Crunch time for mature workers
Letter from James Ang
05:55 AM Jul 07, 2009
I FEEL for the many unemployed Singaporeans over the age of 40-50. Many, while unemployed, have taken up training, gone for career talks and fairs, read all the articles on resume writing and interviewing techniques, gone to see a WDA Officer at their CDC, visited e2i, adjusted their lifestyles and lowered their financial obligations – but I suspect a large number must be close to their wits’ end.
Many organisations here, especially hiring managers and HR staff, do not know how to appreciate experience and hold a negative perception of mature workers. It is no surprise that of the 16,600 chronically-unemployed people in Singapore, those above 40 form the largest group.
It is tiring to read the oft-quoted statement that many Singaporeans are choosy about their jobs. I am sure that such a group exists, but there is certainly a group of people who are turned away or rejected due to their age, no matter their qualifications.
Not many managers are equipped with the skills needed to engage and manage mature talent with substantial work experience. Some bosses might even perceive them as threat to their positions, when most are only looking to make a decent living to provide for their families.
While I applaud the Government’s efforts to address the rising unemployment rate in Singapore with practical measures, this economic slowdown is like no other. The Government’s exemplary stimulus measures and innovative efforts have so far only mitigated the ravages of this crisis, especially for older PMETs.
The chronically-unemployed are defined as those unemployed for more than six months. Many financial advisers will recommend having a savings buffer of more than six months, just in case. On this basis, many unemployed Singaporeans will likely face a financial critical point in the months ahead.
Many in this age group are parents and their families could also bear the emotional brunt of their parents’ predicament. The enormous burden on unemployed breadwinners could force some to slip into depression. If a second wave of retrenchment materialises later this year, many more mature workers will join this growing number. Forcing them into early retirement is an option that employers may be tempted to take to lower their overall costs.
The truth is, mature workers are less likely to job-hop, are more sensible in their outlook, possess a diligent attitude and contribute positively to businesses. And let’s not forget the lower CPF contribution rate.
In 20 years, one in every five Singaporeans will be 65 or older. The Government must lead by example in educating the workforce. The media could also help by painting a positive image of mature workers and the benefits of hiring this segment of the workforce, whose experience can be invaluable.
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