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This uncertain economy has made me worried and anxious about a potential layoff.
Elaine Varelas dives into a timely topic: Navigating Layoff Anxiety in an Uncertain Economy.
Q. A few years ago, I was laid off from my job and it had nothing to do with my performance, and everything to do with money. I was one of the highest paid employees on my team and a team leader. I recently told my boss that I don’t want a raise as I don’t want to be laid off. Am I crazy?
A. I wouldn’t label you as crazy, as right now the fear of job loss is driving people to take a wide range of actions they might not otherwise. However, I would describe you as anxious about the possibility of being laid off and worried about the fear related to job loss and the challenges you faced when you lost your previous job coming back again. The hard work and rejection of looking for a new job can cause anxiety in the calmest person.
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Has the company suggested that they’re having financial difficulties? If they’re not, what is your concern based upon? Is it what is going on in the marketplace and the economy? Recognize that it’s okay to ask your manager about how the company is doing financially, especially if you see so many other organizations who are struggling. If they say that you’re fine and safe, then don’t take yourself down this path. Deal with your anxiety with your friends, your spouse or someone else not at work.
Your manager may come back with “Yes, the company is not meeting its financial goals and they’re working hard to take a look at what other things they can do to cut costs but not people.” You can let your manager know you’ve been laid off before and hope you aren’t impacted. Let them know you’d be willing to be very flexible by working fewer hours if that is needed. You might even suggest job sharing with someone so you can both keep your jobs and hopefully your benefits to help the company. Position yourself as a very flexible person who is supportive of the financial stability and success of the organization.
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Hopefully, company leaders and managers understand the level of anxiety that potential layoffs cause in their employee population. Being able to have a conversation with your manager about the potential or even the likelihood of being laid off is more important than telling them you don’t want a raise. If an employee told me they didn’t want to raise, I would absolutely ask questions about why. I would question whether they felt they weren’t earning their compensation, whether they thought they were overpaid or if something else was driving that statement. You’re at a specific compensation level because the organization has determined that your value to the organization is equal to that.
Often, higher earning employees are laid off to make up the financial difference that an organization needs. But if your role is key to the organization, they would be hard pressed to lay you off. During periods of financial difficulty, many organizations request that senior leaders accept a pay reduction that most people are willing to take.
If you haven’t had a conversation with your manager about the potential of being laid off, I encourage you to do so. Let them know that this potential is causing you anxiety and that job security is important to you. And that if it came to it and the choice was between getting a raise and being laid off, your preference would be to keep your job. They should appreciate your being open and flexible.
Be civil. Be kind.
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