Business Project: Talent Management Strategies at Tesco Analysis

This project analyzes talent management strategies, focusing on a case study of Tesco. The aim is to understand the strategies organizations use to retain talented employees. It examines the concept and importance of talent management, the challenges faced in retaining staff, and the strategies employed to manage talent. The project includes project planning, a logbook detailing progress and challenges, a performance review, and a business case presentation. Key areas covered include scope, time, cost, risk management, and research methodologies. The research uses both primary and secondary data to evaluate Tesco's talent management practices, highlighting the benefits of motivated and engaged employees and the importance of employee engagement programs and feedback mechanisms.

Unit 6 – Managing
Successful Business
Project

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Project Aim and Objectives.............................................................................................................3
1 – Project planning.........................................................................................................................3
2 – Project Logbook.........................................................................................................................5
3 – Performance Review..................................................................................................................8
4- Business Case Presentation.......................................................................................................10

INTRODUCTION
It is important for an organisation to retain employees in an organisation. Talent
management is an activity that is undertaken in an organisation to manage all the employees in
the company, to motivate them as well as to retain them for longer duration of time (Payne,
Roden, and Simister, 2019). Talent management helps to enhance the performance of employees.
MAIN BODY
Project Aim and Objectives
Aim: “To analyse the strategies that are used by organisation to retain talented
employees.” A case study on Tesco.
Objectives
 To understand the concept and importance of talent management.
 To examine the challenges faced by organisation while retaining talented staff in
organisation.
 To find out the strategies those are used to manage talent in an organisation.
Questions
 Determine the concept and importance of talent management?
 What are the key challenges faced by organisation while retaining talented staff in
organisation?
 List the strategies that are used to manage talent in an organisation?
1 – Project planning
It is a plan that is formulated to achieve the goals and objectives effectively. It is seen that
there are various important factors that are being considered under project management plan
such as scope, time, resources, cost, requirements and risk (Hillsqn, 2017). It is necessary to
consider all these points in order to achieve success.
Scope: Scope shows the focus of the report. The work break down structure as well as
Gantt chart will help to guide. It is seen that the scope of talent management is wide. Each and
every organisation no matter what their size is must follow talent management strategies. It is
helpful for the company to retain the employees as that helps the company to achieve goals and
objectives effectively. If the company is not able to follow them then they have face various

limitations such as high employee turnover, demotivate employees, increased expenditure on
training.
Time: It is important to decide the time in which project will be completed. It is
important to complete the work as per deadlines.
Cost: Deciding the cost and budget of the project. It helps to work in an effective and
achieve goals and objectives.
Activities Expenditure (Pound)
 Analysed the issue £ 5000.00
 Construction of plans £ 10000.00
 Research evaluation £ 15000.00
 Salary of researchers £ 18000.00
 Miscellaneous expanses £ 20000.00
 Project execution cost £ 25000.00
Total £ 93000.00
Gantt Chart and WBS

2 – Project Logbook
Project Logbook
Name:
Project title: “To analyse the strategies that are used by organisation to retain
talented employees.” A case study on Tesco.
Date:
Update on period of development

What have you completed in this period?
I have done whole research in the time period
Did you complete the work that you had planned?
Yes, I worked as per plan
Are you on track and within deadlines set?
Yes
Did you need to make any changes to your project plan?
No
Risks and/or issues identified
Did you identify risks/issues related to a lack of knowledge or skill required
to undertake the work you had planned?
Yes
Did you identify any additional risks/issues that have an impact on your
project plan?
Yes, it was difficult to manage time.
Problems encountered
What challenges did you face?
Interacting with sample size
How did you overcome them?
With my communication skills
New ideas and change of project direction
In developing work, addressing risks/issues, has the direction of your work
changed?

Yes
How does your work justify the change of direction?
With the help of action plan
Is this clear?
Yes
Do you feel this change of direction has enhanced your work? How?
Yes
What have you learned about yourself through your work?
What are the most important things that your work has revealed to you?
By communication and presentation skills
How might this learning apply in the future?
In future projects
How did you feel when you had to deal with challenges/problems?
I felt very nervous and stressed.
How well do you feel you have you performed?
I have used my efforts complete the project
What can you improve?
I was to improve my time management skills
Next steps for your work
What aspects of your work should you prioritise?
Data analysis and collection
Have you allowed sufficient time for completion?

Yes
Project plan status to date
Do you feel you are on track to complete your work on time?
Yes, with Gantt chart
Do you feel your work shows your achievement of the Learning Outcomes?
Yes
Tutor Feedback
3 – Performance Review
Performance Review
What did you aim to achieve through your work?
“To analyse the strategies that are used by organisation to retain talented
employees.” A case study on Tesco.
Did your work succeed in achieving your aims? How do you know? Specifically,
please
outline any evaluation and assessment undertaken.
Yes, by Workington as per Gantt chart and WBS.
What aspects of your development process do you think worked well and why?
Evaluate
all aspects of the project (e.g. initial research, concept development, development
process, presentation, etc.) from a range of perspectives.
I formulated aims and objectives and then conducted research through primary
and secondary research. Then working as per time and noting down the cost
also helped me to complete the project with in time line.

What problems emerged during the project and how were they tackled? Was there
timely identification of issues and resolution during the project process?
There was lack of time.
What did you learn from undertaking the project?
Concept of talent management and the strategies that help company to manage
talent.
What are the strengths and weaknesses of your process that you have identified?
The Strength is communication skill and weakness is time management skills.
How could your process improve for the future?
By working on time management skills and working with more focus.

4- Business Case Presentation

Notes
Questions
 Determine the concept and importance of talent management?
 What are the key challenges faced by organisation while retaining talented staff in
organisation?

 List the strategies that are used to manage talent in an organisation?
Notes
It is seen that motivated employees are asset for the company and work in an effective manner to
accomplish goals and objectives successfully (What Is Talent Management and Why Is It So
Important?), 2019. Talent management helps to engage employees to work in an effective
manner and to work for monger duration of time in the company. Along with that the company is
able to do all the functioning effectively by adopting the talent management strategies. It is
important for an organisation to take proper care of the employees. As the they are working
assets of the organisation. It is necessary to use employee engagement programmes that help to
retain the employees. Proper feedback must be taken from the employees and then corrective
measures must also be taken. The employees must be motivated so that they are able to work in
an effective way. Each and every organisation must use talent management strategies so that they
are able to work effectively achieve success.

Notes
• Scope: Scope shows the focus of the report. The work break down structure as well as
Gantt chart will help to guide.
• Time: It is important to decide the time in which project will be completed. It is
important to complete the work as per deadlines.
• Cost: Deciding the cost and budget of the project. It helps to work in an effective and
achieve goals and objectives.
Activities Expenditure (Pound)
 Analysed the issue £ 5000.00
 Construction of plans £ 10000.00
 Research evaluation £ 15000.00
 Salary of researchers £ 18000.00
 Miscellaneous expanses £ 20000.00
 Project execution cost £ 25000.00
Total £ 93000.00

Notes
Primary Research: To conduct this research there is need of questionnaire (Berawi, 2020). It is
seen that sample size is 50 as it is not possible to collect data and information from all the
employees. So, sampling is important and will help in gaining true results. The sampling will be
done on random basis so that there is no biases in the research.
Secondary Research: It is vital to note that there are certain sources such as websites, articles,
journals, newspaper. It is necessary to collect the data through authenticated sources so that the
conclusion is also reliable. This part helps to write the literature review.

Notes
I have analysed that talent-management strategies are beneficial for the company as it
enhances the productivity, employee motivation, brand value of the company etc. The
research has boost my confidence and I will undertake future research effectively. There are
various skills such as critical thinking, research skills, time management skills as well as
writing skills by completing this research project. All these skills will help me us future as
well. There afre vcertain issues that I faced in the starting of the research but afterwards I
was able to deal with them. The research assist me in understanding the meaning of talent
management in growth and success of company.

Notes
• Hillsqn, D., 2017. Managing risk in projects. Routledge.
• Payne, J., Roden, E.J. and Simister, S., 2019. Managing Knowledge in Project
Environments. Routledge.
• Rajablu and et.al.,2017. Managing for stakeholders: introducing stakeholder metrics-
integrated model to lead project ethics and success. International Journal of Project
Organisation and Management, 9(1), pp.31-56.
• Ul Musawir and et.al., 2017. Project governance, benefit management, and project
success: Towards a framework for supporting organizational strategy
implementation. International Journal of Project Management, 35(8), pp.1658-1672.
• Zwikael, O. and Meredith, J.R., 2018. Who’s who in the project zoo? The ten core project
roles. International Journal of Operations & Production Management.
Online
• What Is Talent Management and Why Is It So Important?, 2019 [Online] Available
Through https://www.rasmussen.edu/degrees/business/blog/what-is-talent-management/