During this time of economy crisis, it seems like retrenchment is unavoidable. And in a recent report, headhunters were asked to identify the riskiest sectors and low risk sectors. The results are as follows:
High Risk Sectors
- Banking and finance
- Tourism and service
- Luxury and retail
- Manufacturing
Low Risk Sectors
- Accountancy
- Energy
- Health Care
- Law
- Public Sector
I have to agree with the headhunters' point of views, if you were to look at the those low risk sectors, these are basic necessities which we need them or their services.
For example, energy - there is no way that we can "survive" without the use of energy. As for health care, everyone needs to see a doctor when one is not feeling well. Public sector, we need police to be around to keep our society safe!
So chances of those people working in those low risk sectors, getting retrenched will be much lower than those people who are in the high risk sectors.
But looking at the bright side, getting retrenched may not be a bad thing after all. Let me quote you one example, recently, a client of mine who works in Manufacturing sector was given the golden handshake. He had been with this MNC for more than 25 years, but was given the retrenchment package, he was chosen for the package not because he performed badly in his work. On the contrary, he was one of the best employees in that company.
His company decided to outsource the department which he worked, so he had to be retrenched. Anyway, the amount of money he got from the retrenchment package could easily last him 2 years without a job! Oh yes, the good news is he could still keep his job despite being retrenched! Because the new outsource company will employ him. See getting retrenched may not be a bad thing.
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