Coping with retrenchment when a baby is on the way | Work It podcast

Work It Podcast Season 4: Navigating Career Pivots and Retrenchment

Key Concepts:

• Career Pivots
• Retrenchment
• Emergency Savings
• Lifestyle Adjustments
• Grief Cycle (Denial, Anger, Depression, Acceptance)
• Upskilling
• SkillsFuture Credits
• Character References

Season Introduction and Highlights

• Tiffany and Gerald introduce the fourth season of the "Work It" podcast, promising stories, tips, and advice for navigating work life.
• Gerald reflects on personal growth through past seasons, particularly learning from guests.
• Tiffany highlights the focus on career pivots, citing the example of Jane, a flight attendant who became a software engineer by coding in hotels during layovers.
• The season will also address challenges like retrenchment, especially when compounded by other life events.

Luke Jao's Retrenchment Story

• Background: Luke Jao shares his experience of being retrenched from an MNC in October, a year after joining. The retrenchment was unexpected, especially considering the company's announcement of a billion-dollar factory in Singapore.
• Preemptive Warning: Luke's supervisor gave the team a heads-up a month before the official announcement, advising them to look for other opportunities. This caused confusion and denial within the team, especially among older employees nearing retirement.
• Life Circumstances: At the time of retrenchment, Luke and his wife had recently moved into a new house, bought a car, and were expecting their first child. His biggest worry was potential health complications for the baby due to the stress.
• Financial Adjustments:
  • The couple cut down on lifestyle spending, switching from Sushiro to Sushi Express or FairPrice sushi.
  • They started cooking at home more often and exploring wet markets for cheaper ingredients.
  • They tapped into their emergency savings (3-4 months' worth), with Luke using about half.
  • They reduced air conditioning usage, recycled water, and switched from premium tissue to toilet paper.
• Company Support: The company provided a retrenchment package and an additional two weeks of leave due to Luke's impending parental leave. Luke advises others to negotiate their packages with HR.
• Mass Panic: Luke estimates that over 90% of his department was let go, but the preemptive warning helped people prepare.
• Post-Retrenchment Actions:
  • Luke focused on caring for his newborn and wife, acting as a "nanny" to save on childcare costs.
  • He took time to grieve the loss of his job, recognizing the emotional toll of the situation.
  • He utilized SkillsFuture credits to enroll in a cloud architecture course at NTU, pursuing a long-held interest. The course cost him $3,800 after subsidies, compared to the full cost of $15,000.
• Grief Cycle: Luke describes experiencing the grief cycle (denial, anger, depression, acceptance) after his retrenchment. He had to actively manage his anger and frustration while caring for his infant.
• Support System: Luke emphasizes the importance of his support system, including his wife, mother-in-law, and community, who provided emotional support and practical assistance like hand-me-down baby clothes and supplies.
• Future Plans: Luke aims to find a stable job that allows him to plan for the long term and potentially utilize his cloud skills.
• Advice for the Retrenched: Luke advises focusing on self-assessment, avoiding blame, and leveraging available resources to improve oneself.

Ask Me Anything: Character References

• Question: Listener Ysef asks about companies seeking character references from colleagues or friends, not just supervisors.
• Rarity: Tiffany and Gerald find this unusual, as reference checks typically focus on professional conduct and work-related ethics.
• Possible Explanation: It could be a supplementary layer to assess both professional and personal character.
• Reference from Current Supervisor: Asking a current supervisor for a reference can signal that you're looking to leave.
• Ideal References:
  • Former supervisors from previous companies are generally the best choice.
  • Offer multiple references (1-2 former supervisors) and let the recruiter choose.
  • Include diverse references from different industries or job lengths.
• First Job Scenario: If it's your first job and you're career-switching, consider asking an industry colleague or a lecturer for a reference.
• Peer References: Peers who have moved to other companies can also provide valuable references.
• Informing Referees: Always inform your referees that you're providing their names to HR.
• Declining to be a Reference: Politely decline if you don't feel you can adequately validate the person's experiences or if the job is too different from your knowledge of them.
• Reason for Declining: Explain that you don't want to sabotage their chances by providing an inadequate reference.

Synthesis/Conclusion

The podcast episode explores the themes of career pivots and dealing with unexpected job loss. Luke Jao's story provides a detailed account of the emotional and practical challenges of retrenchment, highlighting the importance of financial planning, emotional resilience, and leveraging available resources for upskilling. The "Ask Me Anything" segment addresses the evolving landscape of character references, offering practical advice on selecting and managing references effectively. The key takeaway is the importance of adaptability, resourcefulness, and maintaining a positive outlook when navigating career transitions.