Assessing Talent Management Strategies: Impact on Next Plc Success

This report investigates the effectiveness of talent management strategies for organizational success, focusing on Next Plc as a case study. It begins by defining talent management as an ongoing process of attracting, retaining, and developing skilled employees. The research aims to examine effective talent management strategies and their contribution to a company's success, specifically investigating their impact on Next Plc's performance and identifying issues arising from ineffective talent management. The methodology employs qualitative research methods, including literature review and data collection, to understand the concept of talent management, its contribution to business development, and the challenges faced by Next Plc. The findings and discussion sections analyze the collected data to provide recommendations and conclusions regarding the implementation and optimization of talent management strategies for organizational improvement. Desklib provides access to this and other solved assignments to aid students in their studies.

Research Project

Contents
TOPIC..............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Overview of Research..................................................................................................................1
Rationale of Research..................................................................................................................1
Research aim................................................................................................................................1
Research objectives.....................................................................................................................2
Research Questions......................................................................................................................2
LITERATURE REVIEW................................................................................................................2
The concept of Talent management.............................................................................................2
The contribution of talent management in development of business venture.............................2
The effectiveness of Talent management strategies in improving the performance of Next Plc 3
The issues faced by Next Plc due to ineffective Talent management.........................................3
RESEARCH METHODOLOGIES.................................................................................................4
Research Philosophies.................................................................................................................4
Research Approaches...................................................................................................................4
Research Strategies......................................................................................................................5
Research Choices.........................................................................................................................5
Data Collection............................................................................................................................5
PART 2............................................................................................................................................5
METHODOLOGY..........................................................................................................................5
Research methods and methodologies.........................................................................................5
Sources of data collection............................................................................................................6
Research Instrument....................................................................................................................7
Sampling......................................................................................................................................7
FINDINGS.......................................................................................................................................8
DISCUSSION................................................................................................................................13
RECOMMONDATION AND CONCLUSION............................................................................13
REFERENCES..............................................................................................................................15

TOPIC
To determine the effectiveness of talent management strategies for successful organisations.
INTRODUCTION
Overview of Research
Talent management is a continue and ongoing process which consist attraction and
retention of skilled and talented workforce, developing their abilities and continually motivating
them to improve their performance. The key objective of talent management is to make
encouraged workplace that will remain with the organisation in line term (Collings, Scullion and
Vaiman, 2015). Talent management assists employees feel involved and inspired as well as
permitting them to exertion in the way of the objectives and objectives that in turn, develops and
develops satisfaction of customers as well as business performance. For the achievement of this
research task, Next Plc is the establishment which is considered. This venture specialise in
clothing, accessories and others. This research assessment will discuss about the efficiency of
talent management strategies that can be used by an organisation for developing worker’s
effectiveness and success of the firm. Furthermore, it will define about literature review, research
methods and data collection tools which is used to collecting relevant data for the effective
completion of research project.
Rationale of Research
This report is based on Talent management strategies and their contribution in the success
of company. By organising this research, surveyor can aware with the conception of talent
management and effectiveness of its strategies in term of growth of venture. By organise this
research, knowledge base and core competencies of researcher will be developed and it ca
capable to execute the investigation activities in future (Thunnissen, 2016). Next plc is a British
clothing, footwear and home products retailer. In term of make development in the venture, the
management should focus on the talent management strategies.
Research aim
“To examine the effective strategies of talent management for the success of company. A
study on Next Plc.”
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Research objectives
 To understand the concept of Talent management.
 To examine the contribution of talent management in success of company.
 To investigate the effectiveness of talent management strategies in improving performance
of Next Plc.
 To determine the issues faced by Next Plc cause of ineffective talent management.
Research Questions
 What is the concept of Talent management?
 What is the contribution of talent management in development of business venture?
 What is the effectiveness of Talent management strategies in improving the performance of
Next Plc?
 What are the issues faced by Next Plc due to ineffective Talent management?
LITERATURE REVIEW
The concept of Talent management
As per the view of White S. (2019), Talent management can be described like a organized
process of analysing the different empty location within the business venture, staffing suitable
applicants for filling the empty seats and improving the key abilities and proficiency of the
applicants to competition the expected job situations, such as that applicants can be engaged in
the firm for a long time and at the same time the commerce aims are accomplished satisfactorily
(Sparrow and Makram, 2015). Different phases in the talent administration activity are executed
through an establishment that is acknowledged like the talent administration method. Basically,
talent management refers to the process of managing talent within a company which denotes to
the ability of overseeing the power and capability of workers in a firm either by direct and
circuitous approaches.
The contribution of talent management in development of business venture
Accordant to Writer S. (2018), Talent management make an effective contribution in the
development or success of firm in diverse manner. By getting attention of skilled workers, it
contributes in the progress of firm. As when the company has skilled workforce then they
performs the business activities in effective manner as well as assist in accomplishing the
business goals in set time frame (Krishnan and Scullion, 2017). This enables in improving the
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productivity as well as make success in its business. Along with this, talent management play an
effective role in encouraging workforce of the company so that they can feel motivated and
perform their assigned work and duties in effective manner by using their all efforts. The
contribution of talent management make the engagement of employees easier for the ventures to
find out that worker will be greatest suitable for the profession which can direct to less
presentation administration problems. It will undertake that the top ability within the firm
remains longer.
The effectiveness of Talent management strategies in improving the performance of Next Plc
As per the view of Tankersley J. (2016), in term of retaining best workers, organisations
consider effective strategies of talent management like hire skilled workers, training &
development and remuneration system etc. All these strategies of talent management are crucial
for developing the efficiency of respective firm (Khilji, Tarique and Schuler, 2015). Such as by
hiring skilled and knowledgeable applicant, the organisation can perform its business task in
effective and developed manner timely. Along with this, by offering training sessions to
employees, the management can offer information and updated them with the use of new
technologies as well as improve their abilities. This will assist them in performing their allotted
work in more developed form. Also, by rewarded to employees for their good performance can
motivate them and they do their work by using their all efforts which assist in enhancing the
execution of venture in amended form.
The issues faced by Next Plc due to ineffective Talent management
Accordant to Echelon T. (2020), Carrying out talent administration is not always simple.
There are several issues and challenges are faced by organisations due to ineffective talent
management. Talent supervision begins with filling an open place with a high player. Without
having a strong administration plan, an establishment might face issue with the respite of the
talent administration practice. Several times, commerce do not recognize where to begin with
hiring. These kinds of issues are faced by venture due to lack of information about new and
updated technologies like applicant tracking system, payroll and others. Due to ineffective talent
management, the issue of ineffective leadership arise within the firm and cause of which workers
would not have guidance in developing their talent (Taylor, 2018). Without not having effective
direct and support manpower cannot perform their duties in appropriate form and without sturdy
leaders, there would not be anyone to carry out talent administration.
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RESEARCH METHODOLOGIES
Methodology is careful consideration of research linked to particular concern utilising the
scientific methods. It is systematic investigation to describe, forecast and control observed
experience. It is utilised to collect information and data for the aim of making effective decision
related to business. It is systematic tool which should be followed by investigator for gleaning
the relevant information (King, 2015). In explaining methodology in brief form, there is
Research Onion considered and the description of it is as:
Research Philosophies
It is the primary layer of research onion which has do with set of values concerned with
character of the actuality which being observed. Several study philosophies are defined as under:
Positivism philosophy- It is supported to thought and idea that the scientific knowledge is
truce and segmented by hypotheses testing which forced from current knowledge conception.
Interpretivism philosophy- It highlights on the utilisation of qualitative research method
to acquire results. It is observed playing a required function in making the sense and also
understanding collected information.
This demonstrates research will be followed and considered the interpretivism philosophy
as it assists in determining the authors’ perceptions and provide optimistic results.
Research Approaches
It is supported to previously- made choices and offer the optimistic results, Inductive and
deductive are different research tools which are defined as under:
Inductive approach- It is essential and crucial when there is small research area. In this,
investigator moves in opposite direction for the description and observation of the analysis.
Deductive approach- It tends to flow from the general to detailed. Any surveyor utilise
this approach on research hypothesis which tested through gleaning of the information.
This research will be supported to inductive approach as it provides probability to
completing the work and gain effective understanding regarding the particular area of study in an
efficient and essential form (Bradley, 2016).
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Research Strategies
It is third layer of research onion which is linked with data collection for the organisation
of research. It considers experiment, case study, survey and many more. In this study, survey will
be considered as it enables in collecting more information and answer research questions.
Research Choices
This layer of research onion is connected with the quantitative and qualitative methods.
There is a requirement of choosing the efficient and appropriate method which provides better
results (McDonnell and et. al., 2017). The qualitative method will be considered as it offers the
rich data through considering explanation and opinions.
Data Collection
It is connected to assembling data through utilisation of the relevant and authentic source
in an efficient form. These are primary and secondary method of information gathering that
enables in offering reliable data in context of specific area. In this research, primary method of
data collection is more efficient as it offer the first hand and pure data so that optimistic results
can be concluded.
PART 2
METHODOLOGY
Research methods and methodologies
There are several methods that are able to support research in term of assembling required
data. The key two research methods which can be accept and utilise by individual regarding
gleaning data with the motive of completion of this research. The description of them as below:
Qualitative Research- It is a study technique of collecting information but it is in form of
hypothetical that is developing and convalescing the acknowledgment of opinion of diverse
participants. Information collected with the assistance of and deemed the individual’s
observations and opinion. This method consider different tools like interviews, observations,
group discussion and others as well as with this system questions are in context of open ruined
and are formulated but moderately (Gallardo-Gallardo, Thunnissen and Scullion, 2020). This
study method is also phrase as sexamining research as it supports to a researcher in getting and
gaining detailed and deep information regarding specific subject and aid them to develop an
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efficient project in appropriate manner. Regarding this research method, the investigator utilises
of qualitative method that enables them to collect brief data regarding particular topic and
encourage them to provide relevant determination for further analysis.
Quantitative Research- It is a methodical study system of collecting data which is on
statistical variety and is connected with numerical for of information. This kind of research is
used when there is elevated inhabitants’ size. Within this technique, there are numeral of tools
included such as online surveys, sampling methods, cross sectional research, correlation, online
polls and others. It also considers a variety of difficulty which are close ended and highly
structured in a form that enable in collecting data in structured form (Collings, Scullion and
Caligiuri, 2018). This method of investigate is related with the origin within data are available in
form of graph, statistical, chart and others. Furthermore, in context of qualitative method, it
selects a amount of individual for study that provides them great scope. Also, it includes diverse
forms of data gleaning such as probability sampling, document review and many more for the
completion of the assignment and employment in provided time period.
In this current project, the researcher is utilising qualitative research method with the
purpose of gathering information as well as results can be developed which are supported to
people opinions and perceptions. The key purpose behind the selection of this qualitative method
is that it supports surveyor in performing an in depth analysis of the data through use of a
theoretical form. It is most beneficial in having summarisation that can be represented in more
developed manner.
Sources of data collection
Primary data collection method– This sort of data gathering tools is considered as
effective style of collecting data (Sparrow, Hird and Cooper, 2015). In it, researcher will be able
to glean fresh and pure content or information with the assistance of utilising different tools of
information gleaning such as survey, interviews, observations and experiments etc. This method
of data collection is important because it provide pure and fresh data but it acquire more time and
price that occur because the major limitation and drawback of it.
Secondary data collection method– This resource of information gathering is beneficial
regarding data in less time period. This method will lead to collect more reliable and efficient
information regarding the topic of investigation. There are numerous tools such as journals,
magazines, articles, online sites, newspaper, books and commerce documents etc. that enable in
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gleaning data that is available in marketplace. Regarding investigation assessment, the surveyor
is using dissimilar articles, scholars, magazines and others for collecting the matter connected to
information to carry effective content for other engagement among marketplace.
Research Instrument
Questionnaire- It signified as a document that considers a range of question in a
methodical form. It is a set of questions that are designed by the researcher according to research
topic in context of collecting needed information with the purpose of meeting research objectives
in appropriate form (van Zyl, Mathafena and Ras, 2017). In this current research project, the
person is using questionnaire as a method of data gleaning because it is significant for making
determination of several objective which have to be analysed through researcher.
Sampling
It refers to a instrument in which the samples that are selected from the whole inhabitants.
It can also be described as a set of individuals, substances and objects that are engaged from a
large people for assessment. The sample should be delegate of the populace to make sure that the
researcher simplifies the findings and outcomes from the study sample to the inhabitants as a
total. The total population in present investigation is the workers who are executing in Next Plc.
In order to make sure that data is not obstructed in any form a random selection carried out from
the sample size (Collings, Mellahi and Cascio, 2017). There are a total of 50 respondents taken
in to consideration for collecting information regarding research subject.
Questionnaire
Q1. Do you aware with the conception of Talent management?
(a) Yes
(b) No
Q2. What is the contribution of talent management in development of business venture?
(a) Hiring and retaining skilled workforce
(b) Encouraging manpower
Q3. What is the effectiveness of Talent management strategies in improving the
performance of Next Plc?
(a) Attract top talent
(b) Success of organisation
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Q4. What are the issues faced by Next Plc due to ineffective Talent management?
(a) Increase employee turnover
(b) Lack o leadership
(c) Unappealing company culture
Q5. What are the strategies that considered by the management of Next Plc in context of
talent management?
(a) Reward and remuneration
(b) Training & development
(c) Person organisation fit
Q6. Do you support the fact that effective talent management have some optimistic impact
on the business activities of Next Plc?
(a) Agree
(b) Disagree
Q7. What do you think that the management of Next Plc should consider talent
management strategies for success of venture?
(a) Yes
(b) No
Q8. Provide the suggestions to deal with the issues which faced by company due to
ineffective Talent management.
FINDINGS
Theme 1: Conception of Talent management
Q1. Do you aware with the conception of Talent management? Frequency
(a)Yes 26
(b)No 24
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Interpretation- This has been done from the mentioned graph that among the population of 50
employees, 26 are viewed that they have information about the conception of talent
administration and well aware about it. While remaining 24 individuals are responded that they
are not familiar with the concept of Talent administration.
Theme 2: Contribution of talent management in development of business venture
Q2. What is the contribution of talent management in
development of business venture?
Frequency
(a) Hiring and retaining skilled workforce 27
(b) Encouraging manpower 23
Interpretation- It has been summarised from this visual presentation that between the
population of 50 individuals, 27 are replied that talent management make contribution in the
growth of the company through hire and retain talented employees so that they can assist the firm
in performing its business activities in developed manner. Whereas remaining 23 individuals are
agreed with Encouraging manpower is the effective way through which Talent management
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contribute in development of business firm. As when people of the company will be motivating
then, they support the firm in attaining its set objectives in developed manner.
Theme 3: Effectiveness of Talent management strategies
Q3. What is the effectiveness of Talent management strategies
in improving the performance of Next Plc?
Frequency
(a) Attract top talent 21
(b) Success of organisation 29
Interpretation- From the defined graph, it has been determined that among the group of 30
workers, 21 people are supported to attract top talent is the effectiveness of talent management
strategies in developing the execution of the respective firm. While enduring 29 individuals are
replied that success of company is main efficiency of talent management plan of actions which
assist in developing the performance of Next plc in amended manner.
Theme 4: Issues faced by company due to ineffective Talent management
Q4. What are the issues faced by Next Plc due to ineffective
Talent management?
Frequency
(a) Increase employee turnover 16
(b) Lack of leadership 14
(c) Unappealing company culture 20
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