Tips on How to Deal With Retrenchment in Singapore

It might be hard to believe, but in Singapore, around 1 in 10 people are retrenched in a span of five years. These are astounding figures when you consider the average working lifespan in Singapore is about 40 years! If you’re wondering why there’s such an issue with retrenchment, this article will explore how to deal with retrenchment and what you need to know about it. We’ll also answer the questions on your mind like “can I get compensation for being retrenched?” and “can I sue my company for wrongful dismissal?”

Why Is Retrenchment So Common in Singapore?

It’s not just Singapore that is experiencing such high numbers of retrenchment; this phenomenon is happening across the region.

The reasons for retrenchment vary, but the most common reason seems to be that companies are struggling to stay afloat due to a lack of profitability. This in turn causes companies to cut costs in order to survive and continues the cycle of retrenchments.

According to The Straits Times, analysts estimate that between 60-70 percent of employers have delayed hiring as a result of the economic climate.

So what are some ways you can prevent yourself from becoming one of these statistics?

Tips For Dealing With retrenchment in Singapore

1. The first step to dealing with retrenchment in Singapore is learning as much as you can about it. You need to know what you’re up against. It’s not just your company’s decision of whether or not to let someone go, but also the government’s decision. Understanding the government’s role in this process will help you understand how to advocate for yourself and your rights.

2. A common question that people have when they’re retrenched is, “Can I get compensation for being retrenched?” If yes, then there are a few things to keep in mind:

– If you work in a unionized workplace, the answer is yes…but only if your union can negotiate a better deal for you

– If you work without being covered by a collective agreement, the answer is no…you’ll still be entitled to severance pay at the prevailing minimum wage rate, but that’s all

– If you were technically laid off (i.e., not fired), then you should be entitled to unemployment benefits from your state government, which would be available during any period of unemployment following your retrenchment

Can You Sue Your Company For Wrongful Dismissal?

It might come as a shock to you, but many people are fired from their jobs in Singapore. In fact, according to the Ministry of Manpower, over the last ten years, nearly one in five employees in Singapore will be retrenched within a span of five years. The fact that so many people are being let go is shocking, especially when you consider the average working lifespan is about 40 years!

Why is there such an issue with retrenchment in Singapore? Well, there are several reasons for this. For starters, demand for manpower has been on the rise, in fact, it’s at its highest in recent history. This often leaves employers feeling like they need to cut costs and reduce expenses in order to maintain their success and keep up with the competition. In addition to this, many companies will not be able to pay out salaries or salaries that are high enough to keep up with inflation rates while they try to expand into new markets.

So what does this mean for you? It means if you’re employed by one of these companies and your company decides not to renew your contract after your time is up and fire you without cause or notice (which unfortunately happens more often than we might think), then you have grounds to file a lawsuit against

Can You Get Compensation For Being Retrenched?

This is a big question that many Singaporeans are asking themselves. In Singapore, the Employment Act sets out specific criteria for when a retrenchment in Singapore can be grounds for compensation.

The six factors are:

– Whether you were dismissed in a fair manner;

– Whether you contributed to your dismissal by misconduct or wilful default;

– Whether the redundancy and retrenchment was necessitated by one of the Act’s purposes;

– Whether your employer-provided previous notice of the redundancy and retrenchment; and

– Whether you have been given an offer of suitable alternative employment.

Conclusion

Retrenchment is a difficult process that can cause some stress and anxiety. Despite this, it’s important to understand what retrenchment is and how you may be affected.

We hope that this article will provide some insight into the topic of retrenchment, helping you better manage your emotions during the difficult process.