Talent Management Strategies at Mark and Spencer

H igher Nationals

Assignment Brief – BTEC (RQF)

Higher National Diplomain Business

Student Name	Estera Bogatu			ID	HE09769
Unit Number and Title	Unit 6 – Managing a Successful Business Project
Academic Year	2020/2021	Cohort	April 20	Term	Block 3
Unit Leader	Alfred Agyeman	Assessor	Johnson Obilanade
Assignment Title	Considering a Strategic Approach to Talent Management
Issue Date	20/10/2020
Submission Start Date (Formative)	07/12/2020
Final Submission Date (Summative)	20/12/2020
IV Name	Seethalakshmy Nagarajan
IV Date	19/10/2020
Learners Declaration: I certify that the work submitted for this unit is my own and the research sources are fully acknowledged. Learners Name: Estera Bogatu Date:25/11/2020

Introduction

One of the greatest challenges that every organization is facing is that retaining and attracting the best talent. Mark and Spencer is a multinational retailer company that was founded in the year 1884 by Michael Marks or Thomas Spencer. There are large numbers of employees working at Mark and Spencer that contribute to achieving high revenue and profit every year. In this assignment, various talent management strategies will be analyzed that this company uses to attract and retain potential talent. For conducting Research few aims and objectives will be made that will helps to provide the right way to complete the study.

LO1

Devise project aims and objectives for a chosen scenario

Background

Talent management strategy plays a crucial role that is designed for achieving set objectives and goals of the company to gain an optimal result. Each company needs to consider the retention and motivation of employees very seriously if they wish to maintain long-term survival and profit in the market. It is one of the most important responsibilities of HR to inspire and attract retaining skilled and new talent for the overall performance of the firm. Mark and Spencer is a large organization that uses digital technology for talent acquisition strategies and recruitment to attract and retain top talent from all over the world. By providing great supervision, and allowing employees to show their skills and talent this company retains talent for the long term. Mark and Spencer put so much effort to attract and retain the best talent with some decent monetary and non-monetary rewards scheme.

Problem statement

The main problem is that many organizations avoid the use of a talent management model for retaining the best talent for the long term due to which they face a high employee turnover ratio.

Project strategy

The main project strategy is to analyze all the data and information to understand the importance of talent management strategies in business organizations for improving productivity and performance. By gathering reliable and accurate information the Research will be carried out to reach set aims and objectives.

Aim

• The main aim is to analyze talent strategies that Mark and Spencer use to retain and attract people.

• To evaluate the importance of recruitment strategies and policies to retain talent

• To examine best talent acquisition strategies to attract top talent towards an organization

• To analyze how Mark and Spencer retain talent and skilled employees for the long term

Objective

Some objectives are also made that will provide gaudiness to complete research in the right way. These areas below:

• To identify the importance of external as well as internal recruitment for retaining the best talent in the company

• To examine talent management techniques and motivational methods that management of Mark and Spencer use to retain top talent

• To determine the need for monetary and nonmonetary rewards strategy to retain the best talent of skilled employees.

Produce a project management plan that covers, aim and deliverables, time, quality, communication, risk, and resources

Aim

The main aim of this research is to understand how talent strategies help attract and retain high talent in the organization.

Deliverables

The study carrying out in this assignment would help to understand different recruitment strategies and talent management strategies that the company uses to attract and retain the best talent in their business for the long run. The best examine talent management techniques will be understood at the end of the investigation.

Scope

This research has a wide and large scope that will help Mark and Spencer in improving its retention and recruitment process for hiring top talent and qualified employees. The project is developed to understand talent management that is used by this organization and what are improvement areas on which management needs to pay more attention to retain and attract qualified and skilled talent for the long run.

Cost

It is the most important aspect of research that must be managed in the correct way for completing the whole research work. To complete research it is very important to use £60 of financial cost and resources properly without doing any kind of wastages.

Travelling	£10
Half-day in data collection – time off from work	£50
Total	£60

Time

For completing research in the right way it is a major responsibility of the researcher to implement the task as per the decided time slot which is around 6 weeks from October to 2 December. It provides right way to people who involve in Research work that how much time they need to complete a specific task to achieve the best outcomes. To make the project successful time aspect is most important that is followed by all involved individuals who are working under the study. Research can take either a longer or shorter time frame as an initiative to make the project successful for this study time slot is for around 6 weeks.

Quality

The final result of the research work shows the quality of the project, Researcher needs to analyze every possible outcome of each part of the project plan (Marshall and Rossman, 2014). Research quality is great if the investigator collects good data, facts, and information as per the deadline.

Communication

Before starting the research project, it is necessary to communicate the purpose of the study with employees, ex-staff, and the target audience who will fulfill the questionnaire. Communication is the most essential part of research through which all required details about each task will be shared during the research with all involved individuals that will aid in implementing the project plan is the most corrective manner.

Risk

There are different risk factors that researchers may face during the research project plan implementation such as sufficient data not collected in time, less time, money finishing, etc. The researcher must know these possible risk aspects that they may face in project work so that remedial solutions can be used immediately to achieve the best outcomes in the research study. In a research project, it is necessary to give focus on the risk aspect that helps to understand what risk may be arises while implementing the project plan. A clear picture of risk aspect helps to analyze financial, time, and other risk factors that must be considered by people working under the project for achieving set goals and objectives. Lack of financial budget, less time, and lack of resources are some risk factors that may face by the researcher in this project work.

Resources

To attain the set aims and objectives of research it is necessary to use available labor, equipment, money, and time most correctly without doing wastages and pointless tasks. Time and money are the most important aspect of research work that must be used systematically.

P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for completion.

Project implementation plan

Project implementation plan aids the investigator to achieve set objectives and aims by showing the right way to complete the whole research work. It is a plan through which the researcher can achieve the best outcomes in the project.

Work break down the structure

Work breakdown structure is a great way that shows element deliverable and activity with estimated resources, timeframe, and cost that researcher needs to flow while implementing the research plan (Kukhnavets, 2016). The main purpose to use WBS in the research project is to reduce unwanted practices to a gathering of tasks.

(Figure: Work breakdown structure to identify talent retention startgies)

(Source: Kukhnavets, 2016)

Project schedule

Task	Start date	End date	time
Create a topic of research	21.10.2020	27.10.2020	1 week
Develop aims and objectives	28.10.2020	3.11.2020	1 week
Secondary research	4.11.2020	10.11.2020	1 week
Use primary research	11.11.2020	16.11.2020	1 week
Data analysis	17.11.2020	23.12.2020	1 week
Recommendation	24.12.2020	25.12.2020	2 days
Conclusion	26.11.2020	2.12.2020	1 week

Gantt chart

Gantt chart is the most popular way that is used in scheduling and planning of research study that shows task and activities against time.

Time	1 week	1 week	1 week	1 week	1 week	2 days	1 week
Task
Create a topic of research
Develop aims and objectives
Secondary research
Use primary research
Data analysis
Recommendation
Conclusion

Produce a comprehensive project management plan, milestone schedule, and project schedule for monitoring and completing the aims and objectives of the project.

In research work, it is important to develop the right project management plan according to which the researcher implements Research tasks and activities (Martinelli and Milosevic, 2016). It helps to estimate the required time, equipment, resources, labor, and cost that researchers need to achieve set aims and objectives. Milestone schedule provides an idea to the researcher that how much time should be implemented on one task to complete the research on time.

LO2

P4 Carry out small-scale research applying primary and secondary methods appropriate for meeting project aims and objectives.

Market research plays important role in gathering the right information and data to attain the set aims and objectives of the research. There are many methods available in the market but the most common and famous methods are primary and secondary that is used in almost all research projects. In this study both secondary as well as primary methods are used for collecting information about talent management strategies that are used by Mark and Spencer to retain and attract employees for long run.

A qualitative method is a secondary form of research that is used in this study in which various sources are used to gather data and information to complete the study (Sharon and Dori, 2015). Some sources are Books, online journals, newspapers, magazines, and articles that provide secondary data to gain information. It takes less time and effort to gather information about any topic. The biggest advantage of using this method is that it provides a wide form of information in less time, cost, and effort. But in this method, huge information is available that creates so much confusion, and sometimes researchers face the problem of accuracy that is the biggest disadvantage of this method.

The quantitative method is also used in this study that is the primary form of research in which researchers use questionnaires, interviews, and surveys, and case study sources to collect the right information (Kerzner, 2013). This method is beneficial to gather the right, accurate, latest, and reliable information about the selected topic that is the biggest advantage of this method. But this method takes so much time, cost, and effort to gather information and data for the Research that is the biggest disadvantage of this method.  

50 participants are selected through the Random sampling method for this research work to gather relevant data and information that will help to understand the use of talent management strategy within a business organization to retain and attract the best talent.

The questionnaire method is the primary form of Research that is used in this research work. This method is selected because it provides fresh data and reliable information that would help to reach set objectives.

In respect to perform significant advantages in business, it can be stated that there are different kinds of talent management strategies promoted to understand power with job description. In addition to this, continuous training and development opportunities in Marks and Spencer promoted to enhance desired results. Cultivate an honest career path established with talent management strategy to manage current and potential effectiveness. It is most essential consideration to promote competitive edge in business.

Questionnaire

Name: Age: Gender: 1 What recruitment strategies do Mark and Spencer use to attract the best talent? Online recruitment Use analytics and big data for potential talent 2 What motivational techniques are used by Mark and Spencer? Flexibility at the workplace Relaxed working environment Career development Reward policies Recognition 3 What are the training strategies used by Mark and Spencer to enhance employee performance? Training is done through staff to staff Voluntary training 4 What is the average employment duration for staff at Mark and Spencer? 1.23 years 2 years 3.2 years 5 What are the main reasons for high employee turnover? Career growth Wants to become a social media influencer Build company Can’t get promotion as per desire 6 How do Mark and Spencer ensure that they attract the right talent to the company? By using a unique recruitment strategy Smarter hiring process Social media recruitment plan Organize competition Employee referral program 6 Does Mark and Spencer provide a supported working environment? Yes No 7 do you think the recruitment process in Mark and Spencer is fair? Yes No 8 Does Mark and Spencer focus on the good working condition to retain talent for the long term? Yes No

The concept of using talent management strategies is all about the dedication that is applied by the company to attract, retain, and more significantly to develop the best-qualified workers in the large competitive market. Mark and Spencer design talent management strategies in such a way that maximizes the potential of existing employees and also help to attract new talent. According to Keller and Meaney (2017), this company uses many talent management strategies such as a unique recruitment process, positive working conditions, recognition, reward, good organizational culture, and great career growth opportunities. In such a large organization career growth opportunities for all employees can be very tricky so the management of Mark and Spencer make the promise of providing the necessary tool and does not make any big promises. The company uses a great talent management strategy that ensures that the best and most skilled employees are retaining and attracting talented candidates in the market.

Evaluate the accuracy and reliability of primary and secondary methods applied

There is huge information available on secondary sources like books, online articles, magazines, newspapers, and journals about the talent management strategies that are used by Mark and Spencer. This company keeps their staffs motivated by providing them different advantages and by offering them a positive and healthy work environment.

There are many research methods available in the market but most popular methods are used in most of the research work is primary as well as a secondary form of methods. Both primary and secondary methods are used to gather data about the use of talent management strategies in a company to retain and attract potential talent (Larson and Gray, 2013). As compared to the secondary method primary method provides more accurate, reliable, and correct data that helps to reach the right findings. In this research quantitative primary form of research will be used in which questionnaires are developed to gather the accurate information from selected participants.

For checking accuracy and reliability of collected data Delphi technique is used that is based on the principle that forecasts decisions approximately. In this research, the Delphi method is used where a panel of experts arrives at the final discussion after going through various rounds.

Critically evaluate the project management process and methods applied for gathering information and data collection

To avoid unwanted task and unnecessary Scheduling project management process play the role of the key element that is used by most of the researcher. This research, it helps to reduce the operational cost and avoid the unwanted task (Maylett and Wride, 2017). There are some strengths as well as weaknesses of the project management process which are as below:

The project management process help in completing a research study on decided time, resources, and cost and it also enhance the chance of attaining the best result. With the help of the project management process researcher can prioritize the task to ensure the correct use of time and resources. It is a plan that provides structure to researchers that helps them to complete the research in the most correct manner. For gathering the right information and data qualitative and quantitative methods are used that helps to gain in-depth knowledge about the selected topic of study. But the weakness of the project management process is that it complicates every task due to which many researchers face confusion.

The project management process aids the project manager to complete all required tasks and activities at the decided time and cost. It also aids the project manager to control the financial budget, time, and labor in the right way. In this work project manager used qualitative and quantitative techniques for collecting required data. With the help of quantitative data practical, latest and fresh information is gathered about talent management strategies that are used by mark and Spencer which is the biggest strength of this technique but it takes huge efforts, time, and cost that are disadvantages of this method. The qualitative technique is also used by a project manager that provide a wide range of data and information about the firm’s talent management strategies without putting so many efforts that are the strength of this method but it is difficult to identify the reliability and accuracy of collected data in this method which is the biggest disadvantage.

LO3

P5 Present findings and data using appropriate tools and techniques.

Quantitative Data analysis

1 What recruitment strategies do Mark and Spencer use to attract the best talent?

Options	Responses
Online recruitment	25
Use analytics and big data for potential talent	25

Analyses: As per the above-given responses 25 people believe that Mark and Spencer uses one recruitment strategies to attract the best talent whereas 25 people think that the company uses analytics and big data for potential talent.

2 What motivational techniques are used by Mark and Spencer?

Option	Responses
Flexibility at the workplace	10
Relaxed working environment	10
Career development	20
Reward policies	10
Recognition	10

Analyses: Mark and Spencer is a large organization that uses so many motivational techniques to retain and attract people. As per the above-given responses in which 10 people says that this company uses recognition technique, 10 people say reward policies, 20 people say that career development technique, whereas 10 people say that the company provides a relaxed working environment and 10 people say that Mark and Spencer uses flexibility as a motivational technique.

3 What are the training strategies used by Mark and Spencer to enhance employee performance?

Option	Responses
Training is done through staff to staff	30
Voluntary training	20

Analyses: 25 people say that Mark and Spencer provides training through employee to an employee to enhance their knowledge whereas 25 people say that voluntary training method is used by the company as training strategies to enhance employees performance.

4 What is the average employment duration for staff at Mark and Spencer?

Option	Responses
1.23 years	15
2 years	15
3.2 years	20

Analyses: As per the above graph 15 people say that the average employment duration at Mark and Spencer is 1.23 years whereas 15 people say 2 years and 20 people say 3.2 is the average employment duration.

5 What are the main reasons for high employee turnover?

Option	Responses
Career growth	20
Wants to become a social media influencer	10
Build company	10
Can’t get promotion as per desire	10

Analyses: In the above graph 20 people say there is lack of growth and progression for the long term that is the biggest reason of employee turnover in this company whereas 10 people say that Mark and Spencer provide great working condition and opportunity but they want to become social media influencer so they leave their job, and 10 people say most of the employees may leave Mark and Spencer because they want to build their own company or business and 10 people say that employees leave Mark and Spencer because they can't get promotion as per desire.

6 How do Mark and Spencer ensure that they attract the right talent to the company?

Option	Responses
By using a unique recruitment strategy	20
Smarter hiring process	10
Social media recruitment plan	10
Organize competition	5
Employee referral program	5

Analyses: In the above-given graph it can be seen that 20 people give their response to support that Mark and Spencer uses a unique recruitment strategy to ensure that they attract the right talent to the company whereas 10 people say that management uses a smarter hiring process, 10 person says that social media recruitment plan is the best way to ensure that firm is attracting the right talent and 5 person says that Mark and Spencer organize a competition to attract the right talent and 5 people say that this organization adopts employee referral program to hire the best talent at low cost.

6 Do Mark and Spencer provide a supported working environment?

Option	Responses
Yes	40
No	10

Analyses: In the above graph 40 people say yes to support the statement that Mark and Spencer provides a supported working environment to their employees to retain them whereas 10 people say no for the same statement.

7 do you think the recruitment process in Mark and Spencer is fair?

Option	Responses
Yes	30
No	20

Analyses: In the above graph 30 people say that Mark and Spencer uses a fair recruitment process whereas 20 people say no for the same statement.

8 Do Mark and Spencer focus on the good working condition to retain talent for the long term?

Option	Responses
Yes	40
No	10

Analyses: In the above graph 40 people say that Mark and Spencer focuses on the good working condition to retain talent for the long term whereas 10 people give a negative response for the same.

Mark and Spencer use a unique recruitment process for improving the quality of employees hired and to attract the best talent from worldwide (Maylett and Wride, 2017). For acquiring the best talent and retaining qualified employees it is important for management to maintain great leadership culture and develop employees’ opportunities (Micik and Eger, 2015). Mark and Spencer identify that management needs to follow a great recruitment process for hiring the best talent and to retain employees for the long run. 

P6 Communicate appropriate Recommendations as a result of findings and data analysis to draw valid and meaningful conclusions.

Based on quantitative research the first recommendation is that Mark and Spencer needs to explore new methods and strategies to attract the best talent from all around the world at low cost. This company already using a digital platform to regularly check big available data and analytics to select the best candidate but to attract more best talent HR should develop talent competition at the online platform so that a large number of people can give the best (Keller and Meaney, 2017). In this way, Mark and Spencer will able to get more choices of the best talent who can contribute more to the growth and success of the firm.

The second recommendation is that Mark and Spencer should develop some new progression process and opportunity plan for the development and growth of employees because many employees leave the firm because they did not get the best promotion opportunity. To retain employees for the long term this company should focus on internal feedback and survey method that will aid to identify employee's needs, problem, and expectations from Mark and Spencer.

Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to support and justify recommendations.

In this research, both quantitative as well as quantitative methods are used that helped to gain in depth understanding and knowledge about the selected topic of study. With the help of research strategy, it becomes easier to understand different motivational techniques and talent management strategies used by Mark and Spencer to retain and attract potential talent (Graen and Grace, 2015). By using different methods gathered information and data is analyzed that helps to achieve aims and objectives. It is important for the investigator to select the best research technique and tools according to the research type for authenticity and accuracy. With the help of quantitative data, few recommendations are made that will aid to improve the performance of Mark and Spencer.

This research is carried out in the most effective manner that helped to gather quality information and reliable or accurate data. Delphi technique is also used in this research work that helps to check reliability, authenticity, and accuracy of collected information from qualitative and quantitative methods.

LO4

Reflect on the value of undertaking the project to meet stated objectives and own learning and performance.

To achieve the best result in research it is important to set the right aims and objectives because they show the right path to complete the Research work. I analyzed that research methods and strategies are most important for researching the right way. By gathering all the data and information I have analyzed that talent management strategies play important role in attracting potential talent and to retain employees for the long term. In today's times, it becomes essential for not only Mark and Spencer but for all types of organizations to give high focus on talent management strategy to attract and retain the best talent and skilled employees (Martin and Ottemann, 2016). This research work helped me to understand different motivational techniques that Mark and Spencer uses to retain its best-skilled employees and to attract the best talent from all over the world. Mark and Spencer provides flexibility at the workplace, a relaxed working environment, and various career development opportunities and uses attractive reward policies as a motivational technique to retain its employees. To ensure that the company is attracting the right talent Mark and Spencer uses a unique recruitment strategy, a smarter hiring process, an Organize competition, and an employee referral program that also helps HR to recruit the best talent. With the help of quantitative and qualitative research data, I have examined that every year Mark and Spencer receives large number of applications and resumes in which only about few would actually be selected by management. Company select best talent from available million of applications that comes from all over the world (Micik and Eger, 2015). Mark and Spencer set a high bar of quality to attract and retain the best talent for the growth and development of the business. By doing this research I have learned how time, resources, labor, communication, equipment, and cost play a crucial role in achieving the best outcomes that will be helpful for me in a future research project.

The project management process enhances the chances of accomplishing the set aims and objectives successfully and also ensures that the allocated financial budget and resources use efficiently. The biggest advantage of project management is that it aids to set the scope, budget, schedule, and prioritize the task accurately to achieve the best result. It is also a complex procedure with different tasks in which several times the researcher gets confused with multiple activities that are the biggest disadvantages of the project management process.

Evaluate the value of the project management process to meet stated objectives and support its own learning and performance.

In achieving set objectives and aims both quality research and project management process played a very crucial role. In this research project management process aids to determine the key elements of improvement areas to reach the right findings (Hejase, et. al., 2016). The project management process helps to estimate the right need for resources, cost, time, and equipment to complete the whole Research work. This research study helped me to gain research experience that I can use in other research in the future. It also helped to learn the importance of cost and time aspects in research projects to achieve the best result. It is essential to gather the right and reliable data for the right finding and to reach the right conclusion. Yes, the project management process is very helpful and beneficial in this project as it aids the project manager to concentrate on all tasks and activities involved in research to achieve set aims and objectives. This research also helps to enhance learning to known deeper about the talent management strategies of Mark and Spencer. By going through this research in-depth knowledge is gained and it also helped to learn how research should be conducted in the correct way to achieve the best result.

Critically evaluate and reflect on the project outcomes, the decision-making process, and changes or developments of the initial project management plan to support the justification of recommendations and learning during the project.

Based on collected data various recommendations are made for the improvement of the talent management strategy of Mark and Spencer and also to improve future research.

The organization can easily improve its performance and sustain itself in a tough competitive marketplace by using motivational techniques that will help management to retain skilled employees for the long term. But to make its talent management strategy more effective Mark and Spencer should give more focus on cultural and employee relations that will help the company to maintain positive work conditions.

M3 Tools and techniques to assess accuracy and validity

By doing this research various facts and points are highlighted that shows talent management strategy is very important to retain and attract potential talent towards the company. The researcher should use the right tool and techniques in the project management plan to attain the best outcomes (Schuler, 2015). Several times Research methods provide wrong facts, data, and information that impact the whole project work so it is essential to have proper knowledge about research strategy. Quantitative and quantitative data help to made recommendations for improvement in Mark and Spencer to retain and attract potential talent through which the company will improve its performance in the future.

Conclusion

By doing this report it has been concluded that in today's world it is a tough job for an organization to retain and attract the best talent. Mark and Spencer is a multinational company that offers a wide range of products and services to its customers. This company uses unique recruitment and motivational techniques to attract and retain employees that help to improve its performance and profit. With the help of quantitative and quantitative research various information has been gathered in this assignment that helps to analyze that Mark and Spencer gives high focus on flexibility, compensation, benefits, good communication, and relaxed working environment strategies to retain employees for the long term.

References

Graen, G. and Grace, M., 2015. New talent strategy: Attract, process, educate, empower, engage and retain the best. Society for Human Resource Management, pp.23-34.

Hejase, H.J., Hejase, A.J., Mikdashi, G. and Bazeih, Z.F., 2016. Talent Management Challenges: An Exploratory Assessment from Lebanon. International Journal of Business Management & Economic Research, 7(1).

Keller, S. and Meaney, M., 2017. Attracting and retaining the right talent. McKinsey Global Institute study.

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Kukhnavets, P., 2016. How to Improve Productivity with a Work Breakdown Structure? [Online]. Ganttpro. Available at: https://blog.ganttpro.com/en/how-to-create-a-work-breakdown-structure-wbs-with-project-planning-templates/. [Accessed: 21 November 2020].

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Marshall, C. and Rossman, G.B., 2014. Designing qualitative research. Sage

Martin, T.N. and Ottemann, R., 2016. Generational workforce demographic trends and total organizational rewards which might attract and retain different generational employees. Journal of Behavioral and Applied Management, 16(2), p.1160.

Martinelli, R.J. & Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.

Maylett, T. and Wride, M., 2017. The employee experience: How to attract talent, retain top performers, and drive results. John Wiley & Sons.

Micik, M. and Eger, L., 2015. Recruiting talents with social media. ????????? ???????? ?????????, (3), pp.266-274.

Schuler, R.S., 2015. The 5-C framework for managing talent. Organizational Dynamics, 44(1), pp.47-56.

Sharon, A. and Dori, D., 2015. A Project–product model-based approach to planning work breakdown structures of complex system projects. IEEE Systems Journal, 9(2), pp.366-376.