Stay Positive If You Get Retrenched

If you were retrenched twice at the peak of your career in your 40s and then again in your 50s, would you:

(a) Lament that life sucks and feel angry for a long time and become a disillusioned person OR

(b) Help your fellow colleagues find new jobs as you take on a new role in a new industry yet accepting a 40% pay cut

Guess which option Mr Bryan Yeo, “a survivor of retrenchment”, took?

His career was smooth sailing until one day, there was a sudden change in the company’s direction to withdraw investments from Singapore. This resulted in Bryan being made redundant. The news of being retrenched was an extremely bitter fruit to swallow, as he had three teenage children and family commitments.

Instead of lamenting that life was unfair, Bryan took each retrenchment in his stride and moved on with strength and support from his family.

Even though he had already been told of his retrenchment, being a manager, his priority was to ensure his colleagues get placed in a new job often through his contacts. He understood that the given his seniority in his job, it would be more difficult to land a job of the same level. Fortunately for Bryan, he received a call on his last day of service that offered him a job with 40% pay cut. He was grateful for the opportunity and took the offer without asking the job scope. Bryan has since recovered the pay cut that he took and is better off than before.

Bryan shared how his positive attitude made a difference in the outcomes of his choices that enabled him to stay resilient and go from strength to strength in times of crisis.

1. Lifelong learning is the key to more opportunities

  • No one can guarantee a job. Hence, it is important to constantly upgrade to prepare and create more job opportunities for yourself.
  • Bring up skill set to improve overall work performance.
  • Learn new skills and widen your job scope to remain relevant.

2. Know that it is not your fault. Retrenchment is a business decision due to globalisation and economy restructuring

  • Expect the unexpected. Be prepared for transition even during times of growth to manage career changes.
  • Early career planning to create several portfolio of careers to get ready for changes.

3. Accept changes in order to adapt to new environments

  • Embrace change with a positive mindset and right attitude to grow.
  • Consider new sectors resulted from the new economy.
  • Believe that change is possible regardless of age.
  • Positive attitude make a difference in the outcome of choices.

4. No one owes you a living

  • Invest in yourself and take ownership in personal development to learn new skills.
  • Create and maintain useful networks when you don’t need them as it’s often too late when you need them.
  • Be financially stable to remain sustainable in a crisis.

If you’ve been retrenched you have the power to adopt a positive attitude and not to let it affect you negatively.

Credit:  Edited // Caliberlink