Effective Talent Management Strategies in the Service Industry Report

This report provides an in-depth analysis of talent management strategies within the service industry, specifically focusing on Costsaver, a UK-based travel and tourism organization. The report outlines the aims and objectives of the project, detailing the research methodology, including both qualitative and quantitative methods such as questionnaires and interviews. It examines Costsaver's talent management strategies, such as team development, and assesses their effectiveness through primary research findings. The analysis of the data reveals employee perceptions of these strategies, highlighting their impact on motivation and satisfaction. Recommendations are provided to improve existing strategies and attract candidates. The report also includes a project management overview, covering planning, execution, and performance review. The conclusion emphasizes the significance of talent management in employee retention, motivation, and achieving organizational goals. The appendix includes the questionnaire used in the research, and a comprehensive list of references supports the report's findings.

TALENT MANAGEMENT IN
THE SERVICE INDUSTRY

TABLE OF CONTENTS
• Introduction
• Main body
• Conclusion
• References

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.

COMPANY OVERVIEW
• Costsaver is basically the travel and tourism
organization based in U.K. and provides the
range of services to the customers.
• It services ranges from flight booking and tour
package to hotel booking and has its
headquarter in UK.
• It has its presence in only few locations and is
the local business that operates on small scale.

PROJECT PLANNING
• 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.

CONTINUED
• 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
questionnaire
3 days 09/01/2020 11/01/2020
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

PROJECT EXECUTION
• 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.

CONTINUED
•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.

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.

ORGANIZATION'S STRATEGIES OF TALENT
MANAGEMENT
1 Does the organization have the
particular strategies of talent
management?
frequency
Yes 15
No 5
Total 20

ORGANIZATION'S PRIORITY FOR TALENT
MANAGEMENT STRATEGIES
2 Are the strategies of talent
management a priority within your
organization?
frequency
Yes 13
No 7
Total 20

EFFECTIVENESS OF STRATEGIES
3 Are the talent management strategies
are effective enough?
frequency
Yes 12
No 5
Not sure 3
Total 20

ALIGNMENT OF STRATEGIES TO
EMPLOYEE’S INTEREST
4 Does these strategies align the
interest of employees with mission of
organization?
frequency
Yes 15
No 5
Total 20

IMPROVEMENT OF STRATEGIES
5 Does the organization needs to
improve its talent management
strategies?
Frequency
Yes 8
No 12
Total 20

CONTINUED
• 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.

PERFORMANCE REVIEW
• The whole project of the talent management was high effective
as well as useful for the entire organization.
• The major outcome which can be drawn form this project is that
talent management is one of the most effective tool which helps
the organization to enhance their diverse workforce as well as
assist them to retain the large number of skilled and competent
employees.
• The study which was carried out for this project proved to be
highly useful for the local business and helped them to
understand the importance of various strategies which they can
use for attracting the employees and for aligning their individual
goals with the company goals.

CONTINUED
• The overall process of the project management which is planning,
initiation, execution etc. is highly useful for attaining the desired
goals as well as objectives.
• The steps which are being taken in the process helps the organization
to effectively carry out research project and plan each and every
aspect that at the end helps in achieving goals as well as objectives.
• The process of project management is highly effective for an
organization to operation in ethical and sustainable manner. because
this helps to understand the motivational factors of customers as well
as employees as well as their perception towards different attributes,
organizations are able to devise various strategies which will
eventually help in conducting the operations in sustainable manner.

CONCLUSION
• It has been summarized that talent management strategies plays an important role within an
organization to retain the employees along with motivating and also help to attract the right kind
of candidates which will help to achieve the organizational goals and objective.
• In order to know that whether the strategies being used by organizations are actually effective or
not, research needs to be carried out which helps in collecting the authentic data as well as helps
to understand that whether the employees are satisfied with the strategies or not.
• There are wide range of methods which are being used in research like primary and secondary
method for data collection. the whole process helps to understand the perception of employees
and their motivational factors.

APPENDIX
•QUESTIONNAIRE
•1 DOES THE ORGANIZATION HAVE THE PARTICULAR STRATEGIES OF TALENT MANAGEMENT?
YES
NO
•2 ARE THE STRATEGIES OF TALENT MANAGEMENT A PRIORITY WITHIN YOUR ORGANIZATION?
YES
NO
•3 ARE THE TALENT MANAGEMENT STRATEGIES ARE EFFECTIVE ENOUGH?
YES
NO
NOT SURE
•4 DOES THESE STRATEGIES ALIGN THE INTEREST OF EMPLOYEES WITH MISSION OF ORGANIZATION?
YES
NO
•5 DOES THE ORGANIZATION NEEDS TO IMPROVE ITS TALENT MANAGEMENT STRATEGIES?
YES
NO

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