Career switch in the midst of this pandemic has got to be one of the craziest ideas anyone can have now. After all, the confirmed cases of COVID 19 infections has exceeded 28 million globally at the time of this writing, economists generally hold a grey view of the economy ahead.
Heavy job losses and retrenchment levels beyond previous economic contractions in Singapore are on the forecast. For the economy to return to normalcy will probably take months, if not years. Therefore, it is almost common sense to hang on tight to your rice bowl and not move on to something else.
Yet, what if you have to? Some people do so for various reasons.
It could be because:
- They were overworked
- They were not able to fit into the work culture
- Chances for progression are low
- There is a lack of work-life balance
- A better job is available
So if you’re one of those looking to move on, be assured to know that you’re not alone, and you’re definitely not out of your mind.
First of all, ask yourself some questions:
– Are you planning to embark on a new job or make your first foray into a new sector?
– Are you looking to start a new business or going for a sabbatical for recuperation?
Once you’ve got these ironed out, we’re ready for step 2: think about your next steps before tendering your resignation.
Why this is so important that it deserves bold lettering is because if you’re not sure about where to go next but would like to take a break from work, it will be wise to work out an annual budget. This will include expenses such as a mortgage, insurance, grocery, personal expenses, and so on.
If you realize that you do not have enough savings to sustain your expenditure for at least 6 months, yet staying on is not an option, you can explore career transition with Professional Conversion Program or upskill via SG United Skills (SGUS).
Job searching or career switch can be arduous so apart from being patient with yourself, you can also approach a career coach to journey along with you, to help you gain clarity of what you want in life and move towards your goals.
The storm may have arrived but it will not last forever.
For a budgeting template, please download below.