Project Report: Evaluating Talent Management at Marks & Spencer

This report provides a comprehensive analysis of talent management strategies within Marks & Spencer, a prominent British multinational retailer. The project aims to determine the strategies used by retail firms to attract and retain employees, focusing on M&S as a case study. The report outlines the project's aims, objectives, and research questions, followed by a detailed project management plan covering costs, scope, time, quality, communication, risk, and resources. A work breakdown structure and Gantt chart are included to illustrate the project's timeframes and stages. The research employs both primary and secondary methods, including questionnaires administered to M&S staff. The findings are presented through frequency tables, analyzing responses related to talent management concepts, strategies, challenges, and principles. The data reveals insights into employee perspectives on talent management practices, challenges faced, and the impact of these strategies on the company's competitive advantage. The report concludes with an interpretation of the findings, highlighting the importance of talent management in fostering employee satisfaction and achieving business objectives.

Managing a Successful Business
Project

INTRODUCTION
Talent management is considered as the method through that businesses as well as firm recognise
and formulate competent individuals who may have optimistic affects on its business and
productivity. Moreover, it have not only become a main elements of human resource
management but also accountability of leaders and manager at whole level for managing talent
into enterprises. For tis report, the selected company is Marks & Spencer, it is well known Britis
multinational retailer and having headquaaters is in London, UK. It mainly sells clothing, home
products and food products. The topics that are going to be described in this report are aims and
objectives of project, propject management plan, time frame, primary and secondary methods.
Moreover, data findings and reflection are also discussed in this report.
TASK 1
P1: Devise project aims and objectives for a chosen scenario.
Project aim:
“To determine the strategies used by retail firm for attracting and retaining their
employee”. A case study on Marks & Spencer.
Project Objectives:
 To analyse the concept of talent management strategies within retail industry.
 To determine the various strategies of talent management applied in Marks & Spencer.
 To evaluate several challenges faces by retail firm in absence of talent management
startegies.
Project questions:
 What is the concept of talent management strategies within retail industry?
 What are the various strategies of talent management applied in Marks & Spencer?
 What are several challenges faces by retail firm in absence of talent management
startegies?
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P2: Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources.
Project management plan may be regarded as the formal documents which highlights how
project would be implemented as well as observed. Moreover, this also explained as the
approach which project team considers for delivering project scope. In addition to this, it may be
applied by all who are incorporated into project in order to communicates described information
which would be considers during projects. Additionally, project management plan is vital as this
assures that relevant desires are specified as well as incorporates time duration, project schedule
and cost and scope. The plan also assures that project objectives are associated with firm’s
strategic objectives. Several elements are explained below:
Costs: Respective elements is undertaken as the amount which is needed for performing the
research effectually. So, this is vital for investigator to have relevant amount so that investigation
is performed in successful way. Additionally, having effective amount of money may assists
project manager to make sure that this is used appropriately and efficienty. The cost for
respective investigation is around $100.
Scope: it is the extent of challenging the mission with the test chief working at Marks &
Spencer’s altogether that there might be an arrangement of required strategies for taking care of
the issues of abilities oversee measure inside the business. it can help inside the way of
improving normal by and large execution to control workers.
Time: Reseacher need to get mindful of a specific time span inside the errand. For the reason
delegated brilliance of this task scientist will need to choose out the time required this is a month
put together absolutely concerning which there might be also the allotment of time limit for each
interest that incorporates an arrangement of data, assessment of records so that endeavor can be
done on schedule.
Quality: For the rationale of ensuring better fine consequences of an undertaking it's far essential
to remember real resources of records for social occasion data. A scientist needs to apply systems
of excellent diagrams and top-notch all together that the examination work can measure up to the
laid pleasant necessities all together that there can be the utilization of legitimate benchmarking
for ensuring the exorbitant nature of the challenge.
Communication: While the task is attempted specialist needs to embrace a privileged verbal
trade to follow the improvement of the assignment, there are magnificent techniques that might
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be utilized for the explanation of imparting that comprises of video conferencing, messages,
telephonic conversations, and assessments.
Risk : The researcher needs to design different game exercises in this kind of way that different
dangers might be separated and managed time. It guarantees that it might aid pleasantly planned
of the whole of undertaking. It incorporates the improvement of work breakdown shape, Gantt
outline altogether that there might be a branch of sports exercises in little reasonable segments
with time limits. There is a portion of the specialized dangers that envelop wastage of time in the
personality of genuine resources, investigating the sources and dangers identified with want of
non-solid assets of insights.
Resources: There are a portion of the resources which is presumably necessary needed through
the specialist that comprises of sites, online to be had books, magazine articles and a lot of such
property there might be a prerequisite to finding such assets you got the resources for
establishment value range as with regards to exact necessities. it can moreover help in having
entire genuine assets for having fundamental realities inside the scourge of examination work.
P3: Produce a work breakdown structure and a Gantt Chart to provide timeframes and stages for
completion.
Work breakdown structure is a fundamental system that is required with the resource of the
expert to seclude the complete undertaking in more unobtrusive and potential pieces. it gave to
work with how activities may be done in the heading of studies. the overall plan of sports that
ought to be settled as dependable with explicit positions that are connected with each interest of
the examinations. other than this expert can successfully allot the aggregate of the sources as
consistent with a limit of social occasion individuals. The work breakdown shape may be major
to get the game activities in a charmingly arranged aggregate. It moreover ensures that open
interval of time is distributed standard with as by necessities of the endeavor.
Gantt graph is moreover a way that can be useful in the last little detail of the movement as
unsurprising with a genuine time limit. on this exercise are to be executed in a state of harmony
with the upward center point of the outline. As far as possible is assigned at the even rotate of the
diagram. in this present, it's far ensured that every relaxation action is dispensed similarly as
concerning specific time term best, the undertaking chief and examiner are running toward
productive of an aggregate of each interest of the assessments on time.
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TASK 2
P4: Carry out small-scale research applying primary and secondary methods appropriate for
meeting project aims and objectives.
Research is considered as the systematized method which is utilised which is adapted for
determining a problems and attain project aims and objectives. Additionally, this depends upon
evaluating several research methods which may prosvides research task.
Primary data: This is undertaken as the information which is accumulated through investigator
for intial period based upon particularresreahc needs. Moreover, it is the fresh data for particular
investigation, into recent research work primary method is utilised in order to reach to effective
conclusion. For this intent, the chosen targeted respondent segment are Marks & Spencer staff.
Secondary data: This incorporates existent kind of information. Within current research, there re
various information that are taken form secondary sources which are to be utilised based upon
research needs. Within this particular research, information analysis of performed from existent
sources that incorporates journal, articles and others. Also, the information have to be
quantitative research.
Qualitative method: This is undertaken as the method which have to be described as the kind of
information which is determinedd as exploratory research task. Within current research, there is
accumulation of information from such existent sources. Additionally, Within current research,
respective method is utilised through researcher for developing literature review through
accumulating data from those sources. So, through literature review there are further suggestion
as well aas conclusion which is drawn into research work courses.
Quantitative method: This is considered as the methods where there is accumulation of statistical
kind of data. In addition to this, within it, the information is gathered through asking questions
from staff who are working in Marks & Spencer. Moreover, this involves selection of 30
respondents through non- probability sampling were respondents are chosen randomly among
whole population set. For intent of accumulating information by formulation of questionnaire
that are discussed below:
Questionaires
1. Do have any idea about the concept of talent management strategies within retail
industry?
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a) Yes
b) No
2. What are the various strategies of talent management applied in Marks & Spencer?
a) Providing competitive advantage
b) Training and development
c) Facilitaating incentives and perks
3. What are several challenges faces by retail firm in absence of talent management
startegies?
a) Pessimistic mind set of staff
b) Existent staff dissatisfaction
4. What are the effective way which may assists Marks & Spencer while implementing
talent management strategies?
a) Development of employeegrievance council
b) Working towards staff satissfaction
c) Accumulating on time feeedbacks from staff
5. What are the various principles which may be adapted through company into
process of talent management process?
a) Effectual communication channel
b) Maximisation personnel involvement
6. Do you any idea about talent management strategies may aids Marks & Spencer in
attainment of competitive benefits?
a) Yes
b) No
7. Any suggestion.
TASK 3
P5: Present findings and data using appropriate tools and techniques.
Th accumulated data are represented through frequency table which are developed below:
1.Do have any idea about the concept of talent management strategies FREQUENCY
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within retail industry?
Yes 26
No 4
2.What are the various strategies of talent management applied in Marks
& Spencer?
FREQUENCY
Providing competitive advantage 4
Training and development 16
Facilitating incentives and perks 10
3.What are several challenges faces by retail firm in absence of talent
management startegies?
FREQUENCY
Pessimistic mind set of staff 21
Existent staff dissatisfaction 9
4.What are the effective way which may assists Marks & Spencer while
implementing talent management strategies?
FREQUENCY
Development of employee grievance council 20
Working towards staff satisfaction 5
Accumulating on time feedbacks from staff 5
5.What are the various principles which may be adapted through
company into process of talent management process?
FREQUENCY
Effectual communication channel 10
Maximisation personnel involvement 20
6. As per your viewpoint is talent management strategies may aids Marks
& Spencer in attainment of competitive benefits?
FREQUENCY
Yes 25
No 5
7.Any suggestion?
Interpretation
1.Do have any idea about the concept of talent management strategies
within retail industry?
FREQUENCY
Yes 26
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No 4
Interpretation: As per the above graph, it has been interpreted that talent management strategies
is vital as the method through that businesses as well as firm recognise and formulate competent
individuals who may have optimistic affects on its business and productivity. So, out of 30
respondents, 26 are responding towards yes and rest of them that is 4 are in favour of no.
2.What are the various strategies of talent management applied in Marks
& Spencer?
FREQUENCY
Providing competitive advantage 4
Training and development 16
Facilitating incentives and perks 10
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Interpretation: As per the above graaph, it has been interpreted that there are various talent
management strategies which are providing competitive benefits, training and development and
rendering incentives and perks and maany more. So,out of 30 respondents 16 are responding
towards training and delopment and 10 are in favour of facilitating incentives aand perks and rest
4 of them are saying providing competitive advantages.
3.What are several challenges faces by retail firm in absence of talent
management startegies?
FREQUENCY
Pessimistic mind set of staff 21
Existent staff dissatisfaction 9
Interpretation: As per the above graph, it haas been interpreted that there are severaal challenges
which are faced by retail firm in absence of talent management strategies such as pessimistic
mind set of staff, existent staff dissaatisfaction and many others. So, out of 30 respondent 21 are
responding towards pessimistic mind set of staff and rest 9 of them are in favour of existent staff
dissaatisfaction.in addition to this, as negative mind set reduced the morale as well as
productivity of employees.
4.What are the effective way which may assists Marks & Spencer while
implementing talent management strategies?
FREQUENCY
Development of employee grievance council 20
Working towards staff satisfaction 5
Accumulating on time feedbacks from staff 5
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Interpretation: As per the above graph, it has been interpretated that there are various effective
ways which may assists Marks & Spencer while implementing talent management strategies are
accumulating on time feedbacks from staff, development of employee grievance council,
working towards staff satisfaction. So, out of 30 respondents 20 are responding towards
development ofemployee grievance council, 5 are in favour of working towards staff satisfaction
as well as rest of them that is 5 are saying accumulating on time feeddabcks from staff.
5.What are the various principles which may be adapted through
company into process of talent management process?
FREQUENCY
Effectual communication channel 10
Maximisation personnel involvement 20
Interpretation: As per the above report, it has been interpretated that there are various principle
that may be adapted through company into process of taalent management process that are
effectualchannel fo communication, maaximisation of personnel involvement and many
others.so, out of 30 respondents, 20 are responding towards maximisation of personnel
involvement and rest 10 are in favour of effectual communication channels.
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6. As per your viewpoint is talent management strategies may aids Marks
& Spencer in attainment of competitive benefits?
FREQUENCY
Yes 25
No 5
Interpretation: As per the above report, it has been interpretated that it is veru essential for firm
to implement talent management strategies as this assists can assists Marks & Spencer in
attainment of competitive benefits. So, out of 30 respondents, 25 are responding towards yes and
rest 5 of them are in favour of no.
7.Any suggestion?
Interpretation: It has been interpreted that, respective company have to to adapt some effective
talent management strategies such as training and development as it helps them to enhnaace their
staff compencies and boost them to perform their task in much effective manner.
P6 Communicate appropriate recommendations as a result of research and data analysis to draw
valid and meaningful conclusions.
As per the above data analysis, it has been recommended to Marks & Spencer that:
 Respective company have to to adapt some effective talent management strategies such as
training and development as it helps them to enhnaace their staff compencies and boost them
to perform their task in much effective manner.
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 Furthermore, it as been also recommended that among various effective taaent management
strategies in respect of Marks & Spencer which are operating into retail industry. So, they
have to concentrates upon recuiting expertiseas well as therafter work for maximisation of
its abilities with assiatnce of skill development programmes.
 In addition to this, it has been also recommended that within Marks & Spencer, there is
needs of communication channels which are to be development among employers aas well
as staff in respect of continuous functioning of staff. For this intent, there are potential on
which their managers have to implement some informal channels for determining staff
grievances, problems, disputes among team members, issues and others. Additionally, this
have huge affects upon staff mind set that would be reflected into its future performance
skills.
TASK 4
P7: Reflect on the value of undertaking the project to meet stated objectives and own learning
and performance.
For intent of accomplishing research task I have utilised several data sources to accumulate
needed information. Moreover, there are essentially two data sources which have been utilised
into current research report that incorporates both primary as well as secondary sources of data.
Additionally, I has been utilising those sources for forming literature review as well as
questionnaires further within report. Also, I utilised my analytical and researching skills which
aids me accomplishment of research. But there were fewproblems which are lack of
communication skillswhich are aacted as barrier smoothly while performing project. Instead of
it, I had also faced several difficulties to managing my group members as there was various
issues in managing disputes into few circumstances. As there was not ineffective coordination
which was the part of overall team. Therefore, in future time period, I had to perform upon my
disputes as well as collabortivecompetencies that may aids to deal with such conflicts.
CONCLUSION
As per the above report, it has been concluded that talent management strategies
implementation is vital for company. As it is the method through that businesses as well as firm
recognise and formulate competent individuals who may have optimistic affects on its business
and productivity. In addition to this, project management plan is performed as it is vital as this
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assures that relevant desires are specified as well as incorporates time duration, project schedule
and cost and scope. The plan also assures that project objectives are associated with firm’s
strategic objectives. Additionally, research methodology is crucial as this assists in opting
effective researct methods such as qualitative and quantitative methods.
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