The rate at which CEOs & CXOs are quitting MNCs to join promising Indian companies makes us ponder about the work culture similarities that MNCs share with Indian PSUs.
Like Indian PSUs, MNCs too have bureaucracy promoting procedures, systems, controls & processes. A bureaucratic workplace culture could leave employees stagnant & unproductive.
Time taking processes
Formal rules are laid down for each process. There is so much time wasted in processes itself. This exasperates the employees at times when quick outcomes are required.
Influence on decisions
Restrictive regulations in MNCs & PSUs make it very hard even for the top employees to make decisions. They do not get to work closely with the decision-makers. For each small or big decision, there are complex channels.
Lack of ownership in employees
Not working closely with the promoters of the organization curbs the sense of ownership within the employees. In MNCs, even as country heads, you are far away from the headquarters and the same applies to PSUs too where you hardly care about the owners or promoters.
Absence of Transformational Leadership opportunities
With standardized procedures for everything, there is hardly any scope for out of the box thinking for leaders. This does not satisfy the entrepreneurial risk appetite of top executives. The scope for innovation becomes very low at work places where leaders are not empowered.
In this technological age, it is time for MNCs to rethink their work culture related processes and make them easier with the help of new cutting edge HR practices & techniques.