A Study of Talent Strategies: Marks & Spencer Case Analysis Report

This report examines talent management strategies within Marks & Spencer, focusing on attracting and retaining employees. It includes an introduction to talent management, discussing its advantages and disadvantages, and outlining various strategies like talent planning and acquisition. The report details project aims, objectives, and a project management plan covering cost, time, quality, communication, risk, and resources. It also presents a work breakdown structure and Gantt chart for project completion. Furthermore, the report outlines research methodologies, including qualitative and quantitative methods, and data collection tools. The research aims to analyze strategies employed by Marks & Spencer to attract and retain a talented workforce, including an analysis of the challenges faced and the importance of talent management. The report concludes with an analysis of research data, effective suggestions, and reflections on the project's value.

Managing a Successful Business
Project

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1: Devise clear aims and objectives for your project................................................................1
P2 Produce a project management plan that covers, aim and deliverables, time, quality,
communication, risk and resources..............................................................................................2
P 4 Produce a work breakdown structure and Gantt chart to provide timeframes and stages for
completion...................................................................................................................................3
P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives methodology.............................................6
TASK 3............................................................................................................................................9
P5. Analyse research and data using appropriate tools and techniques.......................................9
P6. Communicate effective suggestions as outcome of finding and data analysis....................14
TASK 4..........................................................................................................................................15
P7 Reflect on the value of undertaking the project to meet stated objectives and own learning
and performance........................................................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

RESEARCH TITLE: What talent strategies do the best companies use to attract and retain
people. A study of Marks & Spencer.
INTRODUCTION
Talent management is considered as one of the essential part of firm as well as this drives
towards having affect upon whole business performance and productivity. Moreover, this is
defined as the procedures of attracting as well as retaining staff that are much competent for
attaining objectives (Makkonen, 2020). For this report, the undertaken company is Marks &
Spencer which is known as one the British multinational retailer having headquarters is in
London, England. It basically experts in selling food products, home products and clothing under
their own brand name. It operates in around 29 countries and Hong Kong. Also, it has 198
franchised outlets along with 19 directly owned shops in Hong Kong. These topics that are going
to be covered in this report are project aim, objectives and planning related to managing project.
Moreover, the time frames along with literature are also explained. Apart from this, the research
methods, data analysis and recommendation are also discussed in this report.
TASK 1
P1: Devise clear aims and objectives for your project.
Introduction
Talent management is considered as strategy which is used by a company for managing their
employees so that they feel motivated and encourage to perform effectively. The respective
section of project include information related to advantages and disadvantages of talent
management along with its strategies.
Advantages of talent management
The advantaged gain by Marks and Spencer by conducting talent management are they able
to retain the top talent as well as it also leads to better hiring. This will also leads to motivating
employees so perform in best manner. Moreover TM also help in taking better professional
decision successfully.
Disadvantages of talent management strategy
There are several disadvantages of talent management strategy which are experienced by
Marks and Spencer such as it exceed their budget. In addition to this, it also leads to conflict
among workers which affect their productivity as well as it limits the leadership.
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Talent management strategy
There are numbers of strategies which can be adopted by Marks and Spencer for conducting
talent management such as they do talent planning, talent acquisition, performance management,
hiring of best person and many more(Oyarzun, Martinand Moore, 2020).
Research gap
The research gap in respective project is related to the lack of resource as for conducting
respective project, project manager required several resources but they get it in the limited ratio.
Due to which they not able to gather most appropriate as well as authenticate information for
project.
Background of the topic and organisation- This research document will consider
information about talent management and preservation that is a procedure of managing and
keeping talented workers of the company and devise an efficient engagement in the development
and progress of the organisation (Marinakou and Giousmpasoglou, 2019). Furthermore, research
project will include information about research techniques, methods of data collection which is
used to collecting appropriate and reliable information for attaining the research objectives in
more developed manner.
Marks & Spencer is a British multinational company that was incorporated in 1884 and is
headquartered in London, England, UK. The company runs its business at international scale
with the assistance of its estimate 959 outlets and commodities like clothing, food items and
home products etc. This company provide commodities of diverse brand such as Per Una,
Autograph, Limited, Roise, Blue Harbour, M&S collection and M&S energy etc. There are
approx 80,000 workers are employed by this firm and they make they involvement in running the
business activities and operations in more effective form.
Research aim- “To analyse the strategies that are implemented by establishment to attract and
retain talented workforce. A case study on Marks & Spencer.”
Research objectives
 To understand the conception of talent management and preservation.
 To monitor the plan of actions which is executed by the administration of M&S in term
of retaining skilled manpower.
 To determine the confronts that are suffered by M&S in form of administrating and
preserving individual within M&S.
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 To examine the essentialness of retaining and administrating talented people of firm.
Research Questions
 What is the concept of talent management and retention?
 What are the strategies that is utilised in term of retaining and administrating workers?
 What are the challenges which suffered by M&S to manage its skilled workforce?
 What is the importance of talent management?
P2 Produce a project management plan that covers, aim and deliverables, time, quality,
communication, risk and resources.
Project management plan is considered as technique through which a project manager
showcase all the effective elements of the project. Moreover it also help them in conducting
planning for the further accomplishment of work successfully (Reedand Angolia, 2020). The
main elements which covered in project management plan are aim and deliverables, time,
quality, communication, risk and resources. Below explanation of these elements are given in
respect of this project:-
 Cost – It is consider as cost which is required by project manager in order to complete the
project successfully. The cost required for respective project is £ 1000 for complementing
project successfully.
 Time – It is determined as time duration which is needed by a project manager in order to
conduct all the work in proper way so that they attain desire goal. The respective project
will start on 12th October 2020 and end at 20th December 2020.
 Quality – In is related to strategies which is used by project manager for maintaining the
quality of research. In respect of this research for maintaining the quality manager is
adopting strategies like provide training, do evaluation at every stages, determine risk and
so on.
 Communication – It is determined as methods which is used for conducting
communication. In this project, manager will conduct meeting as well as provide email in
order to do communication.
 Risk – This is related to risk which involve in project. The risk involve in respective
project are not attainment of desire outcome, lack of resources at the end, other not
understand the objective and so on(Shirley, 2020).
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 Resources - This element showcase resources which is required by researcher for conduct
research. The research need for this project are time, money or funds, skilled employees
and so on.
P 4 Produce a work breakdown structure and Gantt chart to provide timeframes and stages for
completion
Work breakdown structure
Work breakdown structure is considered as method which is used to getting a complex,
multistep project done (What is Work Breakdown Structure in Project Management?, 2020).
Through this project manager divide as well as conquer huge project so that they get the work
done in effective and faster way. It is generally a hierarchical tree structure which outline about
the project as well as breaks it down in small section so that work can be done fast and properly.
Work breakdown structure is determined as technique which generally divides all deliverables of
project into the sub deliverables (What Is Work Breakdown Structure?,2020). Through this
project manager and team manage work properly which leads to attainment of their desire goal
successfully as well as on time. In this all sub deliverables get its own budget as well time
estimation.
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Gantt chart
Gantt chart is a helpful graphical instrument which shows exercises or errands performed
against time (Definition of 'Gantt Chart',2020). It is otherwise called visual introduction of a
venture where the exercises are separated and shown on an outline which makes it is
straightforward and decipher.
Gantt chart is a venture the board apparatus aiding the arranging and planning of tasks,
everything being equal, in spite of the fact that they are especially helpful for rearranging
complex undertakings (What is a Gantt chart?, 2020). Undertaking the board timetables and
assignments are changed over into a flat bar graph, demonstrating start and end dates, just as
conditions, booking and cut-off times, including the amount of the errand is finished per stage
and who is the assignment proprietor.
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P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives methodology.
Research methodology
This indicates specific methodologies to carry out, picked up and explain details regarding
analysis subject matter. This is as arranged that systematic analysis, examine, inquiry and
inspection (Pandita and Ray, 2018). This is an action of collecting data for giving corporate
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commitment. This also helps in explaining and inspection of market that is applied for resolving
future time problems of an enterprise. This is expressing the corporate problems, creation of
theory, and resolution of data and examination of market.
Qualitative method- This is a process which tangles meaning of particular analysis of
examination judged on type of quality to find out what response and output is examine. This is
basic explained data. This is a technical way of collecting data that is monitoring of gathering
data in non statical data of focused theories, recommendations and inspiration. This is most
beneficial way to recommend developing parts, issues, effectiveness and active action. This
supposes lots of time and money because of collecting more information, explaining and
conversing them become very long.
Quantitative method- In this method, the data is gathered in level type, units to project
graphs, rows and column in tables. It defines in a specific type with the instrument of
mathematical, numerical, graphs, bars and tables. The collection of information is in numerical
way such as pools, quiz, observation, online observation, telephone, report, conference, mail and
so on (Narayanan, Rajithakumar and Menon, 2019). This collect relative and precise data that is
collect in simpler type by inspector and good for inspection and develop theory with more scope
of data collecting. As improper and insufficient data of approach of numerical testing may affect
unfavourably to map and inspect data because of long specimen is required for attractive data.
Mixed research- It indicates to an embryonic method of research which advances the
systematic addition o mixing of quantitative and qualitative data within a single research or
sustained program of research. In this method, the researcher assembles information to assess
individual’s knowledge and risk perceptions and close ended questions and both forms of
information are integrated and determined.
Make the determined analysis theories, this can be observed that for the achievement of this
analysis topic in precise way, the surveyor can use qualitative method (Gupta, 2019). Inspector
decides this instrument as it beneficial in collecting best and direct data regarding particular
project. With the help of research topic, investigator can receive more and long information that
can be helpful in getting project targets and motives.
Data collection tools
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This directs to such methods and instrument which are used by the investigator I’m
gathering information. Basically these are two types and centre of collecting data, which are
explained below:
Primary source- By the help of gathered information instrument, investigator can gather
correct and direct data by making one hand communication and talk. Few are different types like
group discussion, conference, quiz, etc. due to this investigator can collect relative and precise
information.
Secondary source- This directs third party data which is available in advance on various
location and gathered as well used by another persons. There are various methodologies like
government sites, magazines, books, topics, inside collection of organizations, projects and
websites, journals and so many things which the investigators in collecting the information.
With the main centre of information gathering, this can be mapped that in present analysis
project, the investigator ordered the main centre of information gathering as it is valuable to
collect correct data and relative data from decided type of specimen. In the present analysis
projects, the analysis can use quiz as a instrument of data collection.
Sampling- This is a instrument and techniques which is used by a corporative enterprise to
decide and classify a micro specimen for large unit of person and public (Akunda, Chen and
Gikiri, 2018). This helps the investigator in collecting precise and relative data to make the
analysis project successful. In the following project paper, the investigator decides size of 10
persons from employees of Marks & Spencer and follows simple random sampling.
Questionnaire-This directs a handy paper which contains chain of inquiry or a span of
enquiry to gather correct information from its focused and chosen amount of persons. This is an
main instrument as by completing this method, the investigator can immediately contact and
make conversation with persons and collect relative suitable data as per requirement.
TASK 3
P5. Analyse research and data using appropriate tools and techniques
Theme 1:
Q1. Are you familiar with the concept of talent management and
retention?
Frequency
(a) Yes 6
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(b) No 4
Interpretation- This has been summarised from the preceding visual communication that
among the population of 10 participants 6 are viewed that they are well aware with the
conception of talent retention and management whereas remaining 4 are replied that they are
known with this sort of concept.
Theme 2:
Q2. What are the plans of actions which are executed by the
administration of M&S in term of retaining qualified and skilled
workforce?
Frequency
(a) Peron organisation fit 3
(b) Reward and compensation 7
Interpretation- From the above described numeral data, it has been analysed that among
the number of 10 participants, 3 workers are agreed with person organisation fit that it is a
effective tactic to administrate workers. Whereas remaining 7 are supported to compensation and
reward is crucial for retaining skilled manpower.
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Theme 3:
Q3. Are you agreeing that these strategies will assist in
managing talented workers in M&S?
Frequency
(a) Yes 8
(a) No 2
Interpretation- This has been monitored from mentioned graph that between the number
of 10 people, 8 are agreed that the strategies of talent management that are used by M&S are
effective and will assist in managing knowledgeable employees. Whereas enduring 2 workers are
disagreed with this that the techniques of respective venture are not sufficient to retain workers.
Theme 4:
What are the challenges that suffered by the management of
M&S due to lack of talent management?
Frequency
(a) Enlarge employer turnover 1
(b) Lack of leadership 9
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