Innovative Ways of Working in Talent Management at TESCO: A Project

This project examines TESCO's talent management strategies, focusing on initiatives designed to attract, retain, and develop employees. The project includes an introduction to the significance of talent management, the project plan, research methodology, and findings. The research utilizes both primary and secondary data collection methods, including surveys of TESCO managers. Key findings highlight the importance of competitive salaries, flexible schedules, and employee recognition. Recommendations emphasize the need for considering employee expectations and financial factors when implementing talent management strategies. The project concludes with an evaluation of the research and suggests areas for future investigation, providing a comprehensive overview of TESCO's approach to strategic talent management and its impact on business performance.

Managing a Successful
Business Project
(What are the types of new initiatives and
innovative ways of working do companies put
in place to achieve a strategic approach to
talent management?)

TABLE OF CONTENT
SECTION 1- INTRODUCTION.....................................................................................................3
SECTION 2- PROJECT PLAN.......................................................................................................4
SECTION 3- RESEARCH..............................................................................................................5
SECTION 4- FINDINGS AND RECOMMENDATIONS.............................................................8
SECTION 5- EVALUATION.......................................................................................................12
SECTION 6: CONCLUSION........................................................................................................15
REFERENCES..............................................................................................................................16
APPENDICES...............................................................................................................................17

SECTION 1- INTRODUCTION
In every organization employees are the most significant resource because they assist in
operating every activity and task in the workplace. For this organizations form talent
management dedicated to form new initiative, steps and strategic approaches so that talented
employees could be attracted, retained and developed in the workplace (Sparkman, 2018). The
current project is based upon talent strategies used by TESCO. This would help Labours and
Wait Ltd to adopt such strategies for organizing and maintaining its workforce.
Research Aim: To determine the different initiatives taken by talent management in the
organization and its importance towards business performance and retaining talented individuals
in the organization. A study on TESCO
Research Objectives:
 To determine the importance and need of retention of staff in the workplace within
TESCO
 To identify the various initiatives adopted to retain employees in the workplace and their
impact on business performance within TESCO
 To investigate aspects that need to be considered by managers while forming initiatives
and innovative ways for retaining employees within TESCO
Research Questions:
 What is the importance and need of retention of staff in the workplace within TESCO?
 What are the various initiatives adopted to retain employees in the workplace and their
impact on business performance within TESCO?
 What are the aspects that need to be considered by managers while forming initiatives
and innovative ways for retaining employees within TESCO?

SECTION 2- PROJECT PLAN
Project management plan is one of the important steps for conducting investigation because
in this all resources are planned for doing every activity. The various components that are needed
in the present project management plan are:
Time
Time is one of the necessary components because proper time duration is required to
complete every activity and task successfully. For the completion of current project 8 weeks are
needed by project manager to achieve objectives.
Cost
In simple words cost is required money for doing different tasks and activities for the
completion of project. For this researcher has made budget in which funds are allocated to do
certain activities. The total fund required is £600 to carry out every task and activity in a proper
manner.
Quality
The present research has taken primary as well as secondary resources to collect data
with the resources. Project manager has aimed at taking out great quality data to meet aim and
objectives with secondary and primary. Researcher has aimed to take out appropriate information
related to the topic.
WBS
Work breakdown structure is a method of dividing large activities into tiny tasks because small
tasks are easier to complete in provided time period. When tasks are classified into smaller task
there is more efficiency and effectiveness and project manager can easily see the progress.

Gantt chart
Gantt chart is basically a timeline of completing project. In this every activity is given with
its start date and end date to operate. This helps in completing project in time by project manager
in a very simple manner. It is pictorial description of activities with time to be conducted in order
to achieve objectives of research.

SECTION 3- RESEARCH
Research Methodology
It is that section in research that assists in providing appropriate methodology to collect,
gather interpret and analyze information as per the requirement of project.
Research Philosophy
Philosophy provides foundation of project that determines set of beliefs that research is
dependent upon (Mishra and Alok, 2017). The two types of positivism and interpretivism are:
Positivism is selected because it assists in evaluating every piece of information available in
numerical format.
Research Approach
Research approach is the method for analysis of data. It is being classified into two kinds
that are inductive and deductive approach (Bairagi and Munot, 2019). Deductive approach is
chosen by project manager because it supports research philosophy and analyzes numeric data
without taking longer time duration.
Research Strategy
Research strategies are defined as methods that are available to project manager with the
motive of gathering relevant information to the topic (Dźwigoł and Dźwigoł-Barosz, 2018).
Experimental research, case study, survey, archival research, grounded theory etc are some of the
strategies but survey is chosen by project manager because it facilitates gets in collecting
quantitative data in the present project. This method is economical and collect information
related to the topic.
Research choice
Qualitative and quantitative are the two main types of research choice. Both are great
types for collecting information but by looking at the requirement of project, project manager has
chosen quantitative research choice. It is the type that only focuses on data that is present in the
form of numbers and this kind of data is more relevant and accurate (Devi, 2017).
Data collection
Primary and secondary are the two significant types of data collection. Project manager
has taken help of primary and secondary data collection because they are necessary for meeting
aim and objectives. Primary is selected because it helps in taking out raw information through
survey strategy and secondary is selected because it takes out existing data to fill gap existing in

it. The sources for secondary data include articles, publications, journals, magazines etc (Ragab
and Arisha, 2018).
Sampling
It is the method of selecting participants to carry out information they have. It provides
two types probability and non-probability sampling, project manager has gone with probability
sampling because it allows selecting participants without any specific requirements (Worthington
and Bodie, 2017). 20 managers are selected from Tesco because they are the responsible person
for formation of talent strategies in the workplace.
SECONDARY INFORMATION
What is the importance and need of retention of staff in the workplace within TESCO?
According to Lee (2021), it should be noted that staff turnover that is in moderate level
could be good for businesses but if it increases the moderate level then it creates problem for
organization. Staff retention is important for an organization because it helps in continuing every
business operation in successful manner. If employees leave the company, that specific
employee’s position would be vacant for some period that ultimately cause loss to the
organization. It is important to retain employees so that no position remains idle.
Another need of staff retention is reducing cost of turnover when employees leave
organization the company has to advertise the vacant position, conduct interview and provide
training to new employees. It ultimately increases the cost of organization so by retaining
employees there is no need of recruiting employees again and again. The most important reason
of retaining employees is to have employees who are talented and qualified for taking business
forward towards the direction of development and success. If talented employees leave the
company it would cause harm to the organization as they have lost their important asset that is
talented worker.
What are the various initiatives adopted to retain employees in the workplace and their
impact on business performance within TESCO?
According to Vaiman, Collings and Scullion (2017), it is essential for Tesco to come with
the new initiatives and strategies of retaining employees in the workplace because employees are
the precious asset to continue the business operations. Some of the initiatives adopted by Tesco
are:

Attractive and competitive salary
Employees work in organization with the motive of earning money. So, the biggest
attractive thing for an employee is salary Tesco provides competitive salary to every employee
working in the organization. So that employee does not leave the same organization by saying
that the other company is giving more salary. Tesco already works in safer zone by providing
more salary than competitors in the market to each and every employee.
Flexible schedule
Tesco believes in providing flexible schedule to each and every employee working in the
workplace. The company understands the importance of making balance between personal and
professional life. This particular thing motivates employees to stay in the company as they know
they could easily work in any shift by managing their professional and personal work.
What are the aspects that need to be considered by managers while forming initiatives and
innovative ways for retaining employees within TESCO?
According to Antony and Weisner (2019), before forming different new initiatives and
strategies with the motive of achieving strategic talent management approach Tesco must
consider various factors and aspects so that successful strategies could be formed.
Funds
The managers of Tesco must evaluate and determine the financial condition of company
before coming with the new strategy and initiative to strategic talent management approach
because these strategies need large amount of investment. Money is referred as one of the aspects
that should be considered very importantly because if it is used inappropriately it could cause big
loss for the organization.
Expectations and requirements of employees
Managers of Tesco must determine and identify the expectations and requirements of staff
because talent strategies are made for employees. Employees are the reason to form talent
strategies so that they could be retained in the organization. Employees stay in the company
when their needs, expectations and requirements are fulfilled by the organization.

SECTION 4- FINDINGS AND RECOMMENDATIONS
Q1) Do you think that every company must have talent management in the
workplace?
Frequency
a) Yes 19
b) No 1
Q2) As per your opinion, what is the need of staff retention in the
workplace of Tesco?
Frequency
a) Positive environment 5
b) Business continuity 5
c) Reduce cost of turnover 5
d) Talented employees are precious 5
Q3) What are the initiatives adopted to retain employees in the workplace
of TESCO?
Frequency
a) Attractive and competitive salary 7
b) Flexible schedule 2
c) Extra perks and benefits 6
d) Appreciate and recognition 5
Q4) In your opinion, what is the impact of above mentioned strategies on
the performance of business within TESCO?
Frequency
a) Negative 15
b) Positive 2
c) Neutral 3
Q5) What are the factors that should be considered by managers of TESCO
while forming strategies to retain talent?
Frequency
a) Funds 12
b) Expectations of employees 5
c) Employee productivity 3
Question 1: Every company must have talent management in the workplace

Q1) Do you think that every company must have talent management in the
workplace?
Frequency
a) Yes 19
b) No 1
Interpretation: From the data it is recorded that 19 participants answered yes that every
company must have talent management and the rest 1 respondent answered no that there is no
compulsion to have talent management.
Question 2: Need of staff retention in the workplace of Tesco
Q2) As per your opinion, what is the need of staff retention in the
workplace of Tesco?
Frequency
a) Positive environment 5
b) Business continuity 5
c) Reduce cost of turnover 5
d) Talented employees are precious 5

Interpretation: By the provided data there is serious need of retention of staff. 5 respondents
have said positive environment, other 5 participants said business continuity, another 5 said that
to reduce the turnover cost and the remaining 5 said talented employees are precious.
Question 3: Initiatives adopted to retain employees in the workplace of TESCO
Q3) What are the initiatives adopted to retain employees in the workplace
of TESCO?
Frequency
a) Attractive and competitive salary 7
b) Flexible schedule 2
c) Extra perks and benefits 6
d) Appreciate and recognition 5