SPM result is not everything. However, for office type of jobs, paper qualification gives you a head start.

Just to share for non-office desk bound job.
My roommate failed his SPM, took diploma in culinary, interned at hotel as chef, then gained working experience in Miam Miam restaurant, after that 6 months worked as top Salesman in Sen Heng.

His determination combined with right networking and opportunities in the right place, he is now in SG earning comfortably.

So, it depends on the path you have chosen.