MAKING A CAREER move from a multinational firm to a family-owned company may cause people unnecessary trepidation due to common misconceptions. Concerns such as growth opportunities, job security, stock options or working with multiple family members may come to the forefront.
Why employees make the transition to work at a family-owned firm was the focus of an employee brand initiative at Dah Sing Financial Group.
Three years ago, the family-controlled group began a study to find out why staff had joined and remained with the company, and how potential employees perceived the Dah Sing brand.
The process consisted of talking to senior managers to identify why they had joined Dah Sing from multinational companies. Group discussions were also held with existing and potential employees and other banks to find out their perceptions of the company.
'Challenge and opportunity were the two main attractors,' said Evan Chan Kwai-ming, general manager and head of the human resources division for Dah Sing Bank.
Since the company was small and few key people took part in the decision-making process, Dah Sing could move fast and stay agile and dynamic. The research results indicated that Dah Sing was perceived to have a challenging and dynamic work environment and to foster a culture of intellectual freedom.
According to Mr Chan, there are several advantages to working at a family-owned financial institution. A family-owned business tends to value competency, loyalty and length of service.