MNCs, SMEs and Start-ups: What are they Like?

Different types of companies offer different types of work cultures and environments. By knowing the characteristics of each type of company, you will be one step ahead of knowing which fits you best.

Multinational companies (MNCs)

What are the benefits? Factors to consider

MNCs have business operations in multiple countries and tend to boast multiple facilities and assets as a result. They also have a larger workforce, enjoy the economies of scale and possess a greater market share in the industry.

Prestige and reputation

MNCs are often highly reputed in their respective industries, thanks to their strong brand recognition. With preestablished success and strong presence, their long-term survival makes them a favoured option among graduates.

Global opportunities

MNCs, as the name suggests, boasts offices, assets and facilities all over the world. As a result, employees working here may be offered global opportunities, from travelling the globe to relocating to a whole new country. Moreover, you are more likely to meet and interact with people from different backgrounds and cultures.

Mastering your own trade

With such a large task force, it allows employees to focus on their own job scopes rather than having to wear multiple hats and deal with cross-functional tasks. As a result, specialisation is something you may find yourself doing in your career path. Should you wish to upgrade yourself, MNCs usually have the resources to provide training workshops and upskilling sessions. Bureaucracy

Being such a large organisation, MNCs usually adopt a rigid workflow, and with it, strict standard operating procedures. Certain requests and claims may need to be signed by multiple people up the chain, and can take up a lot of time, which can be frustrating to deal with, even to those in charge!

Fierce competition

Naturally, due to the popularity of MNCs, fresh graduates looking to apply may find themselves up against experienced jobseekers as well. As a result, be prepared for an intense, competitive interview process, and ensure that your resume, elevator pitch and selling points will be able to stand out from the crowd.

The recruitment process for MNCs can be long as well, and definitely expect more than one round of interview. Assessment centres may be utilised too, so be sure to practise for those as well!

Small and medium-sized enterprises (SMEs)

SMEs are companies with less than 200 employees or an annual sales turnover of under $100 million. In a study conducted by Singapore Business Review, it was found that 220,000 SMEs employed two-thirds of Singapore’s workforce.

What are the benefits? Factors to consider

Exposure to different roles

With a smaller employee pool, wearing different hats on the job is a common occurrence for employees, taking on crossdepartmental tasks and responsibilities. By tackling broader job scopes, employees will find themselves being able to explore different fields, and potentially find something that they had an aptitude for.

Career progression

In an SME, employees tend to enjoy higher visibility from the get-go, meaning that your hard work and achievements will be noticed a lot more by the higher-ups. In that same vein, graduate employees may receive more responsibilities and opportunities to expand their skillset.

Working in smaller departments means your competencies and achievements are more easily noticed in a smaller company. Additionally, fresh graduate employees may receive more responsibilities and opportunities, gaining exposure to different parts of the business and setting themselves up for future roles.

Team bonding

With a smaller company, it tends to be easier for employees to form bonds with each other. As a result of increased collaborations and communication, expect teams to be more friendly, and be more aware of the qualities of others. Having good relationships with fellow colleagues often results in improved working standards and a more united front to strive towards the company’s success. If working in a friendly environment sounds like something you want, joining an SME might be the place for you. Formal training

It is not common for SMEs to provide formal training or graduate schemes due to limited resources. As a result, much of your professional development will be done onthe-job, from willing colleagues or even yourself via selflearning.

Work benefits

SMEs typically cannot afford large bonuses and monetaryrelated benefits (e.g. medical and dental). However, they can make up for this by not only offering competitive salaries but also other work benefits, such as flexible working hours and more days of annual leave.

Start-ups

Newly established businesses that have been established for less than five years. They often specialise in niche products and services that may not be otherwise found in the market.

What are the benefits? Factors to consider

Innovation

Those who enjoy working in a creative and innovative environment may find themselves thriving at a start-up. New ideas and suggestions are accepted by everyone, and they may be given the opportunity to experiment on new ideas for the company.

Flexibility

Although you will work about the same number of hours as those in MNCs and SMEs, start-ups tend to offer more flexible schedules, letting you work in a less rigid structure.

Independence

For those who are willing to take charge of their own professional development and progress, the independent working environment of start-ups may work for you. You can expect to have minimal supervision, but will be expected to be proactive and take initiative in getting your work done efficiently and on time. Job security

Start-ups are also known for their high turnover rates, and the harsh reality is that they may end up going out of business before they even earn any profit. Going into a start-up means being aware that it may not succeed in the long term, affecting your job security.

Long working hours

To survive in competitive industries, start-ups will need to put in as much effort as they can to succeed, which can translate to longer working hours for everyone, even the higher-ups.