Retrenchment refers to the reduction in the workforce, typically from a period of rapid expansion. It is a very powerful force in the business world. Its impact on an organization can be huge and can affect both employees and service providers. As a result, it can cause a lot of damage to the organization if not handled properly.
The following are tips are useful for retrenchment in Singapore;
- Have a side hustle
As an employee, it’s very easy to let the days go by without having a side hustle. You will be completely aware of this. You should take up a side hustle that you can pursue for at least a year or two. This will give you some interest in the world which will help perk you up during those times when work slows down and your salary is less than stellar. This can be anything from taking up freelancing to starting a small business.
- Stay connected
Even when you’re not working, stay connected to the world. Stay in touch with old friends and colleagues. Even if you’re not in touch, as a human being, you want to keep track of former friends even if it’s just on Facebook. This is one of the best tips for dealing with retrenchment since the connection will keep your morale up and can reduce the chances of feeling down while dealing with retrenchment.
- Be patient
It takes time to adjust to a lower salary or an increase in workloads that come with retrenchment. Even after adjusting, it may take a few days for your blood pressure to become normal again. Staying patient can make all the difference as far as feeling depressed or looking gloomy while going through retrenchment.
- Stay positive toward your manager
Your boss might be a tyrant who is hell-bent on dragging you down with him or her in the world of retrenchment. If you can remain a positive person, then it will benefit you during this turbulent time. It may be hard to stay positive, but staying this way will help you later on.
- Be a team player
For a lot of people in the workforce, the notion of being a team player is not taken seriously enough. Yet, if it were to become a thing, it would bring in the best results when dealing with retrenchment. It’s all about being part of a team and working with other people rather than against them. It will help you through those hard times when you are trying to deal with retrenchment.
- Stay active and in shape
Maintaining a healthy body not only helps in dealing with retrenchment but also in the long run. You can even start running marathons or play basketball if you’re dealing with retrenchment. It is one of the best ways to stay healthy and active while dealing with retrenchment.
Retrenchment is something that every organization has to deal with at least once. However, as an employee, you have the responsibility to ensure that you do not go down with the ship. You can do this by remaining positive and staying connected to the outside world. It will help keep yourself healthy and make dealing with retrenchment a lot easier.