Some 12,000 workers are expected to lose their jobs in Singapore this year. So far, 12,000 are on shorter workweeks. Companies are freezing wages and stopping recruitment. All signs point to an increasingly bleak economic outlook in the coming months. The fact is that, slowdown or not, companies have to keep on shedding lower-skilled staff as they restructure up the value chain to be competitive. Facing a layoff is fast becoming more and more a real prospect for many Singaporeans. In this new and unpredictable job market, job security has gone the way of the dodo. To keep your job, you need to work smart. Do whatever it takes to make sure you're crucial to your company. But also have a plan, in case somebody thinks you're not so crucial.

Here are some tips to help you avoid becoming a victim of downsizing and increase your career advancement potential.

The first rule of survival is to realise it can happen to you. It is amazing how may people just sit back and wait for the ax to fall. They didn’t see it coming and did not have time to prepare for change. Many people assume it’s never going to happen to them because of their long service and value to the company. Make sure you don’t fall into the trap of thinking it could never happen to you or you could end up being unprepared to survive economically or professionally. Remember, no matter how much your boss may like you, ultimately what matters is the bottom line.

The second rule is to keep your eyes and ears open. Be aware of what’s happening in your company. Hiring freezes, early retirements and other signs of what is called managed attrition are indications that your company is extremely serious about head count. Look for other warning signs. How are the company shares doing? Remember, while downsizing may be a bad word for workers, investors like it as it show the management is cutting costs. Also keep up with possible mergers involving your company. Look for when a merger is going to happen. When a merger happens, it is good news for the company and bad news for half the employees.

The third rule is that you should always be looking for new opportunities. Never just sit still. You are in charge of your own career. Regardless of how secure you may be in your job, you always need to be prepared to look for work in a volatile business climate. Even when you are working, you should stay abreast of the job market. Now is the perfect time to do some research. Keep reading the wanted ads in your field. Look for jobs in your field and see if the requirements listed are skills you possess. Take time to network and take on some informational interviews, if you hear of any. Make contacts with headhunters. Better still, sign up for online services that will keep you informed of new job opportunities, at no cost at all.

The fourth rule is always to keep your resume ready and fresh. Always document your work and achievements because you’ll forget how significant most of your work is. Have them both in hard and soft-copy. Many online job sites, in fact, will allow you to store, edit and forward your resume to prospective employers.

The final and golden rule-and key survival strategy in many industries-is to keep on learning and updating your skills. Lester Thurow, a well-known professor from the Massachusetts Institute of Technology (MIT), says only three things matter in the New Economy: Skills, Skills and Skills! The skills you have today may not be needed in a few years-or even a few months-so start now to learn new ones. Take advantage of your company’s training programs or the many programmes funded by government agencies. For example, in Singapore, the Ministry of Manpower has a career centre called CareerLink@MOM that can help you choose the right skills.

If the worse happens, and you do lose your job in a retrenchment exercise, one of the first things you need to do is to examine your financial situation. Look at your resources and expenses. Check your contract to make sure you get your benefits. To know more about what your rights of employment or termination are, you can write in to Work Smart, where the Singapore Human Resources Institute will answer your questions on workplace problems.

Then remember, life goes on. There are still many jobs out there, and more jobs being created everyday. Believe it or not, losing a job can actually offer an opportunity, as there is always a better one out there for you.