Analyzing Strategic Talent Management Initiatives at Marks and Spencer

This report examines talent management strategies, focusing on Marks and Spencer (M&S) as a case study. It explores the types of new initiatives and innovative ways of working that companies implement to achieve a strategic approach to talent management. The report includes an introduction outlining the importance of effective talent management and its impact on business practices. The main body of the report details a project management plan, encompassing research aims, objectives, and deliverables. It covers key elements like time management, quality control, communication strategies, risk assessment, and resource allocation. The report also presents a work breakdown structure and a Gantt chart to visualize project timelines and task organization. Furthermore, it discusses data collection methods, including primary and secondary research, and utilizes questionnaires for gathering information. The report analyzes the collected data, presenting findings on employee understanding of talent management and preferences for innovative practices. Finally, the report offers conclusions and recommendations based on the research findings and includes a reflection on the learning process.

Managing a Successful Business Project

Table of Contents
Topic - ‘What are the types of new initiatives and innovative ways of working do companies put
in place to achieve a strategic approach to talent management?’....................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1.................................................................................................................................................1
P2.................................................................................................................................................2
P3.................................................................................................................................................3
TASK 2............................................................................................................................................4
P4.................................................................................................................................................4
TASK 3............................................................................................................................................7
P5.................................................................................................................................................7
P6...............................................................................................................................................13
TASK 4..........................................................................................................................................13
P7...............................................................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

Topic - ‘What are the types of new initiatives and innovative ways of working
do companies put in place to achieve a strategic approach to talent
management?’
INTRODUCTION
There are different practices with in business which needs to be managed in effective and
efficient manner. It is crucial for organisation to have proper and accurate practices for managing
its talented employees for enhancing business practices. There are different kinds of initiative
and innovative that could be consider by company in order to manage talented employees in
significant manner (Wacklin, 2020). This report is based on Marks and Spencer company. This is
the British organisation that is conducting its business activities in different market area. Marks
and Spencer organisation is a well known retail company that is developed in year 1884. Founder
of Marks and Spencer company is Michael Marks and Thomas Spencer and its head office is
located at London, England, UK. The topic of this report is ‘What are the types of new initiatives
and innovative ways of working do companies put in place to achieve a strategic approach to
talent management?’ It includes project management plan that includes time, quality,
communication, risk, resources, aims of the project plan. This report consist of work breakdown
structure and Gantt chart. Different methods for collecting information has been determined as
well as appropriate tool for analysing data has been used. Apart from this different
recommendation as well as reflection regarding own learning has been analysed.
MAIN BODY
TASK 1
P1.
Research aims
1

To investigate different types of new initiatives and innovative ways of working do
company can put in place to achieve a strategic approach to talent management. Case study of
Marks and Spencer, UK
Research objective
 To determine the concept of talent management.
 To analyse various initiative and innovation practices that could be used by Marks and
Spencer company to accomplish a strategic approach to talent management.
 To evaluate the importance of talent management in order to enhance performance and
productivity of Marks and Spencer company.
Research Objective
 What is the concept of talent management?
 What are various initiative and innovation practices that could be used by Marks and
Spencer company to accomplish a strategic approach to talent management?
 What are the importance of talent management in order to enhance performance and
productivity of Marks and Spencer company?
P2.
The project management plan can be describe as the crucial part for conducting different
practices in significant and effective manner (Onyusheva, Thammashote and Thongaim, 2020).
This is refer as the formal document that defines how a project is to be carried out in order to
attain desired goals. Project management practices includes different elements such as as
communication, time, quality, risk and so on. This is helpful for providing blue print for
performing project activities in significant manner.
 Aim – This can be describe as the motive of conducting project practices accurately. Aim
of this project report is to investigate different types of new initiatives and innovative
ways of working do company can put in place to achieve a strategic approach to talent
management. Case study of Marks and Spencer, UK
 Deliverables – It refer as the output of the project plan and investigator needs to perform
practices according to the accomplishment of desired deliverables.
2

 Time – Time can be describe as the duration in which all activities of the project needs to
be perform. For this project management plan time is considered to be 3 months.
 Quality - It is important that quality of the project is high as it will lead to have
significant impact on output of the project. It is essential for project manager to carry out
different practise in significant manner with the motive of accomplishing high quality.
 Communication – In order to carry out project practices in appropriate manner, project
manager have to communicate with different people. It is essential that communication
practices is very clear and appropriate with the motive of attaining desired outcomes.
 Risk – There is different types of risk factor which could occur while performing project
management practices in effective manner. In this project, manager have to deal with the
risk of unethical practices or leak of important information.
 Resources – This can be describe as the different resources which is needed by researcher
in order to carry out research practices in effective and efficient manner. In this project
plan, manager will required human resource, finance resource as well as other raw
material to carry out practices in effective manner.
P3.
 Work breakdown structure - For projects, the Work Breakdown Structure is the
instrument that uses this method and is perhaps the main project management archives. It
without any help coordinates extension, cost and timetable baselines guaranteeing that
project plans are in arrangement. Work breakdown structure in project management is a
strategy for finishing a complex, multi-step project. It's a method to isolate and vanquish
huge projects to complete things quicker and all the more effectively (Shimasaki, 2020).
This is addressed as a progressive region of a project into work regions with the most
minimal by and large being a work bundle or in some cases even a movement. The least
level of the Work Breakdown Structure ought to be predictable and concurred at the
beginning of the formation of the Work Breakdown Structure. The Work Breakdown
Structure gives the establishment to all project management work, including planning,
cost and effort estimation, resource allocation, and scheduling.
3

 Gantt Chart - A Gantt chart is effective tool that is used in project management, is
potentially the most well known and significant strategies for showing activities, for
example, occasions and undertaking that is displayed against time. On the left of the chart
is a summary of the activities and along the top is a fitting time scale. Each activity is
tended to by a bar; the position and length of the bar reflects the starting date, range and
end date of the activity. Gantt chart is used for arranging projects, things being what they
are, and it's anything but's a significant technique for showing what work is reserved to
be done on a specific day. It can moreover help you see the start and end dates of a
project in one essential chart. A Gantt chart is a level bar chart used in project
management to ostensibly address a project plan as time goes on. Present day Gantt
charts generally show you the plan and status similarly as who's careful for every task in
the project.
TASK 2
P4.
There are different methods and approaches for collecting and analysing data in order to find
accurate information. It is essential for project manager to consider right and appropriate method
for gathering information. This is significant for effective decision making as well as enhancing
overall process of project management. Primary and secondary method is mention below in
detail –
 Primary method – This is refer as the method of collecting or gathering information that
is collected for the first time. Primary method of data collection is consider as accurate
way of finding important information as it will help in finding accurate information and
data which is according to the requirement of project manager.
 Secondary method – This can be describe as the way of finding information and data
from different sources (Kaltenbaugh and Parsons, 2021). In this type of data collection
method, information is gathered from the primary sources. Secondary method of data
collection is time and cost saving approach for project manager.
Questionnaire
4

Name –
Age –
Contact number –
1. Do you have understanding regarding the concept of talent management?
 Yes
 No
2. According to you, what are different kinds of innovative and initiative practices that
could be consider by Marks and Spencer company in order to manage its talented
workforce in significant manner.
 Developing accurate job descriptions
 Providing growth and development opportunities
 Effective compensation
 Accurate performance assessments
 All of the above
3. Do you consider that it is crucial for Marks and Spencer organisation to manage its
talented workforce in significant manner with the motive of accomplishing desired
objectives
 Yes
 No
4. As per your view point what is the significance of talent management practices in order
to increase overall performance and productivity of Marks and Spencer company for
accomplishing desired objectives?
 Attracting and recruiting top talent
 Motivating employees
 Increase employee engagement practices
 All of the above
5

5. According to you what are the key components of talent management which is essential
for business.
 Strategic employee planning
 Performance management
 Learning and motivation
 Career development
 All of the above
6. Do you feel that appropriate talent management strategies will lead to have positive
impact over enhancing performance and capabilities of business?
 Yes
 No
7. As per your view point what are the different benefits or advantages that could be gain by
employees of Marks and Spencer company through effective talent management
activities?
 Improvement in skills and capabilities
 Providing accurate guidance
 Determining potential of employees
 All of the above
8. According to your what are the major impact of talent management on overall practice of
Marks and Spencer company?
 Helps in improving employee work experience
 Increase customer satisfaction level
 Higher return on investment
 All of the above
9. As per your views what are the major issues and problems that could be faced by Marks
and Spencer company in order to enhance talent management practices?
 Poor hiring strategies
 Ineffective leadership practices
 Employee turnover
 Inexperience with technology
6

 All of the above
10. Do you have any suggestions for Marks and Spencer company manager in order to
consider right kinds of innovative and initiative practices for enhancing talent
management practices.
TASK 3
P5.
Theme 1 – Understanding regarding the concept of talent management.
11. Do you have understanding regarding
the concept of talent management?
Frequency
 Yes 35
 No 5
Interpretation – As per the above collected data it has been analysed that most of the respondents
that is 35 out of 40 has proper understanding regarding talent management. There are only 5
respondents who responded in negative manner that they do not have information about talenet
management.
Theme 2 – Different kinds of innovative and initiative practices that could be consider by Marks
and Spencer company in order to manage its talented workforce in significant manner.
12. According to you, what are different
kinds of innovative and initiative
practices that could be consider by
Marks and Spencer company in order
to manage its talented workforce in
Frequency
7

significant manner.
 Developing accurate job descriptions 5
 Providing growth and development
opportunities
10
 Effective compensation 5
 Accurate performance assessments 5
 All of the above 15
Interpretation – Through the above mention graphical representation it has been analysed that
there are different innovative and initiative practices that could be consider by respective
company for developing accurate strategic approach of talent management. As per 5, 10, 5 and 5
respondents it has been determined that Developing accurate job descriptions, providing growth
and development opportunities, effective compensation, accurate performance assessments
respectively is accurate initiative practices. Where as other 10 respondents out of 30 consider
that all of these are effective way which will assist in appropriate talent management practices.
Theme 3 – Crucial for Marks and Spencer organisation to manage its talented workforce in
significant manner with the motive of accomplishing desired objectives.
13. Do you consider that it is crucial for
Marks and Spencer organisation to
manage its talented workforce in
significant manner with the motive of
accomplishing desired objectives.
Frequency
 Yes 32
 No 8
Interpretation – As per the gathered data it has been analysed that Marks and Spencer company
needs to manage talented workforce in accurate and significant manner in order to attain desired
objectives. It has been determined that out of 40 respondents 32 has responded in positive
manner where as only 8 has responded in negative.
8

Theme 4 – The significance of talent management practices in order to increase overall
performance and productivity of Marks and Spencer company for accomplishing desired
objectives.
14. As per your view point what is the
significance of talent management
practices in order to increase overall
performance and productivity of Marks
and Spencer company for
accomplishing desired objectives?
Frequency
 Attracting and recruiting top talent 10
 Motivating employees 5
 Increase employee engagement
practices
5
 All of the above 20
Interpretation – According to the data collected in survey it has been analysed that talent
management is very significant for business in order to enhance performance and productivity of
business. As per 10 and 5 respondents it has been identified that they feel attracting and
recruiting top talent and motivating employees is essential for business. Other 5 respondents
consider that increase employee engagement practices is the major significance of talent
management. Whereas most of the respondents that is 20 out of 40 feels that all of the above
mention are the significance of talent management and it lead to have positive impact on
business.
Theme 5 – The key components of talent management which is essential for business.
15. According to you what are the key
components of talent management
which is essential for business.
Frequency
 Strategic employee planning 8
 Performance management 5
 Learning and motivation 5
9

 Career development 10
 All of the above 12
Interpretation – Through the above mention graphical representation it has been determined that
there are different key components of talent management which is essential for business.
According to 8 and 5 respondents it is determined that strategic employees planning and
performance management is crucial component where as other 5 and 10 respondents feel that
learning or motivation and career development is important for respective company. Most of the
respondents that is 12 feel that all of these are crucial components of talent management and it
assist company in its effective performance.
Theme 6 – Talent management strategies will lead to have positive impact over enhancing
performance and capabilities of business
16. Do you feel that appropriate talent
management strategies will lead to have
positive impact over enhancing
performance and capabilities of
business?
Frequency
 Yes 34
 No 6
Interpretation – According to the data collected in survey it has been analysed that talent
management strategies will lead to have positive impact over enhancing performance as well as
capabilities of business. It has been identified that most of the respondents which is 34 out of 40
has responded in positive manner. Where as other 6 respondents does not believe that strategies
of talent management will assist in improving business performance.
Theme 7 – The different benefits or advantages that could be gain by employees of Marks and
Spencer company through effective talent management activities
17. As per your view point what are the
different benefits or advantages that
Frequency
10