Employment uncertainties are creating mental havoc with employees; those in their fifties are the worst sufferers
A27-year-old laid off, went back home to prepare for UPSC to give one good shot at the examination that he always wanted to take. A 32-year-old woman tells herself she will now get more time with her toddler. A 40-year-old single man decides to get his Royal Enfield out and hits the road for a trip across the country.
Another single mother in her late thirties moves closer to her parents and takes up a job with night shifts that pays her less. A 49-year-old man, with kids in college, breaks down, as he knows his prospects of getting another job are bleak. His expenses are high. So is his BP.
While layoffs have steadily been taking place since the first wave of Covid-19 in 2020, causing immense anxiety and uncertainty among employees, the mass layoffs this year were as unexpected and much more devastating than the earlier ones. This was driven by a range of triggers, including a volatile international environment brought on by war, lack of funding, restructuring and modernisation of companies, who are also trying to cut costs to stay afloat, and an overall slow economy. And this has impacted the mental health and wellbeing of a vast number of people globally!
A survey by The7thFold had revealed that 36 per cent of Indian employees are suffering from mental health issues and 50 per cent are worried about an uncertain future due to the Covid-19 pandemic. Additionally, according to Assocham, nearly 43 per cent of employees in the private sector in India suffer from mental health issues at work. Also, up to 57 million people in India – 18 per cent of world population -- are affected by depression, thus calling for an urgent re-look at the mental health crisis.
The first step to addressing the crisis is to understand the process and the immediate impact of the trauma, for a varied set of employees.
When the news breaks, usually it’s a flood. The organization is in collective shock. The ones retained and the ones fired all feel a sense of betrayal and anger. Especially in smaller organisations and start-ups, the narrative of this being a community, aligning with the values and purpose, and the informal connections, further amplifies this sense of shock and betrayal.
Beyond the initial shock of being laid off, depending on one’s age, gender, liabilities and financial status, slowly a sense of resilience and ‘hustle quotient’ sets in.
The younger among those being laid off usually seem to bounce back and feel more hopeful after the initial shock. They focus on upskilling, switching career tracks, etc. Older ones try looking for more self-sustained or consultancy related opportunities, with the hope to leverage their experience. However, they do feel the financial strain, often having to seek support from parents, moving back to the home town often causing shame or discomfort. The disruption of life, relationships, causes stress and uncertainty. For older professionals, with more dependents, feeling hopeful may not come that easily. And for the ones already experiencing anxiety or any other mental health issue, this can worsen their condition.
People in their 30s, often with low savings and growing liabilities, are the worst hit. They have EMIs, school fees, etc., to pay. The impact of the job loss affects the whole family, the children, causing a tremendous sense of anxiety, uncertainty, guilt, desperation and frustration.
People over in their late 40s or 50s are left in despair when they are laid off. It impacts their immediate financial status, but also their retirement plans, higher education of children. Given the economic downturn and hiring trends, they are left with almost no hope to be re-employed. It can impact their wellbeing, health, sleep, and mood. People who are retained continue to operate from a state of fear and uncertainty.
Recent unicorns and well-funded start-ups have downsized, leading to distrust in the organisation and disengagement. Additionally, for some of the employees who are retained, try to find solace in the increased workflow that helps sublimate the uncertainty and fear to higher productivity. Some feel disengaged and their productivity drops over time.
Organisations can support both groups of people, laid off and people retained, by -- providing the necessary professional help and support; communicate the duration for which the help will be available, especially to people laid off; hold authentic conversations facilitated by experts to let people who have been laid off express their anger and process the change; support them with referrals, severance package, extended insurance and other possible benefits; leaders, management, to show up and own their decision; demonstrate genuine empathy; clear calendars, be approachable and willing to listen; assess the impact of the change and the risk that individuals who have been retained may have.
(The author is a psychologist & Clinical Director, Manah Wellness)
