Unit 6 Project: Talent Strategies for Marks & Spencer (BTEC)

This project report, titled "What talent strategies do the best companies use to attract and retain people?" and focusing on Marks & Spencer (M&S), analyzes talent management strategies. The project begins with an introduction to talent management, followed by project aims and objectives, including understanding talent management, evaluating strategies for staff retention, and determining the advantages of talent retention for M&S. The report details a project management plan covering cost, time, scope, quality, communication, risk, and resources. It includes a work breakdown structure and Gantt chart for timeframes and stages. The research methodology incorporates qualitative and quantitative methods, with data collection through primary and secondary sources, including questionnaires. The data analysis reveals insights into the concept of talent management, strategies for staff retention, and advantages. The report concludes with effective suggestions and reflections on the project's value, contributing to understanding talent management practices at M&S.

Unit 6 – Managing a
Successful Business
Project

Contents
Project Title: “What talent strategies do the best companies use to attract and retain people?”.....1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1: Devise clear aims and objectives for your project................................................................1
P2 Produce a project management plan that covers, aim and deliverables, time, quality,
communication, risk and resources..............................................................................................1
P3. Produce a work breakdown structure and Gantt chart to provide timeframes and stages for
completion...................................................................................................................................1
TASK 2............................................................................................................................................1
P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives methodology.............................................1
TASK 3............................................................................................................................................1
P5. Analyse research and data using appropriate tools and techniques.......................................1
P6. Communicate effective suggestions as outcome of finding and data analysis......................1
TASK 4............................................................................................................................................1
P7 Reflect on the value of undertaking the project to meet stated objectives and own learning
and performance..........................................................................................................................1
CONCLUSION................................................................................................................................1
REFERENCES................................................................................................................................2

Project Title: “What talent strategies do the best companies use to attract and
retain people?”.
INTRODUCTION
Talent management is considered as the procedures or approach of strategic method of obtaining
appropriate talent as well as aids them in attaining higher abilities to accomplish firm’s
objectives. Moreover, the concept of talent management is vital as this aids them to enhance the
high productivity into work area. In addition to this, there are several numbers of strategies
which could be utilised through firm for talent management like rewards, recognitions and many
others. It would be helpful in attracting and retaining skilful individuals. For this, report, the
undertaken company is Marks & Spencer, this is one of the renowned retailers which have
headquarters is in London, England, United Kingdom. That mainly deals in clothing home items
and food items. The topics that are described in this report are project aims, objectives, Gantt
chart and work break down structure. Moreover, the research methodology and data
interpretation are also explained. Apart from this, the recommendation and reflection are also
provided in this report.
TASK 1
Devise clear aims and objectives for your project.
Project Aim:
“To analyse the strategy that are used to retain and attract competent workforce. A Case
Study on Marks & Spencer”.
Project Objectives:
 To understand the concept of Talent management.
 To evaluate the several strategies for developing staff retention.
 To determine the various advantages to Marks & Spencer by talent retention.
Research questions:
 What do understand by the concept of talent management?
 What are the several strategies required for developing staff retention?
 What are the various advantages to Marks & Spencer by talent retention?
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Produce a project management plan that covers, aim and deliverables, time, quality,
communication, risk and resources.
For accomplishing the project, this needs systematised procedures to be complying that
included number of phases, methods and specific practices called project management plan.
Respective management plan concentrates upon providing effectiveness to attainment of
strategic goals in effective way. Marks & Spencer concentrates upon developing a successful
Project management plan for effectual decision taking within entity. The stages of formulating
project management plans are discussed below in respect of this project:
 Cost: It is regarded as the costs which are required by project manager for completing the
project in appropriate and efficacious way. Additionally, the cost that is needed for this
specific research is £1000 to complete this project in effective way.
 Time: The time undertaken for accomplishing the specific project is vital aspects that are
undertaken through respective firm to concentrate upon project time scale. If project is
considered through administrative to accomplish, this takes about 6 weeks of time period
for completing the project.
 Scope: There is a board project reach within Marks & Spencer as the techniques,
concepts and tools utilised to develop them are adapted across the world. In addition to
this, firm accept talent management as well as determine this advantageous at wider
level.
 Quality: Respective aspects of project management plan concentrates upon quality of
information that are obtained from the project. Along with this, it highlights how
effectual is as well as their quality with assistance of TQM total quality management.
Herein, the project manger opt effective primary as well as secondary functions by
quality source of knowledge resources for accomplishing project.
 Communication: Appropriate communication while develop project plan is vital to
assures that gaols as well as messages are performed consequently. So, for instance, the
research and project manager may used some tools like social media, e-mails and others
are utilised as the means of communications for undertaking the project into entity.
 Risk: This is undertaken as the vital factors which analyse risk that are occurred during
project management plan. Moreover, the risks that are incorporated into respective
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project are not completion of specified outcomes, lack of resources, shortage of funds and
many more.
 Resources: This particular element shows resources which are required by researcher in
order to perform research. Along with this, the research needs resources for this project
are finance, personnel and many more.
Produce a work breakdown structure and Gantt chart to provide timeframes and stages for
completion.
Gantt Chart:
This is regarded as the tools that is utilised through firms for planning as well as
scheduling the projects with intent of accomplishing the project in effective way. With assistance
of Gantt chart, this is simple to analyse and determined resources, personnel, planning which is
needed through project manager to accomplish the overall activities in appropriate way. In
addition to this, it is essential for research to assure that charts are being developed in efficient
manner so that outcomes are favourable. Along with this, this is also describe that it is essential
for manager for assuring that these charts depicts the appropriate information relate to concepts
that are statistic.
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Work break down structure:
This is undertaken as the procedures or approach wherein task as well as practices are
being categorised in simple procedures to attain effectively. In respect of Marks & Spencer, this
is vital for using respective approach so that this is simple for staff to perform its task in efficient
way. Additionally, this is much crucial that it is by utilising this technique develops it simple for
personnel to minimise work difficulties for better delivery of outputs. Along with this, the key
advantage of these tools is that the tasks are delegated to workers through categorising the work
into several segments.
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This is essential for entity to have effective understanding related to these tools so that
objectives can get attainable. Within project, time frames are crucial to be determined so that
task is being accomplished at particular time duration.
TASK 2
Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives methodology.
As per the basis of project information, research methods are adapted. Additionally, the
firm adopts several forms of research method for accomplishing overall aspects of business
goals:
Research methodology is undertaken as essential methods that is utilised through
researchers in order to assure that the data accumulated is reliable as well as effective. In
addition to this, there are several methods that are applied through researchers for accomplishing
the project. Furthermore, these incorporate qualitative research method, quantitative research
method and others. All of them are described below:
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 Qualitative method: This is considered as non statistical research method. Within this,
information is described in terms instead of numbers. Moreover, respective method is
utilised to accumulate detailed and deep information upon particular topics from
respondents. Within it, group discussion, focus group interview and other are performed
for getting conceptions, opinions upon particular topic. Also, questions are developed in
such a way so that researcher would be able to obtain deep understandings.
 Quantitative research: This is also helpful when information is statistically as well as
represented with charts and graphs. Within this method, several numerical tools are
applied for examining as well as interpreting the available information. With assistance
of respective methods could be undertaken from large population by observations,
surveys and many others. Questions are usually close ended or MCQs so that investigator
could obtain fast response from respondents.
Therefore, among the above both qualitative as well as quantitative methods are used as this
helps researcher is to save time as well as access board range o information. Moreover, the
quantitative methods aids researcher to obtain information and enhance effectiveness of those
data.
Data collection methods:
This is undertaken as the systematised as well as vital method. During this, time, firm as
well as business develop it possible for connecting to their internal as well as external
atmosphere involving staff, suppliers, and other through assistance of interacting and research
information. Data collection method is several forms of tat are described underneath:
 Primary data: It is considered as one of the essential data sources where only fresh and
new data are attained with assistance of some sources interviews, surveys and many
more. In addition to this, it one of the appropriate manner and is fundamentally utilised
for maximising the business productivity.
 Secondary Data: This is considered as the information has been accumulating through
few others researchers. Along with this, it collects with assistance of several journals,
newspapers, websites and many more. As information in not fresh so that this needs few
changes based upon the current research needs. Respective method of data accumulation
is time taking as well as cost effective.
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Therefore, the primary as well as secondary data collection method is utilised for undertaking
any projects within project management. Moreover, the opting appropriate techniques of data
accumulation are that drives the effective research report quality. Along with this. The data
associated strategies as well as concepts are vital for undertaken firm that are executed into talent
management of firm.
Sampling: This may be defined as those function that incorporates choosing a sample from
whole population. In context to this research, there are mainly two key approaches such as
probability as well as non probability. Both are applied within it that affects the performance. for
this, the chosen sample size is 30.
Questionnaire:
Do you have any idea about the concept of talent management?
Yes
No
What are the several strategies required for developing staff retention?
Recruitment
Training and development
Staffing
What are the various advantages to Marks & Spencer by talent retention?
Retaining finest talent
Efficient and effective performance
Strengthen human capital structure of company
What are the initiatives used by Marks & Spencer for managing the talent in workplace?
Maintaining individual identity
Training and development
Job rotation
According to you, what are the various ways to maximise staff retention?
Providing right benefits
Increasing training programs
Do you agree that talent management assists in enhancing organisational performance?
Yes
No
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What are challenges which are faced by Marks & Spencer, if talent management concept is
not appropriately followed?
Negative benefits
Low productivity
None of the above
What is the impact of implementing talent management upon organisational performance?
Positive impacts
Negative impacts
Any suggestions..?
TASK 3
Analyse research and data using appropriate tools and techniques.
Theme: 1- The concept of talent management
1. Do you have any idea about the concept of talent management? Frequency
(a) Yes 25
(b) No 5
Interpretation: Based upon the above report, this has been analysed that the concept of
talent management is vital as this aids them to enhance the high productivity into work area.
Therefore, out of 30 participants 25 are in favour of yes rest 5 are saying no.
Theme: 2- Strategies required for developing staff retention.
2. What are the several strategies required for developing staff retention? Frequency
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(a) Recruitment 8
(b) Training and development 15
(c) Staffing 7
Interpretation: There are various strategies such as recruitment, training and development
and others which are helpful in developing staff retention. So, from the above graph, this has
been interpreted that among 30 participants, 8 re responding towards recruitment, 15 are in
favour of training and development and rest of them are saying staffing.
Theme: 3- Advantages of talent management
3. What are the various advantages of talent management for Marks &
Spencer?
Frequency
(a) Retaining finest talent 12
(b) Efficient and effective performance 10
(c) Strengthen human capital structure of company 8
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Interpretation: From the above graph, it has been analysed that there are various
advantages of talent management such as retaining finest talent, effective performance and many
more for Marks & Spencer. So, out of 30 respondents 12 are responding towards retaining finest
talent, 10 are in favour of efficient and effective performance and rest of them are saying
strengthening human capital structure of company.
Theme: 4- Initiatives used by Marks & Spencer for managing the talent in workplace.
4. What are the initiatives used by Marks & Spencer for managing the
talent in workplace?
Frequency
(a) Maintaining individual identity 15
(b) Training and development 10
(c) Job rotation 5
Interpretation: There are some initiatives which can be used through Marks & Spencer in
order to manage the talent within work areas. So, among 30 participants 15 are in favour of
maintaining individuals’ identity, 10 are responding towards training and development and rest
of them that is 5 are saying job rotation.
Theme: 5- Various ways to maximise staff retention.
5. According to you, what are the various ways to maximise staff
retention?
Frequency
(a) Providing right benefits 20
(b) Increasing training programs 10
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