Analyzing Talent Management Strategies at Halfords: A Report

This report provides a comprehensive analysis of talent management strategies implemented at Halfords, a UK-based company specializing in car parts, tools, and cycling equipment. The report begins by outlining the project's aims and objectives, which include examining the importance of conceptualizing approaches to talent management and analyzing its impact on competitive strength and business performance. The report then details the project management plan, including cost analysis, scope definition, and risk assessment. The research methodology employed involves both quantitative and qualitative approaches, with primary data collected through surveys and secondary data gathered from various sources. The findings, presented using charts and interpretations, reveal that employee development is a key benefit of talent management, and that these strategies positively impact productivity and employee retention. The report concludes with recommendations for Halfords to enhance its talent management strategies, such as considering career development opportunities and prioritizing outcomes, highlighting the importance of adapting to the evolving business environment and maintaining a focus on employee satisfaction and organizational performance.

MANAGING A
SUCCESSFUL BUSINESS
ENTERPRISE

Contents
Topic: Importance of conceptualising approaches to Talent management...........................................3
INTRODUCTION.....................................................................................................................................3
TASK 1....................................................................................................................................................3
Project aims and objectives...............................................................................................................3
Project Management Plan.................................................................................................................4
TASK 2....................................................................................................................................................7
Small scale research applying primary and secondary methods appropriate for meeting projects
aims and objectives...........................................................................................................................7
TASK 3....................................................................................................................................................9
Presentation of data and finding using appropriate tools and techniques........................................9
Recommendations and data analysis to draw needful and meaningful conclusions.......................16
TASK 4..................................................................................................................................................17
Reflection........................................................................................................................................17
CONSLUSION.......................................................................................................................................18
REFERENCES........................................................................................................................................19
Books and Journals..............................................................................................................................19

Topic: Importance of conceptualising approaches to Talent management
INTRODUCTION
Considering today’s business environment in which various managers and leaders of a
business firm has to deal with not only uncertainties in firm’s operational environment but
also have to keep a regular check on company’s competitors in given marketplace of the
workforce. Management department of different companies in order to deal with such
challenges introduces various innovative strategies and plans for ensuring effective working
of an organisation (MELNIC, C., 2017). Talent management is among the management
methods in which business administrators organise separate preparation and advancement
plans for specific talented employees in order to attract and handle talented employees in the
company.
The presented research paper will focus on operational working of Halfords and various
strategies introduced by chosen company for retaining talented employees working in the
operational firm (Rezaei and Beyerlein, 2018). Respective workforce dedicates its operational
working in manufacturing of car parts, tools, touring equipment and bicycles in UK region. It
was founded in 1892, by its founder F W Rushbrooke and is headquartered in Redditch,
Worcestershire, England.
TASK 1
Project aims and objectives
Talent management is a strategic approach in which various plans as well as strategies
are being focused of respective management department of the workforce on developing and
retaining talented employee in the company (Alferaih, 2018). With context to chosen
company i.e. Halfords, Graham Stapleton, who is the current CEO dedicates company’s best
resources to ensure quality of efforts being produced by various staffs and desired goals and
objectives of business firm is achieved with effective utilisation of valuable resources of the
business firm. Various talent management approaches are being used in respective workforce,
such as;
 Developing Job Description

 Provide Opportunities to Develop
 Performance Assessments
 Selection Process
 Effective Compensation
In order to understand concept of talent management approaches within chosen
organisation as well as various difficulties faced by managers to implement such
approaches, research aims and objectives are being formulated. In regards to chosen
organisation these are as follows:
Research Aim
To determine about the importance of conceptualising approaches to talent
management along with analysing its impact in enhancing competitive strength
and business performance. A case study on Halfords.
Research Objectives
 To review about the strategic concepts of talent management along with analysing
importance of conceptualising approaches of Talent Management.
 To investigate about the Talent strategies which are adopted by best companies in
order to attract and retain skills and talented employees.
 To determine the impact of talent management in enhancing the competitive strength
and business performance of Halfords.
Project Management Plan
Project management plan refers to a formal document in which strategic breakdown
of company’s goals and objectives is being carried out (Alias and et. al., 2017). This paper
assists managers in tracking the numerous attempts made by various entities employed in a
corporate firm and developing and modifying organisation policy in response to the changing
business climate. In the case of the selected firm, administrators and executives use this plan
to boost the organization's effectiveness. To guarantee that the organisation is running
effectively against its goals. To facilitate the accomplishing organizational operating for the
achievement of desired goals within a specific timeframe. It includes various aspects which
needs to be focused by managers of the business firm;

Cost: It refers to planning and specifying cost needed for conducting several
operational activities in order to attain desires aims and objectives of the business enterprises.
In reference to this research paper, it refers to amount that is needed for a researcher to
conduct research on given topic. For conducting this research paper, there is requirement of
2000 bucks.
Particulars Amount
Marketing 200
Inventory 400
Plant and machinery 1100
Print media 300
Total 2000
Scope: With regards to this research paper, it fits perfect to fulfil requirements of
mentioned aims and objectives of this research paper. This will help to identify importance of
talent management approaches and will also focus on impact in talent management in
evaluating strengths and weaknesses of chosen organisation i.e. Halfords.
Quality: It includes collection of data and information from reliable and trusted
sources, for ensuring better quality of meta-analysis and also delivers good impression in
minds of its readers. In this present research paper all data and information is being extracted
from reliable sources (Hughes, 2019).
Time: It refers to time taken for completion of a specific project. For the current
research time of 2.5 months will be required for completion of this project.
Communication: It is regarded as a significant factor for a company different
operating activities. It entails the development of good contact between the various
employees of a company in order to ensure improved management of activities and the
creation of a profitable company. The use of electronic networking methods ensures proper
interaction during the preparation of this research study. Proper coordination is maintained
during the preparation of this research study by using current communication technologies
such as E-mails, teleconferencing, and others.

Resources: They act as a fuel for completing desired aims and objectives of specific
research paper. For developing this research paper, effective utilisation of resources is being
taken care, as with the fact of their limited presence in a business society.
Risk: It is a universal factor which has its presence in almost operational field or area
of a business firm. Risk element for this research paper is that to develop quality of research
within given resources and presence of uncertainties while developing this research project.
Work Breakdown structure and a Gant Chart
It refers to systematic breakdown of operational work in an organisational structure
and dedicates its efforts for successfully completion of desired objectives of the workforce
structure (McGuire and et. al., 2018). For better convince, usually respective project tasks are
being divided into small goals as well as objectives. This ensures proper organised work and
better coordination which enables effective utilisation of valuable resources of the business
firm.
Gantt chart
It is an excellent tool that is used for graphical presentation of various tasks and
activities to be performed or being performed in past by the company. This gives clear
understanding of true status of respective projects initiated by a company and also presents
time taken by company to complete a project that helps manager of firm to develop counter
strategies that enable firm ability to function more effectively by avoiding various issues
faced by the firm to in past and ensures it is not faced in future projects of the company.

TASK 2
Small scale research applying primary and secondary methods appropriate for meeting
projects aims and objectives
Research methodology refers to method by which research is being conducted by the
researcher. In general sense, it refers to various aspects being concentrated by a researcher
while performing a research (Ngamsirijit, 2019). In this research quantitative and qualitative
research methodology is being used.
Quantitative Research: In this type of research type, all data and information is being
collected in form of statically data and numbers. This helps in delivering of research
considering various facts and figures which adds up to reliability of report.
Qualitative Research: In this element of research type, collection of data through
interviews and different surveys is being performed. This helps developing of report by
keeping in mind current trend as well as behaviour of various individuals with response to
any company’s strategies or policy being adopted by it.
Data collection: This element ensures effective collection of required data for
ensuring quality of research paper. For conduction of this research primary and secondary
research is being performed.
Primary data collection: It includes extraction of desired data from performing self-
researches such as by performing or organising interviews or conducting surveys (Sehhat and
et. al., 2019). In this method usually data is being extracted directly from the source rather
than visiting any official website or reading books and journals.
Secondary data collection: This type of data collection includes extracting up of
required data by secondary sources such as reading newspaper, books, Journals or by
browsing internet online e-books and many more.
Sampling: It focuses on determining whether or not different principles and policies
used in the development of research are successful. This is accomplished by recruiting a
small group of citizens from a larger group (Cooper, 2019). Throughout this research study,
20 applicants are selected at random from among Halfords personnel but were questioned a
series of questions about the chosen subject.

Questionnaire
Name-
Age-
Gender-
1) As per your prospective, what is the important benefit of talent management in
context of organization?
a) Retain Best Talent
b) Development of employees
c) Retain key talent
2) In which manner, talent management and its strategies affect the company’s
productivity?
a) Positive
b) Negative
3) Are strategies of talent management useful in employee’s participation in company
for long time period?
a) Yes
b) No
4) What are the numerous applications of talent management which Halfords can use to
attract the high talented and potential employees?
a) Talent Recognition
b) Talent Development
c) Talent acquisition
d) Talent Classification
5) What is the crucial role of Human Resource function in talent management?
a) Hiring right candidate
b) Develop effective management policies
c) Design integrated systems

6) What is the different issue faced by Halfords related to talent management?
a) Tightening talent market
b) Improved employee turnover
c) Lack of the leadership quality
7) What are different method through which Halfords can make do enhancement in
strategies of talent management?
a) Consider career development opportunities
b) Prioritize outcomes
c) Identify aims
d) Create a healthy working atmosphere
TASK 3
Presentation of data and finding using appropriate tools and techniques
1) According to you, what is the important
benefit of talent management in context of
organization?
Respondents
a) Retain Best Talent 5
b) Development of employees 8
c) Retain key talent 7

a) Retain Best Talent b) Development of
employees c) Retain key talent
0
1
2
3
4
5
6
7
8
9
5
8
7
The important benefit of talent
management
Respondents
Interpretation - As per this analysis it can be said that development of employment is the
most important benefit for the organization. Most of the respondents agreed. Out of 20
respondents 8 responded that talent management lead the development of employees.
2) In which way, talent management and its
strategies affect the company productivity?
Respondents
a) Positive 16
b) Negative 4
a) Positive b) Negative
0
5
10
15
20 16
4
Talent management and its
strategies affect the company
productivity
Respondents
Interpretation - According to this research it can be said that talent management and its
strategies give positive impact on the company productivity. From 20 respondents over all 16
responded that with the help of talent management Strategies Company can increase their
productivity.

3)Are strategies of talent management useful in
employees participation in company for long
time period?
Respondents
a) Yes 14
b) No 6
a) Yes b) No
0
5
10
15 14
6
Talent management useful in
employees participation in company
for long time period
Respondents
Interpretation - After this research it is analyses that 14 respondent's out of 20 responded
that talent management is really useful to retain employees for longer time period so that
company can enhance their market value through high skilled employees.
4) What are the different applications of talent
management which Halfords can use to attract
the high talented and potential employees?
Respondents
a) Talent Recognition 10
b) Talent Development 5
c) Talent acquisition 3
d) Talent Classification 2