Career Reinvention: Job Loss Spurs Entrepreneurial Ventures
Unexpected Turns Lead to New Paths for Singaporean Professionals
Facing job market challenges, some Singaporeans are turning to entrepreneurship and reskilling to redefine their careers. Redundancy and frustrating job searches have prompted individuals to seek fulfillment by starting their own businesses or pivoting to entirely new industries.
From Marketing to Consultancy
After a demoralizing job search following a 2018 layoff from a marketing agency, Joe Herman, in his 40s, decided to forge his own path. Submitting around 50 applications without success, Herman realized his non-linear career path was a disadvantage.
“Honestly, I got tired of trying to be someone else just to land a job. I kept thinking – why not build something around who I am and what I’m good at?”
he said.
This realization led to launching a training and communications consultancy in June 2018. While initial cold pitches were tough, Herman found success by actively listening to clients’ needs. Now, Mr. Herman balances his business with family life, viewing it as a new concept of career success.
“I could work with people I genuinely liked, focus on projects I cared about and still be there for my kids. It wasn’t easy, but it felt right.”
Unexpected Entrepreneurial Leap
The opportunity to launch his own business unexpectedly came to Jarieul Wong, 41, after being retrenched from his position as head of communications at an e-commerce firm in December 2022. Months of job hunting followed with financial worries, especially concerning his mother’s medical needs.
Facing pressure to find a “proper job,”
Wong, who is unmarried, had to confront the issue of pay cuts due to his previously high salary. “In some interviews, the main question was, ‘How much of a pay cut are you willing to take’?”
he recalled.
His break came when a Malaysian public relations agency, where he previously worked, offered him the opportunity to lead its new Singapore office. In September 2023, he launched the Singapore branch of IN.Deed Communications.
Despite initial challenges, including forgoing a salary for most of the year and running the business solo, Wong finds job satisfaction in his decision. “I get to work from home, care for my ageing dog and pitch for clients I believe in.”
Reskilling for Relevance
Other job seekers have discovered renewed purpose in different fields after periods of reflection. For Mohamed Yatim Abdul Ghani, 54, transitioning from head of IT at an international school to adjunct lecturer and digital transformation consultant took considerable effort and upskilling in emerging fields.
Following his retrenchment in 2018, the emotional and financial impact was significant, particularly with the loss of tuition benefits for his children. To manage, he worked as a private-hire car driver for almost two years.
As job applications went unanswered, Yatim noticed that most technology roles required skills in artificial intelligence (AI), data analytics, and Internet of Things (IoT). “My experience looked dated. I realised I had to reskill.”
Yatim enrolled in a postgraduate certificate program in data engineering and smart factory in July 2021. A chance encounter at a job fair led to a consulting opportunity and later, a role as an associate senior consultant.
Adapting to Changing Job Market
According to a recent report, career transitions are increasingly common, with nearly 40% of workers considering a career change (LinkedIn 2024). The experiences of Herman, Wong, and Yatim highlight the growing need for adaptability and continuous learning in today’s rapidly evolving job market.