Facing the possibility of a layoff, or dealing with one, can be a challenging and emotionally taxing experience. However, there are steps you can take to emotionally prepare yourself and minimize the impact of this event on your mental and emotional well-being.
Research has long shown layoffs have a detrimental effect on individuals and on corporate performance. Harvard BizReview 12-22. “What Companies Still Get Wrong About Layoffs” (hbr.org)
Layoffs, which began in mid-2022, have continued until there has become a steady stream of announcements in 2023. This includes the following planned layoffs and those currently in process:
* Wall Street Journal -1250 employees
* Yahoo – more than half the ‘Yahoo for biz division’ – 1600
* GitHub – owned by MSN – 10% – approximately 300 workers
* Disney – 7K
* The Google Alphabet (parent company) – plans to eliminate 12K in 2023
* Amazon is organizing a layoff of 18k.
* IBM announced it intended to layoff approximately 3900 from it’s Kyndryl
holdings.
* Microsoft intends to lay off 10K.
Layoffs have always been an emotionally challenging situation for everyone – both those laid off and those who remain, not to mention the company itself. The affected employees may feel a range of emotions such as shock, anger, sadness, as well as fear about their future. Meanwhile, the remaining employees may feel guilty or anxious about their job security or may, psychologists say, experience survivor’s guilt.
Almost all who work experience a layoff, now and then, which presents some upheaval in their lives. Layoffs can, in fact, present anything from little worry over financial situations to significant negative financial consequences for affected employees who may have been living financially close to the edge; especially if they have no savings or backup plan. Furthermore, companies can find it cost prohibitive to hand out severance packages, as well as to recruit, train, and onboard new employees.
It can’t be overlooked – the negative impact on morale and productivity a potential or full blown layoff can also have on the remaining employees. It’s natural for them to feel demotivated or disengaged from their work as a result. It can also be challenging for managers to keep their team motivated and focused during a time of uncertainty and change. Those still working may have lost a coworker who had become a best friend and/or confidant; a lunch pal; work helpmate; someone they regularly played golf and socialized with outside the office. Not to mention their ride to work.
Furthermore, layoffs are difficult because they can have a range of emotional, financial, and practical implications for everyone involved.
During this time – it’s important to remember ‘YOU ARE NOT YOUR JOB’
Much has been written about self-identifying with a job. What it boils down to is the job becomes part of our identity since it’s something most spend the majority of our lives performing. It can shape our values and beliefs, provide us with purpose and structure, help us build relationships with colleagues. It can also provide us with a sense of accomplishment.
Although all of these things are true – the question remains – how do you disengage from the job once laid off? Why can’t you stop feeling emotionally out of sorts – if not depressed – when laid off? Psychologists tell us facing the possibility of a layoff, or living through one, can be an emotionally and financially taxing experience for a variety of reasons.
You’ve not only lost your job and the salary which comes with it – a two-fold loss – but are now cut off from co-workers you not only worked but no doubt socialized with.
You’ve likely developed relationships with their friends and families. The two of you, as well as others, may have lunched, had drinks, and headed off to sporting events as a group on a regular basis. As friends, you’ve likely shared your life and experiences with each other; consoled each other during difficult times; cheered each other on during good times. Perhaps become a backup for each other.
While you may continue to connect, for a brief time after the layoff, it usually won’t take long before many of those relationships begin fading, those friends drifting away. Lack of connection, to these individuals, then becomes another personal loss brought about by the layoff.
It’s important to remember, however, your job is not your entire identity – your worth as a person does not depend – solely – on your employment status.
Not to mention we can all learn to live without ‘extras’ we’ve come to include in our lives like Starbucks Frappuccino, for example.
Here are 7 tips to help guide you through this unique time:
1) It’s natural to feel a range of emotions, such as anxiety, fear, anger and sadness, when facing a layoff or living through one. It’s essential to recognize and acknowledge layoff-related feelings rather than suppressing them psychologists tell us.
2) Reach out to your support system. Talk to family, friends, network connections – a therapist, friends at church if necessary. They can provide emotional support and help you work through your feelings.
3) Focus on what you can control. While a layoff may be outside of your control, focus on things you can control – such as updating your resume, networking, searching for new job opportunities or volunteer activities.
4) Create a financial plan. Losing a job can be stressful but having a financial plan in place can help reduce some of that stress. Create a budget, cut back on unnecessary expenses; consider seeking financial advice if necessary.
5) Take care of yourself; prioritizing your physical and mental health. Exercise regularly, eat healthy foods, get enough sleep, and engage in activities that bring you joy. On occasion – have lunch with old co-workers and friends being careful to share some good rather than ruminating over all the bad that you believe has erupted from the layoff. Talk about your job plans, resume revamping, starting a business, and new volunteer activities you’ll be undertaking, for example.
6) Consider upgrading your skills and/or working on certifications. All of which can help you get hired for a job you want. Consider returning to college, starting business school or taking online classes, for example.
7) Stay positive. While it’s natural to feel down about a layoff, try to maintain a positive attitude. Be optimistic about better things coming your way and focus on the opportunities which may arise from this experience.
“Don’t be afraid of change – you may end up losing something good however it’s highly likely you will end up gaining something better.” Quotemaster.org
Remember:
You are not alone; many have faced a layoff at some point in their career. It doesn’t define you as a person.
While losing a job can be a difficult experience, it can also be an opportunity to explore new avenues and potentially find a job that better aligns with your values and interests, plus upgrade your skills and/or education.
Having said that, if you are on the hunt for a dynamic and rewarding career opportunity, consider exploring online. Companies like Primerica offer a vibrant work environment where productivity meets enjoyment. Many reviewers highlight their supportive culture, professional development opportunities, and emphasis on personal growth. Whether you’re seeking a fulfilling career in finance or looking to advance your skills in sales and entrepreneurship, they could be the ideal fit for you. By checking out these Primerica Reviews, you can gain valuable insights into the company’s culture, values, and career advancement opportunities, helping you make an informed decision about joining a fun and productive team dedicated to helping others achieve financial success.
With time, patience, and perseverance, you can overcome this challenge and emerge stronger on the other side.
