{"id":276298,"date":"2023-06-19T18:24:08","date_gmt":"2023-06-19T10:24:08","guid":{"rendered":"https:\/\/thehoneycombers.com\/singapore\/?p=276298"},"modified":"2024-12-11T12:25:14","modified_gmt":"2024-12-11T04:25:14","slug":"what-to-do-after-being-retrenched-singapore","status":"publish","type":"post","link":"https:\/\/thehoneycombers.com\/singapore\/what-to-do-after-being-retrenched-singapore\/","title":{"rendered":"Dust yourself off and try again: 8 practical ways to deal with retrenchment in Singapore"},"content":{"rendered":"

The global workforce has seen an uptick of quiet quitters<\/a> and waves of the Great Resignation<\/a> in the past year. However, one practice that still frequently occurs today is retrenchment. You would\u2019ve heard about the massive layoffs at Twitter, Meta, Amazon, and Shopee recently. According to the Ministry of Manpower, 4,000 workers in Singapore were retrenched in the first quarter of this year. The last time we hit that number was in 2016 and 2017.<\/p>\n

Being retrenched is a shocking and devastating predicament. Besides losing financial and job security, there\u2019s also your mental health<\/a> to take care of. It can happen to anyone, so here are some things you should do if you\u2019ve been retrenched.<\/p>\n

How to handle retrenchment in Singapore<\/h2>\n

1. Examine your contract\u2019s fine print<\/h3>\n
\"Retrenchment
Photography: Alexander Suhorucov via Pexels<\/figcaption><\/figure>\n

Understandably, you\u2019ll be dumbstruck upon receiving the news. However, it\u2019s essential to clarify the next steps. Look at your contract and confirm that your notice period aligns with what was previously indicated. If you\u2019re asked to leave without notice, file a claim with the Tripartite Alliance for Dispute Management (TADM)<\/a> within six months from your final day.<\/p>\n

You should also request a termination letter from your human resource<\/a> department and review it extensively. Be sure to clarify with them if you have any questions. Take your time to understand the whole process.<\/p>\n

While doing the above, don\u2019t forget to check if you\u2019re entitled to a severance package. According to the Ministry of Manpower<\/a>, the recommended amount depends on your years with the company. You should receive between two weeks and a month\u2019s salary for every year of service.<\/p>\n

2. Keep calm and maintain professionalism<\/h3>\n
\"Retrenchment
Photography: Edmond Dant\u00e8s via Pexels<\/figcaption><\/figure>\n

Retrenchment isn\u2019t the most favourable outcome, but don\u2019t let the news affect your relationship with your employer. Speak to your reporting manager and request a referral letter. And don\u2019t badmouth them<\/a> to anyone! It\u2019s not a good look for you because you might cross paths again. So stay calm and collected, even when you\u2019re feeling dejected and grappling with the termination.<\/p>\n

Plus, you\u2019re still legally bound to your contract even after you\u2019ve left, so make sure you abide by the standard operating procedures. This includes not divulging pertinent information to competitors and following through with the handover process.<\/p>\n

3. Make sense of your dollars (and cents)<\/h3>\n

Financial instability is the main thing you\u2019ll experience after being retrenched. What you have to do now is reevaluate your expenses and prioritise building an emergency fund. Ensure you have at least three to six months\u2019 salary set aside \u2013 you should be doing this while still employed.<\/p>\n

Regularly set aside 15% to 20% of your income in a separate account. This inculcates the habit of saving<\/a>, so if you do ever get laid off, you\u2019ll have money to tide you over while you look for a new job. You can also seek financial assistance with SupportGoWhere<\/a>.<\/p>\n

4. Don\u2019t stop crying your heart out<\/h3>\n
\"Retrenchment
Photography: Shvets production via Pexels<\/figcaption><\/figure>\n

Like a breakup<\/a>, you\u2019ll experience a rollercoaster of emotions after being retrenched. It\u2019ll start with shock and denial, followed by anger, guilt, depression, and eventually, acceptance. Give yourself time to absorb and process everything. Don\u2019t take it personally \u2013 plenty of other people have been and are in the same boat as you. There\u2019s nothing to be ashamed about.<\/p>\n

If it\u2019s too much for you to bear, talk it out with someone you trust. Otherwise, you can consider counselling<\/a>. Each year, the Singapore Counselling Centre<\/a> sees on average 30% of older professionals, managers, executives, and technicians who experience retrenchment. If you\u2019re not ready to meet someone, download a mental health app<\/a> and pour your heart out.<\/p>\n

5. Catch up on things you\u2019ve put off<\/h3>\n

It\u2019s not all doom and gloom after retrenchment. Consider your unemployment period the time to do things you\u2019ve meant to do. Been putting off exercising? Strap on your shoes and go for a run<\/a> or hit the gym<\/a>. Maybe you\u2019re keen on a new activity. Well, now\u2019s the time to pick up tufting<\/a> or pottery<\/a>. Or, you can pack your bags<\/a> and go for a quick getaway<\/a> or visit a new travel destination<\/a>. When was the last time you travelled out of the country, anyway?<\/p>\n

In short, do something that\u2019ll make you smile again. As Elle Woods in Legally Blonde wisely said, endorphins make you happy.<\/p>\n

6. Time for a resume renaissance<\/h3>\n
\"Retrenchment
Photography: Jo\u00e3o Ferr\u00e3o via Unsplash<\/figcaption><\/figure>\n

When you\u2019re ready to put yourself out there again, get your professional life in order. First, update both your CV and LinkedIn profile. Let everyone know you\u2019re open to new job opportunities. Tap into your network for recommendations. And don\u2019t forget to make use of the referral letter when applying for employment.<\/p>\n

Now\u2019s also a good time to reflect on your career choices. Look at your skillsets and qualifications to assess whether you can switch things up with a career change<\/a>. Ask yourself questions such as where you want to work and what position you\u2019re aiming for. If you\u2019ve been dreaming of starting your own business<\/a>, perhaps this is the sign that you should go for it.<\/p>\n

7. Unleash your new potential<\/h3>\n

So you\u2019ve decided on a new career path. What\u2019s next? Use your SkillsFuture<\/a> credits by signing up for courses to level up your skillset. There are plenty of options to check out, such as social media marketing and programming. You’ll attain certification when you\u2019ve completed your training, which you can use when applying for jobs. SkillsFuture can also help you get job placements.<\/p>\n

8. It\u2019s okay to ask for help<\/h3>\n
\"Retrenchment
Photography: UK Black Tech via Unsplash<\/figcaption><\/figure>\n

Job hunting may be an individual pursuit, but that doesn\u2019t mean you have to go about it alone. Workforce Singapore<\/a> provides career advice and guidance to those seeking employment. You\u2019ll be paired with a career ambassador or coach, who\u2019ll enlighten you by identifying your goals and supporting you on your journey. Best of all, this service is free!<\/p>\n

While getting retrenched isn\u2019t the most ideal situation, know that it\u2019s a temporary situation. With these practical steps, you\u2019ll overcome the tide and emerge stronger than ever.<\/p>\n","protected":false},"excerpt":{"rendered":"

The global workforce has seen an uptick of quiet quitters and waves of the Great Resignation in the past year. However, one practice that still frequently occurs today is retrenchment. You would\u2019ve heard about the massive layoffs at Twitter, Meta, Amazon, and Shopee recently. According to the Ministry of Manpower, 4,000 workers in Singapore were […]<\/p>\n","protected":false},"author":107587,"featured_media":276304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[137317],"tags":[145636,145465,145464],"acf":[],"yoast_head":"\n8 things you should do when you've been retrenched | Honeycombers<\/title>\n<meta name=\"description\" content=\"Do you know what you need to do if you\u2019re retrenched? 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