First tip: Don’t blame yourself for getting laid off . FIONA LIAW gets advice from experts and women who bounced back from the worst.
First tip: Don’t blame yourself for getting laid off . FIONA LIAW gets advice from experts and women who bounced back from the worst.
In 2008, Michelle Ng, then 38, had a job she loved as an executive assistant at an asset management fund. “I loved my bosses and my team. I thought it would be my last job,” Michelle recalls. But one day in December, the principal of her fund marched into the office with the human resources director.
The entire team of almost 20 people, including Michelle, was laid off on the spot because of the financial crisis. For a mother of three with two mortgages to pay off , it was a nightmare. For 51-year-old Prunella Ong, now a property agent at ERA, being laid off came as less of a surprise. In 2009, she was working as the national manager of a health carerelated company when she saw senior management being retrenched bimonthly to save costs, and suspected that it was a matter of time before it her turn came.
Yet, when the news hit the day before she was due for surgery to remove two fibroids – surgery she had postponed for two years to help her company grow – she was horrified at the timing. Under Prunella’s leadership, the company had grown from making between $40,000 to $60,000, to more than a million a year – yet her track record didn’t save her from the axe.
Know the
Realities Michelle’s and Prunella’s experiences may be increasingly common. The latest figures from the Ministry of Manpower show that a record 4,800 workers were made redundant in the second quarter of 2016 – the highest figure since 2009. Reports from the Authority of Singapore (MAS) indicate that professionals, managers, executives and technicians (PMETs) account for almost two-thirds of layoff s, with the manufacturing and electronics sectors showing the greatest contraction.
According to Richa Sharma, manager at recruitment firm Page Personnel Singapore, women in the financial services sector tend to be the most affected. With companies in the industry experiencing restructuring, relocation or mergers, femaledominated roles like office support and secretarial positions are often the ones that become redundant. “Certain businesses can’t justify having two office managers or senior administrators when they undergo a merger, hence the ones running the operations are always most at risk,” she explains.
For the retrenched, getting back on their feet is often difficult. An MAS report shows that re-entry to the workforce has fallen from 50.5 per cent just six months ago, to 45 per cent – the lowest since 2009. This is in part because of overall job market contraction, but also, Richa says, because of a perception that some candidates lack the necessary and most up-to-date skills.
Challenges abound even for those who do find a new job. For one, they may not find work that meets their expectations. Despite securing a contract role as an executive assistant at UBS within a month – albeit with a 40 per cent pay cut – Michelle was unable to convert to a full-time position for over a year.
It was almost two years later, after trying her hand at property and human resources, that she found her way back to the financial industry as an executive assistant at Proterra Investment Advisors (Singapore), an organisation with a focus on private equity investments.
Steel Yourself Emotionally
Being retrenched can be emotionally scarring. Karen Tok, 44, knows that all too well. She was first retrenched in 2001 when the start-up she was working at closed down. She found employment at another, only for the new company to also fail and retrench her within that same year.
At 29 years old and with a strong sales background that trained her to withstand rejection, Karen started her own headhunting and recruitment firm, Scientec Consulting, to help other job seekers. During the dot-com bust, she met with many VPs and CEOs and realised that many did not bounce back as fast as she had.
“I had a few cases of not just women, but men, who cried when sharing their experience and fear for their financial security as many had a family and kids to support,” Karen recalls. “They dedicated their life to the job and their sense of identity was tied to their titles, but overnight, they became a nobody.” Even when they do find a new job, she says, they find it difficult to regain the confidence they had previously.
She recommends that those who are retrenched take the time to process their emotions and properly “grieve”. Speak to friends or family, and take the time to travel before returning to the job hunt with a clear mind. Karen adds: “Retrenchment has nothing to do with you; it is a business decision.”
WARNING SIGNS YOUR JOB IS ON THE LINE
Your company recently underwent a merger or acquisition This may indicate that some roles will be made redundant.
Demand for your company’s products and services is declining Sure-fire sign that management will need to start cutting costs… and jobs.
You’re excluded from core meetings and department e-mails The secrecy may be because your management doesn’t want you to be privy to certain details. It’s a good idea to find out why.
More of your work is being outsourced Reliance on third-party vendors means you are becoming less valuable.
YOU’VE BEEN LAID OFF. NOW WHAT?
STEP 1: BUST SELF-LIMITING MYTHS
Myth #1: It’s my fault It isn’t. In fact, people who are retrenched are often performers, says Paul Heng, founder of Next Career Consulting Group, which provides emotional and practical support to job seekers. They were simply “victims” of business changes beyond their control, such as their role becoming redundant.
Myth #2: I’m too old for a new job “Have an open attitude to learn, and put aside your ego,” says Chan Ngee Key, career coach at Springboard Talent. This is especially so for roles that require employees to be digitally savvy – older staff should make an effort to learn these new skills.
Michelle agrees: Her age and lack of knowledge did not stop her from giving real estate a try when she was retrenched – she studied for the course to become a property agent and asked experienced agents for advice. Now 47, she is taking an international compliance training course so she can add value to her company.
STEP 2: KNOW YOUR WORTH
Research Your Rights
Ministry of Manpower regulations specify that upon retrenching their staff , employers must pay all salaries, including unused annual leave. There is also a minimum notice period that ranges from a day for those who have worked approximately six months to four weeks for those who have been with the company five years or more. Refer to www.mom.gov.sg.
But Nicole Wee, associate director at TSMP Law Corporation, who handles employment disputes and advisory work, cautions that the law does not obligate employers to make retrenchment payments, unless it is specified in their contracts – even if the company has made retrenchment payments in the past.
STEP 3: GET BACK ON YOUR FEET
Send Out Your CV
• Do not just talk about what your role was, Ngee Key says. “Roles and responsibilities do not equate to success or accomplishments,” he adds. Create a narrative and help the hirer see how what you have done can help them in their business needs.
• Do cast a wide net, Karen says. Too often, people send out a few CVs and get demoralised when they don’t hear back, thinking they aren’t “good enough”. “Send out 20 to 30 a day for a few days,” she suggests, and do a follow-up call with those you are keen on. When she was looking to switch industries, she sent out 50 CVs a day for five days straight – and only heard back from one company.
Prep for the Interview
• Do not dwell too much on past accomplishments without telling the interviewer what you can offer, Ngee Key says. For instance, just telling a hirer you managed a team of 20 people does not give them any indication of the team’s working relationship. “Specify your outcomes and explain how this applies to the new employer,” he explains.
• Do go in for the win. The goal of an interview is to come back with a job off er, Paul says. He finds that most women have a tendency of “trying their luck”, which is not sufficient in the competitive job market. “Approach the interview as if it is the only one you’ll have for the next six months,” he says. The “hunger” will force you to give 110 per cent.
CAN YOU RETRENCHMENTPROOF YOURSELF?
NO JOB IS SAFE, BUT DOING THESE THINGS WILL ENSURE YOU HAVE OPTIONS.
Network Now
And not only when you’ve lost your job. The best networking is carried out when you are gainfully employed, says Ngee Key. Connect with potential employers say, over a coffee, just so you remain on their radar.
Upgrade Constantly
Continually learn new things and go for training to ensure your skills are top-notch, says Paul. The more you know, the more integral you are to the company’s operations, and the harder it is for them to get rid of you –so make use of your Skillsfuture credits.
PLANNING YOUR FINANCES AFTER LOSING YOUR JOB
Have a good insurance plan… After retrenching her, Prunella’s company would not cover the surgery she was due for the next day. Having a hospitalisation policy really helped, she says. … But be practical. Michelle’s family had several insurance policies, but after she was retrenched, she cut down on the ones she felt would not be crucial. She suggests creating a comprehensive checklist of activities and costs to see which policies can easily be removed.
HELP IS OUT THERE!
• An initiative of the National Trades Union Congress (NTUC), e2i supports nationwide manpower and skills upgrading initiatives through workshops and networking opportunities. Check out https://e2i.com.sg for more information.
• Caliberlink was established by Workforce Singapore (WSG) to help professionals enhance their careers through workshops, programmes and network initiatives to improve their job search skills and employability. See www.caliberlink.gov.sg for more information.
• The Career Support Programme is an initiative by WSG that gives PMETs who have been unemployed for more than six months access to jobs that pay more than $4,000 a month and provide on-the-job training. For more information, refer to www.ssg-wsg.gov.sg, or call the WSG Career Centres at 6883-5885.
• The Career Activation Programme is an initiative that runs in tandem with NTUC U PME Centre’s careercoaching services and support. It involves a peer-to-peer programme that arranges monthly meet-ups between mature unemployed PMEs and volunteer life coaches. See http://bit.ly/2eevZwd or visit www.ntuc.org.sg/pme/contact to find out how to participate.
PHOTOS MASTERFILE & 123RF.
