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Involuntary job loss is traumatic and painful, with its impact coursing through our emotional, social, professional, and financial
lives.
There are two dominant coping strategies that individuals resort to when coping with the shock.
Problem-focused coping strategies work to remove or fix the source of the discomfort.
Emotion-focused coping strategies work to avoid, transform, or dull emotional pain.
Both strategies are useful to some extent, but different circumstances call for different strategies to bring about the best
outcome. For example, if a thorn in your foot is causing pain, a problem-focused strategy (removing the thorn) would be the
best course of action. If the pain is from stitches, the best approach is to avoid, dull, or ignore it while you heal.
Emotion-focused coping includes distancing yourself psychologically from the source of discomfort, minimizing or discounting
the pain or its source, distracting attention away from the pain or its source, and positive reappraisal of the situation. Investors
often must use emotion-focused strategies to dull, distance, or ignore the discomfort of market volatility and investment losses.
In these instances, an emotion-focused strategy can be the adaptive, optimal response because ill-timed action can lead to
costly mistakes.
Here's how to ride the storm:
BUILD self-esteem.
A positive view of the self is an important psychological resource at any time, and it is critical when we face challenges.
Unfortunately, being let go by an employer can severely damage people’s self-esteem, especially if their job plays a large role in
their sense of identity or if they suspect their own failings to be the cause.
Revamping your resume can be a confidence boost, especially if it’s been a while since you laid out your accumulated
experience, accomplishments, and skills. Everyone I spoke with on the subject reported that being laid off was a blow to their
self-esteem. However, once they reappraised the situation, they were able to focus on their strengths, assets, and the value
they bring to the workplace, which boosted confidence and helped them muster the energy to be proactive. This will, of course,
be easier for some than others.
Whether or not you actually experience a layoff, develop a plan before the crisis hits.