Effective ways to overcome retrenchment in Singapore

Retrenchment is a process where companies let their employees go because of redundancy or the company’s inability to keep their staff because of financial challenges. Retrenchment happens every day in the modern world, and it has increased its rates recently due to the Covid-19 pandemic. Retrenchment does not only happen to people around you; it might happen to you too. It would be great to sit down and think about what would happen to your loved ones if you lost your job or source of income. Retrenchment is different from being fired from your job; it occurs due to factors beyond our control. Such factors include job functions like moving overseas, the decision by the management, economic climate, among others.

The Singapore Counselling Centre says it has a 40% increase in people seeking counselling due to retrenchment. Most clients have mixed emotions after losing a job mainly because they have lost;

  • A daily routine and lifestyle
  • A social connection with their workmates
  • A sense of identity and purpose
  • Financial security

Most of these clients lose hope and see that life has no meaning after these events occur, but our team of experts makes sure they brush off any evil thoughts away from them. So, you will know how to deal with all these negative issues if you face retrenchment in Singapore.

How to deal with retrenchment

1. Keep looking for a job.

It would help to look for a job if you still want to put your past days behind you. Avoid the thought that you might end up losing that job, too, like most people. It would be best to remain positive and know that it is not your capabilities that got you retrenched but the market demands.

2. Work on your brand

You might feel like your skills and knowledge are not relevant after retrenchment, but you should avoid those thoughts. Instead, it would be great to trust your talent and check to see if it is still helpful in the market.

Suppose you see any gaps and have financial freedom, then you can take up a course to get more enlightened. This enables you to meet the market demands and go all out when looking for a new employer.

3. Have strong networks

Retrenchment knocks your confidence significantly, and it is at such a time when it gets essential to keep open-minded people close to motivate you. It would also be great to keep your networks at heart, including people with job opportunities or well-connected people. So please keep inquiring from your friends about new job openings and look out for jobs yourself

Conclusion

Retrenchment is the last thing you would want to happen to you; it is a process whereby a corporation or administration decides to cut off its employees to avoid financial strains. However, with the proper guidance, you will go back to your everyday life.

The above article is armed with tips to help you see through this challenging period and bounce back to the working world like you never left. Such include having strong networks, rebranding yourself, among others.

 

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Useful Employment Support Guides (that you probably didn’t know) on LifeSG App

The coronavirus pandemic has upended the lives of many families and caused a loss of jobs. To help retrenched workers and jobseekers, GovTech collaborated with Workforce Singapore (‘WSG’), e2i, TADM, TAFEP and SkillsFuture Singapore (‘SSG’) to develop new modules on the LifeSG App (rebranded from Moments of Life). These employment support modules take a user-centric approach to show relevant information in a bite-sized manner that is easy to understand for the everyday man on the street. It informs target audience on the assistance and job opportunities available to them. Simply look for these modules under “Discover your next career steps and find support” section under the home page of your LifeSG App.

Here’s a summary of each employment support module that you will find on LifeSG App and how they can be of help.

1. Know Your Retrenchment Benefits and Measures

Workers who have been retrenched or are at-risk of retrenchment may not be aware of the resources available to help them during this difficult period. They may also be unaware of the benefits due to them when faced with an impending retrenchment. Some of the benefits that retrenched workers may be eligible are the following:

  • a notice period,
  • retrenchment benefits,
  • alternatives to retrenchment, and
  • help in finding a new job

As employees, it is critical for us to understand our rights so that we know what precautions to take and what to do if there is a dispute.

2. Support for Your Job Search

The “Support for your job search” module helps retrenched individuals and job seekers to:

  • Find opportunities for new jobs via career fairs, access government support schemes and convert existing skills to make a mid-career switch. These enable the job search process to be more efficient, as well as increase the number of job opportunities that they can access.
  • Access customised advice and forge career plans from career coaches at WSG, e2i etc. These professionals will help you to understand your personality, area of interests as well as strengths and weaknesses. All these are useful to guide you to better understand your career objective in life
  • Explore courses to upskill/reskill to ensure that you are always ready for your next role in this fast-changing world. Armed with the relevant professional certifications, you will be one step closer to landing the job that helps you achieve your career goal.

Do not underestimate the toll that every unsuccessful job application takes on a job seeker’s morale. Therefore, having a well-thought-out strategy advised by the professionals and executing it is half the battle won in your job search.

3. Financial Support for Workers and the Self-Employed

Ever since COVID-19 struck, the Singapore government has been quick to dole out relief measures to provide financial support in an unprecedented manner to ensure that no one is left behind. This specific module is handy in allowing individuals across the different employment categories to browse the various listings of government agency schemes and COVID-19 relief measures:

  • Unemployed (including retrenched) individuals
  • Lower-income individuals
  • Individuals with reduced income
  • Self-employed persons

Here is a case study of how an unemployed individual can tap on the various government agency schemes and COVID-19 relief measures to tide him through this difficult period. Mr Tan is a 40-year-old Singaporean who works in the travel industry. As a result of the COVID-19 pandemic, he has been placed on involuntary No-Pay leave by his company. He can apply for the COVID-19 Support Grant and receive up to $800 per month for 3 months which would be credited directly into his bank account. In addition, he can receive Job and Training Support by Workforce Singapore (WSG) or The Employment and Employability Institute (e2i) to help him upskill and reskill. This allows him the option of convert existing skills to make a mid-career switch should he decide to. Understanding the various schemes and grants available to him, he can conveniently apply for them online via the mobile app.

With information organised in a succinct manner, it is easier for them to know what financial schemes they are eligible for, as well as information on the application process. This ensures that those who need financial aid gets them in the shortest possible time so that the disruption to their daily lives is mitigated.

https://articles.life.gov.sg/financial-support-workers-self-employed/

Scan the QR code for more articles on the type of support available for Singaporeans affected by COVID-19.

Download the LifeSG App Today

Government has set aside plenty of help so that Singaporeans can tide through this pandemic and emerge stronger. Download the LifeSG App today to get a firm grasp of this helpful information. Also keep a look out for more features related to providing employment support that will be rolled out in subsequent phases.

https://go.life.gov.sg/XwD9

Discover your next career steps and find support with the Employment Support modules on LifeSG App!

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When Is It Okay To Sacrifice A Bigger Paycheck?

Congratulations! You have been offered the position that you have been pining for. During your final interview, you realized that the starting salary is less than what you expected. It is completely normal to feel disappointed at first. But, you must not dismiss a job offer because of the relatively lower paycheck.

Do not get me wrong! I am not advocating the acceptance of an utterly ridiculous offer. All that I am sayings is that there are some scenarios where a lower paying position can pay off in the long run. Here are just some of them:

#1: WHEN THERE ARE OPPORTUNITIES TO GROW

Just because your current position pays lower than expected, does not mean that you are going to be stuck in a low paying role for a lifetime. A low paying position may be used as a stepping stone for something much brighter. For instance, many bank employees agree to contract roles for a chance to be converted into permanent staff.

Other institutions provide opportunities to jump to different departments as they do not want their employees to be stagnant. Alternatively, you may use your acquired skills and experience as a leverage for the next company that you will apply for. You can get paid more as an “experienced” candidate.

#2: WHEN YOU WANT A CREDIT BOOST

there are two ways to boost your credibility without having to accept a bigger paycheck. One way is to apply for a recognized company and the other is to take on an impressive job title. Let us start with the former.

Notice how employable a person is when he or she comes from a multinational corporation such as Microsoft, Adidas, and Kia Motors. It is usually a good idea to accept a relatively lower pay to reap the benefits of a company name in your CV. But, be sure to move on to the next company when the right time comes.

The latter involves a flashy new title. Say you have been a sales associate for several years. Becoming an administrative officer for the same company seems like a breathe of fresh air. Although you will get paid similarly (or even less), you prefer a new title to gain more respect within the company. To other people, this compensation is enough.

#3: WHEN YOU ARE MAKING A CAREER SHIFT

A friend of mine has been in the retail industry since she graduated from a local university. In her early 30’s, she began to seek fulfillment beyond raising a brand’s sales. She became a preschool teacher. The starting pay was lower than what she expected, but she accepted it. You see, one of the major reasons why employees settle for less pay is because they are switching into different industries.

As the founder of an HR company called T.R. Ellis Group once said: “It’s unreasonable to expect to receive top dollar when you move into a role where you have little to no experience.” Think about the training expenses the company has to shell out just to broaden your skill set!

#4: WHEN THE BENEFITS ARE BETTER

I will let you join my trip down the memory lane. My first job did not include dental or medical benefits. I had to tap into my savings whenever I get sick just to get a medical certificate from the family doctor. To my delight, all these benefits were wrapped around the bow of my succeeding positions.

Perhaps you have to sacrifice a bigger paycheck for a job that covers your graduate studies or your travel expenses (e.g., flying overseas once a month). Workplace benefits may not appear as cash sometimes. This is why you have to look at the entire picture.

Image Credits: pixabay.com

Image Credits: pixabay.com

Sources:  1 &2

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Impress Your Future Employer By Asking These Questions

Most of the Singaporean interviewers that I encountered gave me the opportunity to ask a couple of questions after they were done grilling me.

Asking great questions can help you stand out from the crowd! So, you better come prepared.

WHAT MUST AN IDEAL CANDIDATE HAVE TO THRIVE IN THIS ROLE?

You need not be a people person to have the significant realization that most people appreciate being actively heard. Opening with this question exudes that you have a basic grasp about what the role entails. And, you want to widen your understanding. Keep the conversation flowing by asking on the specific skills and qualities that are needed to become successful in this role.

If the interviewer responds in an enthusiastic manner, you may have an opportunity to discuss more about your background.

WHICH DEPARTMENT AM I SUPPOSED TO BE WORKING WITH?

This stimulating question lets you learn more about the organization. The interviewer will enlighten you about the company culture and your immediate colleagues. If you dislike the “type” (i.e., large or small group) of people who you are working with then, you may not fit well into the organization. A simple query such as this may help you to determine whether you must pursue the position or not.

Acting curious and interested can help you engage the attention of the interviewer.

WHAT DO YOU ENJOY MOST ABOUT WORKING HERE?

Most people love to dwell upon the topics which revolve themselves. I am not saying that Narcissism is prevalent, nor am I saying that being conceited is normal. It is undeniable that we are typically interested in sharing our own thoughts and experiences. Ask this question to encourage the interviewer to disclose in a positive manner.

This question shatters the exterior wall of the company as it highlights the inner culture. It allows you to absorb certain information that is hard to assess from the outside.

HOW CAN I CONTRIBUTE TO THE SUCCESS OF THE COMPANY?

Some candidates have this “brilliant idea” that behaving politely and answering all the interviewer’s questions properly can land them the coveted position. They are wrong! Interviewers can easily forget you if you do not evoke their intellect.

To make your interview memorable you must take the conversation off script and ask sensible questions such as this. Towards the end of the interview, ask how you can potentially improve the company upon receiving the position. This query shows that you are envisioning a brighter future with them.

Image Credits: pixabay.com

Image Credits: pixabay.com

Sources: 1 & 2

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Most Popular Recruitment Agencies In Singapore

Extraordinary – that is the perfect word to describe Singapore’s workforce.

Singapore is a popular destination to many foreign workers and a starting point to some locals who want to further their careers overseas.With that said, the competition is as fierce as can be!

Stand up from the rest and improve your chances of getting hired by seeking the services of credible recruitment agencies. A recruitment agency is a business paid to find suitable workers for various companies and organizations. It plays a vital role in connecting the employers with the potential candidates.

To help you in your quest, here are some of the Most Popular Recruitment Agencies In Singapore…

1. RECRUIT EXPRESS

From its inception in 1996, Recruit Express has expanded their staffing operations across the Asia-Pacific regions. In fact they have offices in Singapore, Hong Kong, Sydney, Taipei, Shanghai, Beijing, Tokyo, Kuala Lumpur, and Bangkok.

Listed as one of the top Singapore agencies at JobsDB.com, Recruitment Express uses their vast network of resources and extensive database to match the right people to the right organization within the shortest time.

2. CAREERHUB CONSULTANTS

A relatively new agency established in 2011, Careerhub Consultants has been ranked as one of the best Headhunter in Singapore by Dougles Chan. Dougles Chan is the author of Financial Success in Recruitment Industry and Job Seeker Power Manual).

Image Credits: pixabay.com (CC0 Public Domain)

Image Credits: pixabay.com (CC0 Public Domain)

This recruitment agency offers a myriad of job opportunities in fields such as hospitality, finance, and engineering.

3. AEGIS RECRUITMENT

Aegis Recruitment is one of the leading agencies in Singapore that boasts with excellent reputation. Just take a look at their sleek, neat, and user-friendly website right now. Do you see what I mean?

From real estate to advertising, the Aegis consultants do not just work by “word matching”. Rather, they use extensive methods and prompt actions to ensure that the requirements are thoroughly understood and met.

Image Credits: pixabay.com (CC0 Public Domain)

Image Credits: pixabay.com (CC0 Public Domain)

Although these agencies are potent, you must not heavily rely on them to secure a job. Do not just sit back and relax at home! Put in additional efforts to observe the odds in your favor.

Sources: 1 & 2

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