Tuesday, April 21, 2020

Retrenched Because of the Pandemic? Here are the 5 Things You Need to do

It is unfortunate that we’re stuck in this pandemic phenomenon. But we are all in this together. Regardless, whether you have your employment benefit cut, salary cut or retrenched, you are not alone. The entire world workforce is experiencing a similar fate. It is not the time to blame any party, but to take a mature approach to sort out yourself as efficiently as you can.

Sort out yourself mentally

Getting retrenched can take a mental toll on anyone experiencing it. The most important thing is not to question yourself too much (Why me? Did I do something wrong? Did my boss pick my name? What will happen to me? There is no one hiring at the moment, where can I find a new job?). It is pointless to ask such questions as it will drag you down mentally.

If you need to binge-watch the entire 4 seasons of Money Heist, go ahead. If you need to eat a tub of ice cream, go ahead. Do whatever you think is best to cope with your mental health. When you have done "nursing" that initial shock, time to get up and plan your move.

Sort out yourself financially

If you have savings that can last you a few months while looking for the next job, that'll be good. Balance your savings vs. monthly expenses that you need to cover. If you can delegate some of your financial burdens, do not hesitate to ask. For example, you could get your parents to pay your phone bills or get your working spouse to cover your insurance payment. This will allow you to stretch out your savings as far as you can. It is not the time to feel shy about asking, but a time to plan your survival.

Register with PERKESO EIS

A few years ago, PERKESO introduced the Employment Insurance System (EIS) where you are financially protected in the event if you lose your job. The benefit includes:

  1. Job Search Allowance,
  2. Reduced Income Allowance,
  3. Training Fee, 
  4. Training Allowance, 
  5. Early Re-Employment Allowance, 
  6. Re-Employment Placement Program, and 
  7. Career Counselling

All you need to do is to prepare the necessary documents, submit them to PERKESO online or mail. For more information on the application, please visit the EIS portal at https://www.perkeso.gov.my/index.php/en/employment-insurance-system

Note: This is only eligible for those who contributed to the EIS and officially retrenched. If you are forced to resign, resigned by your own will, end of an employment contract or terminated due to disciplinary issues, you are not entitled to this benefit. Check your payslip to see if you are contributing to the EIS. By law, all legally employed Malaysians are required to contribute to EIS monthly. 

Prepare for job-searching

Although people say that companies are not hiring during the pandemic and there will be major economic recession post-pandemic but don't take their word in your job-searching effort. Despite the pandemic, there are still a lot of companies who need workforce because:

  • The pandemic creates demand for industries in medical, healthcare products and services, online services, etc. that never been needed before. 
  • Companies might reduce cost by eliminating expensive systems and hire manual labor instead. 
  • After lockdown, companies are picking up on their operation to maximize their profits and chase the target they need to meet. This requires more workforce. 
There is no need to be negative on the job market as there is still demand for labor. Your unemployment is not permanent. 

Don't waste any time. Brush up your resume and start your job search activity immediately. 

Read also:

Register with JobsMalaysia

JobsMalaysia is another initiative by the Malaysian government to help us in getting the right job. The portal works like any other job boards such as Jobstreet, Indeed, etc. You need to register your profile, and apply to the job advertised in the portal.

Why do we recommend JobsMalaysia?

  • You are able to call JobsMalaysia officers directly when you have questions. Just Google the phone number by your state. 
  • JobsMalaysia actively tracks the application and follow up with the employers on the success of applicants. 
  • Employers have to close the job advertised by hiring a candidate. Which means, they are more serious in screening candidates on the portal (unlike Jobstreet, some employers advertise the position with no intention to hire but merely collecting resumes). 
  • JobsMalaysia have other initiative that you can take part in such as walk-in interviews, career fair, career talk, career counselling, etc. By registering with JobsMalaysia, you will receive frequent updates on your email. 

If you have come to this article because of retrenchment, we hope all is good and you are able to find a new job soon. Most of all, we hope that you are safe and healthy. Do check out our website frequently for more info and tips on building your career. 

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