5 things you need to do if you get retrenched from the job
According to the Statistics Department, Malaysia has going thru 5.3% employment rate in May 2020, where the number of unemployed persons rose by 47,300 to 826,100 individuals. The number is expected will continue rise as the economy experiences a sharp slowdown during the second quarter of the year.
If you are one of the unfortunates few to lose your job, what you need to do the next?
Firstly, you have to stay cool during this difficult time. Most of it has nothing to do with your skills or you as a person. There are a lot of reasons why organizations change or are forced to restructure especially during this COVID-19 period. Thus, stay calm and look at the below are the 5 things you can do to deal with the retrenchment.
1. Know your rights and review your retrenchment letter
Reading a retrenchment letter is a dreadful task. However, it is important to take your time and understand everything on a letter. Your termination benefits should according to Regulation 6 of the Employment (Termination and Lay-Off Benefits) Regulations 1980. You may clarify with your Human Resources or refer to Labour Office if you don’t understand it. If you think you have been unfairly retrenched, you may lodge a complaint with the Director General of Industrial Relations within 60 days from the date of the dismissal.
It is good if you check in with your superior or Human Resource Department to provide you with a testimonial. This will come in useful as a recommendation for future job prospects.
2. Claims benefits from EIS
EIS enforced starting from January 1, 2018. The scheme is managed by SOCSO aids Malaysians who are trying to get back on their feet after being retrenched. You can claim a percentage of your wages back for a minimum of three months and maximum six. It is the time to check on your benefits of EIS.
3. Get your CV updated and referrals in order
Update your CV, LinkedIn or any other social media page, and let recruiters know that you are seeking a new job. You could register online at job portal, eg. Crest Force is one of the good choice for you. Drop your CV to us, we are not only refers you to a potential employer and importantly, we also could guide you thru how to write an outstanding CV and branding yourself to your potential employer.
Secondly, keep your networks strong. Keep inquiring with your close networks to see if any immediate associates are hiring. People are more likely to hire someone though recommendations.
4. Re-brand yourself
You need to know in what you know then find out if what you know is still relevant and in demand for your market. If you see the gaps in your knowledge, sign up for a course or a qualification. Then align yourself to the market demands of the industry you are qualified to function within.
In the meantime, look out for side jobs, a part-time or freelance works eg. Online tutoring, delivery jobs, small online business, freelancer. It can help you release the tension of your financial and keep you busy. Who knows there is a new opportunity and turn yourself into new direction?
5. Stay Positive
Sometimes, things don’t go the way as what we expected. It won’t help if to be caught in too much negativity. We recommend you talk to your close friends and family, it can be very helpful. It will help you understand yourself better and plan for the future.
At last, stay positive and be hopeful that things would get better.