Contents
Limitations of the Project Management
Talent
Management Process Model
Previous Research Conducted on Talent Management
Research Supports Using Talent Management Strategies
Reflection on
Learning & Project Usefulness in Supporting Organizational Performance
Project
Log Book Template (Week 9)
PEPSI COLA
In
1965, Pepsi-Cola CEO Donald Kendall and Frito-Lay CEO Herman Lay accepted what
they called "a marriage made in heaven," a single business selling
perfectly-salty snacks alongside the finest cola on earth. Their vision
contributed to what soon became one of the largest food and beverage businesses
in the world: PepsiCo. In more than 200 countries and territories across the
globe, PepsiCo products are enjoyed by customers more than one billion times a
day. In 2019, PepsiCo produced net sales of more than $67 billion, led by a
complementary portfolio of food and beverages that includes Frito-Lay,
Gatorade, Pepsi-Cola, Quaker and Tropicana. The product portfolio of PepsiCo
includes a wide variety of enjoyable foods and drinks, including 23 brands that
produce more than $1 billion each in annual retail salt estimates.
History
Caleb
D. Bradham (1866–1934), a pharmacist in New Bern, North Carolina, invented the
first Pepsi-Cola. Bradham called his sweet cola-flavored carbonated beverage
Pepsi-Cola in 1898 in hopes of duplicating Coca-recent Cola's popularity. The
drink proved so successful that the Pepsi-Cola Company was incorporated in
Bradham in 1902. After several years of moderate prosperity, after World War I,
the business fell on hard times and was reorganized and reincorporated in the
1920s on many occasions. Charles G. Guth (1876-1948), founder of modern
Pepsi-Cola, picked up the company's name and properties in 1931. He formed a
new Pepsi-Cola Corporation, had a better drink invented by a chemist, set up
new bottling operations, and began merchandising for five cents a highly
popular 12-ounce bottle. Guth was also president of Loft, Incorporated, a candy
maker and soda fountain chain (founded in 1919), and he lost a majority stake
in the Pepsi-Cola Corporation to Loft's new management in legal battles in
1936-39. When the Pepsi-Cola Corporation was absorbed into Loft in 1941, Loft,
Inc. was renamed the Pepsi-Cola Company.
Vision
“CREATE MORE SMILES WITH EVERY SIP
AND EVERY BITE.”
·
For
our Consumers: By creating joyful moments through our
delicious and nourishing products and unique brand experiences.
·
For
our Associates & our Communities: By creating meaningful
opportunities to work, gain new skills and build successful careers, and a
diverse and inclusive workplace.
·
For
our Planet: By conserving nature’s precious
resources and fostering a more sustainable planet for our children and
grandchildren.
·
For
our Shareholders: By delivering sustainable top-tier TSR
and embracing best-in-class corporate governance.
Key Activities
PepsiCo
is a consumer products business for food and beverages. The Company is engaged
in manufacturing, promoting, distributing and selling a variety of drinks,
foods and snacks in more than 200 countries worldwide through its activities,
bottlers, contract manufacturers and other third parties. PepsiCo consists of
six divisions: Frito-Lay North America; Quaker Foods North America; Drinks from
North America; Latin America; Sub-Saharan Africa in Europe; and Asia, Middle
East and North Africa.
USP
One
of the most famous global brands targeting youth in the food and beverage
industry.
CSR Goals
Based
on how stakeholders influence the business, PepsiCo's corporate social
responsibility policies are endorsed. In its corporate principles and intent of
operation, the company's stakeholder prioritization is specified. The following
are PepsiCo’s major stakeholder groups, arranged according to the company’s
prioritization:
·
Consumers and customers (top priority)
·
Communities
·
Employees
·
Investors
·
Government (least priority)
Keys Competitors
Below
are the top 7 PepsiCo competitors:
·
Coca Cola
·
Kraft Foods
·
Red bull
·
ITC Limited
·
Unilever
·
Nestle
·
Procter and Gamble
Recent Achievements
In
2020, Pepsi was honored as a Top Employer for the ninth year in a row,
reflecting our ongoing dedication to cultivating talent, encouraging diversity,
and nurturing an inclusive and versatile working climate.
Pepsi
is the only organization to be included for 15 consecutive years on this
prestigious list. Pepsi has been recognized for actively designing programs to
accelerate the careers of women, reflecting on how we advocacy and inclusion
inform, inspire and role model.
McDonald’s
McDonald's
is one of the biggest fast food restaurant chains. Worldwide, McDonalds serves
more than 58 million customers every day. A McDonald's restaurant is owned by a
franchise, an associate, or the company itself. The company's profits come from
the franchisees' rent, dividends, and fees charged, as well as sales in
restaurants run by the company. Over the three years ending in 2007, sales
increased by 27 percent to $ 22.8 billion, and operating income grew by 9
percent to $ 3.9 billion.
History
In
1940, the first McDonald's restaurant in San Bernardino, California, was opened
by two brothers, Dick and Mac MacDonald. They initially owned a hotdog stand,
but later served 25 things that were mainly barbecue. The brothers closed the
restaurant in 1948 and then reopened it to sell only hamburgers, milkshakes and
French fries.
Reviewing
the past of McDonald's, the main profits came from hamburgers sold at a price
of 15 cents. The restaurant eventually became popular, and in 1953, the
brothers started franchising their restaurant. Neil Fox was the property of the
first franchise. In Fresno, California, a second McDonald's restaurant opened.
The Golden Arch style was the first one to be adopted. In 1954, Ray Kroc, a
milkshake mixer salesman and entrepreneur, purchased McDonald's franchise
outside of California and Arizona.
The
new promotion line “I’m loving’ it” was launched in September 2003 to back up
the new products.
Vision
McDonald’s
vision is to be the world’s best quick service restaurant experience. Being the
best means providing outstanding quality, service, cleanliness, and value, so
that they make every customer in every restaurant smile.
McDonald’s
brand mission is to be their customer’s favourite place and way to eat.
Key Activities
The
key activities McDonald’s engages in is the marketing and selling food and
beverages.
USP
McDonalds
offers excellent food quality especially burgers and great quick service.
CSR Goals
McDonald’s
2020 CSR & Sustainability Framework aspirational goals include:
·
Promoting sustainable production of beef
by working together to create global principles and requirements and by
committing to starting to buy a portion of beef from confirmed sustainable
sources in 2016.
·
Sourcing 100 percent of coffee, palm oil and fish
that is verified to support sustainable production.
·
Procuring 100 percent of fiber-based packaging
from certified or recycled sources
·
Serving 100 percent more fruit,
vegetables, low-fat dairy or whole grains in nine of its top markets.
·
Increasing in-restaurant recycling to 50
percent and minimizing waste in nine of its top markets.
·
Increasing energy efficiency in
company-owned restaurants by 20 percent in seven of its top markets.
Key Competitors
The
key competitors of McDonalds are listed below:
·
KFC
·
Burger king
·
Dominos
·
Pizza hut
·
Subway
Recent Achievements
A
Ray Kroc Award has been won by Jessica Leger, manager of McDonald's restaurant
in Keene, which honors the highest performing McDonald's restaurant managers
worldwide.
In
order to earn the award, which includes a cash reward and a medal, Leger was
one of 340 McDonald's restaurant managers worldwide (representing the top 1% of
restaurant managers).
Project
Management Plan
Project
Purpose
The most important aim of this project is to understand the
comprehensive study within our field. This project offers brief
introduction to students about improvement of their research skills. The basic
aim of this project is to study the connection between various business
operations and processes. The list of these operations includes general company
operations , Human resource management , and developing employee talents
through practice .
Aims and Objectives
The main aims and objectives of this project are as follows:
• To write the
complete overview of the process.
• To gather
important and relevant data related to modern innovations made by the selected
company.
• To maintain the
log book with details of ongoing and completed activities.
• To carry out a survey for the verification of the risks and
issues involving the selected company.
• To provide
details about projects created by managers.
Roles and Responsibilities
• Providing the
setup of projects.
• Verifying and
asking questions.
Our team must make sure that is the organization providing the
information we have to complete this project for each individual?
Project Cost
Project Quality
Project quality management happens with these three processes:
• Quality planning
• Quality assurance
• Quality control
Limitations of the Project Management
There are following
limitations:
• Dependence on functional management.
• Inability to stick with the scope of project.
• Following an exclusive methodology.
Gantt Chart
Logbook Week 1
|
Name: |
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Project Title: Talent Management
strategies used to attract and retain employees |
|
Date: 2nd Nov
2020-8th Nov 2020 |
|
Update on weekly
Research/Tasks Achieved We have introduced ourselves for managing a successful business
project and understanding the learning outcomes of the course. We were
involved in a concept development activity which involved activities such as
learning about types of Projects, definition of project, project management,
different approaches of project management, phases and lifecycle of project management.
These activities also involve executing, completing, planning, monitoring and controlling the project. The
list of risks connected with this
project includes Risk management and risk forecasting. Conclusion: It is very important to successfully complete the planned course within the week. |
|
Any risks and/ or
issues identified? It is a little difficult to understand the concepts which have
been taught during the academic sessions Since, right now we are just studying in the 2nd
Semester of HND. Moreover, it is a fact that we are making the project first
time. Therefore, it was quite difficult for our group to apply the taught concepts
in the class. |
|
Problems encountered Our class didn’t face any big problems during study as we were provided
with required notes and guide books. Therefore we faced no major issues during
the class. |
|
New ideas and change
of project direction The main objective was to learn modern ideas related to the
project management. In addition to that we also had to research, and align
our self with what we have learnt. We also have to learn application of these
concepts. |
|
What have I learnt
about myself this week? Out teacher guided us well about syllabus and related concepts.
I learnt a lot while performing this task by myself. I think that my
performance was quite satisfactory as I de well while performing the project.
However, I think that I could improve
my performance through researching more about the subject project management.
I also know extra research will help
me to improve my future tasks by better performance. . |
|
|
|
Tasks planned for next
week I will carry out a secondary Research related to Project
Management which will help me to align
concepts of project management with the research concepts. Moreover, I have
to learn about research methodology for extra performance about the project. Since, it is known that itbis
impossible to complete project without incomplete research methodology. |
|
Project plan status to
date (on, ahead, behind) Project plan status to date is successful completion. We are on
time for the project so far. |
|
Supervisor comment to
address |
Logbook Week 2
|
Name: |
|
Project Title: |
|
Date: |
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Update on weekly
Research/Tasks Achieved Our class learnt about research methodology and two kinds of
research methods. The two methods of research include qualitative research
method and quantitative research method. In addition to that we also learnt
about their advantages and disadvantages. Moreover, we also learnt ways of
creating projects through using various types of data such as primary and
secondary data research tools, research report format, data analysis. In the
end we also learnt the interpretation of the data sets. Conclusion: our main aim is to successfully complete planned
tasks during the week. |
|
Any risks and/ or
issues identified? It was quite difficult for us to understand the concepts during
the class as we are learning concepts of research methodology for the first
time. |
|
Problems encountered Our class didn't face any particular issue related to weekly
tasks. It was observed that the assignment was very difficult as it looked
like a complicated assignment to me
initially. I felt that way because was
a lot different than the previous assignments we did. |
|
New ideas and change
of project direction We have learnt new ideas to properly undertake and complete the
assignment through application of useful concepts . |
|
What have I learnt
about myself this week? There are lots of different things which are important while
understanding the course. They are also quite
useful in performing and completing the weekly task. I have performed
very well as I have perfectly completed tasks. However, I think I must
improve knowledge about project management which would aid me to increase
performance in my future tasks. |
|
Tasks planned for next
week We have planned to undertake task division, understanding and
interpretation of tasks, and selection of the company. |
|
Project plan status to
date (on, ahead, behind) Project plan status can be seen from the fact that our project
has been successfully completed within
a given time period . |
|
Supervisor comment to
address |
Logbook Week 3
|
Name: |
|
Project Title: |
|
Date: |
|
Update on weekly
Research/Tasks Achieved We have successfully carried out activities such as task
division, interpretation of tasks, project outline discussions, understanding
tasks, and brainstorming on selection of companies. Conclusion: It was very important to complete the task within
the given weekly time. |
|
Any risks and/ or
issues identified? Our basic knowledge about the project management helped us to
solve this weekly task without facing any major difficulty . |
|
Problems encountered We didn't face any serious problems during solving weekly tasks
as these tasks were fairly easy. However, I faced a small issue while
selecting the company to do the task.
I overcame that difficulty by taking help from the instructor. |
|
New ideas and change
of project direction I have learnt modern ideas about doing assignments easily
through the application of the concepts |
|
What have I learnt
about myself this week? I think that there is more to learn about the course, as we all know that it is
not easy as we all thought. Moreover, we were provided with a new task which
is mainly different from the last one. I expected to be an easy task but
after every week it is getting more and more complicated. However, I think
that I performed very well while carrying out this weekly task. |
|
Tasks planned for next
week I have planned to finalize the company data collection & academic discussion
on task 1. This activity is carried out through writing the business
overview, and project management plan |
|
Project plan status to
date (on, ahead, behind) We have completed the project on time as we are on time for the
project so far. |
|
Supervisor comment to
address |
Logbook Week 4
|
Name: |
|
Project Title: |
|
Date: |
|
We have
to finalize the data collection and academic discussion of the company as
given in the task one. Moreover, we also have to write the business overview, project
management plan. |
|
Any risks and/ or
issues identified? We felt a bit less difficulty while performing this week task as
we have learnt a lot about the project management. |
|
Problems encountered We didn't encounter any particular problem during the weekly
tasks, as the entire weekly tasks were fairly easy. However, there was a
small problem while selecting the company and this problem was solved by the
help of our experienced and skilled tutor. |
|
New ideas and change
of project direction We learnt new ideas about solving assignments easily and
successfully. It is mostly done through applying concepts in the right way. |
|
What have I learnt
about myself this week? We think that there is more to learn about the course, as we all know that it is
not easy as we all thought. Moreover, we were provided with a new task which
is mainly different from the last one. I expected to be an easy task but
after every week it is getting more and more complicated. However, I think
that i performed very well while carrying out this weekly task. |
|
Tasks planned for next
week We have to collect secondary data for the selected
organizations. This data will be about their response to current issues of
equality and diversity. Moreover, we will have an academic discussion on maintaining the logbook
secondary data findings. |
|
Project plan status to
date (on, ahead, behind) Project plan has been completed on time within the prescribed
time period. |
|
Supervisor comment to
address |
Logbook Week 5
|
Name: |
|
Project Title: |
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Date: |
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Update on weekly
Research/Tasks Achieved We have to collect secondary data collection of the selected
organizations Then we have to carry out academic discussion on maintaining
the logbook secondary data findings. This discussion will also cover the
response of our companies vis-vis current issues of equality and diversity. Conclusion: We have successfully
completed the planned task during the week |
|
Any risks and/ or
issues identified? There were no such problems faced as the weekly task was fairly
easy in this particular week. All the information and all the data findings
were done in home as the secondary data was easy to find was available all
over the internet. |
|
Problems encountered We did not encounter any serious issues during the weekly tasks
as the task was mainly done through the internet. |
|
New ideas and change
of project direction I think that there is more to learn about the course, as we all know that it is
not easy as we all thought. Moreover, we were provided with a new task which
is mainly different from the last one. I expected to be an easy task but
after every week it is getting more and more complicated. However, I think
that I performed very well while carrying out this weekly task. |
|
What have I learnt
about myself this week? We have to collect primary data of the selected organizations. This data is
related to their response to current
issues of equality and diversity. In
addition to that, we also have to develop
data collection tools for creating interview questions. |
|
Tasks planned for next
week Primary data collection how my selected organisations have
responded to current issues of equality and diversity. Development of data collection tools that is interview
questions. |
|
Project plan status to
date (on, ahead, behind) I have completed the project on the given time period. |
|
Supervisor comment to
address |
Logbook Week 6
|
Name: |
|
Project Title: |
|
Date: |
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Update on weekly
Research/Tasks Achieved Primary data was collected for this project on how companies
responded to current issues of equality and diversity. Development of data collection tools that are interview
questions. Conclusion: We have successfully completed the planned course
within the given weekly time period. |
|
Any risks and/ or
issues identified? I had to face the problem of required skills to carry out this
project in time. |
|
Problems encountered We have encountered some problems while collecting data in
Pakistan due to Covid-19 related economic and political crisis. We solved
this issue by collecting data through using our own political sources. |
|
New ideas and change
of project direction We have learnt new ideas by doing this project. Then we have
collected primary data. Then we completed our project through aligning
ourselves with what we have learnt and then applying it. |
|
What have I learnt
about myself this week? I think that there is more to learn about the course, as we all know that it is
not easy as we all thought. Moreover, we were provided with a new task which
is mainly different from the last one. I expected to be an easy task but
after every week it is getting more and more complicated. However, I think
that I performed very well while carrying out this weekly task. |
|
Tasks planned for next
week We have to carry out data analysis, interpretation & report
writing. |
|
Project plan status to
date (on, ahead, behind) Project plan was completed on time and within the requirements. |
|
Supervisor comment to
address |
Research Report
Abstract
Talent
management is a modern and effective way of implementing the personnel policy
enabling the organization to achieve strategic goals through the proper usage
of the potential inherent in human resources. Talented employees are the most
important value-created resources for the organizations. Talent and Talent
Management (TM) concepts have been discussed in strategic human resource
literature and business life for several years. The culture of those group of
people, learning capabilities are strengths of companies to create
high-performance and a culture of innovation. In this context it is critically
important to attract, develop and retain talented employees to the organization
to gain competitive advantage. Nowadays, the perception of talent management
activities varies from company to company. The selected organization for
conducting the study is Pepsi Cola, Karachi Pakistan. The research design of
this study is descriptive. The data was collected through using both
qualitative and quantitative methods. Observation method is used in
quantitative research and in qualitative interview method is used. By
collecting the data from H.R staff and employees of the Pepsi and McDonalds.
The overall analysis shows that giving material rewards and promotions are the
strategies of talent management used by Pepsi and McDonalds.
Introduction
The
twenty-one century is the age of technology and globalization, firms are no
longer operating in isolation, and big corporations are no longer working
Sharing technologies on a scale can be easily observed. Therefore, corporate
leaders are starting to encourage resources such as human capital. Which can
give them a competitive edge over rivals. Companies have access to modern
emerging innovations now. Developments with the right sort of assets. The only
thing that separates one business from another business is Usage of human
intelligence.
Talent
management requires identifying the qualities, personalities and alignment of a
person's innate abilities. Every person
has a unique talent that fits a specific job profile. This is the mission of
Human Resources (HR). An organization's department to select the correct
candidate for the right position. In more recruiting, a wrong fit results,
Re-training and other things which are inefficient.
The
principle of talent management started to take hold in the 1980s. Organizations
have been using the best human capital to filter out from the remainder. That
age was deemed to have more influence over people and their career preparation,
but that was after the 1990s, he shifted. The workers were given responsibility
for their career preparation at that time. After 2000, however, Companies are
starting to speak about employee career growth power by offering them
opportunities.
In
this respect, talent management plays an important role by positioning the
required workers according to their capacity to operate. The purpose of this
research is to evaluate the capacity of organizations to attract, sustain, and
retain Key staff, and involve them. This eventually leads a company to enhance
its efficiency and provides it with a competitive profit.
Talent
is still in evolutionary stages and is yet to be developed in the business
literature as a separate construct so that other words are not used in its
place. Talent must be recognized as an independent term in order for academics,
writers, researchers, practitioners and readers to establish a common sense of
The word. The phenomenon of talent and talent management will move towards becoming a discipline with
a stronger theoretical foundation without this common context.
Talent Management Process Model
Literature
Review
(Hale,1998) studied that 86% employers faced
difficulty in attracting employee and 58% came across the problem to retain
their employees. Such issues motivate organizations to focus on talent issues.
(Rothwell,2003) suggested that if organizations engage in strategic practices
to retain and engage employees, it would be beneficial for the organization.
Another, study (Neill&Heinen,2004) discussed that successful organizations
always give importance to attracting, retaining and developing the talent and
it also assists the organization in making the company’s strategy that align
the business plan with skilled employees. However, if an organization fails to
utilize human capital then the result will be in the form of business decline.
There are different features of talent management like recruitment, selection,
on-boarding, mentoring, performance management, career development, leadership
development, replacement planning, career planning, recognition and reward. It
is suggested that the organizations who wants to achieve competitive position
and to increase its productivity should adopt the approach of attraction,
recruitment, retention and development of intellectual capital. Some
researchers summed up that talent
management decisions lead towards the improvement of talent in organization and
enhance the quality of business design that influences the choices regarding
employees. Talent management polishes employee’s skills and career planning
opportunities. It ensures companies that competent employees will enhance the organization’s
reputation and performance. (Holland et al.,2007) emphasized that the companies
can improve their performance by using resource based view (RBV) in
recruitment, retention and development process and can get competitive
advantage. Hughes and (Rog,2008) elucidated that the CEO of the company plays
an important role in the effective implementation of talent management. Talent
management strategy must be integrated with all levels of organization and its
objectives must be clear. The people assessment system must be analytical. It
must be able to ensure that people have right skills according to their jobs.
Managers need to enhance their ability to translate the business need into
talent strategies for the better performance of organization. Perspectives on
talent management which companies consider while selecting talent management
approach. In process perspective, the company believes the success of companies
operations depend upon employees.
According to (Cappelli, 2008) the use of talent
management diminishes the time spent hiring replacements for leaders and
specialists. In focus is meeting the demand for the right people with the right
competencies at that exact point in time when they are needed, either with
internal successors or with candidates from outside the company.
Previous
Research Conducted on Talent Management
Talent management is very significant to the
survivor of the banking sector in the highly competitive business environment
today. It’s of value that banks should take into consideration the issue of
talent management, the fact that mobility of talents is very high today cross
national and international border mad talent management such a pivotal issue to
the business organizations especially those operating in developing countries.
The objective of this study was to test the relationship between talent
management practices, attracting, developing, retaining and bank performance in
Jordanian commercial banks.
Previous studies asserted a positive and significant
effect of talent management practices on bank performance, and this study
empirically confirmed that there is a linear relationship between talent
management strategies (attracting, developing, retaining) and bank performance
in Jordanian commercial banks. Bank management is advised to keep developing
the attracting mechanism they have applied in order to cope with the changes in
the business environment and stay competitive. Also, its advised to maintain
developing the motivation system according to the labor market conditions and
competitiveness in order to retain talented staff and to avoid labor turnover.
As it should concentrate on the rewards mechanism as a main key to retain
talents. The major limitation of this study is that the study asked for
perceived data about actual talent management practices and performance
measures, but the respondents might have given desired data, which made their
banks sound good, as all of the respondents were line managers and human
resource managers. The size of the study sample was relatively small.
Consequentially, the researcher adjusted the study data analysis strategy by
using the best valuable statistical methods such as means, standard deviation,
and Cronbach's alphas to deal with such small sample sizes. future studies
recruiting larger sample sizes are needed. furthermore, prospective studies
should effectively compare Jordanian bank performance with other banks in the
Middle East based on these variables.
Research Supports
Using Talent Management Strategies
In a study by the American Society
for Training and Development (ASTD) in partnership with The Institute for
Corporate Productivity (i4cp), the following practices were identified for
their positive impact on successful talent management:
·
Obtaining
support for talent management from top management
·
Standardizing
talent review and feedback processes
·
Appointing
a single functional owner of talent management internally
·
Developing
an organizational culture that supports talent management
·
Assuring
consistency among the talent management activities
·
Increase
the visibility of talent management initiatives
The ASTD study identified these
findings (verbatim):
·
High
performing organizations tend to integrate talent management components more
than low performing organizations.
·
Learning
executives play critical roles in major integrated talent management
components.
·
Many
of the most effective integrated talent management practices are not widely
used.
·
Impediments
to effective integrated talent management efforts include conflicting
priorities, limited resources, non-supportive corporate cultures, incompatible
organizational processes, and senior leaders who undervalue integrated talent
management.
Talent
management is a rapidly growing area, although there is a serious debate on
conceptual framework, the definition, context and the criteria about the
practice of talent management. In addition, the effectiveness and value to the
organization have not been extensively evaluated in both national and
international context. Talent management has been strategically important by
the companies and the concept elucidated by several theories and perspectives.
TM has been explained by the approaches through individual, organizational and
inter-organizational context.
Talent Management Theory
Accordingly,
human capital theory (HCT) in terms of financial view, emphasized talent
management as an investment that gained high returns for shareholders (Axelrod,
2001). In other words, the researchers explained that, HCT focused on the
organization’s investment in a talent employees’ development and training.
Becker (1964) considers that this kind of investment is as equally considerable
as investing in equipment and technology. This perspective reveal that
organizations may improve productivity if they invest in talent through
education, training and reward management system. The strategic goal of talent
management is supported by expert knowledge which is the most important measure
of capital that effect competitive positioning (Wilson, 2015).
Lawler and Worley (2006) has brought about
built-to-change theory considered that talent management initiatives must be a
part of the integrated strategy. However, many companies do not view talent in
their strategy. The talent employees and skill sets that are precious in a
company may change and an organization should be able to make ready and change
for the future.
Research Methodology
The
research design of this study is descriptive. This study is conducted by using
both Qualitative and quantitative methods. The data is collected through
observations and interviews. The interview was taken from H.R department of Pepsi
in which questions were asked on their policy that how they motivate their
employees.
Interview Questions
1.
Do you think that your employees are
satisfied with working in your organization?
2.
How do you motivate your employees?
3.
What are the strategies your organization
use to attract and retain people?
4.
Do you think that talented employees are
important for your organization?
Data Analysis & Result
The
overall analysis and results of the study shows that Pepsi motivates their
employees by using following talent management strategies:
·
They give assurance to the employees
working that they would not be removed after a certain time period of working.
·
The employees get allowances for their
various overheads such as travel, food, housing etc.
·
Promotion to the next destination which
is purely on merit.
·
Pepsi organizes an annual performance
appraisal program in which the best employee, proactive employees of the year
and various other categories are included.
·
They also provide Pepsi and all types of
meals to their employees at very cheap rate.
·
Pepsi also provide free allowance for
medication if any of the employee is sick.
·
The Company also provides extra
cash rewards to the really sincere and devoted workers. This also applies to
those employees who have worked in the company for more than 10 or 15 years.
·
Also gives bonuses to the to the workers
for the merits and hard work.
The talent management strategies of
Mcdonalds revolve around following points
·
McDonalds offers combination of
developmental opportunities to gtow its talent pool
·
·
Mcdonalds develops and then replaces
its old talent with new talent from within organization
·
·
McDonald's executive team has been
successfully evolved through using managerial strategies which are blend of
internal and external experiences.
Conclusion
The
above findings show that Pepsi and McDonalds
are two companies who are using their talent management strategies in a highly
effective way. The findings say that they provide many facilities to the
employees for example they give job security to them, this promotes the
employees to work sincerely because as they know that they would be in the
company for a longer duration they would try to put their best performance.
Pepsi also give pay allowances, this
means that the employees would get allowances for their various overheads such
as travel, food, housing etc. This is an added advantage to the employees
working to motivate them to produce and give their output effectively.
They
also give promotion on merit basis, this is an important factor of motivation,
when an employee gets an opportunity to be promoted purely through his merit he
tries to put in his best performance. This creates an atmosphere of competition
among employees this is good because it increases the productivity of the
workers.
Pepsi
organizes an annual performance appraisal program in which the best employee,
proactive employees of the year and various other categories are elected and
felicitated. This creates recognition for hard work, Job satisfaction and
effort put in by each member. This motivates each one to obtain that
recognition.
After losing 4 CEOs due to illnesses McDonalds formed a
talent management team to make sure that there is continuous supply of talented
and skilled managers ams leaders. The talent management team pf the company is mostly focused on taking
various initiatives such as improving employee’s performance and talent
development. Moreover, it also focuses on improving the process of planning
succession and also initiation of implementing leadership programs like McDonald’s Leadership Institute. This
leadership program is highly effective as it is focusses on getting and retaining talented
executive-level leaders. Right now Mcdonalds is planning tp use thia program
for expanding and retaining the whole workforce operating in all the ranks.
Recommendation
After
conducting the whole study there are the following recommendation to attract
and retain people:
McDonalds and PepsiCo should implement following
recommendations to get fruitful results :
·
McDonalds and PepsiCo should increase their
paying allowances for their highly performing employees.
·
McDonalds and PepsiCo management must
make sure that there is a employee job security. There should not be any
unannounced downsizing.
·
McDonalds and PepsiCo must use effective
performance appraisal tools that could help in promoting employees on merit.
·
McDonalds and PepsiCo should make sure
that employee should get medical facilities along with their families.
·
McDonalds and PepsiCo management must
make sure that employees are getting quarterly or annual bonuses in case of company
growth.
·
McDonalds and PepsiCo management must
offer cash rewards to employees who are responsible for offering innovative
ideas.
·
McDonalds and PepsiCo management must
make sure that every employee is getting transportation and meals by
organization.
·
McDonalds and PepsiCo management must
use effective communication tools for transparent communication. In addition to
that every employee should get respect without any discrimination.
·
McDonalds and PepsiCo management must make
sure that employees should get due recognition for their good work
.Acknowledgement
First
of all, I would like to thanks Allah almighty for blessing me with the skills
to perform this research study. In the end I am really thankful to the
managerial staff of bank Alfalah for giving me their precious time for my
research report.
Limitation of the Study
The
limitations of the study it is only useful for the companies and organizations
in order to
keep their employees satisfied, reducing turnover rate and using best talent
management strategies. There are many organizations especially in Pakistan
which lacks using the best talents management strategies which are the reason
that employees start leaving their jobs and it create a huge mess for a
company. It spoils the company image and employees also suffers from un-
employment.
Therefore,
the study is limited to those organizations who are still suffering to get good
employees and are not using best strategies for talent management.
Week 7
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Name: |
|
Project Title: |
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Date: |
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Update on weekly Research/Tasks
Achieved We have conducted a data analysis through analyzing both
secondary and primary data collected on the topic. Moreover we have also carried out interpretation of data &
report writing. Conclusion: We have successfully completed the given course
within the weekly time period . |
|
Any risks and/ or
issues identified? The task was difficult as I haven’t done report writing
previously hence I lacked skills required in completion of tasks. |
|
Problems encountered I have encountered a problem while writing the report as I
haven't carried out report writing earlier in my career. |
|
New ideas and change
of project direction We have learnt new ideas for the report writing through aligning
ourselves and then applying what we have learnt in our lives. |
|
What have I learnt
about myself this week? The problem that I had to deal with was with the report writing
as I haven’t done report writing like this previously, but I got help from
the instructor. I did find it useful in completing the task as I learnt a lot
for new things. In my opinion I did my best. This will help me in the future
in writing reports. |
|
Tasks planned for next
week We have to carry out activities such as report writing, finding
data results, and maintaining the logbook for tasks activities. |
|
Project plan status to
date (on, ahead, behind) Our project plan was successful as we have completed the project
within a given time period. |
|
Supervisor comment to
address |
Week 8
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Name: |
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Project Title: |
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Date: |
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Update on weekly
Research/Tasks Achieved Researching and collecting more information to write literature
review, Report writing ,Finding data results,Maintaining the logbook for
tasks activities. Conclusion: Successfully completed the
planned course during the week. |
|
Any risks and/ or issues
identified? There were some risks and issues regarding the completion of the
weekly tasks, due to some religious protests going on in the country. This
issue or risks were resolved by doing the task as early as possible and by
staying at home. |
|
Problems encountered I didn't face any serious problems during the research report
preparation. |
|
New ideas and change
of project direction We have learnt new ideas for the report writing, and we also
aligned our self with what we have learnt and then applied it. |
|
What have I learnt
about myself this week? This task was made easier through taking the help of an
instructor as we all were guided to do the
report writing. I found it extremely useful in completing the task as
report writing will aid me in the future. In my opinion my performance was
quite satisfactory . |
|
Tasks planned for next
week I have to finalize the research report and write a performance
review for the Project. Moreover, I also have to maintain the logbook for
task 3. In addition to that, I have to do proofreading & formatting
of the final documents. Additionally, it's also essential to do Referencing
of the documents. |
|
Project plan status to
date (on, ahead, behind) Project plan was a success as we completed the work on time. |
|
Supervisor comment to
address |
Reflect
on the success of the project and its usefulness in supporting organizational
performance. Review your own learning and performance. Comment on how
organizational efficiency and effectiveness has been affected by talent
management and what strategies are being used to attract and retain employees.
Furthermore, also comment on your task completion timelines and stated timelines
of project.
Reflection on Learning & Project
Usefulness in Supporting Organizational Performance
After
conducting the research study, I have learned a lot about the effective talent
management strategies by interviewing the managerial staff of selected
organization and also by observing the employees of the company.
The
task completion was itself a challenge likewise, conducting a research study
but it has been done in a given time frame successfully. The project was very
successful for me and my learning perspective as well. Being a student it was
difficult to collect relevant data in the given time.
I
have really enjoyed this work as I got the opportunity to study about talent
management policies of multinationals such as McDonalds and PepsiCo which would
surely help me my future professional career. Moreover, it has made me accustomed
to professional workplace environment which helps in producing quality talent
and innovative products.
After
the completion of this task I learn to command over the complex concepts of the
research and it was also helpful in building up my confidence level as I
interviewed the staff.
This
report is very useful for the organizations to keep their talent employees
happy and satisfied because satisfied employees are the key to organizational
success. This report will help the other companies to learn important
strategies for talent management.
Talent
management is very important in attracting and retaining the employees. If the
company will not use effective strategies for talent management it will
negatively impact on the company’s success, it will increase the turnover rate
and company will suffer because of not having talented staff.
There
are the following important strategies of talent management which can help the
organization to grab their talented employees and decrease turnover rate.
1. Incentives
and bonuses.
2. Promotions
on merit basis.
3. Respect
and trust.
4. Democratic
and flexible approach towards employees.
5. Providing
transportation and meals.
6. Giving
trainings for professional growth and development.
7. Providing
medical facilities.
8. Job
security etc.
Project Log Book
Template (Week 9)
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Name: |
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Project Title: |
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Date: |
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Update on weekly
Research/Tasks Achieved Finalization of research report & writing performance review
for the Project. Maintaining the logbook for task 3. Proof reading & formatting of the final documents. Referencing of the documents. Conclusion: Successfully completed the planned course during the
week |
|
Any risks and/ or issues
identified? The issue that I faced was writing the performance review as I
haven’t done that before, this was overcome by the instructor as he guided us
all. |
|
Problems encountered No such problems were faced as all was going according to
planned and by completion of every weekly task. Only problem that I faced was
with the referencing, and I asked the instructor and she helped me out. |
|
New ideas and change
of project direction Learning new ideas for performance review, and aligning our self
with what we have learnt and then applying it |
|
What have I learnt
about myself this week? I feel relaxed after completing all the tasks within due time,
and in my opinion I have done fairly well as this assignment will help me in
carrying out successful projects in the future. |
|
Tasks planned for next
week Submission within due date |
|
Project plan status to
date (on, ahead, behind) Project plan status to date is successful completion. We are on
time for the project so far. |
|
Supervisor comment to
address |
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Hale, J. 1998. Strategic Rewards [R]: Keeping Your Best
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Heinen,
J. S., & O'Neill, C. 2004. Managing talent to maximize performance.
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