Daily Lessons from Life 27 December 2013 - Retrenchments happen even when economy is doing well: Tan Chuan-Jin

"Retrenchments happen even when economy is doing well: Tan Chuan-Jin - CNA 27 December 2013

SINGAPORE: Acting Minister for Manpower Tan Chuan-Jin said on his Facebook page on Friday evening that HGST's retrenchment exercise "is one of the larger retrenchments this year".
He said that even with a tight labour market and an economy that is doing reasonably well, "we will continue to see some amount of redundancy as our economy restructures and that this is an inevitable reality and we will see more of this in the coming years."
He believed that the key thing is to make sure that there is adequate assistance available to help displaced workers re-enter suitable jobs and for jobs to be available in the first place.
Mr Tan said that it was important that the unions often proactively work with the management to help those affected.
He added that he was glad that HGST Singapore's management and the United Workers of Electronics & Electrical Industries (UWEEI) have been doing this.
In his post, Mr Tan said that HGST and the union are actively working with e2i to provide assistance to the workers affected by the company's retrenchment.
The union has also helped secure other settlements and benefits.
Mr Tan shared that the Workforce Development Agency (WDA) has stepped up employment facilitation efforts as the economy restructures. These include working closely with the Community Development Councils (CDCs), grassroots and self-help groups to help unemployed and vulnerable job seekers find jobs.
Mr Tan said WDA will also work with Family Service Centres and other community counselling providers to help job seekers who require emotional support, and ramp up its outreach and assistance capacity through the unions, advertisements and activities carried out in locations close to the community.
Mr Tan added that retrenchments will happen whether it is festive season or not, and even when the economy is healthy.
He said the priority is to ensure that the systems and processes are in place to help those affected."

Well, the news report said it all.

Lessons for me are:

1. be ready and be aware of what is coming where you work. Not to be in constant fear of the Company closing down or retrenching or jobs moving away but to know the REALITY of: if it will come to that and if so when and how can you best prepared yourself for it. No surprise is the best way forward for anyone who received his or her retrenchment letter!;

2. in this regards, staffs from HGST probably see it coming and hopefully are mentally and financially prepared. There are many manufacturing jobs in Singapore that WILL face this 'phasing out' destiny as they are SIMPLY uncompetitive globally and regionally. The thing to do for the retrenched, especially those NOT READY, is to help them get a new job as soon as possible. Hopefully a job that will provide similar pay packages and work satisfaction!;

3. the job of the government as rightly pointed out by many Ministers is to CREATE employment for its people. Hopefully, again, with well qualified and world class workers, white- and blue-collared and even gold-collared ones, they should be able to find employment WITHOUT having to contend with firms operating in Singapore that want to hire 'cheaper' value for money Foreigners!

It is great to learn that WDA tries to be ALL THINGS to all people. At the same time, it is important to be careful NOT to create a MONOPOLY as a monopolistic organization is NEVER, or SELDOM, an effective and optiomal organization!!

May the new year of 2014 be bearable and profitable for the retrenched workers of HGST!