A Detailed Report on Talent Management Strategies for Business Success

This report delves into the crucial aspects of talent management within organizations, focusing on strategies for attracting and retaining competent employees. The report, based on a case study of Marks and Spencer, examines the core concepts of talent management, evaluates various workforce management strategies, and identifies challenges faced by HR managers. It includes a comprehensive project management plan, work breakdown structure, and Gantt chart. The research utilizes primary and secondary data collection methods, including quantitative and qualitative analysis, to present findings on employee perceptions of talent management. The report concludes with recommendations on training, diversity management, and overall strategies for fostering a motivated workforce and achieving long-term competitive advantage, emphasizing the importance of effective talent management processes for employee retention and organizational success. The report also includes reflection and references.

Managing a Successful
Business Project

Table of Content
 Introduction
 Project aims and objectives
 Literature Review
 Project management plan
 Work breakdown structure and Gantt chart
 Research Methods
 Presentation of the data and findings
 Communication of the recommendations
 Reflection
 Conclusion
 References

Introduction
Talent management concept is related to managing the overall workforce in
organisations for the purpose of maximizing its value in terms of over organisational
functioning. It is not a onetime activity but a continuous process that involves
attracting and retaining of high quality employees development of skills and
continuous motivation in order to improve their level of performance. The primary
purpose of talent management is to create a motivated workforce that can help an
Organisation in long run competitive advantage.

Project Aim and Objectives
 Aim: “To analyse different talent management strategies adopted for retaining and attracting of
competent talent.” A study on Marks and Spencer.
 Objectives:
 To analyse the basic concept of talent management in Marks and Spencer.
 To evaluate various strategies used for retaining and managing workforce in Marks and Spencer.
 To identify different issues faced by the HR managers of Marks and Spencer in the process of talent
management.

Literature Review
 The basic concept of talent management strategies
 As per viewpoints of Mona Momtazian (2017), talent management is related to having top performer
employees in an organisation with high level of potential. It is regarded as a process of systematic
attraction, development, identification, engagement, retention and deployment of individuals that
can help in enhancing the particular value of an organisation. This concept is associated with having
a high potential for upcoming future time because it helps in fulfilling the requirements of critical
roles in business operations.

Project Management Plan
 Cost: It is referred as the amount used for developing and implementing all the activities
associated to research.
 Time: It is defined as one of the important component that is needed in order to attain
objective of investigation within given timeframe
 Scope: It is another vital element of investigation as it gives description about the actual
scope of investigation within the business zone as well as real life.

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 Quality: Researcher will maintain quality of investigations by taking all the data from the
authentic and reliable sources
 Communication: It is analyzed that the execution of research work also needs an effective
communication between the people associated (Sarvimäki, 2017).
 Risk: one of the major risks related with the present study is misuse of participants
information which may impact on the confidentiality
 Resources: These are the aspects that are helpful in completion of projects within the given
time period.

Work Breakdown Structure and Gantt Chart
 It is defined as a project management application which is used in order to categorize the whole task
into different activities so that it can implement out in a proper manner. In addition to this, it mainly
divide the activities of same type for attaining targets of project.

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It is basically the graphic presentation of
activities that can be performed within a
project against the time. It is also known
as visual presentation of a project. Gantt
chart breaks down the activities of
investigation that can be done by given
period of time

Research Methods
 Primary data: It the first hand information that is collected by investigator in these results is
more authentic and reliable.
 Secondary data: It the method in which there is collection of existing information and data
from online available sources or existing sources (Ferran-Ferrer and et.al., 2017
 Quantitative method: quantitative method is a research methodology in which data is collected
and expressed in form of graphs cha
 Qualitative method: qualitative method of research is in which it is also sometimes regarded as
exploratory research (Edgar and Manz, 2017).

Presentation of the data and findings
Q1 Do you posses a basic understand about the talent management aspect
in Marks and Spencer?
Frequency
a) Yes 35
b) No 5
35
5
a) Yes
b) No
 Interpretation: :It is interpreted from the above
presented graph that while it was question to 40
respondents about understanding the basic concept of
talent management in Marks and Spencer. 35
respondents had a positive view point while five others
replied in a negative answer.

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Interpretation: From the above mentioned graph it is
interpreted that when it was questioned to 40
respondents about effective talent management
strategies and its impact on competitive advantage for
Marks and Spencer. 34 respondents at a positive view
point and remaining six respondents replied in a
negative manner.
Q3 Do you feel that effective talent management strategies will assist marks and
Spencer for having a required competitive advantage in long run?
Frequency
a) Yes 34
b) No 6
34
6
a) Yes
b) No