The job market’s doing the cha-cha, have you got the right moves?
The recent release of advance labour market estimates by the Ministry of Manpower (MOM) has cast a shadow of uncertainty over Singapore’s job security. In 2023, retrenchments more than doubled, escalating from 6,440 to an alarming 14,320, with the wholesale trade sector particularly hard-hit by the economic downturn.
As we step into 2024, a fresh wave of layoffs from various tech companies has emerged, impacting numerous Professionals, Managers, and Executives (PMEs) in Singapore. With the job market presenting a challenging outlook, many Singaporeans find themselves grappling with uncertainty and anxiety about their job security. Although PMEs are about as far removed from the grime of labouring toil, they too are workers, and this prompts the question:
“Would PMEs become the new blue-collared workers seeking collective union representation?”
Union Intervention
As the job market becomes more unpredictable, unions play a crucial role in safeguarding the rights of affected workers. They provide a platform for affected workers to negotiate collectively for improved terms during retrenchment exercises.
A notable example is the recent Lazada retrenchment exercise in January 2024. Initially offered two weeks’ salary for every year of service, affected workers deemed this insufficient. The Food, Drinks & Allied Workers Union (FDAWU) stepped in, actively negotiating for additional benefits. After weeks of deliberation, an amicable settlement was reached, resulting in an enhanced support package for eligible union members affected by the retrenchment.
Similarly, even in non-unionised companies like Google Singapore, NTUC also extended support to employees facing recent layoffs. This assistance included job placement and networking support. These instances demonstrated the crucial role unions play in negotiating on behalf of workers, ensuring fair treatment and ethical employment practices.
Proactive Approaches Amidst Job Market Challenges
In the face of unsettling job market trends, it is essential for workers to be informed and proactive. Having a union membership would be a proactive step for added protection in these uncertain times as it offers access to a network of support and resources. Unionised workers can also benefit from collective bargaining power, legal advice, and assistance in navigating the complexities of retrenchment.
So, if you are facing uncertainties in your employment and not yet a union member, you might want to consider signing up for it now as it gives you a comprehensive suite of benefits not just lifestyle benefits but also in the workplace. These benefits include providing workers with a collective voice, legal support, and representation during negotiations. It becomes particularly relevant in times of retrenchments when having an advocate on your side can make a significant difference in securing better benefits and fair treatment.
Sign up for NTUC Membership today!
