3 Reasons Why Proper Post-Retrenchment Is Crucial

Everyone fears the big word retrenchment, simply because it’s often associated with losing your job, your main source of income and having to go through the grueling task of finding another one.

Often post-retrenchment, laid-off employees don’t really have a sense of what to do, they’re still reeling from the shock of being retrenched after all.

But with proper planning and post retrenchment execution, employers can lessen the effects of retrenchments on their employees.

But exactly why is proper post-retrenchment so important for employers to plan and execute?

GAIN MONETARY AID FROM GOVERNMENT

Employment Insurance Scheme or EIS for short is a government scheme aimed at assisting retrenched individuals financially for 6 months after their retrenchment.

This will not only give the individual a sense of security and relief after being laid off but also allow them to fully focus themselves into finding another employment without worrying about anything else.

UPSKILLING AND RESKILLING

Unknown to many, EIS doesn’t solely function to provide monthly financial aid to retrenched individuals.

Laid-off individuals also have the right to claim free upskilling and reskilling vocational training from any SOCSO appointed service provider.

OPPORTUNITY FOR JOB MATCHING

In this current economy, with Covid-19 making it difficult for many corporations to get back on their feet, it’s a struggle for retrenched individuals to get another employment.

Fortunately, also under the EIS program, SOCSO offers Re-Employment Counselling Programme.

For example, MYFutureJobs is on such site where retrenched individuals can go to, to receive job search assistance by SOCSO. But how does Job Assistance work? Well, that’s a topic for another article.

While all these benefits are aimed at assisting retrenched individuals, it is up to the employers to make sure their employees are fully aware of all the benefits that they can apply for after the disengagement.

To put it harshly, how their lives are after the retrenchment, it’s all down to you.  

 

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