The following is a personal account by Mr Gilbert Goh. The article was first published in the Straits Times forum page in October 2008. We thank Mr Goh for giving us the permission to re-publish it here. We hope that the article will help those who are facing or who will face unemployment in the coming months. If you’ve had similar experiences or have expertise in helping people in such situations, please let us know. TOC will provide the space for you to share or help those in need. (Special thanks to Mr Goh for the suggestion). Thanks!
Gilbert Goh
I COUNT myself lucky to have survived two tough years of unemployment with mounting financial problems during the period after 9/11 right up to the Sars epidemic. My family had just returned from overseas as we were away for a year on study purposes. The situation was made worse when we decided to buy a private house burdened with a mortgage loan.
Although my wife works, it was tough to make ends meet with only one income. We also had a young daughter to raise. I faced sleepless nights trying to meet the minimum income payments for all my credit facilities (one credit card and one other credit facility) especially when the bank account dried up. There was an unforgettable day when my ATM bank account showed a balance of less than $20. The worst moments of my life came when I had to borrow cash from friends to tide over. This is when you realise who your true friends are and whether they will stand by you when you are almost down and out. To this day, I am thankful to many who helped me financially in a willing manner.
During that period, I hovered between desperation and panic. Naturally, relations with my wife was not the best.
After about six months of unemployment, I realised the first step was to manage my emotional health above all else. I realised that, if I could manage my emotions better and stay positive, I had a better chance of coming out of my financial crisis stronger. I also drew up a timetable so my days could pass by fruitfully. When one does not work, one has much free time to idle and often negativity floods our minds. I hope to share some personal experiences and strategies and, if possible, help some who are depressed and affected by the current financial crisis. I dare not say these strategies are surefire solutions but at least they can provide hope to the depressed and fuel optimism in those who are unemployed. For readers who are still employed and unaffected, it is a good time to prepare for retrenchment as it will come like a thief without any warning. When unemployment hits, we may be too shocked to face up to it.
- Share your tensions and frustrations with your family. Our loved ones are the closest to us and they yearn to share in our happy and sad moments. By cutting them out of our darkest moments, we deny them a chance to support and help us. Though my wife did not speak to me much during that tough period, her unwavering support and toughness to hang in there with me helped me to tide through that difficult period.
- Seek help if things are too overwhelming. I was fortunate to have many good friends and a good support group in a church that met weekly. They gave me the platform to raise my needs and shared my frustrations. It was a relief for me to know that people cared how I felt. It would be disastrous to face unemployment alone. So learn to share and be humble.
- Network more than ever. Many jobseekers stayed at home due more to depression than anything else. Like many, I sent e-mail messages to prospective employers and attended countless interviews, to no avail. Much later, I managed to secure a part-time job through a meeting with a long-lost friend. Although it paid only $6.50 an hour, finally I was relieved to know there was income coming in after 20 months of unemployment. More important, my self-esteem was boosted by the part-time work. That experience helped me land a full-time job six months later. To this day, I am eternally grateful to the friend who recommended me. My life turned around after that. So don’t stay at home – go out and move around. Opportunities are out there, but if we stay at home we cannot seize them.
- Think positive. This is easier said than done, but very important for one to stay on top of the situation. I read a lot of motivation books during that period, so my mind was full of positive thoughts. This was often done immediately after I woke and right before I slept. This helped me start and end the day with the right frame of mind. If not, our mind is always filled with negative and depressing thoughts.
- Indulge in physical activities. I turned to jogging daily more to occupy my ample free time than anything else. However, I discovered after every run I felt light hearted and positive about my situation. My mind was also free when I jogged and it was very therapautic. I later realised that, when one exercises, feel-good chemicals called endorphins are released and this help one stay calm and relaxed. I still run regularly and have taken part in the annual Standard Chartered Marathon.
- Spend time with your loved ones. I began to spend a lot of time with my mother and daughter, who stay at home. This not only took a lot of the free time I had but also allowed to indulge in meaningful activity. I must say my mother remained the most influential person during that dark period, allowing me to recover fully.
- Face the situation bravely. I learnt to face relatives and friends when I met them. It was sometimes difficult as I had difficulty explaining why I was still unemployed after so many months. It could even be depressing if questions were raised insensitively. So I prepared my answers before I met relatives and friends in social gatherings so I would not be caught unprepared. I also realised that such meetings can be used for networking purposes.
I hope this will help many who may be laid off in the coming months. Remember the world will not end and you are not alone. The dark moments will pass you by but the important thing is to hang in there and face up to challenges. What does not kill you will make you stronger. You will end up stronger mentally than before when you are baptised in the fiery fire of unemployment.
——–
Author’s note:
I have worked among the unemployed counselling and helping many jobless workers while working as a Career Consultant from 2005 to 2007 at the Community Development Centre (CDC). Perhaps my long stint of unemployment has allowed me to empathsize with this group of people who felt stressed from the ill effects of unemployment.
For those who are currently unemployed due to retrenchment, my advice to you is not to give up and hang in there. Never lose hope and seek help if you think that the situation is too overwhelming for you to handle. There are many family service centres around the country that provide almost free counselling sessions.
If you need further help, you can email me at goh_gilbert@yahoo.com. I can provide a quiet listening ear here. Remember that there will be light at the end of the tunnel, we only need to be patient.
———–
HELP keep the voice of TOC alive!
If you like this article, please consider a small donation to help theonlinecitizen.com stay alive. Please note that we can only accept donations from Singaporeans. Thank you for your assistance.Do you have a flair for writing? Volunteer with us. Email us your full name and contact details to theonlinecitizen@gmail.com
Hi Gilbert,
Thanks for sharing your article.
I too have been sitting on the bench for several months now.
I answered the call to Upgrade my skills.
I even got certified as a project manager.
I am used to being a consultant, more hands-on kind of job.
After taking up the new skill and getting the cert, I could not find a new job.
My main obstacle : looking for a job in a new line of work is tough because the job market basically never look for someone with little or no specific experience.
I even applied for project management jobs with requirements of at least 3 years experience. No replies. Employers can always hire younger but experienced people from around the world. There is little need for someone without direct experience.
Yes, unemployment is terrible. One can feel totally useless and depression can set in, catching you when you are unaware of it.
This is not my first unemployment. During the last economic crisis, I too was on the bench.
Yes, jogging or sports can fight depression. Its proven.
Good luck fellow Singaporeans. Hope none of you need to suffer the same fate as me. But not to worry for me, I am a fighter! I will find myself my ricebowl someday.
yours sincerely
“Retrenchment is good for singapore. If there is no retrenchments, then I worry.”
Hi Can Emphatise:
Ya I know how you feel – the desperation and the depression thoughts come on and off unwarningly.
Did you try to look for PT work? I think it is more readily available than permanent job now. If you don’t mind, work such as telemarketing, tuition, relief teaching (pte or govt schools) should be available.
For relief teaching, you can go to MOE website and there will be a guide on how to register to be a relief teacher. For private schoosl, you can search for the private schools under google/yahoo and there is a strong demand for English language teachers for foreign students. The pay is hourly rated between $30-$50 an hour which is reasonable.
Do drop me an email found under the article if you need more guidance or advice. Take care. Hang in there. We are all here together to fight this crisis!
All the best.
In times like this we must “save on one hairdo and use the money for”…..
For those braving the coming “golden period”…HANG IN THERE & GOOD LUCK!
I was retrenched a couple of years ago just after my son was born. To make matters worse, my wife was not working. It took me an agonising 3 months to land another job. 3 months may seem like a short period of time to be unemployed, but when you have a family to feed, that 3 months feel like 3 years!
“Singaporean workers have become more expensive than those in the USA and Australia.” – Tony Tan
Er…what about politicians???
Yep, this is the kind of article which should be posted at a time like this, not those Tan KL’s bid for presidency and such.
Ok, to give my comments.
Singapore is an Asian country. We practice a free market policy. While economic downturns are inevitable in a capitalist state, it’s bust and boom can be controlled. This does not mean blowing up a bubble and hoping that it’ll stay inflated, but blowing it up and maintain it at a size which is manageable.
Last year, our economic growth was mainly from the construction sector. I had already raised the alarm bells then, at YPAP. I knew that some economic crisis was heading this way. But then, our ministers assured the public that Singapore was relatively shielded from this economic downturn due to the growth of Asian giants China and India. I then decided torest my case as I thought I was still inexperienced.
I’m pretty sure MM Lee said that and as he was the leader who oversaw Singapore’s industrialisation as PM, I trusted him and his words. But now I know better. We were mis-led in such a way that this economic crisis cam even before we expected it.
The technical recession was never expected. We are among the most competitive economies in the world, and yet we are the first Asian country to fall into technical recession. The govenment has to take responsibility for not informing the public about this issue so that we can prepare the cash and everything.
The mini-bonds issue is but a small one. Further setbacks are expected and Tan KL won’t be the one expected to solve them. It’s the PAP government.
I have already said that in the oncoming budget speech, PAP will either make or break. hey will either rally supporters and entice opposition cooperatives or they will further disillusion-ise Singaporeans. The survival of PAP and Singapre is at stake here!
In the oncoming budget dialogue or whatever, the incumbent cannot be afriad of deficits. After all, what are our reserves for? We can well afford to lose a few billions if we can gain twice the amount in the next years to come after we recover.
In the international world, I can see more Keynes-like economies sprouting up, while still maintaining free market ideas. Capitalism will no longer be the rule of the thumb.
PM Lee and George Bush said protectionism will only serve to ruin countries and make recovery slower, and they’re right. There’s no mistake about that. In Singapore’s context, we only need to protect our financial institutions. Regulate them. When the then-PM Goh under the “guidance” of LKY decided to further liberalise our financial markets in the wake of the Asian financial crisis, he played Singapore’s trump card, our one and only. Now, recovery will take a much slower route if left on it’s own.
If we protect our banks and everything, our economy remains strong and viable. If the people stay united, our country remains stable. If the government helps the people, we’ll have social happiness. If the economy recovers, everyone will forget whatever mis-deeds PAP ever made if any and regardless of how many Tan KLs there are, PAP will be given the mandate to rule by me and many others.
There’ll be just the few rowdy politician wannabes who will go to Hong Lim Park protesting actions they themselves did. Or they’ll go about condemning the government for spending too much. Or about human rights again. I expect they’ll be accompanied by old men with nothing to do. And in the next GE, they’ll lose all their election deposit and gain single digit votes. Himself, and his wife. And maybe their children as well, if applicable.
Hahahaha~
Rgds
Can empathise with the situation encountered. I offered to close our biz and received my compensation package. One has to be strong, through planned daily schedule of exercises (to keep fit mentally and physically), network (to keep in contact with working world), ignore those fake friends and stay close to family members. Do not stay at home all day (to nag the kids who are not used to you being around) but make use of the free facilities (ie. library, book stores, club house, etc) around us. Continue to stay positive. With more time, spend time walking to destinations and explore sights which you never have a chance to do so. Despite being positive and strong, I still had that ‘pity myself’ feeling when I was taking a stroll one day. I had to overcome it immediately it by telling myself that those working are not much better, and maybe even more stressed. I found a job within 2 mths from newspapers advertisements.
7) panter92 on November 25th, 2008 9.57 pm
Yep, this is the kind of article which should be posted at a time like this, not those Tan KL’s bid for presidency and such.
Hey panter92! did TKL owed you any money or what that every comment he or any other blogger wrote here, you seems to be tailing him all this while, like his shadow. I’m just curious!
8)ex-banker:-
Thanks for your sharing. What you said is so true but I felt that it is good also to own up to our emotions. There will surely be moments of negative and depressive thoughts.
However, if such thoughts are left lingered in us for too long ,they may later overwhelm us. In fact, some jobless felt powerless and the situation is make worse if one has financial problem.
I agreed with you that it is good to plan ahead even before one is retrenched:
1. What industry do we want to go into next? Can we switch to a new industry? One reason for my prolonged unemployment is the unwillingness to switch line or take up something much lower than my previous pay. That took me a long time to get out of the rut. If I am humble and flexible enough, I think the pain will be shorter.
2. Identfy what skills do we have? This is crucial as if we don’t know what kind of skills we have on hand then it will be tougher for us to identify the right kind of industry to get into. If we lack the skills, we can go for re training as advocated by the govt.
3. How much savings do we have before we press the emergency button? Do we have a back up plan once we are low on savings? This is also important as once we cross the dangerous line we are in deep stress and financial trouble. That will make us feel much worse than ever before. Imagining looking for a job with the stress of unpaid bills and legal letters in our letter box!
As we see more people getting unemployed, let us be a gracious society and provide whatever help we can to our fellow countrymen. Sometimes they don’t need our money but a kind word and patient listening ear sure help a long way.
Hi Gilbert,
Thanks for sharing your article. It gave a real insight into how a person feels when he is unemployed for a long stretch.The main media only published articles which were heavily censored/edited. You can tell when you read those sentences which don’t seems to join logically.
Being unemployed here means no unemployment benefits, no social support to fall back on, nothing to help us to continue to lead a dignified life without asking anyone for help. But worse part is : always not deserving enough a case to be put on their “public assistance program” .
In short, it seems that we are always “falling through the cracks of the network” that the government is fond of saying.
For those of us who are still employed, I believe a lot of us are constantly thinking : everyday you go to work but you never know if the axe will fall on you tommorrow and being replaced by someone who is very much cheaper although not necessarily better, to employ than you.
Fellow citizens who were axed, keep a positive outlook. I believe we can pull through this period of time together; without begging for their “assistance”
tiredsingaporean,
There’s nothing good between me and him. I’m just using him as an example, since he’s been in the headlines for his assistance of the troubled investors which led to his decision to bid for president IF he got the signatures.
haha~
Being retrenched is nothing new to me as I had it countless times. I have a doctorate and to get the low jobs I just said I failed my BA and I failed in my selling job. I worked temporarily as survey interviewer for nearly all the companies in this field and found that all of them are cheats. I was a jaga for quite a few companies, a golf marshal, a gardener etc. All the companies cheated me and I took many of them to MOM and I won nearly all my cases. I will never forget one case and it is SICC and I won a court case in the Labour Court. First time it lost? So, I became a kind of MOM claim artist and one chappie said I should write a book on it. I will. I am now hang of a old, 68 but I am still fit. For now I am a do it yourself volunteer in Indochina and I give my heart to sub-editing and as a journalist at no pay to a newspaper. My colleagues are my buddy-buddies and that is alI I ask for and most important for me. The money to support my food and lodging come from the savings of the low paying jobs and the monetary claims-thanks to my innate talent to read the Employment Act- my bible. So, I keep on fighting and to do good for those who deserve it and they are my buddies. Retrenchment – no fear.
Sunny
panter92!
But you don’t need to go to that extreme even if there is nothing good between you guys here. I may not know him personally but even if he decides to join politics since there are people here who are supportive enough, then lets see how things work out, nobody can really know what may come next, right?
tiredsingaporean,
I am neither slandering him nor using vulgar language right? SO what’s wrong?
[---deleted---]
There was a Chinese ritual saying, called “refusing thrice, accepting fourth”. Something like that. I don’t like people who practice that. It’s either they accept it or not at all. If Tan KL had decided to accept the presidential bid directly and not ask for 100,000 signatures first to ‘test the ground’ I might have retracted whatever I said before and support his bid.
But now.. it’s too late. The move has been made.
Tan KL will have to gain the trust of majority of the people other then the investors and the limited numbers of people here in order to get the signatures. If he attempted to collect the signatures BEFORE the mini-bonds issue blew up, do you think he’ll even get a thousand if the people actually looked at what their signature was intended for?
haha~
Comments edited by moderator.
Panter92, please refrain from making insinuations against anyone. Else, we’ll put you on moderation.
Thank you Gilbert, Can Empathise, ronin, and Sunny for sharing your experiences. I think they will give many Singaporeans hope in these tough times.
If any of you would like to share your experiences more in a stand alone article, please write to us. It will be great if we can have a pool of articles to turn into a regular feature on how to cope with retrenchment and find that next job.
Sunny, would you like to contribute your skills to the TOC team? (the writing and sub-editing, not how to claim from MOM =) ) Although we’d love to have you share your experiences on seeking recourse against unfair employer practices.
Zheng Xi
panter92!
if thats what you said then there is nothing for me to be curious of lo . . .
panter92,
we’d appreciate it if you could keep your comments on topic. if you would like to express your disapproval at Mr Tan, please do so in relevant article comment boxes. It’s not very fair to our writers to have their comments space cluttered with irrelevant material.
Zheng Xi
just want to share with all of you that these days, if one find the MRT crammed during morning when going to work, count our blessing for we are still working.
Zheng Xi and tiredsingaporean,
I’m just using Tan KL as an example as I said in my above post before it was moderated. haha~
Ok then, back to topic.
In these times of economic downturns with people being retrenched, et cetera, the government must play an active role. They cannot sit back and issue policies or solutions. These ideas must be explained to the people. Not through the middlemen, but directly through the mass media.
In such times, what the people require are inspiration and hope. Not false ones though.
After all, “The ultimate measure of man is not in never falling, but in rising every time we fall”. A saying by Confucius or King. Can’t remember.
Adversities make us stronger. Experience is gained. Lessons are learned. We can utilise these instruments to work for a better tomorrow. It’s just a point, what insinuations?
Ok?
The only guy who I personally know who has successfully gone through one end and out of other side is Darkness. Darkness is much older than all of us. He’s like a lauchiau, he’s seen a lot of stuff.
He was retrenched once and he wrote about going through that abyss of self doubt – he described it as a “mind game.” I have linked it – I once asked Darkness whether he came out stronger and better as a result of it.
He smiled wryly and said to all of us that the only people who regularly pump out those sort of nonsense are usually people who have copper clad jobs themselves. I remember we all laughed. Darkness has a way of making light of heavy situations. It was a passing conversation during a cycling session, we all laughed; then he fell silent and turned inwards as if he was reflecting on some distant pain and he went on to tell us all in a very serious tone suffering is tautological and the only thing pain teaches is everyone can be hurt. There is no such thing as a baptism of fire or pain being some mythical teacher – its no good – pain is pain (period), and. Suffering doesn’t make anyone wiser or stronger and if someone drops a hammer on your big toe; you have every right to hop around like a red Indian with his pants on fire – and if you don’t, you’re just not human.
I personally found it a very honest sharing on unemployment.
I found out yesterday, I will be losing my job one week before Christmas.
I want to go to Russia and start a business. I am all ready – I am good to go.
Its everyman for himself. I know that sounds rotten, but there isnt much goodwill these days to go around. I am sorry, this is as good as it will ever get.
http://aaron-ng.info/blog/perceived-lack-of-linguistic-ability.html#comment-16498
Gilbert
You know something? When your letter came out in the newspapers, I immediately cut if out, got it enlarged to A3 size and put it on display at my office pantry! After that, tea breaks become a little longer because everyone stopped by and have a read. It was that powerful, definitely much better than wasting money on some “Who Moved My Cheese” or “FISH” workshop, I’d say that. This economic Katrina we’re entering is gonna slam us so hard, it makes 1997 and 2003 feel like catching breeze in the wind. Your letter is timely indeed!
let’s not get personal and hit on anyone. Focus on actions, focus on words spoke, focus on policies.
If anything, I will take Mr Tan anytime over MM Lee or PM Lee. At least he shows that he is still fighting for these people’s rights regardless of whatever ulterior motives he has. Imagine MM Lee doing that?
I have yet to experience unemployment for the simple fact that I have yet to entered the working world proper. My sympathies go out to all those affected, and I do hope they will find a job soon.
Our government has a duty to ensure that its CITIZENS’ welfare comes first, even at the cost of foreigners or whatever foreign talent. They should never be on par. Let’s not allow foreigners to depress our locals’ wages, but setting a minimum wage limit for Singaporeans and setting up laws that limit the limited “foreign talent” from coming in. I am open to foreigners who are truly capable and experienced in whatever field they are in, because they contribute significantly indeed to our economy. I draw the line, however, at foreigners who are equally or actually less qualified than our locals and take lower wages, thereby distorting our labour market and dragging down our locals in it. When our economy suffers, they are and should be the first to leave. However, what about our locals? Can they leave? No, they are left to pick up the whatever remnants of our economy.
all the best everyone.
Dear panther92
Your statement “Yep, this is the kind of article which should be posted at a time like this, not those Tan KL’s bid for presidency and such” is truly disappointing.
It is precisely at times like this that we need somebody strong to stand up, give directions and lead us
Your statement speak very much of typical Singaporean who is negative and only good at complaining at kopitiams
Your other statement “Tan KL will have to gain the trust of majority of the people other then the investors and the limited numbers of people here in order to get the signatures. If he attempted to collect the signatures BEFORE the mini-bonds issue blew up, do you think he’ll even get a thousand if the people actually looked at what their signature was intended for?” is also flawed
TKL is no stranger to most Singaporeans. TKL has led NTUC Income for almost 30 years, and has turned into the highest rated insurer in Asia, including Japan. NTUC Income is a household name where most pple can trust. TKL has already enjoyed a certain level of trust, repute and credibility, with or without the mini-bond saga
Your statement is a small-man thinking
Dear Gilbert
I have not encountered such experience before, nevertheless i wish to add if any company were to retrench the staff, that company most probably sucks anyway. It’s just a job. There’s a whole life out there
Mao/Sunny/Singaporedaddy/253SA/JRT/Tiredsingaporean/Panter92
Hi thanks for your comments on the article especially 253SA – you make my morning! I am touched to tears here.
Someone actually wrote on the ST forum commentaries the first time that it was published that she printed out the article and read it to her class of adult learners. That make my day too!
Maomao – thanks for your comments and ecnouraging words to all who are jobless here in Singapore. I have always advocated for unemployment benefit but have not the chance to bring it to the relevant authorities. ST forum didnt print one of my many letters on this topic.
Sugardaddy – my utmost heartfelt outpouring of empathy to you that you are going to be retrenched one week before Christmas but I realised that you have prepared yourself all along so it was very good. You have an exit plan so call. But why Russia? Kind of far and distant. But nevertheless very good indeed. Many who are retrenched went on to do great things and things that they have all along wanted to do but couldn’t because of the pay that the crappy job provides. So it is a new refreshing journey for you from now on. Go do something exciting and wonderful! There is life after retrenchment!
I am encouraged by Sunny too who to me must be a very positive person. Many people who are retrenched frequently are those that have high qualifications and are evry capable. Maybe they have turned too expensive to hire or the boss find that worker too threatening! I have heard bosses starting to fire capable junior staff for fear that they will take over their job some day. How sad can it get?
As more unemployment will reins it’s ugly head by next year, we must go all out to ensure that the unemployed will get the best possible help they can get.
Singapore can only survive if we stay strong together and help each other when we are down and out.
Gilbert Goh (#26),
What a timely article for our fellow citizens in need. Unemployment is set to rise in the next 2-3 years. With retrenchment in the background, citizens must be empowered with courage and the necessary knowledge to tide through hard times. Practical know-how is also important.
Employees who worry about retrenchment may take pro-active approach in mitigating retrenchment risk by discussing manpower and financial needs with senior management.
MTI has introduced the new loan scheme Bridging Loan Programme (BLP) to help firms meet their working capital needs during this current tightening of credit conditions. All local nterprises with more than 10 employees can access credit of up to S$500,000 under this scheme. The default risk will be shared equally by the government and the financial institutions.
Small businesses with no more than 10 employees have access to
SPRING’s Micro Loan Programme, which will be further enhanced to
provide unsecured working loans of up to S$100,000, up from the previous limit of S$50,000. The government will increase the proportion of risk sharing to 80% to ensure that participating financial institutions (PFIs) continue to lend to small businesses.
To ensure that SMEs can continue to access loans through the existing Local Enterprise Financing Scheme (LEFS) for the purchase of equipment, machinery and other assets, government will also increase its sharing of the loan defaults from the current 50% to 80% to alleviate the risk taken by PFIs.
Your [Panter92] statement speak very much of typical Singaporean who is negative and only good at complaining at kopitiams – JRT (#25)
Well said, JRT!
Panter92 (#8),
As soon as you have experienced national service and working life, I am certain your tone and perspective will change to go in line what many have echoed here in the TOC commentary thread.
There is no point in saying that in 2007,you expected some economic crisis to come and then claim that you had never expected technical recession to take place in 2008. With regards to further setbacks expected in the pipeline, of course will expect the PAP to solve them because the PAP is still the government of the day. If TKL is the government of the day, who will not expect TKL to solve these problems?
The magnitude of the global financial crisis is unprecedented. Singapore is the first competitive economy to enter recession because of our huge/excessive exposure to the global markets. Manufacturing and financial services account for 26% and 22% of our GDP in 2000 and these figures are expected to grow substantially between 2001 and 2007 due to global economic boom.
Obviously, the survival of Singapore is at stake. The survival of PAP is secondary. Does the PAP government have any 5-year plan or 10-year plan for Singapore? If the PAP government indeed has this plan, why is it not communicated to citizens? How can citizens take heed and participate if we weren’t informed in the first place? There is no master-plan at all, and that’s why we need new leaders to stand up. After all, it is often the circumstances that create heroes rather than heroes create circumstances.
TOC, Gilbert
You sure Gilbert got copywrite. I read that ST has copyright on its Forum letters.
Though it would be a PR balls-up if SPH sued you people.
Gilbert, TOC
What abt something similiar for the toxic notes investors?
Focusing on how to console, handle investors in the family (parents, spouse or siblings).
One gp that needs EQ help are the retired “sophisticated” investors. Their plight is two-fold. They lost serious money but are tot by many to “deserve it” as they didn’t read the prospectus
Singapore Resident #4….
I know where that came from …hahahaha!
I hate it man when they said htat…
Hi alls,
I count myself lucky to have never been retrenched before. But then again, I have been self-employed most of my working life. And yes, back in the early days when I left my first and last full time job in 2003, I was ever down to $5 in my bank account. Though I was staying with my parents, and during that period they didn’t expect to take a single cent from me, it was still a not-so-good period. Can’t imagine how I would take it if I were in Gilbert’s shoes.
I’ll never forget my ex-boss’s words to me though, when I broached the idea of quitting. (of course in the creative/media business, freelancing is a much more possible option compared to many other jobs) My boss said, “THE AGE OF THE IRON RICE BOWL IS NO MORE” To put it in context, it was during the 2001-02 recession, and where the company had axed 10% of staff and everyone took a pay cut.
As the nature of my industry is vastly different from the corporate world, I cannot claim to have any good advice. But I think it’s always important to keep my ex-boss’s words in mind. The funny thing is, even though everyone knows that in a capitalistic economy, you are bound to have a recession every 3 -5 years, everyone acts as if the fact doesn’t exist. Like the proverbial ostrich in the sand. I’ve seen so many people in my age-group (30s) in the corporate world spending on good days like there’s no tomorrow. Then next day they get axed and they really wished there’s no tomorrow. That is not to say I don’t sympathize with the bread-winners who depend on their jobs to feed their family.
Like it or not, there isn’t such a thing as job stability. Even in my business, the prospect of having no projects coming in is always a reality i had to deal with for the past many years.
But it’s counter-productive to be living in fear all the time. I will grow old very quickly if I have to think long term all the time – I usually work to ensure the next three months is secure, and in my free time expand my network because I can’t always depend on the same clients. Even my most regular clients don’t owe me a living.
Anyway. My point is, not sure how relevant it is to people who holds fulltime jobs, but not to ignore retrenchment as a possibility. I think when you live like you might be retrenched tomorrow, you will live very differently. You will only buy what your can currently afford. You will not want to live in credit. You will learn to see that many things you think are very important to own, aren’t that important. You will also see that it is wiser not to depend too much on your job security, and do something about it.
My dad is always proud of the fact that when he was around 40, he started preparing for his next jobs upon retirement. (He was from the army and back in the 90s, the retirement age was 50). In his free time, he went out to get license to drive all sorts of vehicles. When he was finally retired, he didn’t find himself at a loss. Because he holds so many licenses, he could go from being a crane operator to a bus driver, to a taxi driver until he finally settles for being a dispatch driver. It doesn’t pay as much as his previous job, but it paid the bills until we all could start working.
On my side too, I took on many different portfolios when I could; the diversity helps. When there’s no demand for directors, I took on writing projects. And so on.
I have to say that I don’t have as much burdens as many of you here have; just sharing a philosophy that might help. It might be easier said than done because after a long working day, the last thing anyone wants to do is to make plans. Sometimes (I hope no employers here because they will kill me for saying this), it might not be so wise to be working your ass off for your employers. Your employers may not want to axe you, but to your CEO, you’re just another digit. Work less, work smart, and start something on the side. If your wife wants to be a baker support her. You may find yourself eventually becoming the next owner of a bakery chain after you get retrenched. Then you will see that the retrenchment could be the best thing that happens to you. (And admit it – most of you hate your current jobs)
Lastly i hope no one here who is currently retrenched is offended. We can’t avoid retrenchments. My point is that we tend to delegate our survival to our companies. When you empower yourself to see that only you owe yourself a living, it may be better off in the long run. Cheers
A Tan
One gp that needs EQ help are the retired “sophisticated” investors. Their plight is two-fold. They lost serious money but are tot by many to “deserve it” as they didn’t read the prospectus
I’m afraid there’s nothing much we can do to help these folks, except offering a shoulder for them to cry on. :(
There is no need to be unemployed for months if you are able-bodied.
I applied for taxi license when I was employed during the good time knowing that I will need this one day. I paid the $15 license fee for many years.
When the axe finally falls on me. I immediately signed up as full-time cab driver and look for work at the same time. It is not easy as I was 43 years old.
Driving a cab is tough but at least it will bring in the much needed cash flow to keep the family of 6 going.
If more unEmployed are encouraged to register a biz,
does their unemployment status become self-employed? I think so.
So, does this method effectively remove him from unemployment statistics? I think so. if you have a registered biz, say to buy a minvan, but not much or no business or no business activity, then , are you still considered self-employed? I think so.
Likewise, when unemployed goes back to school.
But what is the real problem?
Is the problem still there?
How is unemployment rate measured? based on citizen alone? is there a statistic on citizens unemployment rate specifically?
just sharing my thoughts on unemployment.
I had the same experience. However, I was able to get a temp or contract work pretty fast while waiting for a perm job. Well, it all boils down to how high is your salary & position. Isn’t it? If you happen to be an executive director in your previous firm, just see how interviewer will view you if you apply for a job. If you were that capable to climb up to this position, you would have been headhunted by another company & not get retrenched.
hi panter92,
I just think you are messing up this thread. The way I see it no one really cares very much about TLK, not here at least. And another thing no one in his right frame of mind is just going to give him 100,000 unconditional votes based on a hope and a prayer. That kinda of thing doesnt even happen in the USA. So you’re got to be kidding me. So please try to quiet down. I really believe the webmaster should rein panter92 or at least reason with him.
Gilbert,
Thks great article and I guess you hit all the buttons, thats why it seems to be drawing out the dear john crowd. Great stuff and I am going to print it out to give it to few of buddies who are in the lurch.
Singaporedaddy.
Just want to say that I had the opportunity to met darkness personally. And he was certainly a very inspirational figure. very soft spoken, charming and good with the ladies as I remembered it. Eyes like a falcon. Infact, if I am not mistaken 9 out of 10 people who attended the tea party were actually female. Kinda of strange if you ask me. care to share why?
Sorry to hear about your job. That must be a bummer. Just wondering. Whats the whole low down on Russia? This isnt the first time you brought it up. I keep running across post where you keep saying, I want to go to russia. I am good to go. I just need one tank of gas and off, I am gone.
Just want to know why not china or the US, why russia? Isnt it a dangerous place? How are the laws there? Is it even safe or secure to do business there?
thx
hang in there guys!
Hi lecturer, darkness, Gilbert… singadaddy… would really love to know you guys personally. How shall we start? :)
Hahahaha~
You guys only pick out the bad examples. I gave lots of comments about the retrenchment issue and the government’s actions didn’t I? Read my posts properly.
I already said I’ll say nothing about Tan KL any longer, I agree that this isn’t the right place.
~sigh~
Will you be so kind as to do the decent thing and stop panter92 from commenting any further in this site? Everything was fine here until he came along.
39)Zefly:
Haha what do you mean? Meeting up in person or?
37)lecturer
Hi thanks for your support. Keep on doing good!
Gilbert et al
Mind me asking your respective ages? I ask this because somehow in this country we live in, you become a corporate persona non grata once you hit 40. I don’t quite dig it. It’s always folks in this age category who gets the big envelope. I’ve seen it in 1997, 2003 and now in 2008.
Is being an experienced working person such a dirty thing to employers, current and prospective?
And I’m asking this because I’m just 2 years short of this corporate twilight age.
Can the gov revert the GST from 7% to 5% to help the citizen cope with inflation.
For your information, the UK has reduced VAT from 17.5 to 15%. The first in their history.
“It’s great to see Governments can act quickly when they want to. The UK Chancellor has just announced that VAT will be cut from 17.5% to 15% effective from 1 December 2008 as an early Christmas present for consumers in the United Kingdom.
The main component is the well-trailed cut in VAT from 17.5 per cent to 15 per cent from Monday, which will expire in 2010. It is the first time that standard VAT has been cut across the board since it was introduced in 1973.
To support this change, we’ll be adding support for 15% VAT from 1 December 2008. To make the change smoother for users, we will leave the existing default tax rates and allow users to manually choose the 15% rate.”
From http://blog.xero.com/
47)253SA
Yes i have hit the oldish 40′s…
It could be a factor I don’t know. What do the rest think?
daniel
sorry oh we are in singapore, a nation built on meritocracy, not socialism or welfarism. The priority is to top up the nation coffer to make up the billions losses from citigroup/merill/UBS investment. reduce GST? u gonna be joking. According to MOF master plan, GST will increase gradually over the next decade to match that with the western counterpart, while reducing personal & corporate income tax to povide some rebate
hitachi08 ,
You are right. Whereas the UK’s christmas present is reduction of VAT, our christmas present is the unprecedented loss of billions of taxmoney and reserve over bad moronic investments, and increase of 22% hike of electricity, and more bailout of future crazy investment like casino. Such a “wonderful memorable Christmas” that the citizen ought to be “grateful”, and repaid the unprecedented “Christmas present” to our gov when the time comes.
“sorry oh we are in singapore, a nation built on meritocracy, not socialism or welfarism.”
No, no… have to be more specific, and speaking from observation,
the following remark applies to those high position like ministar, GLC, TH senior
“we are in singapore, a gov whose elite position is built on socialism or welfarism, not meritocracy”. (eg Losing billions and millions but yet able to stay on with elephant skin, if this are not welfarism and socialism, what is it ? Charity ?)
as for the rest of money-generator or digits for the gov, at least the original statement apply
“sorry oh we are in singapore, a nation built on meritocracy, not socialism or welfarism.”
“you become a corporate persona non grata once you hit 40. ”
Well, 40 means youth no more, risk no more, health no more, sex no more (oppss), money no more, baby no more, or worse, job no more etc.
As in chinese saying,
“30 is a insect, 40 is a dragon”, well I’m sure it refers to DRAGONFLY not the Chinese Dragon.
44)Daniel:
I doubt the govt will reduce GST as all along they have advocated that GST will replace our income tax.
GST is a big income earner for the govt’s coffers and will be tough for them if they reduce it. That will mean a huge reduction in income available for welfare programmes.
Britain did the right thing in reducing GST as 17.5% is like sky high.
As many have said that GST is a regressive tax and I agreed. It hurts the pockets of the poor and middle income more. I can’t imagine how the govt will reduce GTS for now.
I will be pleasantly surprised if they reduce GST at all. I am only afraid that it will go up some more but maybe not this year or next.
Gilbert Goh,
Indeed it is not only a money-spinner, it also a excellent perception creator. It makes Singapore looks good financially and in number quicker than other countries. One major reason for GDP growth is actually the GST aside from high influx of capital and foreigners here. So after election, the gov will DEFINITELY increase the GST again to make Singapore the fastest growing economy of Asia and the world again, which give more reason to increase their own salary again. GST not only tax consumer, it may also tax the supplier multitudes of time in supply chain. It is indeed repressive as you have mentioned. So next time, when those clowns ask for salary increment, ask them how much GST contribute to the very same GDP which the clown’s salary pegged against.
So do not be deceived and proud by the so-called high economic growth again which is done at the expense of the citizen.