This document provides a comprehensive overview of talent management, offering valuable insights for students studying business and project management.

Managing small business
project
TALENT MANAGEMENT

Table of content
 Introduction
 Data analysis
 Conclusion
 References

Introduction
This research is about talent retention in ASDA. Talent retention rates at
Asda's supermarket store have improved dramatically and are currently at
an all-time peak. The retail giant announced that for more than five years,
over 67,000 staff members have now been working at the company (De
Angelis, and Grinstein, 2020). It's a 10 per cent rise from last year.

Aims and objectives
Research objectives
 To understand the term “talent retention”
 To analyse different strategies to improve employee retention
 To evaluate various benefits to ASDA by talent retention
Research questions
 What do company mean by the term “talent retention” ?
 What are the different strategies to improve employee retention?
 Discuss various benefits to ASDA by talent retention ?

Data analysis
Q1) Are company having any knowledge regarding talent
retention?
Frequency
a) Yes 25
b) No 5
25
5
a) Yes
b) No
Interpretation – From this pie chart, it is concluded that most of the
respondents
have information about the term talent retention. This is one of the
most essential factor within
a company that reflects the performance of a company for
managing the employees.
.25
5
a) Yes
b) No

Data analysis
Q 2) Do company think, there is need of of retaining
employees and increasing employee engagement?
Frequency
a) Yes 22
b) No 8
22
8
a) Yes
b) No
Interpretation – It is considered that there is need to manage the employee
retention for enhancing employee engagement. Out of 30 respondents,
there are 22 respondents who think that talent retention is essential to
manage the way of employee engagement.
22
8
a) Yes
b) No

CONCLUSION
 From the report, it has summarised that business need to follow
diversity and equality for running organisation in an effective and
efficient manner. This assist enterprise to achieve growth as well as
success from marketplace. Project management plan leads to know
about cost, time, risk, resources, quality for carrying out research work.
For completion of project work, time framework has applied that divide
activities and task to simpler form.

RECOMMENDATION
 For better improvement of business, some recommendation are
given to Next Plc which are described below:
 It is recommended to Next Plc to provide equal opportunity to each and
every work force so that they focus on attainment of business goal and
objectives.
 It is also recommended for following of all legislations, acts for successfully
running of business activities and operations at competitive marketplace.
 Thus, these are few important recommendation given to business
for attainment of positive results.

REFERENCES
Books and Journals
 Barak, M. E. M., 2016. Managing diversity: Toward a globally inclusive
workplace. Sage Publications.
 Brown, J., 2017. Inclusion: Diversity, the New Workplace & the Will to
Change by Jennifer Brown. Publish Your Purpose Press.
 Cho, S., Kim, A. and Mor Barak, M. E., 2017. Does diversity matter?
Exploring workforce diversity, diversity management, and
organizational performance in social enterprises. Asian Social Work and
Policy Review. 11(3). pp.193-204.

THANKYOU