Costsaver Service Industry: Talent Management Strategies Analysis

This report delves into the realm of talent management within the service industry, specifically examining the strategies employed by Costsaver. The report outlines the aims and objectives of the project, detailing the project management plan, including scope, risk assessment, and resource allocation. It presents a work breakdown structure and Gantt chart for project execution. The research methodology encompasses both primary and secondary data collection methods, including qualitative interviews and quantitative questionnaires. The findings reveal that Costsaver utilizes strategies such as team development, motivation, and appreciation. The analysis of data indicates that most employees perceive these strategies as effective in retaining and motivating them, although some employees feel that favoritism exists. The report concludes with recommendations for improvement, such as enhancing reward systems and exploring alternative recruitment techniques. The project's overall effectiveness and impact on the organization are also assessed, highlighting the importance of aligning employee goals with company objectives and the ethical and sustainable nature of project management processes.

TALENT MANAGEMENT
IN THE SERVICE
INDUSTRY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Activity 1.........................................................................................................................................3
Activity 2.........................................................................................................................................5
Activity 3.........................................................................................................................................6
Activity 4.......................................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Talent management is basically the process and method through which organisation are
able to recognise as well as develop the talented people for the purpose of achieving
organizational goals.
This report gives a brief about aims and objectives of project, project management plan,
breakdown structure and Gantt chart, research methodology, analysis of research data,
recommendation and personal reflection.
MAIN BODY
Activity 1
Aims and objectives
The major aim of this conducting this project is to understand the various strategies of
talent management which Costsaver utilizes for effective retaining their employees and for
attracting the competent candidates. Besides this, the primary objectives of this study are
To understand the strategies of talent management being used by the company
To know the perception and views of the employees of Costsaver on the specific strategies.
To use various research methods for analysing the results of findings
to assess whether the various talent management strategies used are useful for the business or
not.
Project management plan
Scope
This project will be applied to all the employees as well as staff and thus will be
applicable to the entire organization.
Risk
The major risk associated with the project is the authenticity and reliability of data. The
most effective method for reducing this risk is engaging each and every employee in the research
methods and collect the information from reliable source.
Duration
The project will cover a span of 3 months. For ensuring the quality of project, a review
and audit would be conducted and the whole project will comply to all the project standards and
practices.
Cost

Particulars Amount (In Pounds)
Furniture 50000
Support desk 30000
Research essentials 40000
Total 120000
Resources
The most important resource which will be required for the project is the fund that will be
gathered from the shareholders and clients. Other resources that will be required are equipments
like voice recorder etc. Besides this, the employees are the biggest resource wherein their
contribution is imperative.
Work breakdown structure
Gantts chart
Task name Duration Start Finish
Identifying research
topic
2 days 01/01/2020 02/01/2020
Drafting
methodologies
4 days 03/01/2020 06/01/2020
Designing 3 days 09/01/2020 11/01/2020

questionnaire
Collection of
information
6 days 12/01/2020 17/01/2020
Analysis and
interpretation
4 days 18/01/2020 21/01/2020
Conclusion 2 days 25/01/2020 26/01/2020
Methods in material resourcing
The most effective method for the data collection which would be used during project are
primary as well as secondary methods to ensure the reliability as well as authenticity of the data.
Besides this, both qualitative and quantitative methods would be used in which under qualitative,
one-to-one interview will be used and under quantitative, survey research will be used for
carrying out the project. For the purpose of material sourcing, primary as well as secondary
sourcing methods will be used in which the material as well as resources for the research will be
collected.
Activity 2
Talent management strategies
The secondary research which was carried out showed that the most effective strategies
of the talent management which is being used in Costsaver are
Developing team
The employees of Costsaver are highly involved in performing their activities within
team and thus have a great team sense. Through working in the team, employees are able to
between understand the various problems as well as issues and hence understand the different
view points of different people.
Motivating and appreciation
This is the well-through strategy which Costsaver employs for retaining their competent
employees and for attracting the best employees to the organization. When company appreciate
the great work of their employees through offering rewards, recognition etc. then it eventually
increases the motivation level of employees and thus they tend to stay in organization. This

ability of appreciation also attracts the talented candidates to the organization and thus increases
diverse workforce.
Primary research
There were two methods that were used for the purpose of this study that is qualitative
methods. This is basically the method through which the data and information is being gathered
via open-ended as well as conversational communication. Quantitative method on the other hand
is the method through which the quantitative data is being gathered and various mathematics
techniques are being applied for its evaluation. Within the qualitative method, one-on-one
interview method was used in which the employees of the organization were encountered with
the personal interview to rate their satisfaction level about the talent management strategies
being used by Costsaver. Within the qualitative research, the questionnaire method was being
used under which the all the employees were asked to complete the series of questions about how
effective the talent management strategies in Costsaver are and whether they are satisfied or not
with these strategies.
Reliability of research method
To carry out this study, the organization mainly used two methods qualitative as well as
quantitative methods. Within qualitative method, most important method which is considered as
reliable is One-to-one interview where each and every employee of Costsaver were interviewed
regrading the talent management strategies. The biggest advantage of this method is that it
provides a good opportunity for collecting precise information about the perception of people as
well as what are their motivation factors. For the quantitative method, one of the most effective
method which was used by Costsaver is questionnaire where the employees were asked to
complete the given set of questions. The biggest advantage of this method is that it generally
incurs less cost as compared to other methods and helps to gather the most reliable information
which is highly authentic and valid.
Activity 3
Project findings
Analysis
The questionnaire and one-to-one interview which was being conducted in the study
shows that among 20 respondents, around 15 employees believes that the talent management
strategies which are being used by Costsaver are highly effective and eventually helps to

motivate them at the great level. Nearly 5 employees believes that the strategies are somewhat
effective and mostly are not favourable to their individuals goals and objectives. The rest
employees strongly disagree that they are not at all satisfied with the talent management
strategies which are being used by Costsaver and thus the main reason behind this is the
favouritism.
Conclusion
It has been concluded from the research study that employees are very much happy with
the strategies which Costsaver uses to retain and motivate their employees. Most of the
employees believe that the most one which team work helps them to understand the viewpoints
of their team members and also help to solve the complex issues which occurs at the work place.
Although, besides these employees, some employees feel that the organization sometimes shows
favouritism while appreciating the work of their employees and thus does not give fair chance to
all employees to showcase their talent. Most of the managers which are placed at middle level
often feels that the company contributes to a great extent for helping their employees to succeed
in future and thus is constantly engaged in motivating their employees.
1 Does the organization have the particular strategies of talent
management?
frequency
Yes 15
No 5
Total 20

Interpretation
From the above graph it has been interpreted that out of 20 employees, 15 thinks that
costssaver have defined and well-structured strategies of talent management while 5 assume that
company does not have well-through strategy.
2 Are the strategies of talent management a priority within your
organization?
frequency
Yes 13
No 7
Total 20
Yes No
0
2
4
6
8
10
12
14
16
frequency

Interpretation
it has been interpreted from the above graph that nearly 13 employees believes that the
strategies that are being used in costsaver are the priority for them while 7 employees think that
company does not focus on talent management strategies.
3 Are the talent management strategies are effective enough? frequency
Yes 12
No 5
Not sure 3
Total 20
Yes No
0
2
4
6
8
10
12
14
frequency

Interpretation
It has been interpreted that 12 employees think that the talent management strategies are
effective enough to motivate them while 5 employees think that they are not effective. 3
employees are still unsure for the answer.
4 Does these strategies align the interest of employees with
mission of organization?
frequency
Yes 15
No 5
Total 20
Yes No Not sure
0
2
4
6
8
10
12
14
frequency

Interpretation
It has been interpreted from the above graph that around 15 employees think that the
strategies of talent management perfectly align with their individual interest while 5 employees
disagree on this statement.
5 Does the organization needs to improve its talent
management strategies?
Frequency
Yes 12
No 8
Total 20
Yes No
0
2
4
6
8
10
12
14
16
frequency

Interpretation
It has been interpreted from the above graph that out of 20 employees, 12 personnels
think that Costsaver needs to improve their talent management strategies while rest 8 employees
think that the strategies are
Recommendation
In order to make these strategies effective and increasing the satisfaction level of
employees, organization should continuously make improvement in the existing strategy which
they are using for retaining the employees and for developing the talent within their company.
For example- for improving the motivation and appreciation strategy, company should every
week review the performance of its employees and thus should provide the appropriate rewards
even small to all the employees for their performance and work. Besides this, company should
also look for other different strategies which will help them to attract more and more candidates
towards the company. Like the HR department should step outside of the traditional approach for
selecting candidates and make use of the other techniques like employee referrals. This will help
them to filter out the incompetent candidates and select the most experienced ones.
The research techniques which are being used in this research method that is
questionnaire as well as one to one interview are highly reliable source for collecting the
Yes No
0
2
4
6
8
10
12
14
Frequency