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DISCOVER YOUR CAREER OPTION
Choosing What is Best for You: MNCs, SMEs or Startups
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When choosing a job, it is important to find the right fit.
ithin the area of your chosen career, employers come in all shapes and sizes. Although they can be generally classified into multinational corporations (MNCs), small- to medium-sized enterprises (SMEs), or startups, you will quickly find each company has a character and disposition of its own. This is especially important when you begin considering job offers – finding the right workplace is vital when you are first setting out on your career journey.
Multinational Companies (MNCs) These are large firms that usually have one global head office and maintain facilities and assets in numerous countries other than its home country. MNCs are typically well-known companies with large operations bases and revenue. Some well-known organisations include Nestlé, Proctor & Gamble (P&G) and Visa. MNCs also tend to have strong and reputable brand value, and many graduates attach a certain level of prestige to working for them.
Pros Opportunities As MNCs maintain presences in numerous countries, there will always be opportunities to travel and work around the world. This will give you the chance to work with diverse colleagues of different nationalities and backgrounds. Moreover, you can shift between departments within the same company, enabling you to update your resume without having to search for a new job. Career progression is also fairly straightforward and you will be able to see the paths of progression ahead of you. Benefits MNCs, with their large revenues, can afford to spend. Due to this, they generally offer excellent benefits, from healthcare to corporate discounts. You may start off with a larger paycheque as well. Upskilling If moving between departments does not interest you, you can still hone your skills and master your trade as job scopes are more likely to be fixed. You will have the chance to cultivate your expertise in one area of work as training as upskilling will be provided. Successful experts will also be around you more often, so you can look up them to as role models.
Things to consider Culture and opportunities Maintaining a shared culture is challenging in a company that sprawls across several countries with different values. Rules and regulations are also much stricter, so as you integrate into the company’s culture, some aspects of your individualism may get lost. Although there are opportunities for crossdepartmental tasks, most employees find themselves moving within their own job scope with little reason to interact with other departments. Red tape Standard operating procedures (SOPs), workflow and structure can be inflexible as well. The different levels of management also mean many MNCs are resistant to change, which results in less autonomy for employees. On top of that, if you need approval for a decision or project, it may take some time for it to pass through all the required processes. Job satisfaction As one individual in a massive organisation, it can be hard to see how your work impacts the company. It can also be discouraging if you like to see the results of your work, leading to feelings of frustration and disconnect. Recognition is hard to come by, and you may even end up feeling like an expendable cog in a large machine. Competition Graduates are not the only ones jostling for limited positions in MNCs – so are experienced jobseekers. As such, competition is fierce. Competition among co-workers within large companies can be just as intense, if not more. Missteps may be used against you and, with countless jobseekers raring to join MNCs, a single mistake may endanger your career.
SIM CAREER GUIDE 2022
www.sim.edu.sg
