A recent research report found that a majority of people in Asia prefer to work for multinational corporations (MNCs).
Although there is quite a bit of attention on creative and groundbreaking startups, as well as small to medium enterprises (SMEs), a report by Randstad Workmonitor found that:
The global marketplace has a different result, though. Globally, this research report found that more employees would prefer working for small to medium enterprises at 64 percent, followed by multinational corporations at 55 percent and startups at 50 percent.
Further breaking down these results, age also plays a part in these preferences.
Researchers believe that two factors are the largest draw to the multinational corporations: job security and work-life balance. This is because MNCs often have more emphasis on these aspects.
In each of these Asian markets, multinational corporations are dominating when it comes to bringing in the best talent. The reason behind this is that they are able to take their brand name and the reputation that goes along with it, in addition to larger resources and attractive company culture as a draw for job seekers.
However, there are some changes occurring in these areas when it comes to the labor market. Over time, local SMEs are getting better at meeting employee needs and becoming attractive workplaces.
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