Multinationals most attractive workplace to Singapore, Malaysia workers
Employees in these countries believe multinational corporations can cater to their demands for more work-life balance and job security, a new study noted.
While millennials say it is more exciting to work for innovative startups and flexible small to medium enterprises (SMEs) these days, large multinational corporations remain the top job preference of Singapore and Malaysia workers.
Globally, 64% of employees stated an overall higher preference in working for SMEs when compared to MNCs and Startups, but employees in Singapore and Malaysia however bucked these trends, with 75% indicating they would rather work for large, global organisations, the latest Randstad Workmonitor research found.
Millennials across all three markets, surprisingly, exhibited a strong preference for MNCs. The survey revealed that on the average 81% of Millennials preferred to work for MNCs, compared to only 67% for SMEs and 60% for startups.
In Singapore, 73% of millennials selecting MNCs as their top workplace, compared to 63% for SMEs and 57% for startups.
In Malaysia, this trend is even more apparent, with 84% of millennials naming MNCs as their top employment choice and only 60% choosing startups.
Managing Director for Randstad Singapore, Hong Kong and Malaysia, Michael Smith, believes the reason for these findings is because employees now seek work-life balance and job-security more than ever, and large companies can cater to these demands.
He says it is “not surprising” more employees in the region are looking towards MNCs now because large companies are believed to place more emphasis on those aspects.
“Typically we have seen that MNCs, especially in Singapore and Malaysia, tend to be the dominant employers in their respective markets,” says Smith.
“They have been able to successfully leverage their global brand and reputation, along with strong resources and company culture, to attract job-seekers.”
Still, he adds that as these markets continue to mature, local SMEs are beginning to adapt quicker to the agile work conditions increasingly desired by employees to engage and attract better talent.