According to a recent poll of undergraduates and recent graduates of the three local universities, Singapore Management University (SMU), National University of Singapore (NUS) and Nanyang Technological University (NTU), MNCs, as a category, still outstrip SMEs as employers of choice. Recruitment firm JobsFactory, which polled over 4,500 students, revealed that in this year’s survey, the top five employers of choice in the private sector are Apple, Singapore Airlines, Google, 3M and DBS Bank – all large companies with operations across the world.
It is not difficult to see why job seekers flock to MNCs. Besides the easily-recognisable brand names, they are also seen as organisations that are more transparent, offer higher remuneration, superior benefits and strong organisational structure – all of which point to better career prospects. Recent surveys have highlighted that company culture and work-life balance are important to the younger generation, and bigger firms are perceived to be more flexible – or at least, more open to suggestion – in these areas. Conversely, SMEs are often seen to be non-transparent, authoritarian and less professional (than MNCs). More often than not, the founder/boss’ inner circle is made up of family and relatives, with competence a secondary consideration.
In the fight for talent with the big boys, SMES need to take the important first step – a mindset change. “First, accept that people will want to work for a prestigious or brand-name company – they expect more latitude for growth, opportunity for travel, higher pay, transparency and other benefits. SME`s need to create awareness among the society by reaching out to masses by the form of small time branding activities like distributing T shirts or bags to its employees or any branding exercise which would could increase the brand value of the company among the general public.
You may think the concern over branding only applies to big-time conglomerates like Google and Microsoft. But with the competition these days in business, your brand should be as important to you as your reputation, the quality of your staff, and your price.
To put it simply, ask some people in the industry orin the job market as to what they think about your firm, and their answer will give you an idea of what your brand is really like. Your brand exists, whether you market it or not.
Your brand also reflects how you treat your employees and how they in turn treat customers. Are you impeccable with your word and are your employees, therefore, impeccable with theirs? Does your firm keep its promises – from the raise your employees were supposed to get to the date you told your customer you’d be finished with their project?
All these things work to define your brand. As an employer , you can actively support your brand, or you can ignore it. What would you choose ?
( These are my personal views : Feel free to post your comments)
