Main image of article How to Convert Layoff Anxiety Into an Asset

After a period of significant layoffs, particularly in the tech industry, it’s no wonder that about one-third to nearly half of U.S. workers report experiencing layoff anxiety.

The harsh truth is that more people are being negatively impacted by the fear of losing their jobs than what the official survey results indicated.

That’s because it is possible to suffer from layoff anxiety without consciously recognizing it, to the point of impairing your thinking or performance in a way that can be counterproductive or harmful to your job security.

For worriers, the good news is that not all stress is bad.

“Anxiety gets a bad rap,” noted Dr. Jason Hunziker, associate professor, clinical division chief, Adult Psychiatry for the Huntsman Mental Health Institute at the University of Utah.

Anxiety is a defense mechanism that warns us about things in the environment and helps us sharpen our senses and get motivated, he explained.

Instead of fighting it, recognize the signs of layoff anxiety and figure out what it is trying to tell you. Then leverage it to pay attention, focus and direct your energy toward better performance, proactive career planning and enhanced job security. Here’s how.

Summary

So how can you discern the difference between normal helpful stress that can improve performance and bad stress that wears you out, causes poor concentration and burnout?

Good stress is typically short-term, and results from situations that are manageable and within your control. For instance, being challenged by a stretch assignment that pushes you outside your comfort zone can heighten your energy levels and concentration. Bad stress on the other hand results from situations outside your control and lacks a goal or end point. Worse, excessive stress can significantly cause job performance or quality to suffer over the long term.

For instance, if you find yourself constantly rechecking and editing code or rechecking dashboards (sometimes called dashboard anxiety), if left unabated, those anxiety-fueled actions or behaviors can lead to missed deadlines or prevent you from requesting or accepting high-profile work.

One of the ways that layoff anxiety manifests itself is trouble sleeping or waking up at night explained Dr. Esther Sternberg, author of: “Well At Work: Creating Wellbeing In Any Workspace.” 

A lack of sleep has proven to cause more errors, as studies show it impairs attention and decision making which leads to burn out. It may also lower your immunity, causing you to call in sick.

If you’re so anxious that you freeze up, lose sleep or can’t function properly, then you need to take steps to shift your attention from fearful and negative to positive.

“If you find yourself in that situation, go offline for a while,” Sternberg says. Lower your stress hormones by taking a walk or spending some time in nature, because you need to be at your cognitive peak.

One of the ways to turn layoff anxiety into an asset is to “trick” your mind into believing something that you may not necessarily feel.

Focus on what you can influence, such as developing a career plan or learning new skills to make yourself more valuable at your current company and letting go of things you can't control. Shifting from reactive to proactive behavior has been proven to significantly reduce stress.

For instance, take the initiative to mentor others or serve on a cross-functional team to hone key leadership traits. Learn new tools, languages, libraries, architecture, and ways of solving problems or get a new certification. In other words, become better at your job and boost your market presence.

Note that executing just one part of this strategy is insufficient on its own. Shifting your mindset and activity simultaneously, reframes your anxiety as a journey of self-improvement and learning opportunities rather than failures or waiting for the axe to fall.

Our natural response to negative stress is to isolate or burn the midnight oil at work. Doing the opposite is a strategy to change your emotional state and behavior by acting contrary to your initial responses.

“Realize that you can’t do it alone,” Sternberg says.

Reconnect with a former mentor for instance and revisit what you discussed. It is never too late to revisit a plan, as you can use recent experiences to create a new path forward by adjusting goals, refocusing on your "why," and taking small steps.

Talk to others that have been in your position and have managed to survive and go on to new roles and companies. Facing challenges is easier when people feel supported.

Avoid doomsday scrolling, where you read posts especially on social media, which are filled with negative, distressing, or alarming information about layoffs at other companies. While it may be an attempt to gain a sense of control by staying informed, it often has the opposite effect, causing increased anxiety, fearfulness and a sense of dread.

One key lesson that we learned from the pandemic and transition to remote work is that

the expectation of working 24/7 is unsustainable and counterproductive. You need to take a break every now and then and step away.

Stepping away from a task, even for a few minutes, helps your brain recharge, reducing mental fatigue and improving concentration when you return. In fact, research on psychological detachment shows that truly disconnecting from work—even briefly— is beneficial.

Don’t hesitate to seek counseling from a mental health professional. For instance, many companies offer Employee Assistance Programs (EAPs) or mental health benefits through their insurance plans to support employee well-being.

“Anxiety is not a weakness; everyone has it,” Hunziker said. You just need to make sure that it doesn’t interfere with your work or your personal life.