Project Report: Talent Management Strategies for Next Plc Company

This report investigates talent management strategies at Next Plc, a public limited company in the retail sector, focusing on attracting and retaining skilled employees to improve performance. The project outlines aims, objectives, and a comprehensive project management plan covering communication, quality, risk, time, and resources. It includes a work breakdown structure and Gantt chart for project timelines. The research employs qualitative and quantitative methods, using questionnaires to gather data. Findings are analyzed to provide recommendations for Next Plc, and a reflective practice assesses self-performance. The report concludes with insights into the value of talent management for organizational success.

Talent management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1 Devise project aims and objectives for a chosen scenario.....................................................1
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources..............................................................................................2
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion..............................................................................................................................4
TASK 2............................................................................................................................................6
P4 Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives...................................................................6
TASK 3............................................................................................................................................9
P5 Analyse research and data using appropriate tools and techniques........................................9
P6 Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................17
TASK 4..........................................................................................................................................18
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance........................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
Appendix 1: PERFORMANCE REVIEW REPORT....................................................................20
Appendix 2: PROJECT LOG-BOOK............................................................................................20

INTRODUCTION
Talent management strategies can be described as the approaches that is used by
organisation in order to attract as well as retain talented employees within business. Talent
management is one of the vital part of business that is huge for improving execution and abilities
of business. It is essential that organization is thinking about viable talent management practices
to draw in exceptionally abilities and capable workers with in business (Kaltenbaugh and
Parsons, 2021). This report is based on Next Plc company. This is a public limited company that
is performing its practices in retail sector. Next plc organisation was founded by Joseph
Hepworth in the year 1864. This company is providing high quality fashionable products and
services to different parts of the world. Next Plc’s head office is located in Enderby, England,
UK. The aim of this report is to the talent management strategies that is useful for attracting and
retaining skilled employees within business in order to improve its performance. This report
includes information about project management plan along with aims and deliverables, time,
quality, communication, risk and resources. It consists of work breakdown structure and a Gantt
Chart. In this report, primary and secondary method as well as qualitative and quantitative
approach for collecting data has been determined. In the respective report, the findings are
presented in an accurate manner and recommendations has been provided as well. Apart from
this, reflective practice has been conducted in order to determine self performance.
MAIN BODY
TASK 1
P1 Devise project aims and objectives for a chosen scenario.
Research aim
“To investigate the talent management strategies that is useful for attracting and retaining skilled
employees within business in order to improve its performance.” A case study on Next Plc,
United Kingdom.
Research objective
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 To determine the concept of talent management within an organisation
 To analyse different talent strategies which are considered by Next Plc company in order
to attract and retain people.
 To evaluate the significance of effective and efficient talent management strategies for
improving performance and productivity of business.
Research question
 What is the concept of talent management within organisation?
 What are different talent strategies which are considered by Next Plc company in order to
attract and retain people?
 What are the significance of effective and efficient talent management strategies for
improving performance and productivity of business?
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources.
Project management plan can be described as practices of developing and outlining project
activities in order to attain desired goals (MADUEKE, Okoro and BABARINDE, 2020). It is
essential for project manager to develop effective and efficient project management plan in order
to successfully performing business practices. This plan includes information about different
aspects and elements of the project which is needed to be accomplished. Project management
plan consist of various factors such as, communication, quality, risk, aims, deliverables, time and
resources. All of these elements of project management plan is mention below –
 Communication – Communication can be described as the practice of interacting with
other with the motive of gathering and collect data. Researcher needs to communicate
with various stakeholder in order to collect or gather data and information about the
research topic.
 Quality – Quality is a crucial part while conducting practices of the project. It is
fundamental for researcher to conduct accurate research practices with the motive of
gathering appropriate information. High quality of collected information will directly
assist in accomplishing objective.
 Risk – There are different kinds of risk components that will lead have influence over
execution of the research practices. It is fundamental for researcher to decide all risk and
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foster powerful technique to manage it. The significant risk that is implied in this
research is misuse of information or performance of unethical practices.
 Aims – The aim of respective project management plan is to investigate the talent
management strategies that are useful for attracting and retaining skilled employees with
in business in order to improve its performance
 Deliverables – It can be referred as the yield of the project plan which should be refined
by individual to accomplish wanted objectives. It is essential for project manager to carry
out practices in significant and effective manner with the motive of attaining required
goals.
 Time – It refers to the time length that is required by individual to effectively complete
research rehearses and achieve objectives. In this research project, examiner will require
8 weeks of time span (Onyusheva, Thammashote and Thongaim, 2020). This time
duration will be significant in order to gather required information as well as attain
objectives of project.
 Resources – It can be described as all the assets and elements which are needed to
successfully perform project plan. In this research project, supervisor will require human
resource, financial resources and so on.
 Cost – This can be refer as the actual money or funds required by researcher for
performing research practices. It is crucial to have appropriate amount of cost in order to
successfully conduct project task.
Particulars Amount
Promotion expenses £80
Cost incurred in technology £100
Other Expenses £90
Total Cost £370
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P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion.
Work breakdown structure
It can be described as a tool or approach which is used by project manager in order to
successfully and effectively conduct practice. The work breakdown structure includes separating
deliverables. Work breakdown structure is a kind of project management that offers a visual
method to detail the deliverables inside a project. Through work breakdown structure, project
manager is able to classify large task into smaller parts as well as focus on attaining small goals
(Shimasaki, 2020). Thus, work breakdown structure is great for complex projects that include
various advances and partners. The work breakdown structure partitions all deliverables into sub-
deliverables until they are reasonable enough that one individual can finish them. Every
deliverable likewise gets allocated a cost and time measure. Work breakdown structure play a
significant role in project management plan and help project manager.
Gantt charts
Gantt chart is refers as the tool of project management which is shown in a form of bar chart.
This is consider as best project management device that is huge for directing various exercises of
project in viable and effective way. Gantt chart is created by Henry Gantt who is an American
designer and project management consultant (Wacklin, 2020). Gantt charts are most ordinarily
utilized for following project plans. It is valuable to have the option to show extra data about the
different tasks or periods of the project. This is considered as a very effective tool of project
management as it provides several benefits to project manager to successfully complete the
project. Gantt charts envision the structure squares of a project and put together it into more
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modest, more sensible tasks. The subsequent little tasks are booked on the Gantt charts timeline,
alongside conditions between tasks, chosen ones, and milestones. In this, all activities of the
project can be represented in significant and accurate manner.
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Milestones of the project
The milestones of this project includes high priority task, checkpoints as well as deliverables. In
this project, manager is responsible to determining milestones in order to successfully and
effectively conducting practices of the project. Manager will make sure the they have proper
funds and other resources in order to perform project activities.
TASK 2
P4 Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives
Research methodology is can describe as the way of collecting and gathering information
that is needed for attaining desired outcomes. It is essential for researcher to consider correct and
accurate research methods which assist in meeting project aims and objectives. There are two
research methods such as qualitative and quantitative research method. This is mention below in
detail –
 Qualitative Research – Qualitative research includes gathering and breaking down non-
numerical information to get ideas, conclusions, or encounters. It very well may be
utilized to assemble top to bottom experiences as an issue or produce groundbreaking
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thoughts for research. This kind of research consist of quality and in depth information
about the topic. The information collecting and research practices can be adjusted as
innovative thoughts or examples occur.
 Quantitative research – Quantitative research is the procedure which researchers use to
test speculations about individuals' perspectives and practices dependent on numerical
and statistical proof. It includes gathering and breaking down numerical information for
statistical examination. This includes different methods of data collection such as
questionnaire, focus group, experiments, interview and so on.
In this research project, investigator is considering quantitative research which includes
questionnaire method in order to gather correct and appropriate information about the
research topic.
Questionnaire
Name –
Age –
Contact number –
1. Are you well aware regarding the idea of talent management strategies?
Yes
No
2. As per your views, what is the crucial purpose of talent management practices within an
organisation
 To identify and recruit required candidate
 Develop strategic process
 Increase company performance
 All of the above
3. Do you consider that talent management is effective process through which businesses
can recognize as well as develop talented people?
 Agree
 Disagree
4. According to you, what is the major significance for Next Plc company to use effective
talent management strategies?
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 Help in attracting skilled candidate
 Improve productivity
 Reduce employee turnover rate
 Enhance working environment
 All of the above
5. As per your views, what are the talent strategies that needs to be used by Next Plc
company to successfully attract and retain skilled employees within an organisation?
 Develop detailed job description
 Provide continuous improvement opportunities
 Create positive working culture
 Collaborative working
 All of the above
6. What are the key factors related to talented motivated employees which is important for
influencing success of business as well as gaining competitive edge in industry?
 Staff retention
 Training and development
 Improving morale of employees
 All of the above
7. Do you feel that Next Plc company faces any issues while conducing talent management
practices in significant and effective manner?
 Yes
 No
8. According to you what are the major challenges for company in order to successfully
perform talent management strategies and process?
 Increase in business costs
 Recruitment difficulties
 Changing attitude of employees
 All of the above
9. Do you have any suggestion for manager of Next Plc company to correctly manage
talented and skilled employees with the motive of successfully performing organisational
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activities?
TASK 3
P5 Analyse research and data using appropriate tools and techniques.
Theme 1 – The idea of talent management strategies
1. Are you well aware regarding the idea
of talent management strategies?
Frequency
 Yes 45
 No 5
Interpretation – Through the above mentioned data, it has been analysed that out of 50
respondents, 45 have an idea about talent management strategies. Whereas, only 5 respondents
says that they do not have an idea about talent management strategies.
Theme 2 – The crucial purpose of talent management practices with in organisation.
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