New research from Glassdoor published by HR Grapevine found that over half (53%) of employees are afraid of losing their jobs in the near future due to Covid-19. According to the research, 56% would rather take a lower salary, 68% would rather forgo a pay rise, and 71% would rather skip a bonus compared to losing their job.
Based on Psynet Group research data, the following are things that people do when they fear that their jobs are at risk:
- They begin passively looking for a job. This means that they regularly check and update their LinkedIn, follow job boards, put “feelers” out to other people for available opportunities, etc.
- They take less calculated risks at work. They don’t try new things or take on stretch assignments when asked to do so by leadership.
- They lose time monitoring verbal and nonverbal signals from their bosses and others in their workplace.
- They interpret every communication through the lens of job security, which adversely impacts communication overall.
What can leaders do about it?
- Name the ghost. Address the topic individually and in groups throughout the organization.
- If you are letting people go, do it all at once and announce when the process is complete.
- Give clear markers for when and why you would reduce staff, both presently and in the future.