In the modern world, it is becoming increasingly difficult to find consistent employment with one employer. Gone are the days when employees had the luxury of working with one employer for decades. It is common for people to hop from one company to another within a few years.
While it might seem that employees have an increased say in who they work for, the fear of losing or not getting a job still haunts working people. An employee who fears for his job is less likely to be loyal and will find a way to jump ship as soon as any other option comes along.
What is the meaning of job insecurity?
In a nutshell, job insecurity is the feeling that your employees have of losing their job for any reason, and it is the last thing you want as an employer. Employers must take proactive steps to alleviate this fear in the minds of the working class so that they can be more relaxed, focused, and productive.
When asked about what job insecurity is to them, most employees opine that it goes beyond the feeling of insecurity at work. Most employees feel like they no longer have control over their employment status, which can be devastating to deal with mentally.
It is important to evaluate what job insecurity is doing to workers. It is one of the biggest sources of stress and anxiety. With the current geopolitical scenario and the financial recession, it is becoming very difficult for employees to stay focused and productive. Adding the fear of losing their job might prove the tipping point and ruin their mental health.
Even as we are coming out of the Covid-19 pandemic and the unemployment numbers look promising, many still feel insecure at work. An insecure job threatens various aspects of an employee’s life, from loss of income to retirement benefits and healthcare.
What can you do to reduce the fear of job insecurity among your workforce?
Every organization thrives on having happy and productive employees. On average, a relaxed and comfortable employee is 31% more productive. However, it can become increasingly difficult to keep morale high and keep your employees happy in times of distress.
You need to take steps to rebuild trust in the good times. Your employees must feel that this phase of uncertainty, though difficult, will pass. Being empathetic and listening to your employees goes a long way. A manager who listens to and acknowledges the predicament of his subordinates can help instill a feeling of calm in the team. Please take steps to provide an outlet for employees to share the anxiety or stress they might have and validate their feelings by offering help and support.
It is equally important to ensure that your employees know the exact status of their employment. While it might be possible to be transparent all the time, you must keep things as open as possible regarding the chances of your employees losing their jobs.
If you truly want to ease the anxiety among your workforce, try to show that you are willing to help, even if they lose their jobs. Employees feel cared for when a leader stands by their side, and it helps them deal with the uncertain situation better. Ask them what job insecurity means to them and how you can help put their minds at ease.
Providing mental health coaching can also help many employees understand how to work on insecurities related to their employment. Employees can benefit from mental health coaching by learning how to remain confident in the face of adversity.
It might not be possible for an organization to rule out job insecurity amongst its employees. However, understanding what job insecurity is and taking the right steps to fight it can be a source of relief. As an organization, you have a chance to benefit from employees who are not in constant fear of their jobs and are willing to put all their mental and physical resources toward getting their jobs done.