DHAKA TRIBUNE

Career

Sunday, March 30, 2014

Why multinational companies are ruling the job market

Nakibul Hoq and Naiian Yazdani n
What type of organisation do you envision yourself working in? This is one of the first questions we pose to our young graduates at GradConnect when they seek assistance regarding their career options. The majority of business majors are attracted to the blossoming multinational companies which offer competitive salaries and long-term career progression. Some are pursuing roles in the sparkling financial services sector in dynamic roles such as equity, securities and portfolio management. The rapidly emerging opportunities in business consulting and policy development have also made an indentation on the minds of many. Outside the large multinationals, ambitious youngsters, emboldened by the global market, are looking to become job-creators immediately, courtesy of inspiring initiatives such as Startup Dhaka and The Wave. Another deep pool of graduates, those with engineering majors, tends to be more diverse in their choice of career. Like the business graduates, many want to work in the existing multinationals of the country such as British American Tobacco, but many also embrace a life of civil service and NGOs, working towards the development of the nation. The most ambitious ones even dream of going to Silicon Valley, utilising their superior quantitative skills to place themselves in Google, Microsoft or even to establish their own tech venture. However, there is a distinct lack of interest when it comes to working for domestic corporations. Despite the fact that these companies add millions to the national tax revenue every year and supply the livelihoods of many, young graduates are not attracted to the prospect of working in these companies. It was hardly a surprise when Nielson Bangladesh named Unilever Bangladesh the Number One Choice of Employment for Young Graduates in 2013. What is behind this trend? There are multiple factors both at an organisational level and at a countrywide level. Multinationals are run by professionals who have worked globally and know how to achieve success. The business nous of these individuals means they are equipped to create an organisational culture that is positive and successful. houses of cards may crumble soon without substantial notice. Interestingly, the market for talent is one of the most transparent in the country. These youngsters are well equipped to decide where they can obtain their market value and in what form, whether it is through a higher paycheck or a prestigious role. Domestic organisations are latching onto this and there is recognition amongst them that they must now adapt or miss out on the talent which may help their organisations grow and keep their name in lights. The shift is tangible and the generation change is now weaving its way through these companies.

The multinational companies emanate a certain gloss; their ideas are bright and engaging and are almost always new to Bangladesh
Talent attracts talent, and the best and brightest have quickly shifted their interest to these organisations, thus creating hyper competition and prestige for these positions. Those who are successful in obtaining roles have a sense of accomplishment matched by their colleagues, creating a sense of camaraderie and belonging not only while at office but also beyond it. The organisations are worn as a badge of honour, recognised by all those outside it which also enhances the reputation and status of the employee in the society. The injection of multinationals hasforced domestic conglomerates to look in the mirror and make due improvements. These companies are fraught with negative perceptions which are being rectified as we speak. The stigma attached to these companies is focused on the lack of transparency and the overbearing self-interest. For example, recruitment may be done on the basis of nepotism or direc-

The stigma attached to domestic companies is focused on the lack of transparency and the overbearing selfinterest

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tors quotas making an uncomfortable treaty between employees. Furthermore, historically, domestic companies have had a rigid hierarchical structure leading to a tense and complex bureaucratic processes fostering inefficiency. Most of the HR departments of the local companies recognise this problem, and this is why some of the forward looking companies like ACI Group are increasingly restructuring to establish flatter organisational structures. Beyond the environment of the domestic organisations, the benefits

package in multinationals are much more incentivised, rewarding performance through bonuses and detailed feedback for self-improvement. This facilitates progress within the multinationals at a faster rate; which in turn is the reason why when the multinationals reach out, they can always recruit the best talent in the market. The domestic benefits packages on the other hand are perceived to be owner-centric and the rewards trickle down from the success at the top of the pyramid.

Perhaps the most obvious difference between multinational companies and the local conglomerates is the brand image they possess. The multinational companies emanate a certain gloss; their ideas are bright and engaging and are almost always new to Bangladesh. These elements appeal to the next generation who have been connected to the global environment since birth. In contrast, the local companies appear bland and draconian. They are littered with whispers, sometimes shouts, of corruption and a perception that these

Multinationals have changed the expectations of the prospective workers and have set a benchmark domestic organisations are now pushing towards. This change is a must for todays graduates. l Nakibul Hoq is a Research Analyst at GradConnect, an international career information and advisory firm. You can email him at nakib@grad-connect.com. Naiian Yazdani is the Director of Strategy at GradConnect. You can email him at naiian@ grad-connect.com and find more career information at www.grad-insights.com and www.grad-connect.com

Touch base with idioms

Career Desk n
At a premium - at a high price; at a relatively high price Back-of-the-envelope calculations - quick calculations; BIZ estimates using apVocab proximate numbers, instead of exact numbers Belt-tightening - reduction of expenses Bite the bullet - to make a difficult or painful decision; to take a difficult step Bitter pill to swallow - bad news; something unpleasant to accept Brownie points - credit for doing a good deed or for giving someone a compliment (usually a boss or teacher) Cash in on - to make money on; to benefit financially from Crunch time - a short period when theres high pressure to achieve a result Drum up business - to create business; to find new customers Fast track a project - to make a project a high priority; to speed up the time frame of a project Jump the gun - to start doing something too soon or ahead of everybody else Keep ones eye on the prize - to stay focused on the end result; to not let small problems get in the way of good results Keep something under wraps - to keep something secret; to not let anybody know about a new project or plan Nothing ventured, nothing gained - If you dont try to do something, youll never succeed. On top of trends - modern; aware and responding to the latest tastes Pass the buck - to shift the blame; to blame somebody else (To) plug (a product) - to promote a product; to talk positively about a product Pull ones weight - to do ones share of the work Put a stake in the ground - to take the first step; to make a big move to get something started; to make a commitment Step up to the plate - to take action; to do ones best; to volunteer Work down to the wire - to work until the last minute; to work until just before the deadline Work out the kinks - to solve the problems Yes man - an employee who always agrees with the boss or does whatever the boss says

A hands-on approach to managing conflicts at meetings

Ahsan Sajid n
There are conflicts which ruin organisations, and conflicts which save them. Anyone who has attended more than one meeting has experienced some amount of tension in the room. Sometimes such tension between colleagues is actually a good thing conflict is not only exciting and energising, but a catalyst for great ideas. However, more often than not, conflicts deflate the teams spirit and hurt its progress and morale. The same conflict that motivates one to think outside of the box can also make their thought process stagnant with the idea that everybody else is wrong. Furthermore, it takes little to nothing for a professional difference to turn to a personal issue. If youre in a tense meeting and conflict is imminent, what can you do? Whether you are conducting the meeting or are simply participating, following are a few suggestions to address conflicts directly and nip it at the bud. derlying problem behind such a conflict should be separately addressed.

Prevention is the key

The best way to resolve a conflict is to prevent it altogether. If you are conducting the meeting, make sure it is tightly structured email everyone the meetings agenda beforehand so individuals have fewer opportunities to push personal agendas. If you are simply participating, keep the focus on the objective at hand by reminding the group when they seem to be straying.

Types of conflicts
To stop conflicts, one must understand the two major kinds of conflicts that may arise at a meeting professional differences and personality clashes. Conflicts most commonly arise from professional differences in opinions, and more so when the outcome is of extreme importance. More often than not these differences never become full-fledged conflicts unless the outcome is important, the decision being made cannot be reversed, or when the decision is going to impact everyone in the meeting. Such conflicts sour working relationships when left unresolved and can fast become a different and more personal kind of conflict. Less commonly, conflicts take an uglier shape when individuals or different departments participating in a meeting do not like one another, or one group or individual feels threatened by another. These conflicts are really more to do with personality issues than with facts or professional opinions. While they can be similarly handled, the un-

When conflict happens it is best to end it at the source instead of letting it grow bigger than it needs to be. Do not simply react to a problem; address it before it becomes one
If there are attendees in the meeting who have a reputation for causing conflict, one needs to be alert from the get go. Conflicts also arise in groups where individuals struggle and vie for influence without having established effective ways of working yet. The simplest way to overcoming these problems is by introducing a number of rules. 1. All attendees will be allowed to speak only after raising their hands, or in some way signalling that they have something to contribute. 2. Everyone will be invited to contribute at the end of each individual item on the agenda, to ensure no one hijacks the discussion. 3. One person will summarise the entire meeting, to ensure that all attendees are on the same page.
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When conflict happens it is best to end it at the source instead of letting it grow bigger than it needs to be. Do not simply react to a problem; address it before it becomes one.

Sensing disagreements
Body language is the biggest giveaway for someone who is about to disagree with an issue. They may be shaking their head, rolling their eyes or fidgeting and being nervous or restless. Looking at others in the meeting to see where they stand. Staring at someone with a frown or intimidating expression. Whispering to others to seek approval for the potential disagreement. changed so that a consensus may be reached. Remove perceived threat: One of the biggest reasons that conflicts occur in a meeting is because of perceived threat. This is ubiquitous in nature animals attack when they perceive a threat. The conflict may be arising because someone may feel that the discussion is putting their position or reputation on the line, or hampering their chances of enjoying a free weekend or a festival bonus. This kind of conflict may be addressed through a strict agenda, as mentioned earlier. If everyone is on the same page as to what the meeting

seeks to discuss, what the objective is and what is expected off it, a lot of individuals may relax a little and not jump in at every speed bump. Set up another meeting: Sometimes it may come to pass that a conflict at a meeting is simply irresolvable or that it is an issue that cannot be freely discussed amidst all the current meeting participants. In this case, the conflict needs to be acknowledged, and a future meeting should be set up, preferably on the same day, to only address the issue at hand.

Conflict resolution
When your best efforts to prevent conflict have failed, you may use the following conflict resolution techniques to calm the situation. Depersonalise: Through this technique, one phrases an issue of conflict to take focus away from any individual, or group and directing it towards the issue itself. For example, instead of saying that one person is simply better at the job than another person, a better way to put it would be to say that while both persons have strengths, ones strengths are more in line for the issue at hand. The focus is directed towards the issue at hand and the individuals strengths, instead of themselves. Question: Turn every conflict into a question. Instead of allowing meeting attendees to simply state that they disagree with something, ask them to find a way out of it through research, brainstorming, etc. Ask for suggestions for how the disagreeable idea may be

Some conflict should be expected

The best way to avoid conflicts in meetings is to prepare for it properly. It is good to know exactly what the meeting entails, and not get derailed. Develop an atmosphere where individuals may comfortably state their problems and issues. It is not possible, nor required, to make everyone happy or get everyone to agree, it is important to remember this. If everyone has had a fair chance to offer their professional opinion at the meeting, and everyone has been a part of the process equally to reach the meetings objective, it has been a successful meeting. l

Keeping an eye out for it

When a conflict is due to real professional differences instead of a personality clash or power struggle, it is best to have individuals air their grievances as soon as possible. If youre sensing disagreement brewing, make sure that people have the opportunity to express this disagreement first before moving on to a different issue. The discussion should not proceed with a number of meeting attendees dissatisfied with it. In the following section, we are discussing conflict resolution approaches.

Ask yourself
How can I harness the positive force of the conflict to generate better results? How can I keep it from getting personal? How can I get everyone to accept a consensus that isnt unanimous? Can I mitigate conflicts by being particular about attendees?