What Talent Strategies Do The Best Companies Use To Attract People

Qualification - Higher National Diploma in Business

Unit Name - Managing a Successful Business Project

Unit Number - Unit 6

Unit Level - Level 5

Assignment Title - Talent Management

Learning Outcome 1: Establish project aims, objectives and timeframes based on the chosen theme;

Learning Outcome 2: Conduct small-scale research, information gathering and data collection to generate knowledge to support the project;

Learning Outcome 3: Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the evidence findings and/or analysis;

Learning Outcome 4: Reflect on the value gained from conducting the project and its usefulness to support sustainable organizational performance.

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Talent Management: "What Talent Strategies Do The Best Companies Use To Attract And Retain People?"

Devise a project management plan to map out how you intend to meet the project

Solution:

A) Introduction
Talent management is an effective process that an organization uses to attract and retain high quality and talented employees to their workplace in order to enhance and increase productivity. The present study will focus on the identification of the talent management strategies used by the Coca-Cola. Which is the selected organisations for this study. Both primary and secondary researches are conducted in this study. In that way the research question that is going to be conducted in this research is: "What talent strategies do the best companies use to attract and retain people?"

Background of the research
Talent management is one the useful perspective followed by the HR managers of an organization in the area of recruiting new people and managing talented one (Whysall et al. 2019). However, in that way when talent of employees is not considered as the useful one it may result in organizational performance issues. Coca-Cola is an entirely beverage company that is pursuing services and marketing around 200 countries in the world (Coca-colacompany.com, 2021). The company has the total numbers of employees around 700,000 that are helping and bringing their economic growth. In addition, communication will be an effective tool for talent management that will ensure to fulfil needs of individuals. Along with providing power to the employees, talent management is useful to make good sound decisions. Digital transformation is one of the major issues faced by the Coca-Cola by which the human resources surrounding of the company has become completive.

In collecting data for your business analysis, clearly show what kind of methods will you use, e.g. by qualitative and quantitative research methods etc., and develop your arguments what are the benefits in using primary data & secondary data collection in doing your research in such two methods

Solution:

B) Project planning

Project aim
"To identify effectiveness of talent management to attract and retain people"- Coca-Cola and case study

Project objectives
• Understanding concept of talent management
• Identification of issues that the company is facing in the retain and attract people
• Identification of the talent management strategies used by the Coca-Cola company
• Recommended strategies that will be effective to the company to attract and retain new people

Project management plan
Project management plan is to develop a necessary structure to carry out the project successfully. The project management plan will be useful to assign the objectives of this specific job role. In order to develop this project effectively several stages are going to be mitigated in order to complete the project objectives and mitigate the project aim, which is to identify the effectiveness of the talent strategies to attract and retain people.

Cost
Cost of the research has been carried out with several factors and these are identifying scope of the research, project procurement, data collection method and procedures, project control and many more in order to develop effective research. These areas have been developed with the required budget of the project. In order to have a better control cost the project scope, deliverables, and risk have been stipulated with timelines.

Scope
During the conduction of the research, the scope of the research has been established that is related to the field of talent management. Here it has been identified that the research will be effective to analyse the effectiveness of telnet management strategy that are effective to the talent management program. The study of the identification of talent management will allow organizations to adopt talent management procedures and strategy helpful to increase organizational productivity. Along with that, that project management plan is effective and will assist to have a long term talent management program for a business. This is the best perspective to adopt positive success in an organizational performance. This particular study is based on the talent management strategy of the Coca-Cola Company and will ensure to have scope on the development of project management programs. In addition the scope of this project can be it will help to develop project management programs for an organization that is facing issues in talent management.

Timeline
Time is one of the essential aspects to be followed while accomplishing a project. Accomplishing a project will ensure if the project is successful or not and along with that it helps to achieve positive success. According to the previous knowledge, the period for the project has been set for 6 months to be completed. The timeframe has been framed from 1st April to 30th October 2021.

Risk
This project management plan is willing to mitigate the talent management issues and risk in the Coca-Cola Company. Hence, the risk assessment is the prior criteria to be followed before developing the project management plan. Here it can be said that organizational risk can be carried out by the employees as the form of cultural barriers and rising of conflict in the workplace.

Resources and deliverables
Several kinds of research have been used in this project. Particularly, the project has involved resources such as material, technological, human and capital resources.

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Project management life cycle
As an essential part of the project, the project manager and project team ought to share a goal which is to carry out knowledge about the talent management strategies of the Coca-Cola company. In order to set a standard to the project, the paper is going to follow three phases in order to mitigate the agenda of the project. Through taking out these three phases from beginning to the end of the project is going to be accomplished and combine the phases can be called as the "project life cycle".

Initiation
It is the phase of the project management plan, where the research area of the project has been identified which is talent management. Along with that the background study on talent management and its evaluation have been done in this phase. Market research the most essential task has been filled in this phase of the project life cycle.

Planning
The second phase of the project life cycle is the phase, where the aim of the research has been developed along with the objectives of the project. Along with that, in this phase the scope of the research has been identified. Project budget, timeframe, risk assessment, resource planning have been structured in this phase. Work breakdown structure has been made in these phases which aim is to develop defining the project management plan clearly.

Execution
The second last of the project's life cycle includes the required activities in the project along with the track of the project. Along with that, the corrective measures of the activities have been demonstrated and evaluated.

Closure
The last phase of the project life cycle that emphasis realisation on the final deliverable of the project that is effective to have the idea on the effectiveness on the project outcome. Through the analysis of the entire project, this phase has been followed to provide structural knowledge on the talent management and its effectiveness to retain and attract people.

Work breakdown structure
Here the project Work Breakdown Structure is to be set as an effective tool and in the structure; all the activities of the project management plan have been demonstrated. The whole project has been scheduled properly in order to monitor and accomplish the project accordingly.

Gantt Chart
The Gantt Chart has been the effective tool for this project that has developed different aspects and activities included and flowed to accomplish the project. With this tool, the research ensures to have needs and each activity and complete them within time.
Planning: The planning stage of this project has been involved the stages such as developing project aim and objectives along with the budget plan. In order to be to have specific structure and guideline for the project WBS structure and Gantt chart have been developed in the structure.
Initiation: The second phase of the project has been involved multiple tasks such as identification of the research area and conducting a market research.
Execution: The third phase of the project management where the project planning has been conducted with multiple of activities along with tracking and measuring activities.
Closure: The last stage of the project management where realisation and analysing of the research mistakes have been acquired. In the last stage, the final submission of the project has been performed.

Evaluation of the project management plan
In order to accomplish the project aim the paper has followed the poem specific guidelines and activities along with the effective and required timeline. Through having and following the required budgets guide, risk assessment study, access to finance, relevant resources and other essential materials it has been possible to complete the paper within time. However, some issues have been faced while completing the research. As an example, the timeframe development has been made based on the assumption and at a certain point, there are some issues that have been faced in the timeline. Another issue has been identified as the lack of opportunity to have access to the organizational talent management performance and strategies.

- Collate our research and analyse your findings
Produce and present the business case including an evaluation of tools used to gather research and data to justify your recommendations for implementing wellbeing initiatives

Solution:

C) Methodology

Primary & secondary research
This study has covered a small-scale research on the workplace talent management program and strategy of Coca-Cola and Nike. In this purpose, the paper has been conducted in order to have access to the organizational talent management program and strategies of these organizations. The responses from the survey have been enlisted and tried to analyse with the aim of the research. In that way, the paper has demonstrated the form of talent management that these organizations are following. Along with that, the search helps to analyse the effectiveness of the talent management program and strategies to attract and retain best talent.

Communication
It is necessary to follow formal and informal communication processes in order to develop the talent management project plan. Communication is one of the essential processes to accomplish a project, as it is helpful to get access in the several areas related to the research aim. Along with that, being professional development assistance, it was required to build and develop better communication processes.

Communicate with managerial level:

Looking to take a step up towards a communication is helpful find the objectives that have been set for accomplishing the research. In order to communicate with the personnel of the managerial level this steps has been followed:
• Highlight scenarios with managerial level
• Showcasing ability to stay calm & collected
• Proving and being committed to the management track
• Situational, hypothetical and behavioural communication
• Along with the above criteria body language counts
Communicate with related staff colleagues
• Listen actively
• Build and earn trust and technology etiquette
• Offer constructive criticism
• Consider communication preference
• Communicating is relevant to them

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Findings & analysis

For Quantitative
In order to analyse the talent management strategy of Coca-Cola and Nike a secondary research has been developed. On the other hand, the primary research has been conducted in the field of four sectors along with the employees who are related to the areas of organizational talent management. As per the conducted survey it has been seen that, here about 60% of them responded that talent management is effective to retain and attract talented human resources to an organization. In that way it can be said that both the organization it is needed to accomplish the best talent management strategies in order to retain and attract best talent for the organizational development (Collings et al. 2019).

Table 3: Survey result

The following questions have covered the area such as the effectiveness of talent management in order to develop and increase organizational development and productivity. In this scenario, it has been seen that about 80% of the respondents have been ensured that talent management has a strong presence on the organizational productivity. Hence, it can be said that, it is needed to develop an effective talent management programme in order to develop organizational development and its productivity (Van Zyl et al. 2017).

Table 4: Survey result

The conducted area of the conducted research has been followed by the satisfaction level of the respondents to the areas of their organizational strategies. It has been seen that about 30% of the respondents are not satisfied with the strategies that their organization is following and it may have an effect on the working environment of their companies and sectors. In that way, it may conclude that talent management is heavily effective to the work satisfaction level of the employees (Barkhuizen et al. 2017).

Table 5: Survey result

For Qualitative

Talent management is useful to promote talented people and retain them for a long time as well as possible. Productivity increment of an organization heavily depends on the function of talent management who play different roles in the organizational performances (Poisat et al. 2018). In the secondary research, the paper has identified talent management practices and issues in the working environment Coca-Cola and Nike. As per the conducted secondary research, it has been identified that the talent management of the company is based on the purpose, which is collecting and retaining best employees to their service areas. As a manufacturing and marketing organization, talent management strategy of the company depends on the both output and input areas of the company. It is essential to the Coca-Cola Company to build a strong communication chain in order to ensure to have best telnet management strategies (Mihalcea, 2017). Besides, the economy is facing new challenges as the taste of the consumers has been changed and it has been effective to the revenue of the company. As a new human resource management issue the company has been faced is that, in the project at Costa Rica the company has been faced with issues with new language. In that way cultural boundaries have been one of the effective challenges to the company. On the other hand, talent management of Nike relies on the strategy to attain global talent from any country. Along with that, unleashing human potential and helping employees is one of the effective talent management strategies of the company in order to attain global talent (Distelhorst et al. 2017). The mission of the company is to bring innovation to every athlete around the world and it has given a positive image to the brand.

As per the investigations reports there are certain delegations have been the choice of the Amazon is potentially poor quality products. However, there are other statements are that these are probably the fake news from its competitors. However, there are numbers of customers who are arguing that the brand is continuously providing poor quality products. As per the reports of by the Seattle News the turnover rate of front line workers are about double where the turnover rate the small and medium size workers is not up to the mark (Seattletimes.com, 2020). It has been found that less application of the retention program towards the back front workers has lead to have this condition. In that way a question has been arrived that, the company about the role of automation. As per further reports, hiring and training replacement workers was not that effective that the company is having from past five years. The current figure of the small workers are less in number. As per the review of the Amazon's workers' feedbacks, increasing productivity of the company is linked to the customers' choice and needs. However, they are less thoughtful towards the needs of the needs of the workers and employees. It has been found that Amazon is less responsible and harsh, unforgiving from inside when any question comes arise about the filed workers of the company. Recently New York Times report has been stated that, there are several restrictions the company have been set which is against the ethical laws. Last year the company has been offered a new policy on the in order to provide employees chance on the decision and discuss options. As the company has been stated this will provide employees right while being fired from the organization. However, there are allegation that, teh policy is just a showcase and there are no such real applications of the policy.

Secondary research
In order to develop effective small-scale research it is important to follow both qualitative and quantitative methods (Rahman, 2020). Along with that, this method is effective to hold the base of the project and evaluate information in order to accomplish the project management plan. In order to conduct the required small-scale research, secondary research has been done in order to develop the effective analysis on the research area and provide relevant suggestions to it (Vossen et al. 2018). A survey has been conducted with the responses of the employees and personnel involved with the talent management programme and strategies of the Coca-Cola Company. Nike is an American multinational organization involving design, manufacturing, development and worldwide sales and marketing accessories, footwear and apparel, equipment and services (Nike Company Blog.wordpress.com, 2021). The company has more than 44,000 employees worldwide and the values of the company is around $19 billion (€17,5 billion). To be specific, the qualitative method has been used to collect relevant research data regarding talent management and combines benefits and issues with it. On the other hand, quantitative research methods have been used to acquire relevant and required statistical and computational data and techniques involved with the organizational talent management areas. While conducting the survey the quantitative method has been followed and survey has been performed with the 25 respondents related to the talent management strategy and program.

Conclusion

This study will discuss the talent management process of Coca-Cola with the knowledge of their talent management strategies. In respect to consideration, the study has been demonstrated talent management is the most important step towards the organizational growth. Attracting and retaining new and best talent to the organizations becomes a supplier by effective talent management strategies. This paper has demonstrated effective solutions that can be effective to achieve business goals.

Recommendations
• The Coca-Cola Company needs to focus on their leadership strategies that will lead the organizational leaders to magnate talent in the organization and lead them to attract the best talent to the company.
• It is needed to direct staff members to assess effective function in a systematic manner.
• As a manufacturing company, Coca-Cola needs to rely on environmental and sustainable strategies in order to run the business in a sustainable way.
• Cultural barriers are one of the mostly occurred issues for the organization and in this purpose Coca-Cola must need to create cultural quality.
• It has been suggested to the colony to adopt a talent acquisition model in order to attract and retain best talent along with the increment of productivity (Lee, 2018).

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A performance review with your line manager to critically reflect upon the project plan, process and outcomes and what kinds of problems will be faced and how well on it from your series of research study in different aspects and information gathering;

A reflection statement also includes your personal future development from your research project which leads you to develop your business skills and development in running a business project.

Solution:

Reflection

During working on this project of talent management, I have learned about the use and effectiveness of talent management. While conducting this research I have faced many issues such as communicating with others. I have learned several things about the talent management strategies. However, it was difficult for me to follow the right research method to accomplish the research. However, it can be evaluated that perfect planning and scheduling is required to accomplish any research and that helped me a lot to complete this research. This research has been shades lights in on the effectiveness of the talent management to retain best talents in any organization. Here it can be said that acquired knowledge from the research paper will be effective for the organizations for analysing requirement of employees and taking indicatives for employee satisfaction.

After analyzing and evaluating my performance on the research here, it can be said I need to develop my communication skill that will be helpful to me to conduct future research. The learning from the these study will help me to develop my career as a team project leader. Through the acquired knowledge from the research I will be able to develop my leadership quality in my future career goal.