Moving Forward: How to Turn Redundancy at Work into an Opportunity

Facing redundancy at work can be a very challenging experience. After all, no one wants to receive that dreaded retrenchment e-mail. But if this has happened to you, take a deep breath and remember that it’s not the end of the world. It might not be what you expected, but you are not alone. Countless Singaporeans have bounced back from being retrenched, and so can you.

Whether you’re dealing with being dismissed or wondering what happens when your job is made redundant, this guide will show you how to turn redundancy into an opportunity.

Redundancy vs. Retrenchment

People often use the words “redundancy”, “retrenchment”, “layoffs”, and “downsizing” interchangeably. But you must know the nuances between these terms.

According to Tripartite Alliance for Fair & Progressive Employment Practices, redundancy is a condition that “occurs when the employer has excess manpower, the company is undergoing restructuring, the old job no longer exists, or the employee’s job scope has changed.”

On the other hand, the Ministry of Manpower defines retrenchment as “the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy.” In other words, redundancy refers to a job becoming nonexistent, and retrenchment refers to letting go of the employee who occupied that position. In even shorter terms, the latter is an offshoot of the former.

Layoffs can also be an effect of redundancy. However, it can be temporary while retrenchment is permanent. For instance, a restaurant struggling during a pandemic can temporarily lay off its servers for up to a month, then call them back to work once the number of diners returns to normal.

Lastly, downsizing is when a company reduces its size. This process often involves redundancy and retrenchment. However, this is not always the case. For instance, a company may retrench some employees while giving others the option to transfer to another department or office.

How to Turn Redundancy at Work into an Opportunity

Leave on good terms.

It can be easy to feel resentful towards your employer, but burning bridges is not a clever career move. After all, you could wind up meeting your colleagues again, especially if you work in the same industry. Besides, a good referral letter from your manager could be helpful when you look for your next job. Your former colleagues might also be able to point you toward new opportunities somewhere down the line.

Know your rights.

Find out whether you’re entitled to retrenchment benefits. Learn more about your rights by reading this article, “ What to Do If You Get Retrenched? How to Rebound Like a Champ. ”

Singaporean law also requires your employer to notify you of your retrenchment in advance. If you have been working for the company for less than 26 weeks, then you are only entitled to a day’s notice. But if you’ve been with the company for over that period then your employer should give you at least two to four weeks’ notice, depending on the length of service rendered.

Process the shock.

Give yourself time to process the emotions: shock, disbelief, disappointment, anger, fear – you’ll expectedly experience each in varying degrees. Talk to coworkers, friends, and family as you take stock of the situation. Talking it over will give you a chance to vent, get things off your chest and, most importantly, provide you with different perspectives on the matter.

Stay positive.

Once you get over the initial shock, don’t wind up wallowing in self-pity. One way to do this is to avoid tying your self-worth to your career. Remember that you were not made redundant, your job was. Your employer hired you because they found you a good fit for the job, and had the circumstances been different, they would have kept you.

Couple your optimism with proactivity. Empower yourself by adopting a growth mindset. It means believing you can always learn new skills, including those needed to find a new job.

Do an objective self-review.

Take the opportunity to ask for constructive feedback from your manager or department head. Factor their responses into your assessment so you can develop a self-improvement action plan to move forward. It’s good to stay open to criticism but bear in mind that your retrenchment is mainly the result of economic forces rather than your ability to do the job.

See it as an opportunity.

If you’ve ever wished for a chance to start over and try something completely different, this is your opportunity. If you’re being thrust into a position of change anyway, why not make it a change you’ll relish rather than resent? Being made redundant might just be a blessing in disguise if you’ve secretly been itching to explore a different career path or start your own business.

Take control by creating an action plan.

Take stock of your finances and find out how long you can get by without a job. Then list the steps you need to take to find work. Do you need to upskill or build your portfolio? Are you planning to take on temporary work?

While you’re at it, take the time to reflect on what you want from your next job, whether it’s flexible work arrangements or different company culture. Remember to treat your job search like a real job. Determine how many hours a day you’ll spend looking for work, and stick to your schedule.

Tap your professional network.

Catch up with former colleagues and ask whether they know of any openings or opportunities. You can also ask friends, relatives, and even old professors. If you’ve never been to a networking session before, now is the time to start. After all, recruiters often attend these events to find new talent as well.

Get retrenchment counselling.

The government offers all kinds of resources to help Singaporeans find new work. Programmes like e2i and Careers Connect provide retrenchment support services such as career coaching, career matching, employability workshops, and career fairs.

You can also sign up for JobStreet to check out fresh professional prospects and even advice on how to bounce back and be better.

Prepare for your job search.

Improve your chances of landing a job interview by tailoring your resume to each job opening. Do your research on the companies you’re interested in, and practice answering the most common interview questions.

When interviewers ask why you left your previous job, be honest about being made redundant. After all, employers can be more understanding about this than you think. Simply answer matter-of-factly, then shift the discussion to the qualifications and skills that make you the best fit for the job. You can even talk about what you learned from the experience of being retrenched and the steps you’ve taken to grow and overcome this setback.

While dealing with redundancy at work can be quite daunting, you can#MovingForwardand#SEEKBetterjobs by maintaining a can-do attitude and maximising the resources at your disposal.

Ready to jump back into the job market? Begin by downloading the Jobstreet App on Google Play or the App Store. Then update your Jobstreet profile and get ready to ace your interview with our Practice Tool.