Strategies for Talent Management in Business Project Report

This report delves into the critical aspects of talent management within a business project, focusing on strategies to retain employees and enhance productivity. The report begins with an introduction to talent management, emphasizing its importance in achieving organizational goals. It then outlines the project aims, objectives, and research questions, followed by a detailed project management plan, including scope, time, quality, communication, risk, and resource considerations. A work breakdown structure (WBS) and Gantt chart are developed to illustrate the project stages and timelines. The report further explores both qualitative and quantitative research methods used to develop the project management plan, analyzing data with appropriate tools and techniques. Finally, the report provides recommendations based on the research findings and includes a reflective section, concluding with a comprehensive overview of the strategies for talent management in business context.

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1) Discuss project aims and objectives for the scenario.......................................................4
P2) Develop a detailed project management plan..................................................................4
P3) Develop a work break down structure and Gantt chart to discuss stages as well as time
frame of project completion...................................................................................................6
TASK 2............................................................................................................................................8
P4 Discussing methods involved in a research both qualitative and quantitative to develop
PMP........................................................................................................................................8
TASK 3..........................................................................................................................................10
P5) Analyse data and research by using appropriate tools and techniques..........................10
P6) Recommendations in context of scenario......................................................................17
TASK 4..........................................................................................................................................18
P7) Reflection.......................................................................................................................18
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
In business sector, managing activities and operations is important so that goals and
objectives are achieved in proper manner (Cavka, Staub-French and Poirier, 2017). Managing
project is an essential procedure which is needed to be carried out with proper considerations.
Talent management is defined as approach of retaining employees in management to achieve
higher productivity. Main aim of this report is to understand the impact of talent management &
use effective strategies to gain higher retaining period of employee. This report comprises of
project aims and objectives, project management plan, WBS and Gantt Chart , research
methods, tools and techniques data analysis and recommendations.
LITERATURE REVIEW
According to Chongwatpol, (2016), talent management refers to approach of increasing
efficiency as well as productivity within entity through retention of employee. It is an effective
approach which is needed to be adopted with proper consideration. In organisation, HR of
company should be aware about different approaches and strategies of human resource
management which is essential to maintain positive environment at work place. Here, concept of
talent management play a vital role in formulation of several strategies with an aim to improve
productivity of subordinates at work place. With an appropriate knowledge of this concept, it is
easy to take necessary decisions to ensure growth of organisation.
According to Chad Halvorson, (2018), there are several strategies are used by Morisoons
in order to retain employees for longer run. They provide competitive salary and other benefits to
subordinates so that they stay motivated. In addition, they emphasis to maintain better
relationship with employees in order to know their grievances and provide appropriate solutions.
Here, higher authorities lead and guide work force in better manner so that they stay with
organisation for longer run.
According to Rich Wellins, (2006), there are several approaches are use by managers in
order to develop appropriate strategies of talent managers. Here, they prepare appropriate job
description in order to provide clear idea to employees about their roles and responsibilities
within company. In addition, there is an effective process is used in order to select most suitable
candidate to attain predefined organisational goals.

TASK 1
P1) Discuss project aims and objectives for the scenario
Rational: This project is based on the effectiveness of talent-management strategies
within company that is conducted to undertake necessary improvements in talent-management
strategies of company. It also provides significant information that will help to enhance in the
skills and capabilities of researchers. It will help to develop effective time management,
analytical skills that is essential to grow in career. It is analysed that the given project will assist
managers to prepare effective strategies to retain employees with company for longer run and
identify difference tools of talent management for the betterment of organisation. Therefore, it
will helpful for both researchers as well as company by providing valuable insights on talent-
management.
Research title: “Strategies of talent management used by organisation to retain
employees”
Research Aims: This report has been undertaken with an aim to evaluate the
effectiveness of talent management strategies in company.
Research objectives:
 To evaluate the effectiveness of talent management strategies.
 To develop strategies in order to retain employees within organisation. To identify different tools and approaches that are associated with talent management.
Research questions:
 What is the effectiveness of talent management strategies?
 What are the strategies that can be used to retain employees within organisation?
 What are the tools and approaches that are associated with talent management?
P2) Develop a detailed project management plan
It is analyse that there are several predefined steps, activities and procedures are followed
in order to attain desired outcomes from project (Dijkstra, van Beukering and Brouwer, 2020).
Management plan focuses to formulate appropriate strategies by considering several factors that
are essential to successfully completion of a project. In context of Morrisons, entity focus to
formulate PMP to take appropriate decisions with an aim to attain set goals and objectives.
Components to prepare an effective project plan are given as under:

Scope: There is a huge scope of success of talent management practices adopted by
Morrisons with an aim to maintain positive environment at work place. Here, tools, approaches
used by company at global level are effective and appropriate as per their present condition.
Time: It is essential to determine the time frame in which a project can be completed.
This will help to complete the assigned task in predefined period of time. Here, managers will be
required time period of 11 weeks in order to complete project successfully.
 Task to perform  Expenditure (Pound)
 Examination issues  50000
 Plan development  40000
 Analysis of research  50000
 Researcher's salary  40000
 Other expenses  55000
 Execution expenses  65000
 Total Amount  300000
Quality: It focuses on overall quality of data as well as information collected for
research. As the results of research will completely depend on data and information thus it need
to be correct and should be gather from reliable sources (Doz, 2016). So, managers of respective
company use primary as well as secondary sources to get quality information in order to build an
effective project.
Communication: Here, it is essential to have proper communication between different
individuals who are involved in completion of project. There are several tools such as text,
emails and social media platforms are used by researcher with an aim to communicate with other
relevant parties.
Risk: This is an another significant factor under which risk that may be occur before,
during and after the project are discussed. Nowadays, business environment is dynamic that may
become a major reason of occurrence of business risk. There are several uncertainties and risk
factors associate with organisation which significantly affect its performance. Different kind of

risks have been identified for current project such as time consumption, requirement of huge
fund and more (Harris, 2017). There are several activities such as requirement, selection and
more are associated with talent management that also affect other departments of organisation
except human resource divisions.
Resources: Different resources such as tools, data, information, funds are required to get
desired outcomes from a project. Here, use of appropriate resources will help managers to obtain
positive outputs from project.
Above stated components are essential to undertake a successful PMP plan that will help
researcher to successfully complete assign project. It is the responsibility of manager to ensure
availability of all necessary resources, have effective communication and determined risk and
scope before undertaking a project.
P3) Develop a work break down structure and Gantt chart to discuss stages as well as time frame
of project completion
During research, it is essential to get appropriate knowledge about various tools and soft
wares in order to attain predefined goals and objectives. Here, Gantt chart and WBS both are
crucial tool that help to conduct research in better manner (Kozak-Holland and Procter, 2020).
These tools include several steps and assist managers to take effective decisions to ensure timely
completion of project. Moreover, for Morrison, it is crucial to undertake and implement these
tools at various stages of project to accomplish predefined goals.
Gantt chart:
It is a tool that is used to schedule different activities of a project in better manner so that
predefined objectives can be achieved. This tool is beneficial for all kind and size of projects. It
simplify complex projects by demonstrating deadlines, scheduling necessary activities for
projects. It gives a graphical display of overall project, timeline and deadlines along with
dependencies between various activities. Therefore, it helps managers of Morrisons to arrange
necessary resources, manpower, funds which will require to complete the assigned project in
stipulated time period. Here, it is the responsibility of managers to analyse statistics, data,
graphs in order to draw necessary information that is essential to undertake project in better
manner.

1 10/05/20 At this day, I was initiated the project so I under several
activities of group discussion and brainstorming in order to get
detailed knowledge.
2 17/05/20 Here, I analysed the outcome of I will receive after completion
of project as well as the direction in which project will work.
3 21/05/20 In this, I will discuss my ideas thoughts with my mentors and
other experience person to get their guidance
4 29/05/20 Here, I will determine requirement of funds for my project with
the help of graphs and charts
5 07/06/20 At this day, I will prepare appropriate strategies to complete
project successfully.
6 21/07/20 On this day,my project will get credentials through data and
information as here I will gather necessary information through
primary and secondary sources.
7 In this, I will review all gathered information to get better results
8 29/06/20 I will travel to different places, destinations and meet with
different individuals in order to collect reliable information.
9 29/06/20 Here, data entry will be done to keep gathered information in

proper manner.
10 17/05/20 In this, I will analyse outcomes from research after successful
completion of assigned project.
11 02/07/20 On this day, I will monitor the data that was collected for the
purpose of research.
12 1st November Here, project has been completed now, I will deliver presentation
to present necessary outcomes.
WBS: It is a tool under which whole project is divided in smaller activities with an aim to
complete project in successful manner. Here, it is easy to divide the work among employees
working within organisation in order to attain predefined goals in stipulated period of time. In
regards of Morrisons, it is crucial to use this tool so that employees can perform assign task
effectively (Lindhard and Larsen, 2016). It also reduce down the complexities of project and
provide ease to work force that is essential to improve their productivity.
It is analysed that above stated tools are crucial as it helps to identify time frame,
deadlines of project which provides clarity to different individuals working within organisation.
Therefore, it is imperative for managers to have proper knowledge about these tools in order to
attain predefined goals.
TASK 2
P4 Discussing methods involved in a research both qualitative and quantitative to develop PMP.
Information and data gathered to produce a project help managers decide which research
method can be used for developing a project management plan. Business objective of Morrisons
can be achieved through adoption of required research methods and processes that helps them
meet up the actual goal of the organisation. Some of these research methods are discussed as
follows:
Quantitative approach: This research logically focusses on gathering information in
numerical terms. The research itself tells story of specific group experiences that can be proven
practically by facts and figures used. Researchers find the approach challenging as it is a
deductive traditional approach (Marzagão and Carvalho, 2016). This inductive approach for

research study states that first data is collected and then explanations are derived from them
making it more exploratory, insightful for individuals and groups to understand aspects of their
own words.
Qualitative approach: This research deals with collecting and analysing non- numerical
data gathered from open sources through informants consisting of magazines, browsing over
internet, newspapers etc (Masco, 2020). The process explains how an individual or a group of
individuals react to social reality by understanding it theoretically.
Here, for current research qualitative approach is more is used by researcher with an aim
to get detailed insights on the research topic. Therefore for current research qualitative approach
has been used in order to draw meaningful conclusion form
Methods of data collection
Data collection is necessary for achieving organisations goals and objectives by utilizing
data in an appropriate manner (Mikkelsen, 2020). Research information collected by employers
of Morrisons help them connect to their employees, vendors, outsiders and suppliers. The type of
data collection methods used are discussed below:
Primary Data: This form of data is collected through open sources such as observation
of participants, interviews, on-spot surveys, handwritten original manuscripts, public records,
autobiographies fiction artefacts, letters and many more.
Secondary data- This data contains sources having analysis of original event that has
happened providing interpretation or criticism of the experienced event ( Olins, 2017). Example
of secondary data for collection can be textbooks, biographies, historical films and articles from
event occurred.
Thus, primary and secondary sources are used to get necessary information for project.
Here, selection of appropriate techniques is really essential to attain predefined goals of project.
It will help managers of respective company to take appropriate decisions to ensure future
growth and success of entity. For present report, primary as well as secondary sources are used
by researcher to collected necessary data. Through primary investigator is able to get more
reliable and authentic information that will helpful to react at meaningful conclusion. On another

side, with secondary sources such as websites, journals are also used by researcher to get detailed
information on research topic.
Sample size: In this, respondents who participated in research are included. It comprises
customers, employees, managers and other stakeholders form whom response will be gathered.
There are 30 respondents have been selected for current report.
Questionnaire
1.Does talent management is beneficial for the growth and development of company?
 Yes
 No
2. What is the most suitable strategy for talent management?
 Staffing
 Training and development
 Recruitment
3. Challenges that can be witnessed by Morrisons if talent management concept do not properly
adopted?
 Low productivity
 Negative benefits
 None of the above
4. HR manager of Morrisons follow appropriate strategies of talent management?
 Yes
 No
5. For how many years employees should retain?
 1 year
 2 year
6. Does selected firm can retain employees for longer period of time?
 Yes
 No
7. Do you think that talent management approaches will help to enhance productivity of

employees at work place?
 Yes
 No
TASK 3
P5) Analyse data and research by using appropriate tools and techniques
It is essential for managers to be aware with different techniques that are used to evaluate
available data and information. For the current report, A questionnaire has been prepared with
the help of 30 respondents. Here, data has been gathered from those respondents in order to draw
appropriate conclusion.
Theme1: Does talent management is beneficial for the growth and development of company?
Frequency
Yes 20
No 10
20
10
Yes
No

Interpretation: From the above chart, it is analysed that there are some 20 people who
are agree that talent management approaches are helpful fro growth of organisation. On another
side, there are 10 individuals who disagree with this fact. Therefore, as per the majority of
respondents talent management is crucial and play a significant role on overall growth of
company.
Theme2: What is the most suitable strategy for talent management?
Frequency
Staffing 15
Training and development 10
Recruitment 5
Interpretation: With above chart, it is evaluated that there are several strategies are used by
managers for talent management. There are 15 respondents who are in favour of staffing while
10 employees understand recruitment as an important strategy of talent-management. There are
15
10
5
Staffing
Training and
development
Recruitment