“Take away all my machines, burn away my factories but give me back my people, and I will build my factories again” (c) Henry Ford
For any organization, the strength lies in its true ‘Employee Power’. The success of any company depends on the process & systems they follow, the way they provide training and give employees the freedom to set their own targets and goals, and to achieve them within the agreed time. This also helps to enhance cross functional leadership and drives continuing process improvements, thereby creating new generation leaders.
In today’s world of entrepreneurship and with rapid changing trends, start-ups have become the best choice to work for, from top to bottom. While, today’s younger generation has various options in choosing a job, from a start-up and multinational, as both offer matchless advantages. No doubt, it is rather tough to choose relatively unknown firms over well known MNC brands as it not only depends upon the role & responsibilities but the overall financial capabilities of a start-up. As long as it is well funded or promoted by VC’s, employees can be rest assured of their future with start-ups since it offers greater exposure and liberty to deal with the dynamic environment?
The power of two magic words i.e., “I WILL or I CAN” thereby gives people the required strength, mental power to take challenges, accept higher responsibilities and set their own targets / goals to further develop their career and climb the ladder in their chosen career path.
Today’s younger generation today is not only looking at careers but also to gain experience in a start-up kind of environment in order to get different and challenging work. The graduates from top B-Schools are looking for roles that are meaningful, give them better exposure and scope to learn different solutions.
To cope with this behavior, companies need to be more innovative to ensure their employees are engaged aptly to perform, innovate, challenge and drive outcomes. According to researchers, the five elements that drive a highly engaged workforce are – the work, management environment, flexibility and inclusion of the workplace, people’s ability to learn, grow, trust and meaning from leadership. The right mix of these elements in the workplace can lead to deserved productivity and smarter workforce.
The advantage of working with a start-up is that one can experience from conceptualization phase to delivery to post delivery. So, the employee would get an opportunity to develop a better perspective and overview.
The way start-ups and MNCs manage their human resources are also very different. While MNCs look at volume or bulk hiring, start-ups do niche skill hiring. Opportunities for formal learning and job rotations tend to be higher in a multinational.
MNCs always have the advantage of established brand image, well developed networks across regions, mature policies and processes, stable organisation structures. It is usually designed and adapted to the specific country where it is located. All these aspects bring a degree of stability and predictability as compared to a start-up.
More importantly, when it comes to rewards & recognition, the start-ups will offer higher benefits via a bonus or a variable pay program so the employee will take up higher risk than in MNC. There is an opportunity to achieve higher recognition in a shorter span of time.
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