Self-employed
You set up a company/store/shop/hawker, buy equipments and the necessaries, hire employees with/without contracts, reward employees with benefits for their work commitment, make profits, pay Income Tax, paying shop/store/land and building/hawker rental, and having no CPF contributions. You are also engaging in competing with other companies/stores/shops/hawkers.
Role in Economic Crisis: Your profits will be going down. You will try to save your employees' jobs. you will have to retrench some of them if profits still going down in order to cut costs, you attempts to sell some of the equipments as well. If it's still getting worse, you might even loan from the banks or earlier. and ends up bankrupted if you are unable to pay them.
Permanent/Company
You are employed by your company, either full-time or part-time, and gets many benefits:
(annual bonuses, annual leave, medical, meal*, transport*, vacations, incentives*, overtime bonus*, recognition awards (exp. Long Service Award), retrenchment benefits (those worked for 3 years), pensions, CPF contributions.)
Role in Economic Crisis: Your company is losing profits. the company tries to save jobs including yours. The company will layoff all of your temporary contracts-type colleagues first, subsequently followed by all of your job/recruitment contract ones. If the company's profits is still going down, they will try to sell their equipments and again retrench some for your unlucky colleagues especially the ones with some bad disciplinary records and also the ones with advanced ages. If the company is still in bad shape, then you and some/most of the others might be next...
Company's Contract
You are employed by your company under their contract, either full-time or part-time, get most/some of benefits:
(contract bonus, end-contract bonus, annual bonuses*, annual leave, medical, vacations*, incentives*, overtime bonus*, recognition awards, CPF contributions).
If your contract ends, you will have to leave (automatically resign from) the company, or the company will renew your if you want to continue working for them, or company will make you their permanent worker.
Role in Economic Crisis: If your company's situation is unstable, they will layoff you and other of your contract colleagues and as well as the permanent ones.
Job/Recruitment Contract
You are introduced by the Job/Recruitment agency to work for a company, either full-time or part-time, but in some case under their (Job/Recruitment agency), your job benefits (a couple of them) vary based on your working class, while your Job/Recruitment agency took the rest:
White-collar (annual leave, incentives*, vacations but with penalties (eg. no discounts, no part in lucky draws, etc)*, CPF contributions)
Blue-collar (overtime higher bonus, incentives*, vacations but with penalties (eg. no discounts, no part in lucky draws, etc)*, CPF contributions)
Role in Economic Crisis: Your job security in the company that you work for will not last long, the company will first lay off all of your temporary colleagues first, and subsequently followed by you and all of your job/recruitment contract ones while the permanent ones are unaffected until further instructions. Therefore, you are considered as one of the early victims of the Economic Crisis...
Temporary
You are employed by your company under their contract, or introduced by the Job/Recruitment agency to work for a company, but in some case under their (Job/Recruitment agency), either full-time or part-time, to work only for the specific time period given. your job benefits (a couple of them) vary based on your working class.
White-collar (incentives*, CPF contributions)
Blue-collar (overtime higher bonus*, incentives*, CPF contributions)
Role in Economic Crisis: Because of your work status, when the company intend to cut costs, you and the other Temporary contract colleagues will be the first to be layoff.
Unemployed
You are either a retrenched worker, a homemaker, a full-time student or a graduated school student, currently looking for or not looking for jobs.
Role in Economic Crisis: As above.
Retired
You are retired from the company with pensions.
Or you have retire yourself if you are a company owner, and your company is taken over by another person (eg. your children).
Role in Economic Crisis: Does not apply.
You set up a company/store/shop/hawker, buy equipments and the necessaries, hire employees with/without contracts, reward employees with benefits for their work commitment, make profits, pay Income Tax, paying shop/store/land and building/hawker rental, and having no CPF contributions. You are also engaging in competing with other companies/stores/shops/hawkers.
Role in Economic Crisis: Your profits will be going down. You will try to save your employees' jobs. you will have to retrench some of them if profits still going down in order to cut costs, you attempts to sell some of the equipments as well. If it's still getting worse, you might even loan from the banks or earlier. and ends up bankrupted if you are unable to pay them.
Permanent/Company
You are employed by your company, either full-time or part-time, and gets many benefits:
(annual bonuses, annual leave, medical, meal*, transport*, vacations, incentives*, overtime bonus*, recognition awards (exp. Long Service Award), retrenchment benefits (those worked for 3 years), pensions, CPF contributions.)
Role in Economic Crisis: Your company is losing profits. the company tries to save jobs including yours. The company will layoff all of your temporary contracts-type colleagues first, subsequently followed by all of your job/recruitment contract ones. If the company's profits is still going down, they will try to sell their equipments and again retrench some for your unlucky colleagues especially the ones with some bad disciplinary records and also the ones with advanced ages. If the company is still in bad shape, then you and some/most of the others might be next...
Company's Contract
You are employed by your company under their contract, either full-time or part-time, get most/some of benefits:
(contract bonus, end-contract bonus, annual bonuses*, annual leave, medical, vacations*, incentives*, overtime bonus*, recognition awards, CPF contributions).
If your contract ends, you will have to leave (automatically resign from) the company, or the company will renew your if you want to continue working for them, or company will make you their permanent worker.
Role in Economic Crisis: If your company's situation is unstable, they will layoff you and other of your contract colleagues and as well as the permanent ones.
Job/Recruitment Contract
You are introduced by the Job/Recruitment agency to work for a company, either full-time or part-time, but in some case under their (Job/Recruitment agency), your job benefits (a couple of them) vary based on your working class, while your Job/Recruitment agency took the rest:
White-collar (annual leave, incentives*, vacations but with penalties (eg. no discounts, no part in lucky draws, etc)*, CPF contributions)
Blue-collar (overtime higher bonus, incentives*, vacations but with penalties (eg. no discounts, no part in lucky draws, etc)*, CPF contributions)
Role in Economic Crisis: Your job security in the company that you work for will not last long, the company will first lay off all of your temporary colleagues first, and subsequently followed by you and all of your job/recruitment contract ones while the permanent ones are unaffected until further instructions. Therefore, you are considered as one of the early victims of the Economic Crisis...
Temporary
You are employed by your company under their contract, or introduced by the Job/Recruitment agency to work for a company, but in some case under their (Job/Recruitment agency), either full-time or part-time, to work only for the specific time period given. your job benefits (a couple of them) vary based on your working class.
White-collar (incentives*, CPF contributions)
Blue-collar (overtime higher bonus*, incentives*, CPF contributions)
Role in Economic Crisis: Because of your work status, when the company intend to cut costs, you and the other Temporary contract colleagues will be the first to be layoff.
Unemployed
You are either a retrenched worker, a homemaker, a full-time student or a graduated school student, currently looking for or not looking for jobs.
Role in Economic Crisis: As above.
Retired
You are retired from the company with pensions.
Or you have retire yourself if you are a company owner, and your company is taken over by another person (eg. your children).
Role in Economic Crisis: Does not apply.
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