Talent Management Strategies at Tesco: A Unit 6 Business Report

This report analyzes Tesco's talent management strategies within the retail sector, aiming to identify effective methods for attracting and retaining employees. The project includes a detailed project management plan, outlining scope, costs, timeline, and resources. It utilizes both quantitative...Read More

Unit 6 – Managing
Successful Business
Project
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What talent strategies do the best companies use to attract and retain people?...............................3
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
Project aim and objectives for a chosen scenario...................................................................4
Project plan.............................................................................................................................4
Work breakdown structure and a Gantt Chart........................................................................6
Primary and secondary methods appropriate for meeting project aims and objectives.......10
Present findings....................................................................................................................13
Recommendation..................................................................................................................20
Reflection.............................................................................................................................21
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................23
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What talent strategies do the best companies use to attract and retain people?
INTRODUCTION
Managing a successful business plan is termed as a procedure of effectively analysing business
plan with the help of planning, organising, directing and controlling different type of business
task in order to accomplish objectives (Nura and Yuniarsih, 2021). Talent management plays
essential role for an organisation through which organisation can not only retain talented
employees for long time period but can also gain more competitiveness in industry. Present
report has been conducted on Tesco which is operating its functioning in retail industrial sector.
This report revolves around the aim of the talent management strategies impact upon
organisational workplace structure. For this research objectives has been developed research also
include data analysis project management plan and recommendations.
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MAIN BODY
Project aim and objectives for a chosen scenario
Research Aim-
“To identify the benefits of talent management strategies to manage talent in workplace”
A case study of TESCO
Research Objectives-
 To understand talent management concept.
 To determine the challenges of implementing talent management strategies.
 To identify the strategies of talent management through which TESCO can manage talent
in effective ways.
Research Questions-
 Explain talent management concept?
 What are the challenges of implementing talent management strategies?
 What are the strategies of talent management through which TESCO can manage talent
in effective ways?
Project plan
Project management is termed as a project documentation that effectively outlines project
scope timeline budget and business plan goal. With the help of project management plan
accomplishment of activities can be done within set time frame.
Scope-
Present research report is having high scope as it allows investigator to determine the impact of
talent management strategy through which organisation can manage talent in effective manner
(Polo, 2021). With the help of this research report organisation can maximize performance of
employees and can kitten talent in effective manner.
Cost-
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This is the overall cost which is required to enough to manage or accomplish project
activities. It is one of the most important component of project management plan through which
investigator accumulate resources in order to conduct project activities in effective manner.
Total forecasted budget
Particular 2018-19($)
Implementing technology cost 100
Promotional expense 40
Advertisement expense 60
Catalogues 35
Training charges 65
Total cost 300
Time-
It is as an estimated time duration in which researcher is required to accomplish all the activities.
With the help of this component of project management researcher divide time equally to each
and every activity in order to conduct them in effective manner.
Quality-
It is also one of the most important components of project management plan through
which research accomplish research in accurate and reliable manner. To conduct present research
various amount of method has been undertaken by investigator in order to conduct research with
the help of various information and data.
Communication-
It is essential for researcher to take use of effective communication channel in order to
provide accurate and right information accumulated from various sources to all the stakeholders.
In order to conduct present research investigator with the help of telephonic communication, face
to face communication, email to provide information to associated individuals.
Risk-
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It is the major component of project management plan as to conduct any research. Investigator
will face risk in order to ensure successful outcomes (Priya, 2021). It is essential for investigator
to determine the factors that can cause risk and implement strategies to overcome them.
Resources-
This component of project management plan include various resources such as finance,
human resource through which accomplishment of project will be undertaken in an effective
manner. It helps in accomplishing project goals and objectives in a successful way.
Work breakdown structure and a Gantt Chart
It is an effective technique through which project management can be done in an effective
manner. It is the technique for making the information valuable in a more successful way (Refan
and Suciratin, 2021). This will characterize the breakdown of the assignment so it tends to be
finished in a proper way.
It is the hierarchical description of the whole assignment which is depict according to their
course of events and furthermore help in better comprehension of the objective of the
examination so that each undertaking should be possible in a compelling way.
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Gantt chart
Gantt diagram is resolved as a sort of bar which layout the exercises just as length for directing
exploration in powerful and proper way (Amrainy and Nawangsari, 2021). With the assistance of
Gantt diagram researcher can achieve exercises of specialist in appropriate time period.
Alongside this, it will likewise assist specialist with lessening covering of exercises.
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Primary and secondary methods appropriate for meeting project aims and objectives.
Quantitative research-
It is the way toward gathering the assessing the numerical information that is utilized to discover
the averages, casual relationship, test and make expectation among the huge gathering of
populace. It offers definite insight and the level of the populace that help in completing the
things in a simple methodology (Setia, 2021). It very well may be finished by making the charts
and graphs of the gathered information. This strategy is use for gathering data and information in
effective way.
Qualitative research-
Data collection-
It is the way toward gathering the information and data that will be utilized it the examination.
Furthermore it helps in utilizing factors of the exploration. It helps in completing the things in a
suitable way (Al-Mashdiny, 2021). In addition to this, it helps in evaluating information by
getting the precise information and figures.
Primary data tool-
This is raw information which is newly utilized by the analyst or can say the information which
is gathered without utilizing the current wellspring of information (Harimurti and Hermawan,
2021). The point of gathering this information is to meet the objectivity of the exploration and
furthermore help in getting the first information that give precise and solid data from the genuine
planned of the people. It incorporates survey, in which all the information is gathered can be
implied from utilizing testing technique.
Secondary data tool-
It is the current information which is accumulated by the other individual that can be use
by the different person that help in expanding the viability of the exploration as it is the handled
information and close to exactness and dependability. This information is gathered from the
books and journals. This information likewise helps in gathering the objectivity of the
exploration.
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Sampling:
It is viewed as an interaction of utilizing a small sample from the entire populace. There are two
sorts of examining techniques that is probabilistic and non-probabilistic information testing
(Mukul and Saini, 2021). In order to conduct this research investigator selected sample size of 20
respondents (employees). Primary reason to select employees as respondents is that they are
having proper information and understanding of culture through which researcher can analyse
information in effective way.
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QUESTIONNAIRE
Name
Age
Gender-
Q1) Are you aware with talent management concept?
a) Yes
b) No
Q2) According to you what is the benefit of talent management strategies?
a) Retention of potential employees
b) Employee Development
c) Retain key talent
Q3) As per your opinion what is the impact of talent management strategies?
a) Positive impact
b) Negative impact
Q4) According to you, what is the most effective strategy that organisation can implement for
better talent management?
a) Detailed job descriptions
b) Person-organization fit
c) Collaborate-coach-evolve
d) Reward and recognize right
Q5) In what way TESCO is currently managing talent?
a) Hiring right people
b) Processing strong management policies
c) Designing merged underlying systems
Q6) What are the different practices of talent management implement by Sainsbury for
managing talent?
a) Talent Finding
b) Talent Development
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c) Talent acquiring
Q7) What are the various challenges faced by TESCO in implementing talent management
strategies?
a) Unappealing company culture
b) Lack of leadership
c) Increased company culture
Q8) Give some recommendation to attract large number of employees and gain more
competitive advantages.
Present findings
Q1) Are you aware with talent management
concept?
Frequency
a) Yes 15
b) No 5
Interpretation-
After evaluating the data research has undertaken response of 20 respondents out of 15
respondents are aware with the talent management concept. While on the other hand remaining
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five respondents does not have any understanding of the same the aware respondents possessed
good skills and knowledge of the concept.
Q2) According to you what is the benefit of talent management strategies? Frequencies
a) Retention of potential employees 10
b) Employee Development 5
c) Retain key talent 5
Interpretation-
According to the analysis of above graph it has been identified that researcher have
undertaken 20 respondents out of which 10 respondents said that the main benefit of talent
management strategies is retention of potential employees. While on the other hand remaining 5
respondents think that employee development is benefit of talent management strategy. At last 5
respondents out of 20 considered that benefit of talent management strategy is that it allow
organisation to retain key talent.
Q3) As per your opinion what is the impact of talent management strategies? Frequencies
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a) Positive impact 14
b) Negative impact 6
Interpretation-
After analysing the above mentioned graph it has been identified that researcher reviewed
viewpoint of 20 respondents out of which 14 respondents said that that there will be positive
impact of talent management strategies. While on the other hand remaining 6 respondents said
that talent management strategy will have negative impact.
Q4) According to you, what is the most effective strategy that Frequencies
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organisation can implement for better talent management?
a) Detailed job descriptions 9
b) Person-organization fit 5
c) Collaborate-coach-evolve 6
9
5
6
Chart Title
a) Detailed job descriptions
b) Person-organization fit
c) Collaborate-coach-
evolve
Interpretation-
According to the above-mentioned graph analysis it has been stated that out of 20
respondents 9 respondents said that detailed job description is the most effective strategy that
company can implement for better talent management. While it has been identified that 5
respondents out of 20 said that person or organisation that is the most effective strategy through
which better talent management practices can be undertaken by organisation. At last remaining 6
respondents out of 20 said that collaborate coach evolve is an effective strategy that can be
implemented by organisation for the purpose of better talent management.
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Q5) In what way TESCO is currently managing talent? Frequencies
a) Hiring right people 10
b) Processing strong management policies 5
c) Designing merged underlying systems 5
10
5
5
Chart Title
a) Hiring right people
b) Processing strong
management policies
c) Designing merged
underlying systems
Interpretation-
As per the above mentioned graph it has been identified that respondents out of 20 said
that Tesco is currently managing talent by hiring right people. While on the other hand remaining
5 respondents out of 20 said that with the help of processing strong management policies
management of talent is done by Tesco on current level. At last 5 respondents out of 20 said that
by designing merged underlying systems TESCO is managing talent.
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Q6) What are the different practices of talent management implement
by Sainsbury for managing talent?
Frequencies
a) Talent Finding 6
b) Talent Development 7
c) Talent acquiring 7
6
7
7
Chart Title
a) Talent Finding
b) Talent Development
c) Talent acquiring
Interpretation-
According to the above mentioned graph it has been identified that 6 respondent out of 20
said that talent finding is different practice of talent management that has been implemented by
Sainsbury in order to manage talent. While on the other hand 7 respondents said that talent
development practices is being undertaken by Sainsbury to manage talent in effective manner. At
last 7 respondents out of 20 goes with talent acquiring strategy that Sainsbury implement to
manage talent in effective manner.
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Q7) What are the various challenges faced by TESCO in implementing
talent management strategies?
Frequencies
a) Unappealing company culture 6
b) Lack of leadership 6
c) Increased company culture 8
a) Unappealing
company culture b) Lack of
leadership c) Increased
company culture
0
1
2
3
4
5
6
7
8
6 6
8
Chart Title
Series1
Interpretation-
As per the above mentioned graph it has been identified that 6 respondents out of 20 said
that unappealing company culture is the major challenge that is being faced by Tesco. While
implementing talent management strategy on the other hand 6 respondents out of 20 said that the
major challenge that Tesco faced in the process of implementing talent management strategy is
lack of leadership. While at last remaining 8 respondents said that increased company culture is
the major challenge that organisation faced in the process of talent management strategy
implementation.
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Recommendation
Talent management play important role for any organisation it’s respective of its size and
scope. It has been identified that Tesco is operating its business operation in retail industrial
sector which is facing aggressive competition. In addition to this it has been underlined that it is
essential for organisation to retain talented and experienced employees for longer period of time
in order to assure your more competitiveness. It has been underlined that rival company of Tesco
Sainsbury is taking different type of talent management strategies in order to gain more
competitiveness. Thus in order to overcome this there are certain recommendation being
provided to Tesco.
Training and development
It plays most important flows through which Tesco can enhance skill, knowledge and
efficiency of employees. With the help of various talent and development programs Tesco can
increase productivity of employees at gradual rate through which employees retain with
organisation for longer period of time as they are satisfied with their performance.
Reward and recognition
It is one of the most important aspect in which Tesco is recommended to provide reward
and recognition to employees according to their performance. It has been identified that
employees if get treated in effective manner according to their performance then they will put
more hard work in the forming their roles and responsibilities. With the help of effective reward
and recognition practices Tesco cannot only retain experience employees for longer time
duration but can also assure competitiveness in industry.
Feedback
With the help of taking feedback from employees organisation can not only resolve their
concerns and queries but can also guide them to work right direction. It is recommended to
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Tesco to take regular feedback from their employees and resolve their concerns in time effective
manner this will help in developing a positive workplace culture.
Thus according to the above mentioned analysis it has been identified that in order to
assure or more competitiveness in industry and talented employees for a longer period of time to
manage talent. With the help of emphasizing upon above mentioned recommended measures can
manage talent in a well defined and effective manner.
Reflection
In order to conduct these research analysis lots of experiences has been faced by me. I am
exceptionally glad that I have that chance to improve my abilities to meet the objectivity of the
report. While going through this report, I have effectively meet the points and goals of the
examination and furthermore broke down the relational abilities as I have utilized right
correspondence channel and deciphers the data in a simple way so every representative can
comprehend the undertaking and contend that in a viable way. There were different difficulties
looking at the hour of information assortment like I am not ready to unblemished with the
representatives and not hearing the specific point of view from them yet slowly, I flawless well
and take the appropriate criticism from the workers who imparted their sentiments and their
experience to the assistance of my persuading power. This report helps me in getting the
privilege forthcoming of the workers and furthermore empowers me to utilize the different
systems to take care of the issue in a viable way. Presently I became acquainted with my
solidarity and compelling utilization of them for the self-awareness of mine that will help to
conduct future research in effective manner.
CONCLUSION
As per the above mentioned report it has been identified that the research report revolves
around the impact of talent management strategy upon workplace within an organisation. It has
been identified from this report that with the help of various talent management strategies
organisation can manage talent in effective manner and can gain benefits in terms of retaining
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experienced employees, enhancing organisation performance and growth. This report also
justifies that project management plan help in managing project in an effective manner through
which successful outcomes can be assured. This report states that Gantt chat and work
breakdown structure effectively helps in managing complex activities that can be accomplished
in right framework of time. With the help of effective data collection suggest questionnaire that
report fulfil the aim through which organisation can determine significant strategies through
which management of talent can be undertaken in effective manner, that father helps in
enhancing growth and development opportunities.
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REFERENCES
Books and Journals
Abouelenien, R. and Abd Elaziz Sayed Ahmed, M., 2021. The Role of Talent Management
Practice in Supporting the Employees Innovation of Five Star Hotels in Cairo. Journal of
Association of Arab Universities for Tourism and Hospitality.
Ahmed, A.J.T. and Bazakama, M.A.S., 2021. The role of E-learning and Talent management in
enhancing the practice of the University of Aden Strategies of the Learning Organization
from the Viewpoint of the Faculty Members: A Field Study. Kut University College
Journal for Humanitarian Science, 29(Special issue).
Al-Mashdiny, R.A.I., 2021. The effect of talent management strategies in achieving job
compatibility: an applied study in the Oil Products Distribution Company/Salah El-Din
Branch. ENTERPRENEURSHIP JOURNAL FOR FINANCE AND BUSINESS, 2(1).
Amrainy, D. and Nawangsari, L.C., 2021. The Effect of Talent Management, Knowledge
Management and Work Culture on the Performance in the Survey Unit Centre of
Hydrography and Oceanography Indonesia Naval (Pushidrosal). European Journal of
Business and Management Research, 6(2), pp.23-29.
CHIŢU, E. and Russo, M., 2021. Modeling competencies from the perspective of talent
management.
Dina, O., Ruth, O., Robert, K. and Selline, I., 2021. TALENT MANAGEMENT
IMPERATIVES AND PERFORMANCE OF AGROCHEMICALS COMPANIES IN
KENYA. International Journal of Social Sciences Management and Entrepreneurship
(IJSSME), 4(2).
Harimurti, C. and Hermawan, R., 2021. The Role of Talent Management in Improving the
Quality of Human Resources: A Case Study approach of National Private
Companies. Technium Soc. Sci. J., 17, p.386.
Mukul, K. and Saini, G.K., 2021. Talent acquisition in startups in India: the role of social
capital. Journal of Entrepreneurship in Emerging Economies.
Nura, A. and Yuniarsih, T., 2021. Analysis of attracting and retaining talent based psychological
contract at the IT Company in Jakarta.
Polo, Y.E.P., 2021. Strategy From Human Talent. In Handbook of Research on International
Business and Models for Global Purpose-Driven Companies (pp. 235-252). IGI Global.
Priya, G.S., 2021. A Study on Strategy of Employer Branding and its impact on Talent
management in IT industries. Elementary Education Online, 20(5), pp.3441-3451.
Refan, G.S. and Suciratin, A.M., 2021. TALENT MANAGEMENT AND EMPLOYEE
RETENTION WITH ORGANIZATIONAL TRUST AS MEDIATING IN INSURANCE
INDUSTRY. Psychology and Education Journal, 58(2), pp.3776-3790.
Setia, D.P.B., 2021. The Influence Of Women Leaders And Their Leadership Style On
Employee Engagement Through Talent Management As Mediating Variable. Turkish
Journal of Computer and Mathematics Education (TURCOMAT), 12(3), pp.3377-3388.
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