Talent Management Strategies in Business: A Project on Palletline

This project report delves into the critical role of talent management strategies in attracting and retaining a skilled workforce, focusing on Palletline London Ltd as a case study. It outlines the aims, objectives, and research questions guiding the investigation, emphasizing the importance of talent management in enhancing employee performance and organizational sustainability. The project management plan encompasses scope, cost, time, resources, quality, communication, and risk assessment, utilizing tools like Gantt charts and WBS to ensure efficient execution. Research methodologies, including positivism, quantitative research, deductive approach, and survey strategy, are employed to gather and analyze data. Ethical considerations are prioritized throughout the research process. The secondary research explores the importance of talent management strategies, examining specific practices implemented by Palletline London Ltd and their impact on workforce performance, drawing insights from various academic sources. Desklib offers a platform to access similar projects and study resources.

Managing a successful
business project
(talent management)

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Part A- Project planning..............................................................................................................1
Part B- Conducting research.......................................................................................................5
TASK 2............................................................................................................................................9
Present findings...........................................................................................................................9
TASK 3..........................................................................................................................................14
Reflective Practice....................................................................................................................14
CONCLUSION .............................................................................................................................15
RECOMMENDATION.................................................................................................................15
REFERENCES..............................................................................................................................17
APPENDIX....................................................................................................................................18

INTRODUCTION
The main purpose of conducting this study is to examine importance of talent
management strategies within the organisation. Talent management is very crucial term within
an enterprise because it attracts or retain employees for longer period of time. As employees are
crucial asset of business venture because they attain targets for company benefits and
sustainability. This procedure helps to every type of organisation because it support in
developing employee performance so that they would retain at workplace for longer period of
time (Cascio and Aguinis, 2018). Talent management facilitates organisation to maintain
employees who exist at workplace and attract new ones. In talent management, several strategies
are developed so that workers could retained for longer time period. In this report, talent
management is discussed along with strategies that used to encourage, motivate staff members of
company. To complete this project Palletline London Ltd is undertaken that work for support the
transportation industry. In this organisation around 69 employees are working. It involves 10
companies within Palletline London Ltd corporate family.
TASK 1
Part A- Project planning
Aims
“To analyse the importance of talent management strategies to attract or retain workforce
within an organisation.” A study on Palletline London Ltd.
Objectives
 To evaluate the importance of talent management strategies within an organisation
 To examine several talent management strategies used by Palletline London Ltd to attract
or retain talented workforce.
 To evaluate the impact of implementing talent management practices on performance of
workforce of Palletline London Ltd.
Research Questions
 What are the importance of talent management strategies within an organisation?
 Explain several talent management strategies used by Palletline London Ltd to attract or
retain talented workforce?
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 What is the impact of implementing talent management practices on performance of
workforce of Palletline London Ltd.?
Project management plan
Project management plan termed as those plan that assist researcher to plan the different
phases of project in appropriate manner. This helps to identify several resources and activities
that is used to achieve the objectives in easy and convenient manner. Several components are
presented in this report that are useful to complete the study on time frame and in appropriate
manner.
 Scope- This aspect helps to define the concept of talent management in elaborative
manner (Gupta, 2019). The main scope of the current research project is to examine the
importance of talent management strategies within organisation in a systematic way. To
complete this project researcher emphasis on format that includes importance and types
of talent management strategies which are used by researchers to attract or retain the
workforce. Hence, this project also involves several kinds of methodologies which are
used to carry out information in proper manner so that goals are attained.
 Cost- It express the amount that is required to carry out activities and task. The total
amount to complete this research project is £300. It involves the analysis of company
while executing project plan so that aims and objectives are attained. For this particular
project, the decided cost reflects in practical manner below:
Activity Total (£).
Project management plan 50
Change of location and
refreshment
60
Primary data 90
Miscellaneous expenses 100
Total 300
 Time- To attain the particular research aims and objectives in an appropriate manner time
is an important element. Researcher need to emphasis on time to complete each and every
activity so that proper analysis is to be done (Harsch and Festing, 2020). To complete
study on talent management, investigator required 9 weeks in this time frame they
complete the aims and objectives in proficient manner.
 Resources- It is an crucial element to reach the objectives. Within this report several
resources are needed such as financial, technical, human resources etc. The inclusion of
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these resources are helpful to attain objectives in proper way because due to this every
task is completed effectively. In this MS Excel is also used to develop spreadsheets,
tables for attaining the aim based on analysing importance of talent management
strategies to attract or retain talent.
 Quality- The practice of quality management is essential because it mainly based on
gather the data of great quality. It involves variety of practices so that appropriate
outcomes could be achieved (Vaiman and et. al., 2018). The quality management is
completed with a support of secondary and primary sources. Primary sources are high in
quality because in this researcher approach right respondent in an effective manner.
Secondary sources are also facilitates to collection of data by using Books, journals,
newspaper articles etc. as it assist in collect appropriate data of great quality so that aim
and objectives could be reached.
 Communication- Communication is a process that is used to share information to right
person at right time. It involves several channels that are used to convey the outcomes
correct people on right time. In this particular research, researcher used e-mails to deliver
or share information to members so that aim and objectives of research is attained.
 Risk Associated- There are number of risks which are included while collecting
information from selected participants or after the process of information gathered. In this
theft could be regarded as major risk. In this gathered information is to be stolen due to
which researcher study is failed. Hence to overcome with this issue researcher give full
time to develop strategy so that data could be gathered in effective and efficient manner.
Gantt Chart
Gantt chart refers to a type of bar chart that demonstrate the project schedule. This char
describe the list of task to be performed in vertical axis and time on horizontal axis. Here, the
horizontal graph express time duration of every activity that help researcher to complete the
project effectively and appropriately (Meyers, 2020). By using this chart, researcher complete
the each and every task as per project management plan due to which information regarding
talent management could be gathered properly and effectively.
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WBS
The work breakdown structure elaborates an understanding related to complete the
project in authentic and reliable manner. It divides large task into smaller ones so that activities
could be attained on time and in reliable manner. WBS structure helps to attain each and every
task in proper time frame because it believed that smaller activities are easily to attain. Further
the WBS chart is presented below in context of Palletline London, Ltd. :
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Part B- Conducting research
Research methodology
Research methodology defined as a process that assist researcher to collect and gather
information in appropriate manner. Hence, several research methodologies are used within this
research project that are presented below:
 Research philosophy- It refers to that type of methodology that is used to measure the
gathered data (Kumar, 2018). There are two types of philosophies such as intepretivism
and positivism. In particular research study, investigator adopts positivism research
philosophy because it measures data in numeric manner. However, interpretivism is not
chosen by investigator because it present information in non-numeric manner that does
not express information in proper manner.
 Research choice- This facilitates the accumulation of information in proper manner. It is
mainly divided into two kinds such as quantitative and qualitative research. Investigator
chose quantitative research choice because they believed that numeric data is highly
reliable and valid in nature and also information could be gathered in short time frame.
Due to this objectives are attained easily. Qualitative research is not chosen because in
this information is gathered in non-statistical manner and contain long process that
includes more time.
 Research Approach- It is described as a procedure that involves certain actions used to
attain objectives in proper manner (Novikov and Novikov, 2019). Research approach
mainly classified into two parts i.e. inductive and deductive approach. Hence, in current
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research project, investigator show dependence on deductive approach because it is
linked to measure information into numeric manner. This measures information in short
period of time and also useful to examine that objectives of particular research is attained
or not. Inductive approach is not chosen for this particular study because it evaluate
information in non-numeric manner that also take longer time.
 Research strategy- It is a process that is used to collect information. It has various types
of research strategy such as action research, survey, experimental research, case study
etc. Researcher adopts the use of survey strategy because it is concerned with collection
of primary information. Survey is one of the best strategy for this particular research
because in this information is collected on talent management directly from the selected
respondents. In this survey questionnaire is adopted in which close ended questions are
included.
 Sample technique- It refereed to that methodology that is based on select the certain
number of respondents from huge population. It is essential to select representatives from
the whole population (Daniel, Kumar and Omar, 2018). There are two methods of
samples collection i.e. probability sampling and non-probability sampling. To conduct
this report, researcher chosen probability method where they select respondents on
random basis. In this researcher does not select non-probability method because it creates
biased-Ness among respondents due to which information are not collected reliably. To
complete this project 20 respondents are taken out as sample from them information
regarding talent management used by SMEs are gathered.
 Data collection- It is described the process of collecting information using two types
such as secondary and primary. To conduct this research, investigator choose primary or
secondary method of data collection. In terms of primary sources, information are
gathered by taken out raw data from selected representatives using questionnaire. While
to collect information using secondary sources researcher taken out information from
already published data, books, articles etc.
 Ethical considerations- To conduct the research in appropriate manner investigator has
aimed out to carry task in ethical manner. For this they take consent form from selected
company before collect information on talent management (Coombes and Ryder, 2019).
As in this researcher emphasis on not harming the respondents mentally or physically.
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Secondary research
What are the importance of talent management strategies within an organisation?
As per the viewpoint of “(Momtazian. M., 2020)” talent management strategies are very
crucial for business organisation because it increase the value of employees due to which they
work effectively and efficiently for the growth of business enterprise. The strategies of talent
management such as offer incentives, bonus etc. that are crucial to improve performance of
business and attract or retain talented workforce at workplace. Talent strategies derives
innovation within organisation due to which objectives are easily attained that helps in staying
competitive in marketplace. However, it leads to strengthen the employer branding due to which
employees are sustain within company for longer time period and new candidates are attracted
towards the firm.
Explain several talent management strategies used by Palletline London Ltd to attract or
retain talented workforce?
According to the viewpoint of “(Malmstrom. H., 2021)” Palletline London Ltd adopts
number of strategies to attracts or retain talented workforce within firm that helps in attaining
productive results. Several strategies are presented below:
 Adopts employees training tools- It is best talent management strategy that Palletline
London Ltd follows to improve employee performance and productivity. Company invest
in training tools such as micro learning platforms, learning management systems etc. Track and measure performance- As a manager of a business enterprise it is essential
to set goals and for this they need to track and measure employees performance so that
weaknesses are removed and challenges are addressed properly. This helps Palletline
London to attract or retain employees for longer period of time.
What is the impact of implementing talent management practices on performance of
workforce of Palletline London Ltd.?
As per the viewpoint of “(Ansari. K., 2021)” In an organisation, employees are generally
motivated towards their work as they show their contribution to firm and what they are allotted.
It clearly understand that the practices of talent management within organisation support workers
and it reflects in their performance. Therefore the staff member are highly crucial of any
company because they find path of attaining profits of firm. In this Palltetline engage employees
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towards the allotted task by offer motivational opportunities that would help them in achieving
the targets proficiently.
Primary research
Frequency table
Q1) Are you aware about the talent management importance within an
organisation
Frequency
a) Yes 18
b) No 2
Q2) In your opinion, is Palletline London Ltd use talent management
practices appropriately or efficiently?
Frequency
a) Yes 10
b) No 5
c) Prefer not to say 5
Q3) According to you, what talent management strategies are effective to
attract or retain employees?
Frequency
a) Offer career development paths 7
b) Adopts employee training tools 4
c) Timely provide rewards and benefits 5
d) Retain best candidates 4
Q4) What talent management strategies adopted by Palletline London Ltd
to develop productivity and performance of workers?
Frequency
a) Understand power of job descriptions 4
b) Organise training sessions 6
c) offers leaves and other perks 6
d) Flexibility in working hours 4
Q5) In your opinion, what reason that make Palletline London Ltd to Frequency
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adopts the talent management process?
a) To develop new and existing personnel 9
b) To keep best employees 5
c) To encourage workers 6
Q6) According in your view, what you would suggest to Palletline London
Ltd in terms of talent management strategies?
Frequency
a) Establish goals and objectives 7
b) Track and measure performance 8
c) Standardize on-boarding process and talent review 5
TASK 2
Present findings
Q1) Are you aware about the talent management importance within an
organisation
Frequency
a) Yes 18
b) No 2
a) Yes b) No
0
2
4
6
8
10
12
14
16
18
18
2
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Interpretation: From the above graph it is interpreted that 18 representatives out of 20 are
aware about the importance of talent management in organisation whereas 2 respondents are not
aware about talent management.
Q2) In your opinion, is Palletline London Ltd use talent management
practices appropriately or efficiently?
Frequency
a) Yes 10
b) No 5
c) Prefer not to say 5
a) Yes b) No c) Prefer not to say
0
1
2
3
4
5
6
7
8
9
10
10
5 5
Interpretation: By above graph it is interpreted that 10 respondents said that Palletline London
Ltd adopts talent management practices appropriately whereas 5 representatives said company
does not used talent management strategies. In this last 5 respondents out of 20 prefer not to
anything about this.
Q3) According to you, what talent management strategies are effective to
attract or retain employees?
Frequency
a) Offer career development paths 7
b) Adopts employee training tools 4
c) Timely provide rewards and benefits 5
10