There are many reasons why bright and highly competent professionals choose to work for family businesses over working for global MNCs.
One of the most common reasons that professionals join family businesses is to be close to the seat of power. It is the nature of the family business that key professionals get maximum exposure to the family. This is a source of satisfaction for many professionals for whom a personal touch is important. Being able to influence significant outcomes is more satisfying for some people than doing it themselves. Being king maker is more powerful than being king. In global MNCs actual personal contact with the CEO is rare indeed even for many senior managers. In a family business it is almost daily and at a close personal level.
Another common reason is generally a slower pace of life and more rational working hours. As technology becomes our slave-driver instead of being our servant, this is more and more true. Most managers who work for global MNCs in the East have superiors, key clients and even colleagues who live and work in the US or Europe. So, conference calls which are ideally suited to their timing are the norm. That means the Indian manager must be hooked onto his computer talking shop while all others about him are eating dinner or playing with their children or fast asleep. Yet next morning he must be back in his office in India at 0830 like every one of them.
Another reason is the traveling. Once again it is the Easterner working in the global MNC who does most of the travel. More so as travel has become more and more odious and less pleasurable with all the security considerations. ‘Going abroad’ which used to be a major reason why young professionals joined global MNCs soon wears out its novelty and becomes a drudge. It is not just common but an expectation and a norm that someone from India will take a non-stop or connecting flight to the US (18 – 20 hours), land in the middle of the night in his hotel and be ready to attend a meeting at 0800 am the next morning, bright eyed and bubbly and never mind the jetlag. I have done this myself enough to know from experience how much of a toll it can take on you. One does it for a while for a lot of reasons, but after that?? So people look for jobs where the only travel they will do is from home to office every day or at the most a couple of convenient domestic flights a month.
It is a no brainer to say that there is no family in the world that can continue to provide all the knowledge, talent and energy it needs, to fuel the growth and development of their business, indefinitely. Yet it is amazing to see the usual reluctance to bring in outside talent, even when it has become abundantly clear that the business will flounder if the knowledge and skills that are needed are not provided in a timely manner.read more
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