Upgrading skills a better safety net than redundancy insurance

Redundancy insurance may seem like a good idea, but it can create an air of nonchalance (Helping with jobs 'best way to tackle unemployment'; May 9).

Such an insurance scheme will serve as a buffer against possible financial hardships faced by workers who lose their jobs, but it provides only a short respite.

Workers who are overly reliant on redundancy insurance payouts may become blase about upgrading skills or acquiring new skills.

Workers should take advantage of the various training schemes to acquire new skills related to their current job or to other fields in which they may want to work in future.

Doing so will provide them with a much better safety net.

I have come across many middle-aged executives who are pursuing training or courses not relevant to their present jobs, as they desire to stay employable in the fast-changing corporate landscape.

Some have planned ahead to stave off future structural unemployment by working part-time in a different industry, while others are driving taxis on a freelance basis.

All these preparatory measures will stand them in good stead during uncertain times.

Jeffrey Law Lee Beng