Table of Contents
P1 Devise project aims and objectives for a chosen project within your chosen Business.
1.0 Project Background.
1.1 Aims and Objectives.
P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources.
2.1 Scope of the project
2.2 Estimated costs and resource allocation.
2.3 Budget for the proposed project
2.4 Risk management plan.
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for completion
3.1 Work breakdown structure.
3.2 Project Schedule to be identified and applied.
P4 Conduct small-scale research, information gathering and data collection to generate knowledge to support the project
4.1 Literature Review.
4.2 Research methodologies.
P5 Analyse research and data using appropriate tools and techniques.
5.1 Analyse secondary data.
5.2 Analyse primary data.
P6 Communicate appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusions.
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning and performance
The aim of this paper is to manage and develop a successful business project, where the project title is “analyze the impact of incentive scheme on staff retention in the retail sector of the UK including John Lewis”. This part also describes the background, aim and objectives, project scope, cost, resource and budget, communication and contingency plan of the proposed project. In addition, research on the proposed project is conducted by the second part of this paper. This part defines the execution phases and methodologies of the proposed project. Moreover, a number of recommendations are given for the retail organization in this proposed project. Last, of all, this paper provides a reflection on the total process and outcome of this project.
P1 Devise project aims and objectives for a chosen project within your chosen Business
1.0 Project Background
Phillips (2017) notes, employee retention is a goal of an organization to keep the skilled employees and reduce staff turnover by creating a better work environment to maintain employee engagement, provide gratitude to the employees, and to give proper wages and benefits. On the other hand, high staff turnover in a business organization has a great impact on the business and this results in staff shortage, poor employee performance, etc (Arthur, 2018). Staff retention through several incentives is a significant factor to improve the staff retention level in business. A number of retailers such as John Lewis are not maintaining this factor for several reasons including having poor knowledge of this.
John Lewis is a well-known and international retailer in the UK that operates in different countries around the world. John Lewis is expanding its business day by day with increased sales revenue, market share and profit margin. However, this retailer is facing high staff turnover in its business that creates staff shortage, high cost in recruitment and selection process and poor employee performance (John Lewis Plc, 2018).
This proposed project will analyze the impact of incentive schemes on staff retention to recommend John Lewis for developing its incentive schemes to retain its staff and reduce staff turnover.
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1.1 Aims and Objectives
The aim of this proposed project is to analyze the impact of incentive schemes on staff retention in the retail sector of the UK including John Lewis. In addition, this research will focus on how to recommend John Lewis for developing its incentive schemes to retain its staff and reduce staff turnover.
- To analyze several incentive schemes use for John Lewis’s staffs
- To evaluate the ability of John Lewis to retain its staffs
- To evaluate the impact of the incentive schemes on the staff retention level
- To evaluate the effectiveness of John Lewis’s existing incentive schemes from the viewpoint of staffs to improve the retention level
- To give recommendations for John Lewis how to develop its incentive schemes to retain its staffs and reduce staff turnover
P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk, and resources
2.1 Project scope
As Baker (2017) notes, retail industries in the UK are facing several challenges to fulfill the staff retention level that results in staff shortage, staff turnover, poor staff performance, and low business profit. John Lewis faces high staff turnover in its business that is affecting its business performance in several ways. Therefore, John Lewis is trying to improve the staff retention level to reduce the staff turnover level (John Lewis Plc, 2018). Different incentive schemes including a financial scheme, non-financial scheme, and individual scheme’s use for improving staff retention level are analyzed by this paper in terms of John Lewis to improve its staff turnover level…………..
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