A Study on Talent Management Strategies: Marks and Spencer

This report examines talent management strategies within the retail sector, using Marks and Spencer as a case study. The project aims to evaluate various talent management approaches to attract and retain a competent workforce. The report includes a literature review of talent management practices, a project management plan detailing time, cost, quality, scope, risk, and resources, and a work breakdown structure with a Gantt chart. Research methods involve both primary data collection via questionnaires and secondary data analysis. The presentation of data and findings includes interpretations of survey responses. Recommendations are provided regarding career development and talent identification. The reflection section summarizes the research process, and the conclusion emphasizes the importance of talent management for workforce retention and cost management. References support the research findings.

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 is a basic concept that is associated with managing the overall
workforce in organisation. This practice helps in retaining of the talented workforce
for longer time duration which can assist in the process of managing the high
associated cost with employee turnover (Flick, 2018).

Project Aim and Objectives
 Aim: “To evaluate different types of talent management strategies that are adopted by retail sector
in order to retain & attract competent workforce.” A study on marks and Spencer.
 Objectives:
 To understand the basic talent management practises used in retail sector
 To identify various talent management strategies that is adopted by Marks and spacer in order to
retain & attract competent workforce.
 To analyse various issues faced by managers and leaders in implementation of talent management
strategies.

Literature Review
 Talent management practices used in retail sector
 According to SUSAN, (2019), Talent management is referred as method that can be used by
company for bringing appropriate talent onboard and retaining them significantly and effectively. In
addition to this, by the help of talent management prominent capabilities of staff members can be
highlighted because of which organizational objectives can be achieved within given time period.
There are various dimensions of talent management such as career development, learning,
motivation and many more.

Project Management Plan
 Time: It is defined as one of the important aspect that is needed for accomplishing
objectives within stipulated time period
 Cost: It is referred as sum of total expenses that is going to be take place while
conducting the whole resource effectively and appropriately
 Quality: it is defined as a component in which appropriate quality is being rendered
through applying various perspectives
 Scope: It is related with the features and functions existed within investigation that is
helpful in achieving objectives of research.
 Risk: It is considered as one of the important aspect which is required to be undertaken
in order to implement activities without any delays

Continue…
 Resources: It is defined as an aspect that is helpful in completion of project within given
timeframe.
 From the above mentioned project management plan, it is determined that all the elements of
project management plan is important to be evaluated by a project manager so that the
objectives are attained timely. In addition to this, it is also helpful in development of
appropriate strategies in order to execute research activities and achieve research objectives in
a rightful manner.

Work Breakdown Structure and Gantt Chart
 It is basically a project application which is useful to systematic engineering. Along with this, work
breakdown structure is defined as an appropriate tool for carrying out the whole activities and operations
in a systematic and proper manner. The work breakdown structure of present study is given below

Continue…
It is defined as a tool which is used to set
the timeline for a specific project by
illustrating schedule of the overall project.
In addition to this, Gantt chart is
associated with several rows and columns
in which top row represents the time frame
of particular activities and the left side
reflects the project activities.

Research Methods
 Primary data: It is the first and information that is collected by investigator. In the present
report there is use of questionnaire as a primary collection data technique to analyse the talent
management strategies used by Marks and Spencer (Halperin and Heath, 2020).
 Secondary data: It secondary sources of information that are to be collected from available or
existing sources (Coolican, 2017).
 Quantitative methods: In this method of research data is collected and further expressed in
various charts and graphs (Ivanov and Dolgui, 2021).
 Qualitative methods: Qualitative method of research can also be regarded as exploratory
research method.

Presentation of the data and findings
Q1 Do you understand the practise of implementing talent management
practises in Marks and Spencer?
Frequency
a) Yes 35
b) No 5
35
5
a) Yes
b) No
 Interpretation: It is interpreted from the above
mentioned graph that when it was questioned to 40
respondents about the implementation of talent
management practices in Marks and Spencer. 35
respondents had a positive view point and other five
respondents replied in a negative manner.

Continue…
 Interpretation: From the above graph while it
was question to 40 respondents about the talent
management practices that can help in having a
desired competitive advantage for Marks and
Spencer. 34 respondents had a positive viewpoint
why 6 respondents had a negative view point.
Q3 Do you believe that talent management strategies will help marks and Spencer for
having a desired form of competitive advantage?
Frequency
a) Yes 34
b) No 6
34
6
a) Yes
b) No