What Happens When the Unexpected Strikes?

Imagine being laid off suddenly—how would you react? For 30-year-old Uzen Tan, the solution involved becoming a Grab driver, sporting a sign that bluntly states, "I got retrenched!" He views each passenger as a potential networking opportunity.

Tan, a former marketing professional at Google, has submitted over 300 job applications since losing his job in April. Though he’s yet to find a match, his placard has led to more than 20 passengers scanning a QR code to view his résumé, many even engaging him with helpful tips. Documenting this unique journey on TikTok has also provided an outlet amid his struggles.

The Shockwaves of Economic Uncertainty

Despite having one of the lowest unemployment rates in the world at 2 percent as of 2024, Singaporean workers are feeling the pinch of economic unrest and tech industry layoffs. Data shows that long-term unemployment has crept up to 0.9 percent, with the highest impact being felt by those under 30. Recent surveys reveal concerning statistics—12.9 percent of university graduates are jobless, while 25.2 percent from private institutions report the same.

The current job market is equally daunting for those still employed; a survey shows 34 percent of workers fear job loss within three months, and 35 percent feel insecure about the longevity of their current roles.

5 Hacks to Navigate the Job Market

As job seekers grapple with these realities, experts recommend a strategy to better weather the storm. Here are five essential tips to help individuals navigate this challenging period.

1. Understand the AI-Driven Bottleneck

Kyson Xu, 35, knows the pain of redundancy, having faced layoffs three times since 2015. His latest experience involved sending out 329 applications and enduring multiple rejections. "It felt like grasping sand while it slipped away," he laments. Xu's experience is not unique; a recent LinkedIn survey revealed that half of job seekers reported a harder application process, largely due to increased competition. With fewer roles available and more applicants per position, job seekers must be savvy in their approach.

2. Quality Over Quantity in Networking

Many job seekers make the common mistake of treating their job search like a numbers game. James Ching, 47, emphasizes the importance of leveraging one's network. A tailored, multi-channel approach to job hunting that includes targeted networking can provide better results than indiscriminate applications.

3. Set Timelines and Be Realistic

The anxiety of dwindling finances can be overwhelming. Experts suggest setting realistic timelines for the job search—entry-level roles may take weeks, while senior positions could take months. It’s wise to reassess your situation after a few months and potentially consider temporary work.

4. Don’t Suffer in Silence

The emotional toll of facing silence or rejection during job applications can be heavy. Ching found solace in forming a support group with fellow job seekers, sharing experiences, and offering moral support. Engaging in activities that enrich your mental health is equally vital.

5. Don’t Let Fear Control Your Decisions

For some, unemployment can be a time for self-discovery and entrepreneurship. Lishan Lim took time off to travel and refine her passions, ultimately leading her to start her own wellness business instead of accepting unwelcome job offers.

As the landscape shifts, job seekers must embrace innovation, resilience, and creativity to weather the storm of unemployment. Transforming fear into opportunity can pave the way for new paths and renewed success.