Identifying Talent Management Strategies: Marks and Spencer Project

This project focuses on identifying effective strategies for talent management, specifically within Marks and Spencer. It begins with an introduction outlining the importance of talent management for attracting and retaining skilled employees, and then defines the project's aim, objectives, and research questions. The project includes a detailed project development plan, outlining costs, timeframes, and resources required. A work breakdown structure and Gantt chart are provided to illustrate project milestones and timelines. The research methodology is briefly discussed. The findings and analysis section will apply analytical tools to interpret the data. The project also offers recommendations, a reflection, and a conclusion. The project includes references to support the research. The goal is to provide Marks and Spencer with actionable strategies to improve talent management and reduce staff turnover.

Managing a Successful Business
Project
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Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
Producing Aim and objectives.....................................................................................................3
Research question........................................................................................................................4
Rationale......................................................................................................................................4
Milestone of the project...............................................................................................................5
Work breakdown structure..........................................................................................................6
Gantt chart...................................................................................................................................6
RESEARCH METHODOLOGY (400)...........................................................................................7
FINDINGS AND ANLYSIS (600).................................................................................................8
Application of appropriate analytical tools to analyze research findings and data.....................8
RECOMMENDATIONS (200).......................................................................................................8
REFLCETION (150).......................................................................................................................8
CONCLUSION (150)......................................................................................................................8
REFERENCES................................................................................................................................9
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Topic- To identify strategies and ways of retaining and managing people.
INTRODUCTION
Talent management is a process of attracting and retaining skilled employees within company for
improving image and productivity. Talent management and activities from attracting employees
to retain employees helps company and employees in accomplishing goals (McDonnell and
et.al., 2017). For retaining employees, employers put extra efforts and makes use of effective
strategies and try to satisfy employees. When employees become satisfy then they support
company in meeting their goals. So, from this it can be said that it is beneficial for both
employees and employers. There are several advantages that company can take by using
effective strategies for attracting and increasing staff retention rate with the company. In regards
to strategies of talent management it can be said that different companies make use of different
ways like motivation, training and others.
Research background
Talent management can be defined as strategic process of getting the right people and
helping them out in development and growth. This present project is based on Marks and
Spencer that is a British Multinational retailer, founded in 1884 by Michael Marks. It offers
clothing, food and home products. This present study is going to discuss advantages and benefits
of talent management along with ways by which companies can decrease staff turnover rate. It
will also show effective project development plan that includes: cost, resources, time and
communication modes required by project manager as it helps in completing project effectively.
For making project successfully, it is important to identify some important tasks that are known
as milestones and by focusing on these, project manager can complete project in timely manner.
Producing Aim and objectives
Aim- “To identify effective strategies by which Marks and Spencer can attract and retain skilled
workforce”. Study of Marks and Spencer.
Objectives
 To identify meaning and concept of talent management.
 To discuss benefits that Marks and Spencer can take by managing talent within
organization.
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 To recommend some techniques for staff retention and better people management.
Research question
1. What is the main concept of talent management?
2. How company can make itself beneficial by increasing staff retention rate?
3. What strategies can help Marks and Spencer in attracting as well as retaining its talented
people within organization?
Rationale
Talent management is the main key of success of organizations and in this increasing
competition era it is important for companies to make use of their skilled workforce. It is
believed that skilled workforce is mainly responsible for accomplishing goals of company. It can
be only possible when companies make use of effective strategies of attracting as well as
retaining them. So, one of the main reasons of selecting this topic is supporting companies in
making them able to take competitive advantages (Bratton and Watson, 2018). Making
companies able to be in the market and also make them able to respect values and needs of
employees is other reason.
Producing project development plan
For making a successful business project it is important for project manager to make an
effective plan. Project development plan guides project manager and leads him on a right
direction and by going on that direction, he can accomplish main goal of research. Some
elements of project development plan include:
Cost: It is main elements of project development plan that can lead to success if it is maintained
in an effective manner. It is important for project manager to have financial stability and ability
to invest money in an effective manner and specific activities. For this project there will be
requirement of around £1000 for identifying talent management strategy.
Time: It refers a period in which project can be completed by project manager and he requires
completing project for accomplishing goals (Mustanir, Abadi and Nasri, 2016). For this study, it
will require around 9-10 weeks.
Quality: It is one of the main important elements of project development plan on which success
depend. For accomplishing goals and improving image it is important for manager to maintain
quality and perform all functions in ethical manner. For this project, project manager will make
use of effective monitoring and controlling tools for knowing effectiveness.
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Communication: It is other element that allows project manager in interacting with internal and
external stakeholders and provides them information about project. It can reduce
miscommunication if modes of communication are being selected in an effective manner. For
this project, E-mail, telephone will be used for communication (Nilsalab and Gheewala, 2017).
Resources: For completing project on any topic, project manager requires having several
resources. Without resources it is not possible to complete study. It helps project manager in
completing study in a timely manner if resources are being selected effectively. For this project
several resources like: technology, HR resources, financial resources will be selected (Molale,
2019).
Risk: While making a plan, it is important for project manager to identify risk for protecting
themselves against failure and making use of effective strategy. The topic of this project is talent
management and identifying ways of attracting as well as retaining them so, increasing
competition and lack of time may create some barriers.
Milestone of the project
There are some important tasks that can be considered as milestone such as:
Producing aim and objectives Without producing aim and objectives, project manager
cannot perform further steps and all furthers functions depend
on it.
Producing project development
plan
It works as a guide for project manager and by assuming all
elements of project development plan he can complete project
in timely and cost effective manner.
Data collection As like development of aim and objectives, project manager
requires information on which basis they can accomplish goal
and take decision.
Analysis and findings For making final decision, it is important to analyse collected
data and improve quality of research project.
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Work breakdown structure
It is an effective way or tool that breaks project down into smaller in more manageable
portion. By making use of this, project manager can accomplish its goals and prioritize tasks in
an effective manner.
Gantt chart
Acti
vitie
Wee
k 1st
week
2nd
Week
3rd
Week
4th
Week
5th
Week
6th
Week
7th
Week
8th
Week
9th
Week
10th
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s
Identifyi
ng topic
Developi
ng aim
and
objectiv
es
Produci
ng
project
develop
ment
plan
Conduct
ing
primary
and
seconda
ry
research
Conduct
ing
question
naire or
collectin
g data
Analysis
of
collected
data
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Reflecti
on
Conclusi
on and
Recom
mendati
on
Submiss
ion
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REFERENCES
Books and journals
Bratton, J. and Watson, S., 2018. Talent management, emotional labour and the role of line
managers in the Scottish hospitality industry. Worldwide Hospitality and Tourism
Themes.
McDonnell, A. and et.al., 2017. Talent management: a systematic review and future
prospects. European Journal of International Management. 11(1). pp.86-128.
Molale, T.B., 2019. Participatory communication in South African municipal government:
Matlosana local municipality’s Integrated Development Plan (IDP)
processes. Communicare: Journal for Communication Sciences in Southern
Africa. 38(1). pp.57-75.
Mustanir, A., Abadi, P. and Nasri, A., 2016, December. Participation of Ethnic Community
Towani Tolotang in Deliberation of Development Plan. In International Conference on
Ethics in Governance (ICONEG 2016). Atlantis Press.
Nilsalab, P. and Gheewala, S.H., 2017. Potential impact on freshwater resources from agrofuel
feedstock cultivation in Thailand: implications of the alternative energy development
plan 2015. Water. 9(12). p.919.
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