SINGAPORE: What to do in the event of a retrenched? With a wave of major layoffs in the IT industry recently coinciding with an uncertain economic outlook, more workers are increasingly fearing retrenched.
Furthermore, the approach left the Lazada employees who were let go at the beginning of 2024 confused and uneasy due to the e-commerce behemoth’s lack of transparency.
Human resources manager with more than ten years of experience Mr. Ian Liew stated, “The key here is that the more you treat the employees with dignity and the more empathetic you are, the easier they can accept the retrenchment.”
In the unlikely event that you are summoned to that dreaded meeting, here are the most frequent queries that could cross your mind, along with professional responses.
Being retrenched can be a challenging and stressful experience, but there are steps you can take to navigate this situation and move forward. Here’s a guide on what to do if you’re retrenched:
- Stay Calm and Positive: It’s natural to feel a range of emotions when facing retrenchment. Allow yourself to process those feelings, but try to maintain a positive mindset. This can help you approach the next steps with a clearer perspective.
- Understand Your Rights: Familiarize yourself with your employment contract and the labor laws in your country. Understand your rights regarding severance pay, notice period, and any other entitlements. This information will be crucial in negotiating a fair exit package.
- Communicate with Your Employer: Have an open and honest conversation with your employer. Seek clarity on the reasons for retrenchment and inquire about any support they may provide, such as outplacement services or references.
- Review Your Finances: Assess your financial situation and create a budget to manage your expenses during the transition period. Consider any available savings, emergency funds, or government assistance programs that may help you financially.
- Update Your Resume and LinkedIn Profile: Update your resume to reflect your most recent experience and accomplishments. Also, ensure that your LinkedIn profile is current and showcases your skills and achievements. This will be valuable as you begin your job search.
- Network and Seek Support: Reach out to your professional network, colleagues, and friends. Inform them of your situation and express your intent to explore new opportunities. Networking can open doors to potential job leads and valuable advice.
- Explore Job Opportunities: Actively search for job opportunities within your industry or related fields. Utilize online job boards, company websites, and professional networking platforms to identify potential employers and positions.
- Consider Career Counseling: If you’re uncertain about your career path or need guidance, consider seeking the assistance of career counselors. They can provide insights into your strengths, skills, and potential career directions.
- Upgrade Your Skills: Use this time to enhance your skill set. Consider taking relevant courses, certifications, or workshops to make yourself more marketable in your industry. Continuous learning can increase your appeal to potential employers.
- Maintain a Routine: Establish and maintain a daily routine. This will help you stay organized, focused, and maintain a sense of normalcy during the job search process.
- Explore Entrepreneurship: If you’ve ever considered starting your own business or freelancing, now might be the time to explore those options. Assess your skills and interests to identify potential opportunities.
- Take Care of Your Well-being: Job loss can be emotionally challenging. Ensure that you prioritize self-care during this period. Maintain a healthy lifestyle, seek support from friends or professionals if needed, and stay positive about your future prospects.
Remember, while retrenchment can be a setback, it can also be an opportunity for growth and change. Stay resilient, and use the experience to pivot towards a more fulfilling career path.
