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Retrenchments up in Q1 2019

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https://www.straitstimes.com/singapore/manpower/bulk-of-retrenched-residents-in-q1-are-pmets?utm_medium=Social&utm_campaign=STFB&utm_source=Facebook&fbclid=IwAR13OYfSCesKhpwi9zdVeXVcXc_AdXVvxG3iPad5b8tAYEBo7XTN_-AAJBk#Echobox=1560470386

 

 


Professionals, managers, executives and technicians (PMETs) continued to make up the majority of retrenched residents in the first three months of this year, and will bear the brunt as the employment outlook worsens, say experts.

Close to 70 per cent of retrenched residents were PMETs, as they form a higher share of the workforce and were more prone to such job losses, the Ministry of Manpower (MOM) said in its labour market report yesterday.

This remains higher than the share of PMETs in the workforce, who are vulnerable to job loss due to technological disruption and slowing economic growth, said DBS senior economist Irvin Seah.

Another contributory factor is that although the authorities have tightened policies on hiring lower-skilled workers from abroad for many years, the tightening for mid-to higher-skilled roles is comparatively less.

"We are heading into an (economic) down cycle, and it will play out on the labour market. PMETs will be the ones who bear the brunt," said Mr Seah, who expects improvement in growth only in the later part of the year.

National Trades Union Congress assistant secretary-general Patrick Tay stressed the need to support PMETs, who will continue to make up most of the layoffs. He added: "If you look at the profile of retrenched residents... degree holders and older workers are more vulnerable."

 
 
 
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A key issue is the job-skill mismatch, with PMET jobs typically requiring deep expertise, he said, noting the need to train workers in areas of growth such as professional services as well as information and communications technology, taking a proactive approach ahead of disruption.

 

Mr Seah added that apart from professional conversion programmes, the Government can consider other measures such as a temporary deferment of income tax payments for retrenched workers.

Yesterday, MOM also said that the seasonally adjusted resident long-term unemployment rate for residents aged below 30 rose from 0.5 per cent to 0.9 per cent over the quarter, after trending down from December 2017.

This refers to the share of residents in the labour force who were unemployed for at least 25 weeks.

As a larger proportion of job seekers below 30 left previous employment due to job dissatisfaction, MOM said that they are more likely to invest time to search for a better job match.

Mr Tay cautioned that the longer the workers stay out of the workforce, the harder it tends to be for them to re-enter it.

He added that apprenticeships, internships and work trial programmes are available to help workers transit to new employers or industries, adding that NTUC can do more to provide support.

While it is the first time in recent years such a sharp pickup in long-term unemployment for residents under 30 has been seen, Mr Seah added that it is a point of concern, expressing worry for the younger Singaporeans' employment prospects.

The MOM report also showed that while the six-month re-entry rate among retrenched residents rose for a second consecutive quarter, to 66 per cent, this was not the case for residents below 30.

PMETs and degree holders continued to observe below-average re-entry rates as well, although their rates have trended up from the first quarter of 2018, said MOM.

There were still more job vacancies than in the same period a year ago, with PMET openings contributing the bulk of the increase. These are mainly in areas such as financial services and professional services.

 
 
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Posted (edited)

A key issue is the job-skill mismatch, with PMET jobs typically requiring deep expertise, he said, noting the need to train workers in areas of growth such as professional services as well as information and communications technology, taking a proactive approach ahead of disruption.

*******

 

 

I often ask this question to the job recruiter.

 

Does a 100 % match in both skill and qualification equals a better chance of getting into the workstream?

 

The honest ones will tell you nope. It depends on the hiring manager and his preference as some only have a mere 50% matching requirement but thats what the hiring manager wants.

 

So the story goes, the client will pass the candidate name and contact and put him on the contractor payroll.

 

The "recruiter " will go recruiter to meet the stipulated requirement of the employment landscape.

 

Open secret , but still happening.

 

SO while skills and experience helps to get you back on the horse, sometimes (most often) you are on a fool's errand.

 

 

 

Edited by Sdf4786k
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some areas to reskill and in demand

 

1.  WHS qualifications

 

2.  BME.  Strong demand

 

3.  Clinical research and trials

 

4.  Python/R and machine learning skills

 

5.  Drone competency (not yet, but good to have)

 

 

Also, have a good network of pals to share ideas etc.


Like I share openly, there are many ways to gain employment

 

and on this note, congrats to @adrianli and all the best in your future career and it will be a good career to embark on.

 

Beep me if you need any help

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Posted (edited)

some areas to reskill and in demand

 

1.  WHS qualifications

 

2.  BME.  Strong demand

 

3.  Clinical research and trials

 

4.  Python/R and machine learning skills

 

5.  Drone competency (not yet, but good to have)

 

 

Also, have a good network of pals to share ideas etc.

 

In addition to these is blue prism. Getting hotter. Its the chat bot that replace the work of sales folks for telephony inquiry.

 

and this needs many years of in and out including Hadoop . So while you may be certified in this area, its starting to be like those that took a degree in being a Psychiatrist.

 

Many are still trying to get into the door after graduating.  Python/R and machine learning skills  You are right in speaking about the elephant in the room. 

 

Sometimes its who you know rather than what you know and are good at.

 

BME as long as you are familiar with HL7 and 11700 , you should be in pretty good demand.

Edited by Sdf4786k
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In addition to these is blue prism. Getting hotter. Its the chat bot that replace the work of sales folks for telephony inquiry.

 

and this needs many years of in and out including Hadoop . So while you may be certified in this area, its starting to be like those that took a degree in being a Psychiatrist.

 

Many are still trying to get into the door after graduating.  Python/R and machine learning skills  You are right in speaking about the elephant in the room. 

 

Sometimes its who you know rather than what you know and are good at.

 

BME as long as you are familiar with HL7 and 11700 , you should be in pretty good demand.

 

 

 

too true bro...and in the end, it's about being flexible and amenable to change

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too true bro...and in the end, it's about being flexible and amenable to change

 

sometimes its detrimental as well.

 

The hiring manager start to sense that you not too sure of the direction you heading and starting to diversified your portfolio.

 

While its good to be good in one skill, sometimes its also good to look at secondary area to be able to branch out. else, like they say, being flexible and take a part time job lectring may show that you are slowly eroding your self worth and just not worth considering you for the role.

 

I strong advise working with a honest and open recruiter, rather than a recruiter that does transactional services like a waiter to serve the food.

 

A good recruiter does some heads up for you like what the client put in the JD and what the client really wants to achieve which is out of the job scope or hidden agenda.

 

I had one who told me this role is to clean up the irregularity of the contractor who is been schedule to be replace.

 

So when you read the powerpoint slide on the current incumbent and put it into a powerpoint slide, it has to be iffy and so that you don't get into a ugly situation.

 

The key words would be the current vendor journey and vision of the enterprise roadmap and would be included by MM YY and need the leaders to endorse .

 

Sometihings it like WTF - Wow Thats Fun. 

 

So that if the slide gets into the hands of the vendor, it can be interpreted in multiple format.

 

And that's how the dices is rolled at 30,000 ft. 

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Bad timing,  I am very sure bosses will have great excuses to cut bonus and increment even through it was was for past performances. 

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Better send to Mr Seah, economists also in trouble.

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When a person is retrenched, does it mean it is all the person's fault? 

 

When the knife falls, those that happens to be on the wrong side of the salary scale will have to go.

 

The more senior you are, the higher the salary scale within the band, without being able to cross over to the next management level, you are open season for the pencil pushing finance looking to cut cost.

 

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some areas to reskill and in demand

 

1. WHS qualifications

 

2. BME. Strong demand

 

3. Clinical research and trials

 

4. Python/R and machine learning skills

 

5. Drone competency (not yet, but good to have)

 

 

Also, have a good network of pals to share ideas etc.

 

Like I share openly, there are many ways to gain employment

 

and on this note, congrats to @adrianli and all the best in your future career and it will be a good career to embark on.

 

Beep me if you need any help

 

A thousand thanks to you and your advices.

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When a person is retrenched, does it mean it is all the person's fault? 

 

When the knife falls, those that happens to be on the wrong side of the salary scale will have to go.

 

The more senior you are, the higher the salary scale within the band, without being able to cross over to the next management level, you are open season for the pencil pushing finance looking to cut cost.

 

There's a reason why companies starting to get more contractors instead of perm role.

 

Because when times are bad, they just cut the contract staff and dont need to pay retrenchment benefits and worry about the emotional roller coaster ride of working with the person for 10 years and doing the deed.

 

Yup, thats true, but sometimes its also new bosses wants to bring in his old team from the last company, so while you are cut from the workforce, it may not be the case of bad performance, just preference for same group of cronies that he used to hang out with.

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Posted (edited)

So long one is willing to work, high salary or low salary just take it till you find something better.

 

Wont die one, pride and expectation can be lower in accordance to situation.

 

 

My 1 man opinion, media seems to be shaping for a coming election

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Edited by Staff69
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Posted (edited)

want to know the magic bullet ?

 

6 months later, the figure will be reverse.

 

Reason is EVEN IF the unemployed is still looking for a job, it will be assumed that they have decided to "retired" and the numbers are taken off the stats.

 

When that happen the unemployment number goes down and the employment rate has improved.

 

A better way of measurement would be to use big data and actual "pulse beat " of the country.

Edited by Sdf4786k
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Bad timing,  I am very sure bosses will have great excuses to cut bonus and increment even through it was was for past performances. 

 

but gahmen people have mid year bonus leh… [confused]

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Yep. Its to ask the people to vote for the ruling party for job securtiy?

So long one is willing to work, high salary or low salary just take it till you find something better.

Wont die one, pride and expectation can be lower in accordance to situation.


My 1 man opinion, media seems to be shaping for a coming election

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i knew it ... ave out with FT ... no wonder every year also say low unemployment rate .

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A thousand thanks to you and your advices.

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but gahmen people have mid year bonus leh⦠[confused]

If you cannot win them, join them lor.

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i knew it ... ave out with FT ... no wonder every year also say low unemployment rate .

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and on this note, congrats to @adrianli and all the best in your future career and it will be a good career to embark on.

 

Beep me if you need any help

 

Gongxi gongxi @adrianli.

 

Found a new job already ah? Similar industry?

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Gongxi gongxi @adrianli.

 

Found a new job already ah? Similar industry?

Nope. Still jobless. Going back to school to study. Healthcare industry.

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Posted (edited)

I encourage everyone to go into healthcare.

 

I myself work in a health centre.

 

But it's not easy work. It's a strain on the back and it's dirty and oily work.

 

:D

 

I forgot to add unsociable hours as well.

 

Night time have to work. Weekends have to work.

 

And some ladies are very demanding.

 

Take advantage and ask me to rub extra places.

Edited by Jamesc

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want to know the magic bullet ?

 

6 months later, the figure will be reverse.

 

Reason is EVEN IF the unemployed is still looking for a job, it will be assumed that they have decided to "retired" and the numbers are taken off the stats.

 

When that happen the unemployment number goes down and the employment rate has improved.

 

A better way of measurement would be to use big data and actual "pulse beat " of the country.

Welcome welcome

to join my unemployed brotherhood society

When a person is retrenched, does it mean it is all the person's fault?

 

When the knife falls, those that happens to be on the wrong side of the salary scale will have to go.

 

The more senior you are, the higher the salary scale within the band, without being able to cross over to the next management level, you are open season for the pencil pushing finance looking to cut cost.

On the contrary, when a person is retrenched, it is clearcut that it is not the fault of that person.

Therefore these people are compensated.

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Nope. Still jobless. Going back to school to study. Healthcare industry.

Its ok just join the brotherhood, bro!

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