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Present business environment is becoming complex and competitive day by day and it is important for the businesses to focus on managing the human resource in an effective manner. Businesses needs to focus on having an effective talent management in the organisation which can help them in attaining and retaining the employees and also developing their skills and motivating them to deliver high quality work to the organisation(Poisat, et. al. 2018). In the present report the researcher is preparing an research report on talent management for one of their client Tesco, which is an multinational company operating in the retail industry.
Tesco is offering wide range of products and services to the customers belonging to different nations. The company needs to have effective human resource which can help them in offering better services to their customers as the company is operating at through both online and offline platforms. Talent management is important for Tesco as they need to have effective employees in the organisation for leading the firm towards success. The researcher is an Research Assistant in a research firm McLeod and Partners and in this report the researcher is conducting an research on the talent management strategies of Google. In this report the research would conduct both primary and secondary research for providing better knowledge to the case company related to the research topic.
AIMS AND OBJECTIVES
Aim:
The aim of this research study is to analyse the different talent management strategies of the best companies.
Objectives:
To understand the concept of talent management in detail.
To analyse the different talent management strategies used by the successful businesses.
To gather better knowledge related to the use of different talent management strategies for managing the human resource effectively.
PROJECT MANAGEMENT PLAN
Scope:
Talent management had become important for the businesses in the recent decades for gaining competitive advantage over others and for having better and highly skilled employees in the organisation. This project is having an great scope for the case company as it would Tesco in understanding that how the successful multinational companies are using the talent management strategies and this will help them in managing their employees. Better talent management is important for the businesses and this project would offer better knowledge related to it to the case company, to all the other businesses and to the researcher as well.
Work Breakdown Structure:
Budget:
For this project the estimated cost is 400 £.
Risk:
In this project there are different risk factors which can create an obstacle while doing this project. As the researcher is conducting both secondary and primary research method then they are chances that the researcher might not get the permission to conduct the primary research on a company and they might not get permission to conduct interviews with their employees or manager. Along with this the other risks that might be faced in this project are the communication risks, resource risks, time risk and cost risks.
Resources:
In this project the resources required by the researcher are time, cost, books, journals, magazines, newspapers, internet, World wide web and some of the resources in this project would come from the questionnaire surveys or interviews.
Communication:
In this project the researcher would use the social media platforms for communicating with the respondents for conducting the questionnaire survey for collecting the primary data.Along with this the researcher will use email and other online methods for communicating with the different stakeholders.
Gantt Chart:
TASK
WEEK 1
WEEK 2
WEEK 3
WEEK 4
WEEK 5
WEEK 6
WEEK 7
WEEK 8
Developing project plan
Selecting and writing the research methodology
secondary data collection
Writing the literature review
Conducting the primary research
Interpretation of the questionnaire survey
Analysing the data
Documenting the final report
RESEARCH METHODOLOGY
Research methodology is an important part of the research study. This section of the research provide better knowledge related to the different methods and techniques used by the researcher for conducting the research in an systematic manner(Snyder, 2019). The different sections of the research methodology are explained below such as:
Research Design
The process which is used by the researcher for integrating all the different components of the research study. There are different types of the research design but the researcher needs to select the appropriate one according to the aims and objectives of the study. In the current study the researcher is using exploratory research design in which the researcher aims at exploring all the different possibilities which would help them in understanding the different concepts related to the research study in detail(Basias, and Pollalis, 2018).
Research Approach
The different plans and procedures used by the researcher while conducting the research study. There are two types of research approach which are inductive and deductive(Miklian, and Hoelscher, 2018). In the present study the researcher is focusing on using the inductive research approach according to which the researcher would focus on aims and objectives of the research study while collecting the data and analysing in the research study.
Research Method
Research method is referred as the method which is being used by the researcher for collecting and analysing the data. There are two different types of research methods which are qualitative and quantitative research method and the researcher would use qualitative research method and will collect the qualitative data in this study. For collecting the qualitative data in this study the researcher would conduct the questionnaire survey with the managers and employees of Google.
Data Collection
Data collection is being referred as the processes which is being used by the researcher for collecting the data for the research study. There are two types of data collection methods such as primary data collection and secondary data collection. In the present research study the researcher is using mixed method for data collection and the researcher would collect both primary and secondary data for the research study. For collecting the primary data the researcher would conduct an online questionnaire survey with the managers and the employees of Google for analysing that what are the different strategies used by the company for talent management. On the other hand for collecting the secondary data the research would collect the information from different literature sources and the research would use journals, articles, books and other literature sources. The researcher is using both the methods for creating more authentic and detailed information and data related to the research study and conducting an high quality research.
Data Analysis
Data analysis is being referred as the method which are being used in the research study for analysing the collected data. There are different data analysis methods which can be used by the researcher for analysing the data. In the present research study the researcher would focus on analysing the collected data by using the thematic analysis. In thematic analysis the data collected will be analyses and represented as different themes which would help in understanding the results in an effective manner(Terry, et. al. 2017).
LITERATURE REVIEW
With the increasing competition in the business environment talent management had gained a lot of importance for the businesses(Khilji, and Schuler, 2017).In the recent years businesses are focusing on having effective employees who can deliver high quality work to the organisation and for this the businesses are focusing on having effective talent management strategies. Aguenza, and Som, (2018) had mentioned in their study that talent management is referred as the process of attracting and retaining the employees the highly skilled employees and also managing the human resource in an effective manner and motivating them enhance their performance within the organisation.It can be said that it is important for the businesses to have effective talent management strategies which can help them in better talent management in the organisation. In support to this the study of DeNisi, and Murphy, (2017) had also mentioned that the businesses need to have better strategies for recruitment, performance management, training and related to the employee motivation as these strategies can help then businesses in better talent management.
In the view of Chahal, and Poonam, (2017) businesses needs to focus on employees retention for effective talent management in the organisation. Retention of the talented employees in the organisation is important for the businesses as the human resource is an important resource of the company and needs to be retained. If the organisation in having the right pool of talent then it will definitely led the company towards success and development. The businesses needs to focus on managing the employees in an effective manner and should focus on satisfying the employees with their jobs so that it can help in retaining the employees. In support to this Ahmad, et. al. (2019) had mentioned in their study thatbusinesses needs to focus on having effective rewards system and should focus on offering different financial and non-financial rewards to the employees on the basis of their performance in the firm which would help them in talent management. It can be said that effective talent management strategy needs to include better reward system for the employee which can motivate the employees and enhances jobs satisfaction as well which is having an positive impact on better talent management in the organisation.
Stojanovska, and Mitrevski, (2020) had mentioned in their study that businesses needs to understand the importance of talent management in the present business world and on the basis of it they should focus on developing better relations between employer and employee which promotes better human resource management. The leaders and the managers of the company should have better relations with the employees of the company which would help them in understanding the employees in an effective manner.
According to the study of Tyagi, et. al. (2017) during the talent management the businesses needs to develop an organisational culture which should support cross culture workforce. In the present business world the diversity in the workforce had increased to a greater extend and it has become important for the businesses to take care of the cultural values of the employees in the workplace. Businesses needs to have effective organisational culture which support the business in talent management.
PRIMARY RESEARCH
In the present study the researcher had conducted the questionnaire survey with the employee and managers of Google for analysing that how the company is using different talent management strategies. This questionnaire is being send to the employees of the company through e-mails and then they have filled this questionnaire. The responses of the employees are being mentioned below such as:
Question 1:Do you think that the company is having effective talent management strategies?
Yes (B) No (C) Moderate
Responses: 45 employees of the company had agreed that Google is having effective talent management strategies and 5 employees said that the company is having moderate talent management activities.
Question 2:Are you satisfied with the pay offered by the company?
Highly Satisfied (B) Satisfied (C) Not Satisfied
Responses:In this survey it is being found that majority of the employees of the company around 47 employees mentioned that they are highly satisfied with the pay offered by the company.
Question 3: Are you satisfied with the employee benefits offered by the company?
Highly Satisfied (B) Satisfied (C) Not Satisfied
Responses: It is being found that majority of the employees around 40 out of 50 are highly satisfied with the employee benefits and 10 are satisfied with the employee benefits.
Question 4:Is the company having qualified and skilled employees in the company as per the job description?
Agree (B) Strongly Agree (C) No
Responses: It is being found that 35 employees of the company agreed that the firm is having qualified and skilled employees in the company as per the job description.
Question 5: Do you think that the company is motivating the employees effectively?
Agree (B) Strongly Agree (C) No
Responses: Majority of the employees strongly agreed that the company is motiving the employees effectively.
Question 6:Are you having better relations with your employer and other employees in the company?
Yes (B) No
Responses: 40 employees said Yes and 10 employees said no.
Question 7: Do you think that the company is having effective rewards system which is helping them in talent management?
Yes (B) No
Responses: 47 employees said Yes and 3 employees said no.
Question 8:Do you think that the company is having effective employee retention policies?
Agree (B) Strongly Agree (C) No
Responses: 35 employees strongly agreed, 10 employee agreed and 5 employee did not agreed on this.
Question 9: What you think that how effectively the company is managing talent in the organisation? Give review.
Responses: The organisation is having better strategies related to the performance management, employee retention, job satisfaction, better recruitment and employee motivating which is helping the company in managing talent in the organisation in an effective manner.
Question 10: Do the company is having effective organisation culture which helps them in managing the employees?
Responses: Majority of the employee said that the company is having effective organisation culture which promotes and support culture diversity and treat all the employees equality and in ethical manner which is helping the company in better talent management.
Question 11: How the company is attracting the employees?
Responses: The employees of the company mentioned that the organisation is having effective recruitment procedure which is helping the company in attracting the skilled employees. Along with this the Aqui-hiring strategy used by the company is also attracting them in attracting the best employees as per the job description.
Question 12: How the company is retaining the employees?
Responses: Employee mentioned that the high pay, effective organisational culture, employee satisfaction and better motivational strategies are helping the company in retaining the employees.
DATA ANALYSIS
Employee retention and Talent management
Retention of the employees is an important part of the talent management strategies of the organisations. Google is focusing on retaining the employee by offering them high pay and better benefits which can help them in being satisfied with their jobs and the company is also focusing on satisfying all the needs of the employees mentioned by the Maslow’s theory of needs. Retaining the talented employees had become important for the businesses in the present business world due to increased competition in the industries.
Better Recruitment Strategy
For having the talented employees in the organisation it is important for the businesses to focus on having better recruitment strategies which can help them in recruiting the best employees of the company. Google is having an Aqui-hiring strategy for recruiting the employees which is helping them in having highly skilled and knowledgeable employees in the organisation. Along with this the businesses needs to focus on having well defined job description and should hire the employees on the basis of it only then it would help them in having better employee as per the job roles they are required to pay.
Employee motivation and talent management
Businesses needs to have effective strategies for motivating the employees of the company as for talent management it is important for the businesses to have highly motivated employees in the organisation(Pandita, and Ray, 2018). Google is focusing on offering better pay and having effective reward system which is helping them in motivating the employees to deliver high quality work in the organisation.
Impact of Organisational culture on talent management
Culture of the organisation plays an important role in the talent management of the organisation and businesses needs to focus on having effective strategies which can help them in developing them in having an positive organisational culture. Google is having effective strategies and is promoting better diversity and also promoting equality in the organisation for managing the employees in an effective manner and for having better talent management in the organisation.
DISCUSSSION
Talent management is considered to be one of the most important things for the businesses in the present business environment. Companies operating in all the diverse industries needs to focus on developing effective talent management strategies which can help them in having an effective workforce in the company which can deliver high quality work to the organisation.There are different factors which are having an impact on the retention of highly skilled employees in the organisation(Claus, 2019). In the primary and secondary research, it is being found that businesses needs to have better strategies for employee motivation, employee retention, better recruitment, effective reward system and job satisfaction which can help them in satisfying the employees with their jobs. Along with this the culture of the organisation needs to be effective then also it would help the businesses in managing the talent in an effective manner. It can be said that businesses needs to focus on having better strategies which can help them in proper recruitment and better retention of the employees in an effective manner(Whysall, et. al. 2019).
CONCLUSION AND RECOMMENDATION
In the present business worldmanaging the employees in an effective manner had become important for the businesses. Thisreport had mentioned that how Google is focusing on talent management and what are the different talent management strategies of the company. On the basis of this report it can be said that the businesses needs to focus on having an effective talent management strategies which involved employee motivation strategies, better employee retention policies and effective reward system which can help them in effective talent management. It can be recommended that the case company Tesco should focus on using the strategies which are being used by Google for employee retention and this would help the case company in attracting and retaining the highly skilled and knowledgeable pool of employees.
References
Aguenza, B.B. and Som, A.P.M., 2018. Motivational factors of employee retention and engagement in organizations. International Journal of Advances in Agriculture Sciences.
Ahmad, I., Danish, R.Q., Ali, S.A., Ali, H.F. and Humayon, A.A., 2019. A comparative study of banking industry based on appraisal system, rewards and employee performance. SEISENSE Journal of Management, 2(1), pp.1-11.
Basias, N. and Pollalis, Y., 2018. Quantitative and qualitative research in business & technology: Justifying a suitable research methodology. Review of Integrative Business and Economics Research, 7, pp.91-105.
Chahal, H.S. and Poonam, 2017. Study of organizational culture, employee turnover and employees' retention in hospitality sector. Pacific Business Review International, 9(11), pp.119-125.
Claus, L., 2019. HR disruption—Time already to reinvent talent management. BRQ Business Research Quarterly, 22(3), pp.207-215.
DeNisi, A.S. and Murphy, K.R., 2017. Performance appraisal and performance management: 100 years of progress?. Journal of applied psychology, 102(3), p.421.
Khilji, S.E. and Schuler, R.S., 2017. Talent management in the global context. The Oxford handbook of talent management, pp.399-420.
Miklian, J. and Hoelscher, K., 2018. A new research approach for Peace Innovation. Innovation and Development, 8(2), pp.189-207.
Pandita, D. and Ray, S., 2018. Talent management and employee engagement–a meta-analysis of their impact on talent retention. Industrial and Commercial Training.
Poisat, P., Mey, M.R. and Sharp, G., 2018. Do talent management strategies influence the psychological contract within a diverse environment?. SA Journal of Human Resource Management, 16, p.10.
Snyder, H., 2019. Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, pp.333-339.
Stojanovska, V. and Mitrevski, V., 2020. THE ROLE AND IMPORTANCE OF TALENT MANAGEMENT IN ANY ORGANIZATION.
Terry, G., Hayfield, N., Clarke, V. and Braun, V., 2017. Thematic analysis. The Sage handbook of qualitative research in psychology, pp.17-37.
Tyagi, S., Singh, G. and Aggarwal, T., 2017. Talent management in education sector. International Journal on Cybernetics & Informatics (IJCI), 6(1/2), pp.47-52.
Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of Industry 4.0. Journal of management development.
