How to Handle Layoff Anxiety
A recent survey revealed that 78% of people are worried about their job security in the next recession.
And when people are anxious about their job, you can probably guess what happens to their performance. Motivation and concentration decline, while anxiety and depression rise. Even employees who survive a layoff experience a 20% decline in performance.
So what can you do to worry less about layoffs?
Get out of “survival brain”
Also known as “amygdala hijack”, the stress of a possible layoff sends you into fight or flight mode and takes over the logical, rational functions in your brain. Any chance of making a strong, wise decision or plan is virtually zero, so hold off on any decisions or actions until you’ve calmed your brain. Move your body and keep your heart rate up for at least 10-15 minutes so you can flush out some of the stress. Then you’ll be ready for some clear-headed thinking.
Draft your team
Even the mere uncertainty about your job future can make you feel like you’re on your own, so quickly pull together a support team. You already know the people in your life who are helpful in moments like these, so lean on them for wisdom, comfort, or just getting together to take your mind off things.
Gameplan
Having steps already planned can give you a sense of control, which can reduce anxiety. Actions like updating your resume, compiling a list of people in your industry you can network with, and making a contingency financial plan can reassure you and quiet some of the “What if…” thoughts about a possible job loss.
Spotlight the Voices
Take 60 seconds, close your eyes, and listen to the thoughts filling your head. What are the top two or three thoughts? Chances are, they sound like fear (“What if I go broke?”) or shame (“I’m not good enough to keep my job”). Write down those thoughts and label them (ie. fear, shame, anger). These steps help take away some of their power over you.
They may still be there, but they don’t have to run the show.
Know Your Name
A Gallup survey revealed 55% of people define themselves by their job, they “name” or identify themselves based on their job position. Think about it; when we meet new people, our job title is one of the first facts we tell people right after saying our name (“I’m Tom, and I’m an accountant”).
Building your identity on your job works…until it doesn’t.
If your job gets downsized, the thoughts in your head might try to tell you you’re a nobody, but that’s a lie. Your identity and your value aren’t tied to your job. Your significance has nothing to do with your employment.
Fill Your Brain with Truth
Fix your mind on truth and thoughts that bring you hope and motivation. Take the perspective that life happens for you, not to you. You’re not a victim, you’re an overcomer. You’re not helpless, you have power.
View whatever happens with your job as an opportunity. Ask yourself, “What does this new development make possible that wasn’t before?”
What Companies Can Do
Layoffs and the speculation about them harm businesses and organizations. Younger workers are significantly more likely to experience layoff anxiety than older workers, which means employers must equip a large percentage of their workforce to be resilient in the face of this stress.
I work with executives on leadership and management strategies, and here are a few of the suggestions I offer them regarding how to manage employees’ layoff anxiety and other organizational changes:
Proactive resilience training. Create systems and processes to help employees feel supported and empowered within a psychologically healthy workplace before potential layoffs ever hit the radar. Waiting until layoff anxiety arrives is too late.
Frequent, open communication. Share updates about the health of the organization, and allow questions about how decisions are made.
Build strength & trust. A team comprised of individuals who have inner strength, resilience, and belief in their teammates can withstand almost any storm. Offer an equal amount of opportunities for individual growth and group cohesion.
Get healthy yourself. Your organization is your mirror. It will reflect whatever, and whoever, you are. If you’re healthy, your people will move that direction, too. Any unhealthy part of you will replicate itself in your employees.
Fortify your organization with a Resilience & Trust workshop. Contact Trey for more information.