The COVID-19 pandemic has definitely modified the enterprise panorama in Singapore. Caught off guard, many companies have been compelled right into a sink-or-swim scenario, and with revenues drying up, many needed to resort to cost-saving measures to make sure their survival.
One among these measures, as anticipated, was to impose hiring freezes and retrench employees. A number of months in the past, the crypto area noticed quite a few firms lay off employees. The tech sector was additionally rocked by layoffs with 17,000 tech employees laid off in Might alone.
Based on the Ministry of Manpower (MOM), the overall variety of retrenchments in Singapore rose to 1,600 within the third quarter, from a earlier all-time low of 830 through the earlier quarter. Of those, the bulk have been within the companies sector. This rise, based on MOM, was a results of firms’ reorganisation or restructuring.
Whereas retrenchment could also be a threat for a lot of, the results should not at all times equal. Being retrenched in your 40s or 50s, with youngsters to assist and aged dad and mom to care for, implies that retrenchment might be much more devastating for mature PMEs than for these with out dependents. But, these PMEs additionally report that they’re far much less optimistic about their prospects for the longer term.
So why are they — with their wealth of expertise — not assured about getting a job, and what’s being finished to assist them?
Understanding the wrestle
Based on a survey by NTUC and the Singapore Nationwide Employers Federation (SNEF), PMEs felt that their age was a big drawback. Whereas they have been assured of their expertise, they have been much less assured about getting employed.
Whereas 58 per cent of mature PMEs surveyed have been assured in getting a job with their expertise and capabilities, a good portion of PMEs additionally cited age-related issues as to the rationale why they weren’t getting employed.
63 per cent of those PMEs felt that employers perceived them as simply replaceable on account of their age, and 71 per cent of mature PMEs felt that firms weren’t open to older employees.
As such, some PMEs even settle for vital pay cuts to stay employed. Others additionally report that they face age discrimination within the office, and really feel fearful about competitors from international PMEs.
On high of this, we must also perceive that as Singapore develops, the talent units that have been as soon as unusual and in demand might now not be so, and since mature PMEs might have gained their expertise earlier than such shifts, time itself may very well be making their expertise irrelevant and damage their employment prospects.
Youthful PMEs, however, are much less involved about their future. Based on the survey, youthful PMEs have been extra assured about profession alternatives, extra assured about their present expertise, and considerably much less fearful about age being an obstacle to their employment.
Actually, solely 27 per cent of respondents aged between 20 and 40 years previous felt that they have been simply replaceable on account of their age.
That is considerably anticipated – youthful PMEs with newly-learned expertise have much less to concern about their expertise changing into subtle, and their age is much less of an element as a result of there are much less more likely to be issues about them having to juggle work commitments with household time.
What assist can PMEs anticipate?
The NTUC-SNEF PME Taskforce (PME TF) was set as much as higher perceive the issues and wishes of PMEs within the office.
For the reason that PME TF was arrange in 2020, it has been actively partaking PMEs and enterprise leaders to be able to higher perceive the challenges that PMEs face. In 2021, it launched its report together with 9 suggestions to assist PMEs compete pretty and extra successfully within the labour market.
One of many programs of motion that the taskforce really helpful was to enhance Human Sources requirements and imposing these requirements in firms the place discrimination takes place.
To that finish, the Tripartite Committee on Office Equity is anticipated to launch its report by the top of the 12 months, and work with the Institute of Human Useful resource Professionals to certify HR professionals and enhance HR requirements and practices in firms.
Nonetheless, NTUC assistant Secretary-Normal Patrick Tay, who co-chairs the PME TF, has famous that such employers are within the minority.
Happily, the final sense (is) that there are solely small numbers of errant employers. So I believe one of many key issues we hope to see is to deal with a few of these extra egregious instances particularly.
– NTUC Assistant Secretary-Normal Patrick Tay
Singaporeans, together with mature PMEs, are additionally inspired to attend programs for upskilling and certification to extend their employability. SkillsFuture credit are made obtainable to Singaporeans to attend these programs, and MOM has been working to advertise employer recognition for these expertise.
That stated, the implementation of those measures don’t merely imply that the programs can be taken up. There’s a idea of alternative price, the place taking a sure motion would imply giving up the prospect to take a special possibility.
For PMEs who’re actively working, this might imply having to resign from their present job earlier than they will enrol in such upskilling programs, and having to discover a new job as soon as they full their upskilling programs.
Definitely, this isn’t a perfect scenario. Mature PMEs, as we now have seen, face difficulties in securing a job due to their age, and since they could even have youngsters to assist and fogeys to care for, the misplaced earnings might pose a monetary drawback.
As a part of the 9 suggestions by the taskforce, NTUC has really helpful that stronger unemployment assist be offered for PMEs who’re shifting into new jobs, with further assist for union members and mature PMEs.
At an engagement session on 2 November 2022 on the Star Vista, Manpower Minister Tan See Leng affirmed that the federal government has heard NTUC’s requires unemployment assist for employees and is at present taking a look at the way it can higher assist displaced employees.
The occasion noticed over 60 PMEs partaking in focus group discussions and a dialogue session with Dr Tan and NTUC Secretary-Normal Ng Chee Meng.
Tay beforehand identified that 80 per cent of unemployed employees take six months to discover a new job, and has consequently really helpful that the federal government present short-term wage assist of as much as 50 per cent – capped at S$3,800 a month for six months – for corporations that rent mature PMEs.
Moreover, NTUC has additionally supported PMEs by way of Firm Coaching Committees, to assist them with their profession development and profession planning.
Evidently, Singapore’s PMEs can rely on NTUC and the federal government for some assist. As Tay joked throughout an NTUC’s #EveryWorkerMatters Conversations occasion at LinkedIn, “I’m not a Liverpool fan, however you’ll by no means stroll alone.”
What can PMEs do within the meantime?
At the moment, MOM remains to be reviewing the suggestions that NTUC has offered by way of the PME TF, together with its proposals to offer unemployment assist for retrenched PMEs.
Since PMEs have shared that they might very a lot admire interim help within the occasion of retrenchment, Ng has additionally expressed that he hopes MOM would strongly assist the proposals.
NTUC Singapore remains to be lobbying for unemployment assist for our PMEs, which is able to present interim help and much-needed help to susceptible PMEs. I do know that MOM is reviewing this suggestion and I’m conserving my fingers crossed as a result of this transfer will go a protracted method to assist our PMEs’ welfare.
– NTUC Secretary-Normal Ng Chee Meng
Whereas each Ng and Tay have promised to proceed championing the pursuits of native PMEs and pushing for extra assist for mature PMEs, additionally they harassed that NTUC additionally understands that there’s at all times room for enchancment.
As such, Ng encourages employees to talk up about their wants, in addition to their aspirations for the longer term.
By way of #EveryWorkerMatters conversations, we are going to have interaction you to higher perceive your work-life wants. NTUC desires to champion your pursuits.How can we allow you to improve expertise and compete on this new atmosphere? How can we defend the susceptible employees amongst us? How can NTUC offer you higher assurance as your wants in life evolve?
– NTUC Secretary-Normal Ng Chee Meng
No organisation can fulfil its goal with out data. Though NTUC has been actively partaking many PMEs to grasp their wants, it’s asking for much more PMEs to voice any issues that they could have, in order that it could higher fill any gaps which have to this point been left unaddressed.
With the suggestions that NTUC has put forth thus far, it appears clear that NTUC believes strongly in its trigger for championing the pursuits of the native workforce, and it desires you to assist them make it easier to.
When you have any points or issues concerning retrenchment or employment, NTUC is keen to hear and assist. You possibly can kick begin a dialog that can assist to form a greater future for you right here.
This text was written in collaboration with the Nationwide Commerce Union Congress.
Featured Picture Credit score: Piloto Asia
