Business Project: Talent Strategies for Employee Retention at Tesco

This report provides an analysis of talent management strategies used by Tesco to attract and retain employees. It includes a project plan, primary and secondary research, and an examination of various talent management schemes such as training and development, rewards and recognition, and growth opportunities. The research methodology involves data collection through books, articles, and a survey of 30 respondents. The findings indicate that Tesco benefits from talent management schemes through reduced employee turnover, increased productivity, and enhanced employee engagement. The report also compares Tesco's strategies with those of competitors like Aldi and identifies challenges such as higher compensation demands. The study concludes with interpretations of the survey data, highlighting the importance of flexible timings, rewards, appreciation, and a healthy working environment for enhancing employee productivity. The report enhances communication and time management skills while identifying areas for improvement in primary data collection methods.

Managing Successful
Business Project
“What talent strategies do the
best companies use to attract
and retain people?”
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Table of Contents
Project planning...............................................................................................................................3
Work breakdown structure ..............................................................................................................4
Performance review ........................................................................................................................5
Log book .........................................................................................................................................6
Business case presentation ..............................................................................................................7
References .....................................................................................................................................16
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Project planning
Project planning is a process of defining plan that mostly focus on planning of the overall
project to be done in proper and appropriate manner (Bayne, Purchase, and Soutar, 2021). This
plan is made or required resources. It consist of several components which are discussed below :
 Scope : The first aims and objective are made which consist of various activities that are
to be attained by researcher. In this study, researcher is focusing on collecting data
through primary and secondary sources which helps in collecting true and reliable
information and achieve research objectives successfully.
 Resources: In this present study, researcher is using resources like books and journals to
collect secondary information. Further stationary and respondents are the resources used
in particular research.
 Time : For time schedule, investigator is using WBS and Gantt chart to complete a
research on given time period (Bolton, and Felix, 2021). It involves schedule of each
activity.
 Risk : The risk which is occurred in this present study is lack of financial resources and
lack of interest of people.
 Initiation, planning and execution: This research is started with forming project aims
and objectives. After this project management plan is made and then primary and
secondary sources are made for gathering information.
Work breakdown structure
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4

Performance review
What did you aim to achieve through your work?
“To identify various talent management schemes used to retain employees for long time in an
organisation”. A study on Tesco.
Did your work succeed in achieving your aims? How do you know? Specifically, please
outline any evaluation and assessment undertaken.
Yes, aim is achieved and data is collected through primary and secondary research.
What aspects of your development process do you think worked well and why? Evaluate
all aspects of the project from a range of perspectives.
Things worked well is data interpretation part. Also, I have used Gantt chart and wbs to
complete research on time.
What problems emerged during the project and how were they tackled? Was there timely
identification of issues and resolution during the project process?
Lack of interest of people while filling questionnaire and lack of financial resources. For this
secondary research is conducted.
What did you learn from undertaking the project?
I have enhanced communication skills and time management skills
What are the strengths and weaknesses of your process that you have identified?
Strength are communication skills and decision making skills. On the other hand, weaknesses
are lack of time management skills.
How could your process improve for the future?
Make improvements in primary data collection method by using interview method.
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Log book
Project title:
Date:
Update on period of development
Analysis on talent management schemes used in Tesco.
Risks and/or issues identified
lack of interest of people
Problems encountered
lack of time management
New ideas and change of project direction
Changing in primary data collection method such as interview method is used
What have you learned about yourself through your work?
Communication skills and time management skills have enhanced
Next steps for your work
Primary data collection is a priority
Project plan status to date
yes
Tutor Feedback
6

Business case presentation
(Zhou, Wang, and Breedlove, 2021). The selected organisation is Tesco. It is a British
international grocery store and general product retailer company. This presentation includes
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project aims and objectives, project plan. Further it includes primary and secondary research and
research methodology which is needed to collect data and information.
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This helps at a time of rewards distribution. By having good employee relations, it results
in healthy and positive environment of Tesco. On the next hand, Tesco competitors are using
different strategies to retain employees. Such as Aldi is providing training and development
session to the employees so that they develop skills and knowledge about a specific task which
they have to perform within business environment. But some of the challenge like higher
compensation demands is faced by mangers of Tesco which they have to see and develop some
solution for that.
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Interpretation
From the above, it is analyze that out of 30 members, 10 said reduction in employee turnover
ratio is a benefits company is getting from talent management schemes. The other 12 people says
increasing productivity and profitability is the benefits. Remaining of the respondents says
enhancing employees engagement is a benefit.
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Interpretation
From the graph, it is analysed that out of 30 respondents, 8 said training and development is the
talent management schemes used in Tesco. Next 12 people opted with rewards and recognition is
a best schemes used by Tesco. Remaining of 10 people, goes with growth opportunities is the
best talent management schemes.
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