18 Jul 2023
Working in a multinational company is like a dream come true for scores of Nepalese who travel to developed countries to find jobs, earn a living and send money to Nepal to offer financial support to their families back home.
According to a report by MIDEQ, about 3.5 million Nepalese (around 14% of Nepal’s total population) live and work abroad because the country’s flailing economy cannot accommodate the entire population of employable age.
Opportunities are, however, available across the country, but those cannot be relied upon. The sustainability of most of the available work opportunities is questionable.
This breeds poverty and makes fulfilling life needs a big challenge for a majority of people.
Therefore, an arguably big chunk of the Nepalese travels abroad to ensure they find work in multinational companies, working in which is akin to working in government departments, where, if nothing else, your job is secured, and the sword of losing it hardly hangs over your head.
But, where the thought of getting a job in a multinational company is pretty fascinating, do you know what is a multinational company, what are their different types, and what benefits can you get from serving in a multinational company?
And most important, what it takes to get a job in a multinational company?
Well, these are important questions whose answers this blog aims to provide.
Continue reading to know the answers you have not known for long with smart bits of some less-known and unique facts about Nepal.
Also known as (aka) Multinational Corporation (MNC), a multinational company has a business that operates in at least 2 countries – one in the native and one in another.
Some other definitions describe a multinational company as a business that generates 25% of its revenue outside its home country.
A multinational company has offices, facilities, factories, etc., around the world with a centralised headquarter to coordinate global management and its operations.
The four main types of multinational companies are as follows:
A decentralised MNC has a presence around the world, with its head office in the home country. Its other offices enjoy a certain level of autonomy in making their own decisions but in compliance with the broader company policy.
A centralised MNC has its main office in the home country, with managers and second-tier management overseeing the operations and activities in regional offices. Every policy decision flows downward from the top, with lower management bound to seek approval for every activity from the top management.
It is a division that oversees all the international operations of an MNC. Its main objective is to facilitate coordination and ensure smooth communication among different offices of a particular MNC.
A transnational MNC involves a parent-subsidiary structure. This subsidiary can be another brand also. The parent company oversees operations in the home country as well as in foreign countries where the business operates.
Finding a job in any of these MNCs as a Nepalese migrant can be of help in supporting your family back home through a money transfer to Nepal.
Let’s take a look at the economy of Nepal and inward remittances to understand why Nepalese travel abroad for work.
These figures indicate that the country has a struggling economy, forcing million to find work abroad.
Find the list of countries that pay the most to expatriates, regardless of their countries of origin, HERE.
Don’t you think it is time you learnt a few interesting facts about Nepal?
You may find it a bit tricky, but following the tips below can make it easier for you to get employed and earn a living to support your family through an online money transfer to Nepal.
You will benefit from working in an MNC in the following few ways.
An MNC allows you to rub shoulders with people from a wide variety of ethnic and regional backgrounds. It helps you learn about their respective cultures and customs you otherwise remain oblivious to. You will also learn and refine new languages if you have already learnt one.
All MNCs invite and encourage your creativity instead of asking you to work within the fixed company policies so long as your creativity adds value to the company.
An MNC does not work in isolation. All the MNCs are connected for professional and competition purposes. This can provide you with a chance to find better professional opportunities elsewhere.
Since MNCs operate globally, they can offer you a chance to travel to other countries. The best part is that your company will sponsor your travelling because you are being sent elsewhere to look after the company’s professional interests.
These are some of the top benefits of serving in an MNC.
Whether you work in an MNC or otherwise, your migration’s purpose is better served in finding a fee-free online financial transaction with live and competitive exchange rates only if you send money to Nepal online with ACE Money Transfer.
FAQs
What are the benefits of working for multinational companies abroad as a Nepalese expatriate?
Benefits can include exposure to international work culture, opportunities for professional growth and skills enhancement, competitive salaries, and the chance to build a global network. It can also provide a broader understanding of the global market and different business practices.
How can working for a multinational company impact my career growth?
Working for a multinational company can significantly impact your career growth. These companies often provide comprehensive training programs, opportunities for promotions and transfers, and exposure to a diverse set of work experiences, all of which can enhance your skills and increase your marketability.
How can working in a multinational company abroad influence my cultural understanding and global perspective?
Working in a multinational company abroad exposes you to a diverse range of cultures, perspectives, and practices. This exposure can broaden your understanding of the world, improve your cross-cultural communication skills, and foster a more global mindset.
How does working in a multinational company compare to working in a local company in Nepal?
Compared to local companies, multinational companies often offer more competitive compensation, more structured career paths, and greater opportunities for international exposure. However, the work environment can be more competitive, and adjusting to different work cultures can be challenging.
What should I consider before deciding to work for a multinational company abroad?
Consider factors such as the cost of living in the host country, the company's reputation, potential language barriers, the benefits package, your readiness to adapt to a new culture, and the impact on your personal life and family. It's also important to understand your rights as an expatriate worker.
Resources
(MIDEQ - Migration for development and equality)
(GDP (current US$) - Nepal | Data (worldbank.org)
(GDP per capita (current US$) - Nepal | Data (worldbank.org)
(Personal remittances, received (current US$) - Nepal | Data (worldbank.org)
