“The only thing we have to fear is fear itself.” – Franklin D. Roosevelt
Whether you agree with his political views or not, Franklin D. Roosevelt hit on something profound in his first inaugural address.
Speaking to a nation plagued by economic woes, Roosevelt emphasized that the fear of disaster was far more deadly than the disaster itself.
The concept is not new. In chess, there is a saying: “The threat is stronger than its execution.”
And today, as the economy sputters in fits and starts, we should all stop and consider this truth: the one thing worse than being unemployed is living with the fear of unemployment.
The Price of Job Fear
Fear isn’t just an abstract concept for philosophers to expound on. Fear has real, measurable, tangible effects. And if you’re constantly worrying about losing your job, it could be costing you more than you think.
According to a study published in Social Science and Medicine, fear of unemployment is much worse than actual unemployment in terms of long-term health problems. In fact, the study found that job fear was a better predictor of poor health than both smoking and hypertension.
How to Overcome Job Fear
Overcoming fear is all about your mindset. By using the following tips, you can start training yourself to move past your job fear.
- Identify the roots of job fear. What concrete factors make you think your job is in jeopardy? Grab pen and paper and write them down. Be specific. For example: “I think my job is in jeopardy because my employer just announced another round of layoffs.”
- Weed out the false roots. Fear is irrational. More often than not, fear is based on hype and a herd mentality. Take a minute to read back over the “roots” you’ve written down. How many of them are actually worth worrying about? How many are just things that go bump in the office?
- Evaluate your safety net. When you’re teetering on the edge of a cliff, it’s easy to forget about the safety net beneath you. So take a deep breath and examine your safety net. If the worst were to happen, and you were to lose your job today, would it be as bad as it seems? Would you get a nice severance package? Do you already have passive streams of income? Do you own valuable assets or have a hefty nest egg? Find the bright spots in your future and focus on them instead of the fear.
- Reinforce your safety net. Two of the antidotes to fear are action and preparation. Start doing both by reinforcing your existing safety net. If you don’t have a safety net, now’s the time to start weaving one. Commit to saving money instead of spending it. Consider making some solid investments. Find ways to generate “side money.” As you occupy yourself with action, you’ll have much less time to sit and worry.
- Reframe the worst-case scenario. Stop thinking of job loss as the end of the world. It’s not. In fact, many of today’s most successful entrepreneurs got their start because they lost their day jobs. You can turn unemployment into a blessing in disguise – if you have the right mindset. So refuse to be discouraged or depressed. Think of unemployment as freedom – the freedom to pursue your dreams without feeling guilty. Think of unemployment as an opportunity – an opportunity to make something new and better of yourself – and even find real job security.
What Can You Add?
How do you deal with job fear and economic uncertainty? How do you keep yourself inspired, motivated, and confident even when storm clouds loom on the horizon? How can you turn unemployment into a great opportunity?
Share your phenomenal secrets below!
16 Comments on “The One Thing Worse than Getting Fired”
says:
Jeffrey – Timely and spot on. I think many people are so caught up in the fear that they do not look at the details of their situation.
What would “actually” happen to me if I lost my job? And what could I do now to alleviate those issues.
But, this is a real issue. I just observed a case where fear affected a group's ability to deal with a tough situation at their company. It directly impacted their ability to solve an issue that should have been #1 on their priority list. Instead, it went unaddressed for many months due to employees' fear.
says:
One thing that I try to do is keep not only money saved up to take care of needs in a pinch, but about three months worth of food. It becomes one less thing to worry about, and gives additional breathing room, above and beyond just saving money.
says:
Hey Jeffrey – great post and big topic. I find it most important to be clear about the worst that can happen and then focus not on being hit by unemployment (or in my case having no customers) but focusing on what you can do to improve the service.
The people that focus on securing their jobs and keeping the status quo are the ones who do get wiped out.
The people who are focusing on constantly improving their skills and services and are asking themselves empowering questions are the ones who will either grow in their businesses or (if the business crashes) will find ways to get into another niche where they can with their focus on service grow exponentially.
says:
Exactly! If we simply take the time to examine the causes of our fear, it often turns out that there wasn't that much to be worried about in the first place. It's even worse when fear happens in a group – like an office. Or a company. Or even an entire economy.
says:
This may be a little off-topic, but I'm constantly amazed at how cheap food can be if you stay away from the “super premium” stuff and just buy the basics. It really doesn't take -that- much money to accumulate quite a stockpile of wholesome food. And, as you point out, it's another way you can give yourself some “breathing room.”
says:
This may be a little off-topic, but I'm constantly amazed at how cheap food can be if you stay away from the “super premium” stuff and just buy the basics. It really doesn't take -that- much money to accumulate quite a stockpile of wholesome food. And, as you point out, it's another way you can give yourself some “breathing room.”
says:
I completely agree, Patrick. It's ironic, though, isn't it? The people who allow their fear to consume them and hunker down in the status quo wind up losing out … but the people who overcome that fear, put it in perspective, and then respond boldly wind up better off than before.
says:
Interesting post and topic. I look at the fear of unemployment as another reminder of the importance of ensuring we have the right perspective on possible challenges in life. To me, it is no different than any other fear that could arise in life if we choose to focus on fear and allow it to play a dominant role in our thoughts…things can really begin to spin out of control. It seems that getting control of fear is a two step process (1) Making the right decisions in life and, as you suggested, creating safety nets that can provide the additional assurance that everything really will be okay; (2) Choosing to control my thoughts and develop the right perspective on situations. Understanding that I have done what I needed to do and that everything will work out the way it is supposed to. Of course, step #2 is sometimes the most challenging, but it is a strengthening of character every time we successfully work through fear. Ironically enough, the fear of unemployment provides us with this opportunity. Thanks for the interesting topic.
says:
I like you advice here regarding safety nets. Oftentimes most people focus on the problem that they forget to seek solutions. It will indeed be beneficial to eliminate the fallacies of fear that bring anxieties in the different aspects of our life. :-)
says:
You don't even have to skimp on premium quality food if you are willing to learn a little about cooking. I may eat inexpensively, but I can still make a lot of my favorite foods with things that store well. The fact is that if I went to a restaraunt to eat the things I teach myself how to cook than I would spend triple my money for the same amount of food. Just learning how to cook and eating out less can save a ton of money!
says:
The great thing about safety nets is that most of us have been setting them up all our lives without even realizing it. Health insurance is a safety net. A decently-sized saving account is a safety net. Friends and family are safety nets. When we really stop and look at all the safety nets we have in place, it's a lot easier to face our fears head on. That's not to say that taking risks isn't important – it is. But it's also important to realize that failure isn't the end of the road, and you have resources to fall back on.
Thanks for stopping by!
says:
Step #2 is definitely the most challenging … which of course makes it the most important :) Overcoming fear is all about having a strong, persistent, confident mindset; once you have that, everything else is just a matter of technique.
says:
100% agreed. Eating out gets expensive very quickly. I personally am quite a terrible cook, but I can make do with the basics :)
says:
Strong faith and a belief that even things things that seem awful, can turn out to be the best things that have ever happened to you. That's what keeps the fear away in times like these. After my most recent layoff, I decided that braving the world as a freelancer was a far greater thing than going back to work for another bad boss. Friends and family keep me motivated and sane, and the freedom of charting my own destiny keeps me moving.
says:
It's always good to hear stories of inspired people like you! “Braving the world” is a very good way to put it … it takes courage to step away from the familiar confines of a so-called “real job” and carve your own path.
I also agree that staying in motion is very important. Stagnation is one of the deadliest pitfalls for any entrepreneur, and it's admirable that you understand that. Best of luck to you in your independent career! If I can ever be of help to you, don't hesitate to ask.