It's unfortunate that not everyone was able to hold onto their jobs during these trying times. The COVID-19 season has led to a number of job losses - as the world enters global recession with impact of Covid-19. Singapore being an important global economic trading hub, is not spared as the Monetary Authority of Singapore expects unemployment rate in Singapore to rise to 3.5% in 2020.
As a supporter of jobs as a recruitment agency in Singapore, we empathise with the current struggles job seekers and employees are facing during the pandemic.
If the impact of income loss has happened to you, there are some steps you can take when you’ve lost your job during the current COVID-19 season:
1. Apply for Temporary Relief Fund Packages
You might have already heard of this. As part of the 2020 Resilience Budget, the Singapore government is looking to support lower-to-middle income Singaporeans facing job search difficulties or even income loss. Dubbed the ‘Temporary Relief Fund’, the scheme will provide struggling Singaporeans with a one-time payment of $500, like financial aid.
To qualify for the ‘Temporary Relief Fund’ the following eligibility criteria will have to be met:
Singapore Citizens or Permanent Residents ages 16 and above
Suffered a substantial loss of income (more than 30%) due to the COVID-19 pandemic. Singaporean and Permanent Resident employees claiming this will have to prove that the loss of income occurred after January 23, 2020.
Was retrenched after January 23, 2020.
Had a gross monthly income of $10,000 or less. Or a gross monthly capita income of $3,100 or less prior to the loss of a job, or pay reduction.
Currently not receiving any form of ComCare assistance (i.e. Long-Term Assistance, Short-to-Medium Term Assistance, Interim Assistance).
Additionally, there’s a host of other financial assistance and government aid that Singaporean employees can apply for during this COVID-19 situation. For instance, freelancers or part-time Singaporean employees can apply for the Self-Employed Person Income Relief Scheme (Sirs), to name a few!
Are you an employer? Learn more about the varying financial aid and government subsidies the Singapore government will provide for both your organization and employee here.
2. Stay Positive, Don’t Despair
We understand just how hard it is to stay positive at times like this. But it’s important to stay strong in spite of the tough road ahead.
With the amount of tragedy going on during the current COVID-19 season, here are some ways for you to let those negative emotions out:
Savour the tiny moments: Think back to your day, today. Whether or not it’s been laced with bad moments, there have to be some good instances in your day. If you’re having trouble - take five minutes of your day and jot down the things you’re thankful for in a little notebook. You’ll be surprised at the number of things you find that you’re thankful for!
Ask for help. Talk to someone: Humans are social creatures - no matter how introverted you are. There is always an inherent need to connect to someone else, especially during disastrous times. Talking to someone you trust might help you unload some of your negative feelings. If talking about your personal problems with your friends or family might seem like a problem, then you might want to contact a professional to talk to. We’ve listed a few places with free services you can talk to in our article, “How to Stay Sane When Working From Home in Singapore”.
Indulge in your (legal) vices: Try not to be too hard on yourself during this time. We’re only human - which is why it’s ok to indulge in some of your legal vices. What are some of your favourite things to do, when you’re looking to unwind? We love to binge-watch shows on Netflix, play Maplestory and Animal Crossing, and indulge in some of our favourite foods to tell you the truth.
3. Consider Contract or Temporary Positions
It might be hard, but it is very possible to renew your job hunt to help you tide over the tough times. Try looking out for contract, part-time, or even temporary job positions to help you get some job experience until the pandemic is over.
We’ve linked some of the best job search and websites for Singaporeans to help you get your contract or temp job search started! Check them out below!
4. Make Use of What's Free: Your SkillsFuture Credit
Did you know that your SkillsFuture credit will soon expire by December 2025? Additionally, are you aware that a one-off top-up of $500 worth of SkillsFuture credit will be gifted to Singaporeans aged 25 years and above? If the unfortunate has happened to you and you have spare time to kill, we highly recommend upskilling yourself. As a recruitment outsourcing agency in Singapore, some sectors that we believe to be recession-proof include the tech and cybersecurity sector, healthcare, as well as some areas in banking and finance.
Whether you’re a fresh graduate in your twenties just starting out or a mature worker looking to switch career paths. Reskilling is a great way to stay relevant in the job-hunting game. Here’s one piece of advice we’ll leave you with: take the time to research and find out which industries and positions in Singapore are on the rise.
Alternatively, you check out our 2020 Realistic Salary Guide for Singaporeans, for more information.
Let's stay healthy, stay responsible, and get through this together!
Do keep an eye out on BGC Group’s blog for more news, tips, and information on what employees and job seekers can expect during this COVID-19 season. In the meantime, please check out our blog for more tips and tricks to help you build, strengthen, or even switch career paths.