The latest Ministry of Manpower (MOM) labour report paints a pretty dismal picture of the job market in Singapore. According to the government body, at least 19,000 people were laid off from jobs in 2016—the highest since the 2009 recession, when redundancies peaked at 23,400.
Last year alone, Twitter, Barclays, Standard Chartered Bank, ANZ Bank and Rakuten – among others – announced job cuts and high profile departures. Unsurprisingly, this has contributed to the average unemployment rate spiking across sectors and demographic groups, irrespective of educational qualifications.
But while reading the numbers in a report is one thing, being personally affected by a restructure or mass redundancy is quite another. You can be a very experienced, qualified individual and still be let go when a business is forced to improve profitability. It’s not necessarily a reflection of one’s talent or abilities, but that doesn’t stop it from being a stressful, emotional experience.
Get back on your feet
After being dealt a redundancy blow, it’s important to take some time off to decompress. Whatever you do, avoid the temptation to update social media with negative posts about your job loss. Once you’re ready to hit the job market, think of how you’d like to address the news to your network and potential hiring managers – this is especially important for someone in a senior management position. Keep it short and simple and make sure to highlight your career goals.
Make a list of organisations that interest you and tap into your network of friends, acquaintances and headhunters connected with these companies. Even if they’re not able to help you land the job, staying up-to-date on latest industry news is useful when recrafting your CV – especially if this is the first time in many, many years you have had to send out resumes. Engaging in online discussions with industry groups and associations is another great way of demonstrating your interest in the field.
Tailoring your CV
Read the job description carefully and ensure you position yourself as the ideal candidate. There is no need to explain a job loss on your resume – chances are it will be discussed at the interview stage – so use it instead to focus on your accomplishments. Highlight any temporary job, freelance project or consulting work you took on during the break. Equally, remove certain accomplishments that do not contribute to the role you are applying to.
If you were recently let go, avoid listing your position as “present”, giving the appearance that you’re still employed. My advice would be to use your cover letter to explain any terminations – but try to keep it positive and don’t dwell on it.
Highlight relevant skills
The key to securing a job is to be dedicated to the hunt. You need to have several things going at the same time and use every technique you can think of to connect with potential roles, including job websites, networking events, recruitment agencies and professional networking sites. Don’t breathe a sigh of relief once you get an interview – this is only the beginning, and an interview is no promise of a job, no matter how you made the connection.
In today’s competitive job market it is critical to differentiate yourself and stand out from the crowd – but when you’ve been at one type of role for a long time that can be hard to do. To overcome that challenge, think about how you can showcase your transferable skills. What knowledge and skills are required for the role you’re applying to? Which of these qualities do you possess? For example, if you’re applying for a role at a creative agency, having good communications skills is essential—but marketing yourself as a storyteller can help clinch the deal.
A positive reference from a colleague or supervisor at your old company is certain to improve your chances of receiving a call from a potential employer.
Finally, when preparing an explanation during the interview it’s ideal to tie your layoff to a restructure or role elimination that impacted a group of people. Keep your responses brief and avoid bad mouthing your former employer. Singapore is a small place, and you never know who knows who.
Maintaining your momentum can be difficult after losing your job, but if dealt with swiftly and carefully, there’s no reason a redundancy shock should impact the future of your career path.
The article was published in The Strait Times