Business life in Turkey has been progressing in leaps and bounds in various sectors which is ultimately growing their economy with each passing year. In this short article, you will understand business life in Turkey in its fullest sense.
Business Life in Turkey
The growing infrastructure and development across various parts of the country have also made the real estate sector expand multifold, which directly allows more domestic and foreign companies to base their headquarters in Turkey to benefit from a larger consumer base. It’s also good to mention that supply-demand is very high in Turkey and it’s increasing each year.
Turkish business life is not dissimilar to that of other Mediterranean nations. However, in Turkish business life, a few essential criteria are extremely important. In order to succeed in Turkey, foreigners must build relationships based on; trust, respect, and commitment. You may protect your business connections by earning the trust and respect of your business partners and demonstrating your loyalty.
Related Article: Is Turkey a Safe Country for Business?
The Turkish Business Life
Business life in Turkey has certain key points about it, in which living in Turkey is a great choice for employees and foreign investors alike, and when we also consider that the cost of living is low in Turkey, aside from all the economic and infrastructure advancements. Everyone should be aware of it, even if their cultures aren’t all that unlike those of the Mediterranean nations.
In Turkey, business connections are highly personal. Turkish individuals will not hesitate to conduct business with people they trust and know, but they would prefer to learn more about their international counterparts before forming long-term partnerships with them. Strong personal bonds will aid in the development of even stronger commercial bonds. Turkish entrepreneurs may be suspicious of you if you are impersonal or aloof.
There is a hierarchy in business life in Turkey: Many Turkish enterprises are controlled by families, and the workplace is hierarchical. The younger members of the family usually host the first sessions, but you will eventually work your way up to the family’s leader. Because the Turkish workplace is highly traditional, you will benefit by respecting their natural process and refraining from utilizing any deadlines or pressure methods. The firm owner, director, general manager, or supervisor is frequently the decision-maker.
Power Structure in Business Life in Turkey
The workplace will often be traditional where the business is run by members of the family, both young and old at ascending positions of value respectively. Thus, you should be courteous and sincere to all the people in the workplace.
Due to its fast-increasing youthful population, qualified workforce, and geopolitical location, Turkey provides several chances for investments. Knowing the general features of the Turkish people will help you adjust to business life in Turkey. Of course, no generalization can be made about any country, but there are a few things you should know about the Turks before doing business with them.
Business Life in Turkey: A Bargaining Culture
Bargaining is common in Turkish bazaars and when you’re asked or requested for a bargain by Turkish colleagues and partners, then you must be at least willing to negotiate prices and terms.
Bargaining is a crucial aspect of Turkish business life. When shopping, you may be able to find a product for a lower cost than the label price. You can bargain in bazaars and marketplaces even though there is no acceptable technique of negotiating in businesses that follow a single-price policy. You are expected to be a part of this culture in the workplace. If your Turkish partners ask for a discount, you should be prepared to discuss the price.
Timeliness & Attire Ethics are Crucial
Business meetings should be arranged in advance and are also discussed over dinner so arriving at both places on time is a must. Also, make sure that in a working environment you are dressed appropriately to look presentable at the least.
Turkish people place a high value on time. As a result, planning your meetings ahead of time and appearing on time for meetings would be a huge plus for you. Business meetings can be held in offices, but most business discussions take place over meals or lunches at restaurants. It’s really customary for the host to pay; otherwise, it may be perceived as an insult; thus, you may let the host pay and reciprocate the gesture the next time.
Meetings are Sometimes Cordial
Business meetings might include an introductory small talk at the start, and could be longer overall, so paying attention is important as is greeting the senior members first in the room before approaching younger members.
Sensitive Topics of Conversation to Avoid
Although Turkish people are friendly and you might see culturally diverse people from around the world in the same workplace, discussing politics, religion, sexual orientation, and so on are strict no and should be avoided.
You should not inquire about the salary of your working friends: It’s rude to ask about people’s salaries in Turkey. As a result, it is best not to inquire about your coworkers about the salaries they have paid to their employees.
Business Life in Turkey – Working Hours
As opposed to the work time of approximately 40 hours per week in most countries, Turkey observes 49 hours per week of work time, which means it might be harder to adjust initially but adapting to it gradually is possible.
In Turkey, employment is largely controlled by labor and trade union regulations, which limit the maximum working week to 45 hours, evenly distributed throughout the number of days worked. However, working hours may be set by the employer within legal restrictions, according to the Labor Law. In Turkey, there is no such thing as a normal workweek, notwithstanding the law.
Government agencies, offices, and banks are open Monday through Friday from 8.30 a.m. to 12:30 p.m. and 1.30 p.m. to 5:30 p.m, there is a lunch break at noon for one hour. Shops are typically open from 9 a.m. to 7 p.m. on weekdays and weekends. In some places, the working day starts at 7 a.m. or 8 a.m. and ends at 2 p.m. during the summer months.
Absence of Discrimination
Turkish people are kind, hospitable, and accepting, therefore, they do not differentiate between people based on their ethnicity, color, etc.
Bribery is not welcomed culturally by Turkish people and is subjected to serious penalties; thus, avoid it altogether.
Related Article: Central Business District in Istanbul.