6 ways to overcome layoff anxiety

Credit to Author: Murali Murthy| Date: Wed, 27 Mar 2024 16:45:30 +0000

Just when we thought that the Covid pandemic had made an inglorious exit, came news of other developments. In particular, the emergence of AI, ChatGPT and other factors that directly impact businesses today. As many organizations adjust to these tectonic shifts in the marketplace, they could be actively looking to reduce their headcount or plan to in the coming months.

What’s more, with recession concerns looming large, a large number of workers are scared about their jobs. Today ‘layoff anxiety’ is real. The apprehension about workplace layoffs is palpable among employees across many industries. A constant concern about losing one’s livelihood can not only discourage the best of employees but also significantly impact his or her well-being. Often this leads to mental health issues, reflected by anxiety, stress and depression.

An article in the The Globe and Mail found that layoffs hit harder when employees feel highly involved and personally invested in an organization, than in traditional workplaces, and this can cause low morale and productivity.

What’s more. an article in the Harvard Business Review found that remote employees were 32% more likely to feel anxious in the wake of news about layoffs. And 67% said this anxiety had an impact on their productivity.

Here are six ways to proactively confront your layoff anxiety and keep the fears from getting the better of you.

1.Monitor your self-talk

It’s important to be mindful of your mind chatter. Start by separating fiction from fact. The stories we tell ourselves may not always reflect reality, so it’s very important to monitor the inner dialogue that goes on.

The good news is that we can work through our emotions, ensure that we maintain balance and forge ahead. Let’s remember that changes in our job status may not always be in our control. Especially an economic downturn is a result of the evolving market conditions and so, a job loss is not necessarily a comment on your skills or worthiness.

The last thing you want to do is to make a self-fulfilling prophecy of your predicament. More importantly, this is not the time to withdraw your efforts or retreat from your efforts. On the contrary, ramp up your work ethic and focus on the positive. This can help you stay grounded and more in control.

2. Be proactive, take action

If you are receiving some signals about an impending layoff, get to work immediately. Assess your situation and gather relevant information. This includes listing if you are handling high-value projects, does the work you do generate constant revenue and if you are being assigned to projects of higher importance within the organization. If not, take to your peers or superiors to modify your workload. This is the time to invest in and nurture relationships and stay alert about any restructuring within the company.

Take every opportunity to take initiative, prioritize company goals and exercise self-control. These are the very skills employers look for.

3. Double up on expanding your network

Don’t procrastinate, the best way to conquer fear is through positive action. Start by re-engaging with your network. Reconnect with old colleagues and managers. Join an industry group or trade association.

Focus on supportive and healthy relationships. While going through anxiety can be challenging you don’t have to do it alone. You have some time to reconnect with those who mean the most to you. You’ll feel calmer about possible change if you have supportive people in your corner. Staying socially connected also helps you keep a positive state of mind.

4. Be resilient

It is too easy and tempting to end up blaming yourself for everything. and shame. Remember, you may not be able to control external circumstances of any other person’s decision. But you can definitely control your outlook on your future. Always maintain a hopeful outlook, believe that you are strong enough to bounce back from any layoff and you will always be in control.

Reflect on how you’ve risen above similar adversities in the past. Think of the strengths that helped you to pull through and the new doors that opened after. This will help you grow through life’s challenges and strengthen your psychological well-being.

5. Leverage your transferable skills

Alleviate negative feelings by ramping up your professional networking. It’s understandable that layoff anxiety can cause sudden disruption in daily life, coupled with fears of financial uncertainties and unnecessary stress.

Research your industry to find out what are the in-demand technical skills. And volunteer to help with projects on other teams where you can add maximum value. You can divert your nervous energy and boost your self-esteem by staying proactive with your professional development.

Also, make sure that your social media account and profiles are updated. Each day, set aside a few hours to make sure your resume, portfolio, and LinkedIn profile are up-to-date. This ensures that your Plan B is always in place God forbid if something were to happen to your career.

6. Plan for the future

What would happen if you were to be laid of tomorrow? It doesn’t hurt to be prepared for the future if something unforeseen were to happen. Prepare and plan your next steps in deal. This includes your preparation to deal with issues such as your finances, health care, and of course finding a new job.

The six simple steps laid out above can help you deal with your layoff anxiety in your personal and professional life. Studies have shown that emotionally preparing yourself for worst-case layoff scenarios can help you manage your well-being and overcome your anxiety.

Now could be a great time to assess your career path. Take the first step by researching your field to find out the key skills employers look for and the skills that are relevant to your industry and the organization that you wish to work for. And in summary, remind yourself that “layoff anxiety” is just a temporary state of mind. You are stronger and bigger than any anxiety that life throws at you.

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