Under 30 and retrenched: What’s it like to be laid off from your first job?

[Guest Unisa]

How Lucky are u ? Are you choosy for the jobs you apply ?

 

Under 30 and retrenched: What’s it like to be laid off from your first job?

What is it like to be laid off from your first job out of university, and how do you bounce back? Channel NewsAsia speaks to people under 30 who have been through the experience.

• By Linette Lim
• Posted 22 Sep 2016 08:00

 

SINGAPORE: Bank executive James Ng* was retrenched this May when his job at an American bank got offshored to a cheaper country.

 

The 26-year-old had been processing credit card applications at the bank for three years when he was laid off.

 

“I wasn’t too surprised (by the retrenchment) because my job scope was being reduced as the workload increased for the team in the offshored country,” he said, adding that his last duties at the bank consisted of training colleagues in the Philippines to do his job.

 

Mr Ng, an economics and finance graduate from a local private university, counts himself lucky that he landed a new job about a month after retrenchment.

 

But his story is far from unique. Recent statistics from the Manpower Ministry reveal that the unemployment rate among degree holders rose to 4.3 per cent as of June, its highest level since 2009.

SINGAPORE’S RESIDENT UNEMPLOYMENT RATE BY EDUCATION 

In June, the unemployment rate for degree holders rose the most on a year-on-year basis. (Graph: Ministry of Manpower Labour Market Report for Q2 2016)

As the economy slows and order books dry up, early-career professionals - especially in trade-dependent sectors - tell Channel NewsAsia that they are learning just how vulnerable their positions are.

 

“The younger ones got retrenched first, in my case.

 

This is because the seniors are the ones who contribute to revenue,” said Desmond Kok*, 28, who was retrenched by National Oilwell Varco in May.

 

At the time, the mechanical engineering graduate from National University of Singapore (NUS) was less than halfway into his four-year trainee programme with the US oil and gas firm.

 

After retrenchment, Mr Kok said he took four months before he found a sales and business development job in the software industry.

 

“I wasted two months applying to blue chip companies and multinationals.

 

It was only after I went for the second-tier companies then the number of (callbacks for) interviews increased.”

 

HYPER-COMPETITIVE WORLD

 

The rise in the unemployment rate among degree holders is also accompanied by an increase in the youth unemployment rate, which tracks those below 30.

 

This rose to 7.1 per cent in June, after hovering at around 5 per cent over the last four years.

 

“I have friends around me who are in the same situation.

 

For those who have found jobs, they have settled for a contract position or for lower pay.

 

And even so, the competition is stiff, with many more experienced professionals are out there looking for jobs too,” said Mr Ng.

 

Director of the Centre for Future-ready Graduates at the NUS, Ms Crystal Lim Leahy said her students tell her they feel the world is becoming “hyper-competitive”, as there are more graduates in the labour market than ever before.

 

To differentiate themselves from other degree holders that have similar "hard skills", job seekers – particularly fresh graduates – need to cultivate their "soft skills" such as self-awareness, empathy and resilience, Ms Lim Leahy said.

The NUS repositioned its Career Centre as the Centre for Future-ready Graduates in 2014. (Photo: Hetty Musfirah)

“One example of an (interview) question we’re seeing that we didn’t use to see in the past is: ‘Tell me about your biggest failure’. Questions like these are meant to tease out their values and uncover their thinking,” she said, adding that students should understand their strengths and look to link it back to the question, instead of memorising template interview questions and answers.

 

Against the tougher backdrop, labour MP Patrick Tay, who is also the director of National Trades Union Congress' (NTUC) Professional, Managers and Executives (PME) Unit, told Channel NewsAsia that PMEs need to embrace change.

 

“We need to deepen existing capabilities, develop new competencies and stay ahead of the competition …

 

The new mantra is no longer ‘learn, work and retire’, but ‘learn, work, learn, work, learn, work and retire’,” he said.

 

RETRENCHMENT CAME AS A “HUGE SURPRISE”

 

While those in the banking and oil and gas sectors had a sense of foreboding of what was to come as jobs were cut globally, one young e-commerce professional said his retrenchment came as a “huge surprise”, with no notice given.

 

“There was no prior warning before it happened, and everyone reported to work as usual on that day. After the news was announced we were told to leave that same day,” said Bart Seah*, adding that he did receive proper severance in lieu of notice.

 

The 27-year-old media and communications major, who graduated from an Australian university, was just eight months into his copywriting job at online retailer Ensogo when he got the axe. He hopes retrenching companies extend more support to employees.

 

“Initially, my ex-bosses did put in effort to help me get in touch with their contacts (to aid my job search) ... But eventually the opportunities came and went, and I had to start looking for new jobs myself through various job portals,” said Mr Seah.

 

“It was frustrating because jobs in e-commerce seem to be unstable, and looking for a similar role in other sectors was challenging due to a lack of experience.”

 

A job seeker at a career fair organised by the Singapore Workforce Development Agency. (Photo: Loke Kok Fai)

Like bank executive Mr Ng and engineer Mr Kok, Mr Seah was let go from his first job out of university.

 

Although all three found jobs within four months after retrenchment and did not have to suffer deep pay cuts, they feel early-career professionals like themselves tend to fall through the cracks, because universities prioritise placing graduating students while Government agencies tend to be more preoccupied with assisting older workers.

 

"There needs to be greater support, not just in the form of resume writing courses, but also in linking job seekers up with contacts," said Mr Ng.

 

“You’re pretty much on your own,” said Mr Kok, who admits his current role is far from his dream job. “The pay is low, so I’m waiting for a better opportunity to come along. But at least I have a job now.” 

 

 

 

 

 

[Guest Green Grass]

I quited 10 times, retrenched 3 times, job hopped 12 times. Each time, I came out unscratched, unblemished and stronger than the last with higher salary and gained learning experiences from all the industries I've tried.  What is the fuss and what is news to render such meaningless interview as if the world is collapsing and the earth stop  spinning?

[Guest Guest]

The educated world is very much a stupid world these days ! Going everything the high way tech and high cost is costing people's job each year with those butterfly effect  ! USA, Japan , Europe , etc are facing an ever increasing homeless and jobless people , instead of creating jobs , more jobs are being cut , certainly a well educated stupid system ! 

[Guest MedicWorld]

You should become a doctor, nurse or anything relates to medical then you shall have jobs for life and can even migrate anywhere you want.

[Guest haha]

2 hours ago, Guest MedicWorld said:

You should become a doctor, nurse or anything relates to medical then you shall have jobs for life and can even migrate anywhere you want.

True true.

 

But everyone can.

[Guest Blah]

So easy to become doctor meh?

[Guest Guest]

4 hours ago, Guest MedicWorld said:

You should become a doctor, nurse or anything relates to medical then you shall have jobs for life and can even migrate anywhere you want.

 

You think the doctors from cheaper countries are not already here to take away the jobs from the local doctors? Go to any hospitals and see for yourself, can?

 

7 hours ago, Guest Green Grass said:

I quited 10 times, retrenched 3 times, job hopped 12 times. Each time, I came out unscratched, unblemished and stronger than the last with higher salary and gained learning experiences from all the industries I've tried.  What is the fuss and what is news to render such meaningless interview as if the world is collapsing and the earth stop  spinning?

 

Total changes = 25 times. Sounds to me that you are talking about those super low level paying jobs. Please don't compare the degree holders to you, ok?

[Guest ???]

18 minutes ago, Guest Guest said:

 

You think the doctors from cheaper countries are not already here to take away the jobs from the local doctors? Go to any hospitals and see for yourself, can?

 

So where are all the jobless docs? Driving taxis?

[Guest Guest]

Just now, Guest ??? said:

 

So where are all the jobless docs? Driving taxis?

 

They left the country. Why? Are you looking forward to seeing them drive taxis?

[Guest Fatty]

These people must be part of the 30%.

[Guest guest]

It's the government's fault. They approve employment passes freely. Work permit and S passes has strict quotas, but EP is unlimited.

[Guest Finest Joy]

12 hours ago, Guest Unisa said:

 

 

 

I find this picture very cute.  It may be staged but has all the elements to the point.  I mean the portrayal of correction tape and milo pack bring simple comfort inside a cold harsh work place.     

[Guest Guest]

2 hours ago, Guest Fatty said:

These people must be part of the 30%.

 

Are you the same Guest Fatty who voted for such "track records"? Well done.

 

 

[Guest PinkSlip]

This question is best answered who got retrenched before; Gachi_Muchi , the resident moderator who got retrenched by Challenger Funan Centre branch.

[Guest guest]

2 minutes ago, Guest PinkSlip said:

This question is best answered who got retrenched before; Gachi_Muchi , the resident moderator who got retrenched by Challenger Funan Centre branch.

It's very bad karma to publicise people's unfortunate plight and embarrass people. Please be more sympathetic. Being retrenched can be very traumatic. There are many other ways to attack him. 

[Guest Hairy Cat]

32 minutes ago, Guest guest said:

It's very bad karma to publicise people's unfortunate plight and embarrass people. Please be more sympathetic. Being retrenched can be very traumatic. There are many other ways to attack him. 

By skinning his foreskin?

[Guest guest]

6 minutes ago, Guest Hairy Cat said:

By skinning his foreskin?

you can try that, but who knows maybe he is circumcised

[Guest Guest]

Happened to me during the Asian financial crisis in the late 90s. Here comes all the trite but true lessons I learnt. There's a silver lining to every dark cloud. When you are in the moment, you may not see it. Even if you have to take an "inferior" job, so what? When you look back years later, you may be surprised how that could be the best thing that happened to you career-wise. You are still in your 20s, time is on your side. 

[sg indian here]

Well, there is a certainly retrenchment coming again after the finane year closing.Management will need to balance the account book. Any news on that....

[Snapplejacked]

I got retrenched at 28. Sometimes the industry you work for just happen to take a nose dive as you enter. It'll resurface eventually. Just without you riding the waves. Also a blessing in disguise in some way for me as it did propel me into a higher tier position with higher pay albeit at the cost of the mental health.

 

Life.

[Time is NOW]

Retrenchment due to an industry/sector slowing down or organisations restructuring is part and puzzle of life these days. It is how one bounces back and stay RRR (resilient, relevant and re-employable) that is important. I myself have been retrenched twice, and in retrospect, I am glad it happened to me. 

Edited September 25, 2016 by Time is NOW

[Guest family man]

5 hours ago, Time is NOW said:

Retrenchment due to an industry/sector slowing down or organisations restructuring is part and puzzle of life these days. It is how one bounces back and stay RRR (resilient, relevant and re-employable) that is important. I myself have been retrenched twice, and in retrospect, I am glad it happened to me. 

 

Retrenchment is easier on you if you are still young and single.  The ones who get slaughtered are those mid-career 40s family man with school going kids and parents to support.   

[Guest Guest]

3 hours ago, Guest family man said:

 

Retrenchment is easier on you if you are still young and single.  The ones who get slaughtered are those mid-career 40s family man with school going kids and parents to support.   

 

Retrenchment is never easy on anyone, young or old.

[Guest blog]

http://www.straitstimes.com/singapore/manpower/job-hunter-tries-to-stay-positive

[Guest I like big thing.]

Only lousy companies fall  in the slightest sneeze of economy.  It is a good sign.  Lousy companies have no place in the society. They are short life creatures, one cannot expect to build their career upon such companies.   Good companies will not retrench nor fail the people.  They have the muscle and the energy to brave all storms.  That is the kind of companies one should consider joining, for progression and long term career.

 

If there is no economy downturn, we have lots of unnecessary companies brining in cheap labour.  With economy dowturn, small companies bankrupt and foregin labours send home.  Singapore populations will not be so packed and suffocating. 

 

 

 

[BranLim]

Unless you have seen the actual finances of a company, I highly doubt a company is "suffering" and need to retrench people. The way I see it is companies retrench so that the people at the top can have the same money in their pocket without any sacrifice or draining the company's bank account. I manage to sneak peak my company's one. The bank statement is super healthy but management don't want to invest further on its people or technology.

 

If companies adopt the German SME way, vast majority of staff are retained, no matter young or old even in economic downturn. Everyone including the top takes a paycut. Because at the end of the day, the amount of resource spent on training an employee will be wasted if you kick the employee out. Sometimes, a role is truly specialized and require long hours of training. Also, if the employee feel that it is an iron rice bowl with the company and that the company invest properly on the employee, you can get back a loyal and productive employee which will in turn generate sales. It's always a two way street.

 

And lousy companies go bankrupt. It is a reflection of bad management, lack of industry foresight, lack creativity and lack adaptibility.

 

Anyway, the medical industry isn't safe from technology. Robotic surgeons, illness diagnostic by artificial intelligence, etc.

 

Drive taxi when you get retrench? In another 10 years, can forget about it if autonomous taxis have their way.

 

Just my 2 cents.

[Guest Guest]

On ‎23‎/‎9‎/‎2016 at 1:26 AM, Guest Guest said:

Happened to me during the Asian financial crisis in the late 90s. Here comes all the trite but true lessons I learnt. There's a silver lining to every dark cloud. When you are in the moment, you may not see it. Even if you have to take an "inferior" job, so what? When you look back years later, you may be surprised how that could be the best thing that happened to you career-wise. You are still in your 20s, time is on your side. 

 

On ‎25‎/‎9‎/‎2016 at 0:59 AM, Snapplejacked said:

I got retrenched at 28. Sometimes the industry you work for just happen to take a nose dive as you enter. It'll resurface eventually. Just without you riding the waves. Also a blessing in disguise in some way for me as it did propel me into a higher tier position with higher pay albeit at the cost of the mental health.

 

Life.

 

While I am glad that both of you survived the crisis, there's really no reasons to thank anyone or anything for putting you into the position whereby you need to "survive" it. You made it on your own. It was in YOU to make it through. The situation did nothing for you, except to make your life miserable.

[Guest Guest]

3 hours ago, Guest Guest said:

 

 

While I am glad that both of you survived the crisis, there's really no reasons to thank anyone or anything for putting you into the position whereby you need to "survive" it. You made it on your own. It was in YOU to make it through. The situation did nothing for you, except to make your life miserable.

Thank you. This thread is addressed to young (and gay) men who presumably have few dependents, and my post was intended to encourage them. I did say it is tough to see beyond the immediate hardship, but it could be the catalyst for change which one needed but was too conservative to make.

 

For str8 PMETs above 40, who have family and mortgage, it undoubtedly is tragedy. Personal adaptability at that age would be far less.

[Guest Fatty]

Who did those people voted for in the last general erection? 

[Guest PMET]

On Sunday, September 25, 2016 at 10:03 PM, Guest I like big thing. said:

Only lousy companies fall  in the slightest sneeze of economy.  It is a good sign.  Lousy companies have no place in the society. They are short life creatures, one cannot expect to build their career upon such companies.   Good companies will not retrench nor fail the people.  They have the muscle and the energy to brave all storms.  That is the kind of companies one should consider joining, for progression and long term career.

 

If there is no economy downturn, we have lots of unnecessary companies brining in cheap labour.  With economy dowturn, small companies bankrupt and foregin labours send home.  Singapore populations will not be so packed and suffocating. 

 

 

 

 

Those got retrenchment are not the cheap foreign labour.  Most of them are PMET. 

[luvhandle]

what the fuss man?

 

Faced it, this is life

[doncoin]

I remember getting laid off from my first job. I was in a major panic for a day as I was on a working visa then, which means I have 30 days to leave the country. Thankfully, I managed to negotiate with the company for an extension. By the 3rd time I got laid off, I have learnt to focus not so much about the job loss but how much severance I can get, and you can definitely negotiate for more money. 

[Guest Guest]

30 minutes ago, doncoin said:

I remember getting laid off from my first job. I was in a major panic for a day as I was on a working visa then, which means I have 30 days to leave the country. Thankfully, I managed to negotiate with the company for an extension. By the 3rd time I got laid off, I have learnt to focus not so much about the job loss but how much severance I can get, and you can definitely negotiate for more money. 

Just an important point here - unless it's explicitly written in the contract, there is generally no entitlement to severance in Singapore. It's all up to the 'kindness' and 'generosity' of the employer.

[Guest guest]

i got retrenched because i play pokemon during office hours.Am addicted no choice.