Unit 6: Managing a Successful Business Project on Tesco's Talent

This project, titled "Considering a Strategic Approach to Talent Management," investigates the talent management strategies employed by Tesco, a multinational retail company. The project aims to identify the importance of these strategies in attracting and retaining talented employees. The objectives include developing knowledge of talent management concepts, identifying strategies used, and examining ways to retain and attract talent. The research covers the concept of talent management, various strategies used by organizations, methods for retaining talent, and approaches to attracting talented employees. The project includes a project management plan with cost analysis, scope, and timelines, utilizing a Gantt chart and work breakdown structure. The research methodology involves a positivist research philosophy, a defined research approach, and a research strategy that includes action research, systematic literature reviews, and surveys. Data collection methods utilize primary and secondary sources. The literature review explores the concept of talent management, different strategies used by organizations, and ways to retain talent. The project concludes with an analysis, discussion, and reflection on the findings, along with recommendations and limitations. The project emphasizes the importance of talent management in business success and provides valuable insights into Tesco's approach to talent management.

Higher Nationals
Project Brief –
UnitNumberandTitle Unit 6 – Managing a Successful Business Project
Project Title Considering a Strategic Approach to Talent Management
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Managing a Successful
Business Project
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Table of Contents
Chapter 1: Introduction..............................................................................................................3
Chapter 2: Literature Review.....................................................................................................9
Chapter 3: Research Methodology...........................................................................................11
Chapter 4: Analysis and Discussion.........................................................................................13
Chapter 5: Reflection...............................................................................................................21
Chapter 6: Conclusion, limitations and recommendations......................................................22
REFERENCES.........................................................................................................................23
Books and journals...............................................................................................................23
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Chapter 1: Introduction
Overview of the title:
Talent management system is a process which helps in managing the talent of employees within an
organisation in order to increase their skills and competency to perform various task allotted to them (Kassel,
2016). There are different tools and techniques which can be used by an organisation in order to make sure
that they are hiring talented employees and also increasing their talent. The following research is conducted on
Tesco which is a British multinational organisation operating in retail sector.
Overview of the organisation:
Tesco is a British multinational company which is operating globally and providing services in a
number of different countries. It was established by Jack Cohen in the year 1919. It is a multinational
organisation which provides a number of different services and products such as clothing, grocery, accessories
and so on. The multinational joint is using a number of different strategies in order to make sure that talent of
the organisation is managed successfully to face competition in the market.
Project aim:
“To identify the importance of talent management strategies in order to attract and retain talented employees.
A study based on Tesco
Objectives of the project:
 To develop the knowledge regarding concept of talent management.
 To identify various strategies used by organisation to manage the talent.
 To identify different ways to retain talent within an organisation
 To examine various ways used by organisations to attract talented employees and retain them.
Questions of the project:
 What is meant by the concept of talent management?
 What are various strategies that organisations used to manage their talent?
 What are various ways to retain talent in an organisation?
 What are various ways to attract talented employees towards organisation?
Rational of the project: The rationale of the research is to identify various strategies that can be used by a
business so that they can effectively manage the talent in their organisation achieving all their objectives. The
following study is efficiently supporting investigation in order to increase information about talent
management which will help in enhancing skills and knowledge in employees in an organisation. Talent
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management system is an important function in organisation which helps in expansion of business along with
Korea development of employs.
Project management plan: A project management plan is a plan or document which consist all the
information regarding fulfillment of a research (Tu, 2018 ). There are a number of different components
included in project management plan all of which are to be managed by the researcher. Below mentioned are
the components of project management plan in the following research:
Cost: Cost refers to the budget which will be required in order to fulfil the research successfully. And
expenditure budget is made by the researcher in order to note down all the cost that will be required in the
research to fulfil the research objectives. Below mentioned is a forecast budgeted expenditure report for the
following research:
Total forecasted budget
Particular 2019-20($)
Implementing technology cost 10000
Promotional expense 5000
Advertisement expense 1500
Catalogues 1000
Training charges 5500
Total cost 23000
 .
Scope: The major scope of the research is to make sure that it will help people to increase their knowledge
about talent management in an organisation. The measurement concept is used successfully to fulfil the scope
of the research.
Time: The researchers provided a particular time period in which the research outcomes must be developed
(Boyle, 2017). All the functions are dependent upon the time period and it is necessary to use Gantt chart in
order to make sure that the research is completed in time.
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Quality: Quality of the work which is included in the following research is necessary. The researcher requires
to focus upon the quality in order to make sure that proper outcomes are derived from the research and the
research can be reliable.
Communication: Communication is an important concept within a research which helps in facilitating flow of
proper information from time to time within various members included in research. There are a number of
different publication tools which are used along with oral and written communication. Email is the best way
used in the following research for communication.
Risk: There is certain risk involved in every research. These risks are influencing different functions and it is
necessary to make sure that all the resource and time for the research are used properly to avoid this risk. The
major risk in this report is identifying proper sample size in the target population to make sure that the results
are not biased in any manner.
Resources: Resources are important component in a research which helps in fulfilment of all the objective of
the research in the given time period. There are a number of different resources such as secondary resources
which are used for research along with different resources such as human resource, cost, stationery and so on.
Work break down structure: Work breakdown structure allows a system to the organisation through which
they can divide a work into various task successfully it helps the business is managing their current business
task according to the environment. The following report also can be developed into work breakdown structure
through which different task of the report can be achieved successfully within given time.
Gantt chart: Gantt chart is a tool which is used in organisation in order to manage all the different functions in
the given time period. Gantt chart includes distribution of a number of different activities as per the time that is
required to complete all these activities successfully. It is divided into priority basis and major objective of
Gantt chart is to manage time for an activity in the organisation.
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Chapter 2: Literature Review
Explain developing knowledge regarding concept of talent management
According to Vanhaverbeke, 2017, talent management is defined as a process which is used to manage
various skills and different employees in the business. It can be related to managing talent of employees in the
organisation who are performing a number of different tasks in order to fulfil the objective of the organisation.
Talent management is necessary for organisation to improve all their function and bring various opportunities
for expansion of the business make proper use of talent management. Tesco is developing various strategies
for talent management which is helping them to bring profitability and also achieve all their objectives
successfully.
Different strategies used by organisation to manage the talent
According to the viewpoint of Rowden, 2017, there are various talent management strategies that can
be used in an organisation to improve their function as well as achieve good results in future. In Tesco training
and development is used in an appropriate manner to easily manage the talent within the organisation. It helps
in increasing the capability and capacity of employs and formulation of proper training and development
program is organised by human resource department in the organisation. They are successfully using a flexible
approach to train employees for managing their employees.
Identification of ways to retain talent in organisation.
According to Halibozek and Kovacich, 2017, retaining employees in an organisation is a necessary
step which every organisation needs to take for its success and development. There are a number of techniques
of motivation and performance management which can be used by organisation in order to retain the talent.
Some of the best practices adopted by Tesco our promotion of employees as well as appraisal of employees
from time to time. Training and development of employees is also used by Tesco in order to retain talented
employees in the organisation for a longer period of time. This will successfully help business in achieving all
its objective and aligning the personal goals of employees with the objectives and goals of the organisation.
Promotion is a technique which will be used by organisation in order to make sure that the satisfaction of job
in the employs is also increased along with retaining them in the organisation.
Different ways which can be used by organisation to attract talent and retain employees for longer period of
time
According to Polonsky and Waller., 2018, there are various ways which are used by an organisation in
order to make sure that they are attracting their employs and retaining them in the organisation for a longer
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period of time. When taking Tesco into context the author have stated that a number of systems for tea
management and improvement of working practices are used by organisation to manage talent in the employs
as well as attract the talent towards the organisation. Organisation is also managing all this functions through
paying effective compensation to the employees which is a great way to attract them. Compensation helps in
fulfilling all the needs and requirements of employees and continuously motivating them in order to make sure
that they are successfully retaining in the organisation for a longer period of time.
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Chapter 3: Research Methodology
Research philosophy: Research philosophy refers to a part of research which can be directly related to
methodology of research. Research methodology is used in gathering and analysing various data using
qualitative and quantitative information present for the objective (Newton, 2016). In the following research a
positive philosophy is used to analyse the research performance in a positive manner.
Research approach: Research approach is used to define the function in research which helps in stating
objective of the research and what is the research based upon. In relation to the following research there are
various approaches used which are based on the objective of the research. It will help in bringing out positive
outcomes from the research and its proper management.
Research strategy: The strategy which is used in the research is the site of action plan which are focusing
upon achievement of the objectives of research and also defining different functions that will be conducted in
the research. In the following research appropriate strategy is used in order to perform all the functions of
research. Under specific functions and procedures action research experimental research systematic literature
reviews as well as survey interviews are used for case study discussion of the following organisation. These
are essential functions in order to perform the research effectively and achieve all the required outcomes.
Data collection: Data collection refers to the methods which are used in order to collect the data which will
help in carrying out the results and bringing the outcomes. In the following result of the research primary
sources of data are collected using a questionnaire whereas secondary sources of data are collected using
various articles, journals, publications as well as books which were already available through different
resources.
Time horizon: Time horizon refers to the context of time and in the following research cross-sectional and
longitudinal methods are helping in appropriately using and managing time for the research purpose.
Sampling: Sampling is essential in order to conduct a research which includes the research methodology. In
the following research 40 persons are taken randomly from the total population. It is the best way to choose
sample which will derive perfect result without any bias.
Research instruments: Research instruments are all the techniques and tools which will be used by
researcher in order to carry out the following research (Janssens, 2019). Interviews and questionnaire are tools
used in the following research.
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Data analysis: It is a technique which is used by researcher in order to analyse the primary as a secondary
data available to them. Talent management is the current research topic and the researcher have used data
analysis tools to reach to certain outcomes.
Ethical issues: Ethical issues are a part of research which are the necessary issues that researcher needs to
implement. It is necessary that confidentiality of reports, respondents and voluntary participation of members
is maintained in order to deal with ethical issues.
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