[ad_1]
Former manager Lau Disan was fine before the pandemic, but had to accept a 50 percent pay cut after switching from the devastated retail industry to early childhood education.
His experience is far from rare: Many job seekers are now willing to accept lower wages due to the tight job market and difficult economic conditions brought on by the coronavirus, experts said.
Ms. Lau, 46, was a retail manager for 15 years in the jewelry trade and earned more than $ 4,000 a month. Now, she’s a trainee child care educator at Kinderland and earns half of that.
But he said the pay cut was acceptable because he is still training under a Professional Conversion Program for preschool teachers.
“I have no prior experience in early childhood education,” he noted. “To enter the industry, I have to lower my expectations, accept that I am learning from scratch and start over.
“It benefits me to work part-time and qualify for a professional diploma at the same time. It’s a mutual benefit for employees and employers.”
She added that she also sees it as an opportunity to continue her education while having a job and feeding her family.
A Randstad Singapore poll in June and July found that more than 50 percent of respondents were willing to take lower-paying jobs.
Randstad Managing Director for Malaysia and Singapore, Jaya Dass, said: “It is clear that most companies have implemented some levels of cost reduction measures this year.
“(Therefore) those who have been laid off, or who are at greater risk of having their work environment change significantly, are voluntarily reviewing their salary expectations when looking for a new employer.”
He added that job seekers shouldn’t just focus on salary or bonuses. “As long as the compensation is fair and matches their expectations, candidates should also try to consider other benefits, such as health care and work-from-home allowances.”
Nearly 50 percent of the 373 respondents in a survey conducted by job portal FastJobs in late August also said they were open to taking positions that offer less than their last salary.
It found that 39 percent could withstand a drop of up to $ 200 a month, while 19 percent were even willing to accept a fluctuation of $ 1,000 or more.
FastJobs General Manager Lim Huishan said: “In general, people are more flexible with salaries now as they recognize that it is difficult to get a job and also that when trying out a new industry, it may be necessary to charge less than their Last (salary) since your previous experience is not so relevant.
“There are also factors like age and personal commitments that affect your willingness to accept a lower salary in exchange for flexibility.”
Data from the platform showed that the retail assistant was one of the roles with the largest salary fluctuation in the period from June to August, compared to the same period last year, with a median salary that fell 400 dollars.
Median cashier salaries dropped $ 300, while sales executives saw a $ 200 drop.
But the median salary for drivers increased by $ 100 and that of patient service associates increased by $ 200.
Adecco’s Country Manager for Singapore, Betul Genc, noted that candidates for sales and marketing positions would accept an average salary cut of 5 percent, while job applicants for administrative positions in supply chain and engineering they are open to a 10 percent cut in exchange for stability and security.
But other industries could see an increase in base wages.
Manufacturing companies, for example, had to attract local talent in the meantime to replace Malaysian workers when the border restrictions took effect.
Workers in sectors such as technology, health and life sciences, accounting and finance, and some sales and marketing functions could also expect pay increases, Ms Genc said.
ManpowerGroup Singapore Country Director Linda Teo agreed that wages have risen in sectors with growing business demands, such as pharmaceuticals, but pay for hospitality and tourism jobs has declined.
Wages in the oil and gas sector have also been affected by the decline in air travel, he noted.
Ms Teo said: “Job seekers with highly sought after niche skill sets continue to expect a higher salary, but are more willing to negotiate the percentage of increase.
“Meanwhile, candidates applying for corporate or grassroots positions are more flexible as there is more competition for those jobs.”
A spokesperson for the Institute for Human Resource Professionals noted that mid-career changers who have been through past economic downturns can expect lower wages than they received in their previous jobs.
Job seekers must remain resilient and flexible, viewing their career as a long-term investment, Ms Genc advised.
“While the salary may be slightly lower, the job will help you re-enter the workforce as quickly as possible, get you out of the crisis, and professionally there may be other learning and development opportunities within the organization.”
She added that job seekers can also prioritize the learning experience. “We would also encourage being open to opportunities, even if it is a temporary or contract position, as it helps to gain new skills and experience. The longer a job applicant remains out of work, the lower the bargaining power.” .
[ad_2]
