Managing Talent: A Report on Tesco's Staff Retention Strategies

This report provides a comprehensive analysis of talent management and staff retention challenges faced by Tesco. It begins with an introduction to talent management, defining its importance and outlining the report's aims, objectives, research questions, and a project management plan. A thorough literature review explores the concept of talent management, the challenges Tesco encounters, and various staff retention strategies. The report incorporates primary and secondary research methodologies, including a work breakdown structure and Gantt chart, to gather and analyze data. The findings are then interpreted, leading to specific recommendations for Tesco to improve its talent management practices and enhance staff retention. Finally, a reflection on the research process and its implications is included, culminating in a conclusion that summarizes the key insights and recommendations.

Managing a Successful
Business Project
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CHAPTER 1....................................................................................................................................4
INTRODUCTION...........................................................................................................................4
P1 Aim and objectives............................................................................................................4
CHAPTER 2....................................................................................................................................5
Literature Review.............................................................................................................................5
Notion of talent management.................................................................................................5
Challenges of Talent management which is facing by TESCO.............................................6
Numerous strategies that TESCO can adopt to overcome the challenge of staff retention. . .7
P2 Project Management Plan..................................................................................................7
P3 WBS and Gantt chart........................................................................................................8
CHAPTER 3..................................................................................................................................10
P4 Carry out small-scale research applying primary and secondary methods appropriate for
meeting project aims and objectives.....................................................................................10
CHAPTER 4..................................................................................................................................13
P5 Data Interpretation.........................................................................................................13
CHAPTER 5..................................................................................................................................18
P6 Recommendations.........................................................................................................18
CHAPTER 6.................................................................................................................................20
P7 Reflection.......................................................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22
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CHAPTER 1
INTRODUCTION
Talent management is defined as a practice in which an organisation engages in the
operations of constantly attracting and retaining employees with the help of motivating
techniques. This practice enhances overall growth and development of an organisation in
respective industrial sector (Gallardo-Gallardo, Thunnissen and Scullion, 2020). Present report
has been conducted on Tesco which is conducting its business functioning in retail industry.
Company is having global reach and perform its business functions with number of employees.
In this report format of discussion has been conducted on the challenge of talent management
which is facing by organisation. In order to accomplish this research aims, objectives, research
questions and literature review is conducted. In addition to this project management plan, work
breakdown structure, Gantt chat, research methodology and data interpretation is included in this
report. Along with this recommendation is also been provided to company through which they
can overcome the challenge of talent management.
P1 Aim and objectives
Research Aim:
“To identify the challenge of staff retention facing by an organisation”. A case study of
TESCO.
Research Objectives:
 To determine the notion of talent management. To identify the challenges of Talent management which is facing by TESCO? To determine the concept of staff retention? To recognize numerous strategies that TESCO can adopt to overcome the challenge of
staff retention.
Research Questions:
 What is notion of talent management?
 What are the challenges of Talent management which is facing by TESCO?
 What is the concept of staff retention?
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 What are the numerous strategies that TESCO can adopt to overcome the challenge of
staff retention?
CHAPTER 2
Literature Review
Notion of talent management
According to the view point of Anlesinya and Amponsah-Tawiah, 2020 talent management
is a continuous process in which an organisation engaged in the activity of attracting and
retaining experienced, talented and skilled employees by motivating them and developing their
skill and performance. Main aim behind talent management is to develop a motivated workforce
through which organisational objectives and vision can be accomplished with higher efficiency.
In order to manage talent it is essential for an organisation to invest in employees as they are
major source of company higher profitability and productivity. It is essential for an organisation
to engage in a strategic process to get right talent on board and provide effective support and
help them to grow (McDonnell and Wiblen, 2020). With the help of talent management an entity
can significantly improve their business practices and can further assure higher competitive
advancements in the industry. In addition to this it has been identified that talent management
effectively enhances long-term sustainability of an organisation through which company can
assure more profitability and growth. There are mainly four pillars of talent management that are
recruitment, performance management, learning and development and retention. It is essential
for HR of an organisation to hire or recruit right employees for right jobs. With the help of best
strategy HR is required to attract skilled and experienced employees for workplace practices.
Once they get hired, it is essential for organisation to measure their performance with company
standards and provide them proper training and development courses through which their skill
gap can be fulfilled. Performance review can be effectively undertaken by an organisation with
the help of performance reviews strategies and communication. It is essential for an organisation
to undertake advantage of performance management strategies in order to measure performance
of employees according to organisation objectives. Learning and development is one of the most
important cycles for employee retention through which existing skills and performance level of
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employee can be accomplished. It is essential for an organisation to attract best talent, support
them and feel them engaged into company practices in order to motivate their performance
towards organisational goals and objectives.
Challenges of Talent management which is facing by TESCO
As per the view point of Wassell and Bouchard, 2020 talent management is one of the
most important aspects for organisations through which they can effectively retain and manage
performance and productivity of employees. Challenges of talent management may get arise due
to unappealing culture of company, lack of leadership, pressure upon employees and other
aspects. In addition to this ineffective communication between managers and employees is also
one of the most important reasons that arises challenges of talent management. It has been
identified that in retailing sector talent management issues or challenge mainly get experienced
by organisation if there is poor hiring strategy, ineffective leadership and employee turnover.
These challenges not only affect profitability of an organisation but also lower down its goodwill
in a market place. It is essential for an organisation to have effective form of leadership in order
to manage talent and provide effective guidance to employees. It has been identified that
employees are one of the most important aspect for an organisation that increase its profitability
and productivity in a well defined and effective manner. Thus, it is essential for organisation to
have best recruitment strategy, staff management plan in order to prevent high employee
turnover. It has been identified that Tesco is facing with the challenge of staff retention in which
some of their stores are facing high labour turnover due to many reasons such as ineffective
culture, lack of communication, lack of employee engagement and more.
Concept of staff retention
According to the view point of Clarke and Scurry, 2020 staff retention is mainly defined
as an ability of a company to retain employees for longer of time. Staff retention is one of the
most important measures for an organisation that allows company to accomplish its
organisational objectives with talented and skilled workers. There are mainly 5 key drivers of
employee retention through which an organisation can retain employees for longer period of
time. These drivers are flexibility, employee benefits, career development, good manager and
employee relationship and personalized employee experience. It is essential for an organisation
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to provide different types of benefits perks and job satisfaction to their employees in order to
retain them for maximum period of time. According to the research search it has identified that
employees leaves a company due to frustration and constant friction with their superiors and
other team members. In addition to this lack of morale, lack of motivation, low salary is also
some of the factors that make employees to leave the job. In this it is essential for company HR,
leaders and managers to undertake advantage of best strategies and policies to retain employees
for a longer period of time. Along with this management is also required to provide long-term
benefits, continuous progress and positive workplace culture to their workforce. In addition to
this it is also essential for the organisation to make sure that employees are not going through
with any issues which is affecting their moral and motivation.
Numerous strategies that TESCO can adopt to overcome the challenge of staff retention
According to the perception of Bhatia and Baruah, 2020 challenge of staff retention can be
overcome with the help of hiring right individuals, providing benefits and compensation to
employees, encourage gratitude and generosity among organisational workplace culture, provide
effective recognition and rewards to employees and engage employees in the decision making
and other important aspects of company. In addition to this it is also essential for Tesco to take
advantage of strategic actions and employee retention strategy in order to motivate their
workforce on continuous manner. It has been identified that employees have major contribution
in company business performance and productivity. Thus, with the help of providing number of
advancement opportunities to employee’s organisation can overcome the challenge of staff
retention. This will further help company to assure long term growth and competitive
advancement in respective industrial sector. It is essential for Tesco management to take use of
best retention strategy comparatively to other rivals in marketplace in order to provide effective
support and guidance to employees. In addition to this has been identified that company is also
required to provide proper training and development courses to employees in order to enhance
their skill knowledge and moral. It will help company to ensure long-term growth sustainability
and profitability in retail industrial sector.
P2 Project Management Plan
Project management is mainly defined as a document in which different types of elements
are included that are required to accomplish a project in effective manner. These elements are
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objectives, project goals, project timeline, budget and more. By considering all these elements
researcher can accomplish project with having a proper track upon all the activities:
Cost:- It is one of the most important factor that include overall cost to accomplish project
activities, in order to accomplish present report activities there is requirement of £60,000.
Scope:- It has been identified that present research is conducted on the challenge of talent
management which is staff retention which is having wide scope at if company overcome this
talent management challenge then they have a possibility for growth and development.
Quality:- It is the most important factor for a researcher. In term with present research all
activities of project are accomplished with high quality than it automatically increases its
effectiveness (Krishnan and et. al., 2020). In order to conduct present research activities
information and data is allocated from authenticated sources in order to enhance quality of
research.
Communication:- To accomplish present research objectives proper communication
techniques is being undertaken by researcher and necessary information will be provided to
stakeholders and other individuals who are connected to research through e-mail, telephone,
social media and more.
Risk: Risk can be in terms of number of factors. In context with present research risk can
be in terms of allocation of information and funds.
P3 WBS and Gantt chart
Work Break down structure:
Work break down structure is a framework through which activities of project can break
into smaller segment. These activities will further allow organisation or researcher to conduct
different aspects and functioning in a well defined and manageable manner. In addition to this it
has been identified that with the help of a work break down structure necessary step can be
undertaken to overcome the challenges with higher efficiency.
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Gantt chart:
It is the most important strategic through activities which is required to be conducted in a
project is put against respected time. With the help of his project goals and objectives can be
fulfilled in best time period. Further has been identified that with the help of Gantt chat workload
can be reduced by researcher as it allows managing activities in proper time manner. With this
instance of this graphical tool project can be done in more efficient manner.
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CHAPTER 3
P4 Carry out small-scale research applying primary and secondary methods appropriate for
meeting project aims and objectives
Primary research-
Primary research is defined as a research methodology in which researcher collect data
directly rather than depending on other sources. It is a source of data in which can undertake
information from interviews, online surveys, focus group, observation. With the help of this data
can be accumulated in an accurate manner. In addition to this it has been identified that primary
research method involved more time and it is quite expensive in which researcher is required to
invest whose amount.
Secondary research-
Secondary Data Collection method involves information and data which has been
acquired by researchers who already existing data (Leggat, Liang and Howard, 2020). However
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with the help of this overall effectiveness of research can be enhanced, as in this information’s
are acquired from the authenticated sources. In order to collect information from secondary
sources researcher can take advantage of review articles, journals, published academic papers,
historical records, statistical data bases, government document and more. It is time taken and
cheap source through which information can be acquired. However in this research can face
difficult to obtain information on the specific needs.
In order to accomplish present research objectives both primary and secondary source of
data collection is being undertaken by researcher.
Quantitative research-
Quantitative research is mainly defined as a process of collecting and evaluating
numerical data. This method of research analysis can be used by researcher in order to find
patterns and averages and make predictions. In this research can take use of observation,
interviews and surveys to identify the article and numerical information.
Qualitative research-
In order to identify and evaluate information from qualitative research collection and
evaluation is based upon non numerical data. Main aim behind this is to effectively understand
experience and opinions and evaluate in depth- insight of certain problem. With the help of this
research method viewpoint of other individual can be identified in an effective manner.
In order to conduct presently researcher undertake advantage of qualitative method for
which questionnaire been prepared.
Questionnaire :
In questionnaire different questions has been asked from certain number of respondents.
Main am behind this is to identify their viewpoint on certain topics as to accomplish research
project. In order to accomplish present research objective researcher elected 50 respondents.
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Questionnaire
Q1) Are you familiar with the concept of talent-management? Frequency
a) Yes 40
b) No 10
Q2) What are the challenges that of talent management that an
organisation can face?
Frequency
a) Employee engagement 10
b) Recruitment and selection 10
C) Staff retention 30
Q3) What is the most effective method to overcome staff retention? Frequency
a) Hire right people 15
b) Recognize and Reward 15
c) Pay attention to engagement 20
Q4) What are the benefits of talent management for an organisation? Frequency
a) Employee Development 20
b) Improved Employee Experience 10
c) Increase Employee and Manager Engagement 20
Q5) Do you think, staff retention helps in increasing organisational
productivity?
Frequency
a) Yes 40
b) No 10
Q6) What are the benefits that TESCO can gain by overcoming the
challenge of staff retention?
Frequency
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