Today’s post comes to us from Chris Mullen, Ph.D., SHRM-SCP, SPHR, executive director of The Workforce Institute.
With talks of a forthcoming recession growing louder by the week and the stock market dropping hundreds of points by the day, it’s easy to feel worried about the future of the U.S. economy.
Sure, stocks also rebound just as much and wise economists will tell you, “The stock market is not the economy,” but watching the volatility can be stressful. Add inflation concerns to the mix and it’s no wonder why many employees have economic anxiety these days.
Even more, according to a recent survey, almost 80% of employees reported fears of losing their jobs during a recession.
As a manager, it’s critical to remember that employees are people — complex human beings with thoughts, feelings, and emotions — and we must treat and respect them as such.
Caring about your employees’ feelings, especially about the economy, might seem like it’s beyond your scope of day-to-day leadership, but it’s not. Great leaders recognize that the lines of life and work often blur, and what’s going on beyond the walls of your organization can, and often will, impact your people inside the organization.
So, what can we do about easing employees’ economic anxiety? Last week, I had the privilege of chatting with my colleague Jayson Saba from UKG and we discussed that very topic. Here’s your chance to listen in on our conversation.
Replay our informative webinar, “Leveraging Technology to Help Calm Your People’s Economic Anxiety,” to learn strategies you can use right now to calm your employees’ economic anxiety, support their life-work journeys, and move your business forward.
During our chat, Jayson and I talk technology-enabled strategies to support flexible working arrangements, pay transparency and financial guidance, expanded and evolved benefits, and prioritized physical and mental wellbeing for your employees.
Check out the replay now. You can even earn credits from the Human Resources Certification Institute (HRCI) and the Society for Human Resource Management (SHRM) for watching.
Are Your Employees Feeling Economic Anxiety? Try Using Technology
