Hi Friends
I would like to share a few tips of mine on how to manage and survive if you are one of the unfortunates that saw the axed dropped on you. I myself was retrenched in 2002 and was out of job for 8 months during that time. That 8 months was an experience but I learnt many things along the way.
If I may pls let me list down what I will do if I got axed again which is another possibility given current times.
- Take the next offer on the table be it 20% or 40% salary cut. Some pay is always better than no pay.
- Never consider long or short term career goals whoever throw the next offer on the table. Again some pay is of course better than no pay.
- Apply to the banks to restructure your mortgage payments to only paying interest component for the time being. Use maximum CPF to the extent you can. Do that for car loans if needed as well.
- Apply for part time teaching or tutoring with MOE and tertiary schools as there is constant demand for relief teaching. And the best thing is you got some money and time to continue hunt for your next job.
- Look through all your name cards you have gathered and write to your contacts. Dont be shy and be upfront on your situation and let them know to sound you out if they hear of any opportunities. Dont waste time with recruitment agencies as they will be having a big stack of resume.
- Write unsolicited letters direct to the relevant senior manager of companies that you have relevant experience to contribute. For instance, if you are a financial controller you should write to the CFO. In order to get the name of the CFO, one small trick is to call the main line of Company XXX and said that you are Joe Blogg of AsiaFinance Conf and would like to extend an invitation to the CFO of XXX. Ask for the name and the recep will be more than happy to provide the name to you.
- Suspend all professional and club membership fees if needed.
- Spend some time doing volunteer work as this will keep you going spiritually and the intangible pleasure of helping others in need.
I hope the above will help some of you and I hope others will share some advice as well. Dont be dispair look on the brighter side and use this period as a opportunity to reassess where you want to head. Also spend lots of quality time with your loved ones.
Good Luck!
I would like to share a few tips of mine on how to manage and survive if you are one of the unfortunates that saw the axed dropped on you. I myself was retrenched in 2002 and was out of job for 8 months during that time. That 8 months was an experience but I learnt many things along the way.
If I may pls let me list down what I will do if I got axed again which is another possibility given current times.
- Take the next offer on the table be it 20% or 40% salary cut. Some pay is always better than no pay.
- Never consider long or short term career goals whoever throw the next offer on the table. Again some pay is of course better than no pay.
- Apply to the banks to restructure your mortgage payments to only paying interest component for the time being. Use maximum CPF to the extent you can. Do that for car loans if needed as well.
- Apply for part time teaching or tutoring with MOE and tertiary schools as there is constant demand for relief teaching. And the best thing is you got some money and time to continue hunt for your next job.
- Look through all your name cards you have gathered and write to your contacts. Dont be shy and be upfront on your situation and let them know to sound you out if they hear of any opportunities. Dont waste time with recruitment agencies as they will be having a big stack of resume.
- Write unsolicited letters direct to the relevant senior manager of companies that you have relevant experience to contribute. For instance, if you are a financial controller you should write to the CFO. In order to get the name of the CFO, one small trick is to call the main line of Company XXX and said that you are Joe Blogg of AsiaFinance Conf and would like to extend an invitation to the CFO of XXX. Ask for the name and the recep will be more than happy to provide the name to you.
- Suspend all professional and club membership fees if needed.
- Spend some time doing volunteer work as this will keep you going spiritually and the intangible pleasure of helping others in need.
I hope the above will help some of you and I hope others will share some advice as well. Dont be dispair look on the brighter side and use this period as a opportunity to reassess where you want to head. Also spend lots of quality time with your loved ones.
Good Luck!
