Effective Talent Strategies for Attracting and Retaining Employees

This report analyzes talent management strategies employed by organizations, with a specific focus on TESCO, to attract and retain employees. It begins by outlining the project's aims and objectives, including an examination of the basic concept of talent management and the challenges faced by TESCO in implementing these strategies. The research methodology incorporates both primary data, gathered through questionnaires administered to TESCO employees, and secondary data from existing literature. The findings are presented and analyzed, covering topics such as talent management's role within organizations, challenges in implementation, and specific strategies adopted by TESCO and Walmart. Recommendations are made to enhance TESCO's talent management practices, emphasizing employee focus, recognition programs, and competitive compensation. The report concludes by highlighting the importance of effective talent management in achieving organizational success and competitive advantage.

Managing a successful
business project

Table of Contents
TOPIC: What talent strategies do the best companies use to attract and retain people?.................3
INTRODUCTION...........................................................................................................................3
Project aims & objectives. ..............................................................................................................3
Research aim: .............................................................................................................................3
Research question: .....................................................................................................................3
Step 1: PROJECT PLANNING.......................................................................................................4
Project Management plan............................................................................................................4
Work breakdown structure and Gantt chart.....................................................................................5
Step 2: Primary and secondary research..........................................................................................7
Concept and role of talent management within an organisation.................................................9
Step 3: Present findings.................................................................................................................10
Step 4: Reflective practice.............................................................................................................19
Performance Review.................................................................................................................19
RECOMMENDATIONS...............................................................................................................20
Conclusion.....................................................................................................................................22
REFERENCES..............................................................................................................................23
APPENDIX I.................................................................................................................................25

TOPIC: What talent strategies do the best companies use to attract and
retain people?
INTRODUCTION
Talent-Management is a procedure that is used in organisation for the purpose of attracting,
retaining and further developing of talent at the organisation. Organisations can help use in talent
management can be very helpful in the process of maximization of the effort of employees. In
present report there is analysis of the basic concept of talent-management in the organisation
(Harsch and Festing, 2019). There is need to analyse the challenges that are to be dealt by
TESCO in the course of implementing various talent management strategies in the context of
organisation functioning. For this purpose there is application of various primary and secondary
methods that can assist in the course of reaching to relevant recommendations and conclusions.
Project aims & objectives.
Research aim:
“To analyse the talent management strategies used by organisations to attract and retain
employees”. A study on TESCO
Research objectives:
 To evaluate the basic concept of talent-management in organisations.
 To analyse various challenges that are faced by TESCO in the course of implementing
talent-management strategies in organisation,.
 To determine the various talent-management strategies that are adopted by TESCO for
attracting and retaining of employees
Research question:
 What is the basic concept of talent-management in organisations?
 What are various challenges that are faced by TESCO in the course of implementing
talent-management strategies in organisation?
 What can be various talent-management strategies that are adopted by TESCO for
attracting and retaining of employees?

Step 1: PROJECT PLANNING
Project Management plan
Project management plan is a formal document that includes vital information related with
activities, cots and other resources that are compulsorily required in the present research work.
Project management plan includes these factors that are mentioned below:
Scope: Implementing talent strategies can help a organisation in retaining of talented members
for a longer time duration (Biglari, Bahrololoum and Darooghe Arefi, 2018). It can assist in the
process of enhancing the profitability level. The scope of present research work is high as it will
help organisation in discovering the required talent-management strategies in TESCO.
Cost: It is one of the important factors that can assist researcher for setting the budget based on
which all activities will be executed. The allocated budget in present research report is $8000 in
which al the activities have to be executed and completed.
Time: It is one of the aspects of study that can assist in the course of the laid research objectives.
In present research report the allotted time frame for completing all the associated activities of
research includes 20 weeks.
Quality: This factor is reflecting the overall effectiveness and quality of the research work that is
collected by the researcher (Theys and Schultz, 2018). It is very important for the researcher to
collect information from reliable and valid sources to maintain certain quality standards of the
research.
Communication: This is a element that determines the tools and resources that will be adopted
for the purpose of communicating the data that is collected from the activities conducted in
course of research work. In present report there will be use of non verbal communication
methods for the purpose of communicating overall research outcomes.
Resources: For the purpose of present research work there are certain specific resources that are
required without which research cannot be properly executed and completed (Alferaih,, 2017). It
include financial resources, human resources, compute, books, stationery items, technological
resources that will help in achievement of the laid aims and objectives of the research.
Risk: There are certain types of risks that may affect the present course of research work that my
includes lack of communication, difficultly in resolving of conflicts arsing between various team

members, limited availability of finances. All this risks have to be anticipated in advance so that
proper risk mitigation measures can be set up to deal with its long term implications on the
research report (Cherian and Kamalanabhan, 2019).
Work breakdown structure and Gantt chart
Work Breakdown structure
it is defined as the project management tool that is used for dividing the whole work in smaller
activities as per requirements of study. It will help researcher in dividing the whole work in
manageable and effective activities as per the provided time frame (Werner, 2021). It include
listing of activities in a specific hierarchy that can help in completion of the research, the work
breakdown structure of present research is mentioned below:
Gantt chart
it is bar chart that illustrates that overall project schedule that will be followed by the researcher.
In this each activity is assigned specific time duration in which it has to be completed. It include
graphical representation of the activities, the horizontal axis represents the time frame that is to
be allotted to each activity (Thite, 2018). Gantt chart assist in the process of developing
relationships that can help in achievement of the laid aims and objectives of the research report
as per provided time frame.

Step 2: Primary and secondary research
Qualitative research method: It is regarded as method where data is available in theoretical
way and there is not much presence of numerical form of information (Galagan, Hirt, and Vital,
2019).
Quantitative research method: In this method data is collected in numerical form. It helps
researcher in the process of having in depth information related with various issues that are part
of the research topic.
Primary method: In this method data is generated by the researcher for specifically
addressing the research problem (Energy, 2019). It includes various sources through which
information can be generated that include observations, surveys and questionnaires in order to
collect relevant primary form of information.
Secondary method: This type of data is obtained from existing sources that includes
journals, books and other secondary available source from which analysis can be made to reach
relevant recommendations and conclusions (Ehrnrooth and et.al., 2018).
Sampling: It is a key research instrument that is used for conducting the research. It
includes selecting the best subset of individual from a relevant target set of population. Sampling
is used in the present research work for having a proper process of collecting information. In the
present report research questionnaire is used for the purpose of having effective information base
from employees who are working in TESCO. For this a sample size of 30 respondents is to be
used by the researcher.
Questionnaire
Q1. Do you posses basic idea about the concept of talent
management?
Frequency
a) Yes 22
b) No 8
Q2. What are the some of the major aspects of talent management
process in organisations?
Frequency
a) Career development ideas 7
b) Talent retention 9
c) talent planning 6

d) Management of performance 8
Q3. What are the advantages for a organisation of having effective
talent-management process?
Frequency
a) Enhancement in organisation productivity 7
b) Developing suitable brand image 8
c) High-amount of Employee satisfaction 8
d) TESCO having required competitive advantage 7
Q4. What are some of the suitable talent management strategies
that can be used by TESCO for attracting and retaining of top
talent and competent employees within the organisation?
Frequency
a) Offering required opportunities of training and development 10
b) Offering of competitive pay 8
c) Allowing relevant employee participation 6
d) Offering of relevant rewards and recognition 6
Q5. Do you believe that effective talent-management strategies
that is helping TESCO in achievement of required competitive
advantage?
Frequency
a) Yes 24
b) No 6
Q6. As per your view point, what the overall consequence of talent
management strategies affecting the overall productivity and
profitability?
Frequency
a) Positive impact 20
b) Negative impact 6
c) Neutral 4
Q7. What are some of the effective talent management strategies
within an organisation?
Frequency
a) Enhancement in cost 7
b) High employee turnover 9
c) Ineffective Leadership 6

d) All of above 8
Q8. According to your view point, does ineffective talent
management process may affect the performance of employee at
workplace?
Frequency
a) Yes 23
b) No 7
Q9. What is the best Talent Management measurement criteria that
have to be adopted by TESCO for employees?
Frequency
a) By making assessment of potential 8
b) By analysing of competencies 12
c) By evaluation of results 10
LITERATURE REVIEW
Concept and role of talent management within an organisation
As per view points of Scott Keller (2019), talent management is a very important concept
that can help organisations in course of retaining and attracting of competent talent. With the
changing external environment that includes several activities such as instances of great
recession and war for talent that resulted into situation of war for jobs lead to unemployment
levels that hit in year 1980s (Saurombe and Barkhuizen, 2020). While walmart launched
themselves in year 2013 that received approx 23000 application for 600 positions. As per the
McKinsey global institute of study it is suggested that employers in North America and Europe
require 16 million to 18 million of workers in 2020 as compared to those that will be available.
Business leaders are recognizing the fact that talent is scarce and is highly valuable that leads a
requirement to have proper talent-management strategies for the purpose of acquisition and
retention of suitable talented workforce in the organisation. In TESCO leaders are using it as a
employee value proposition so that employee contribution can be maximized.
various challenges that are faced by TESCO in the course of implementing talent-
management strategies in organisation

As per Echelon (2020), there are many challenges that are faced by organisations in the
course of implementation of effective talent management process. Such as poor hiring strategies
may affect the Strong staffing plan. Requirement of proper automation is also related with
having simplification of business operations and streamlining press that may affect the process of
hiring employees (Guðmundsdóttir, Aðalsteinsson and Helgudóttir, 2017). Another related to
challenge is relate to ineffective leadership that may affect the process of hiring employees in
TESCO. High employee turnover is also a challenge in TESCO that can be a big issue associated
with hiring of employees and having effective process of talent management (Attracting and
retaining the right talent, 2017).
Talent-management strategies that are adopted by TESCO for attracting and retaining of
employees
Talent management initiatives By Walmart and TESCO
As per Jim Molis (2019), there are certain strategies that have to be used by TESCO for
the purpose of retaining and attracting of employees. Such as there is need to understand the
values and mission of the organisation. In TESCO organisation is working towards employee
focussed culture in context of walmart there is more focus on work culture. For the purpose of
employees to feel values there are various recognition programs that are implemented in TESCO
that includes comfortable working environment and performance bonuses (Tedjamulja, 2020).
There is involvement of employees in the recruiting of new employees so that employees can be
recruited as per specific requirements of the organisation. Further in walmart there is requirement
of positive environment for business professionals.
The organisation is willing to attract top talent by sharing of information related to the
company by sharing of recruiting videos, photos from events and testimonials from employees.
Organisation can focus on using various digital media as a strategy for the purpose of attracting
competent employees. Further for attracting of competent talent walmart can offer competitive
pay, offering of unique benefits in terms of parental leaves, special perks and benefits for
retaining and attracting of talent (Attracting and retaining top talent: 5 ways to make them come
to you, 2019). There is more focus on diversity by being inclusive in reducing bias and having
effective hiring practises for creation of a diverse company culture that can enhance employee
functioning.
Analysis base on literature review:

it can be analysed from the collected information while analysing the various talent management
aspects the organisations has to focus on attracting of top talent so that there is effective
employee functioning in the organisation. This aspect is also related to having inclusive
workforce that can lead towards effective hiring practise so that a diverse company culture can
be created for enhancing the employee functioning. There are many challenges that are faced by
employers in the process of managing the overall functioning of employees.
Step 3: Present findings
Theme 1: Awareness about talent management
Q1. Do you posses basic idea about the concept of talent
management?
Frequency
a) Yes 22
b) No 8
Interpretation: It is interpreted from the above mentioned graph that while it was
questioned to 30 respondents about the basic concept of talent management process. 22
respondents had a Positive view point while 8 others replied in a negative manner.
Theme 2: Components of talent management
Q2. What are the some of the major aspects of talent management Frequency
22
8
a) Yes
b) No

process in organisations?
a) Career development ideas 7
b) Talent retention 9
c) talent planning 6
d) Management of performance 8
Interpretation: while it was questioned to 30 respondents about the major aspects of
talent management process in TESCO. 8 respondents felt that there can be effective talent-
management of performance, 6 felt that there can be focus on talent planning. 9 respondents had
a view that there can be use of effective talent retention strategies while remaining 7 had a view
that career development ideas can be adopted in order to focus on the talent-management
process.
Theme 3: Benefits of talent management
Q3. What are the advantages for a organisation of having effective
talent-management process?
Frequency
a) Enhancement in organisation productivity 7
7
9 6
8
a) Career development
ideas
b) Talent retention
c) talent planning
d) Management of
performance