In this difficult time of economic uncertainty and a wave of layoffs across various industries, job security has been a big concern on the mental well-being of the professionals. The fear of losing a job has become an inescapable issue, with a recent MyPerfectResume survey reporting that a staggering 85% of Americans are concerned about potential employment loss in 2024.

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Mohamed Hassan / Pixabay

The psychological effect of this anxiety is profound, according to Christopher Hansen, a licensed professional counselor with Thriveworks in San Antonio, Texas. He explains that the apprehension experienced by those who survive mass layoffs can be almost as draining as that felt by those who lose their jobs. The deep-rooted uncertainty, the constant worry about being the next on the chopping block, generates recurrent angst and anxiety.

To tackle the spiraling negative thoughts associated with job loss, Hansen suggests a straightforward yet effective strategy: write them down. By documenting where and when these anxious feelings arise, individuals can identify triggers and underlying beliefs about the situation.

For instance, someone might write, "After a meeting where 10% of our staff got laid off, I worry about losing my job and affording rent." The next step is to replace each negative thought with a positive, realistic affirmation, such as, "Just because my co-workers were let go doesn't mean I'll lose my job tomorrow." Focusing on the present helps ground individuals and restores a sense of control.

Recruiters and HR experts advise practical steps to prepare for potential layoffs, such as updating resumes, setting up job alerts, and seeking advice from mentors. Beyond professional preparations, maintaining a balance in life by focusing on hobbies, relationships, and personal interests can serve as a powerful antidote to layoff anxiety.

The landscape of job insecurity is further intensified by the ongoing phenomenon known as The Great Resignation, which has now transitioned into The Great Apprehension. More than half of U.S. companies are actively reducing headcounts or planning to do so in the coming months. Major players in the tech sector, Alphabet, Meta, and Microsoft slashed 23,670 jobs in January alone.

Recent studies indicate that job insecurity can negatively affect concentration, motivation, and mental health, potentially building up anxiety and depression. Additionally, this layoff anxiety can become a self-fulfilling prophecy, as the fear and stress may instigate individuals to retreat or overwork, making them more vulnerable to cuts.

Dealing with layoff anxiety proactively is crucial, and here are some strategies to navigate this challenging landscape:

  • Monitor your inner dialogue and question assumptions. Not every slow email response or meeting exclusion indicates impending layoffs. Mindful breathing can help alleviate racing thoughts.
  • If signs of a layoff are evident, gather information and assess your situation. Engage with your boss about high-value projects and seek ways to demonstrate your worth. Simultaneously, re-engage your network, update your professional profiles, and be prepared for any change.
  • Take your fear to the extreme by envisioning the worst-case scenario and planning accordingly. This exercise, known as defensive pessimism, helps create a perception of control in uncertain situations.
  • Reflect on past challenges and recognize your ability to overcome adversity. Studies show that recalling growth through life's challenges enhances psychological well-being.
  • Diversify your sense of self by investing in various aspects of your life, beyond your job. This self-complexity approach enhances resilience and prevents a singular identity from being overly affected by work-related challenges.

As the job market continues to change, retaining a resilient mindset can potentially become an invaluable asset, enabling individuals to navigate uncertainty with confidence and maintain mental well-being amidst the ebb and flow of the professional turbulence.

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