Imagine for a moment that you show up at work on a Monday and aren’t sure if you will still be employed on Tuesday. Think about what it must be like for individuals who are in the situation of experiencing job insecurity.

Recent unemployment reports show that unemployment is finally creeping downward. Employers are still navigating the talent wars of finding people to fill open positions. Even though there are positive signs, with the pandemic dragging on, there may be many types of business where job insecurity exists. We also know the “Great Resignation” is still going on. How much of that is being driven by job insecurity?

Job insecurity is a situation in which an employee perceives feels that they are in a situation where continued job security is threatened. Plainly stated – fear of losing your job. This results in a feeling of powerlessness. It impacts mental well-being, and create significant stress due to financial pressure.

When we look at drivers of employee well-being in the workplace, job insecurity falls into a broad category of job design. Job design includes other factors such as fair pay, role clarity, sense of autonomy or control, workload and scheduling.

Job insecurity impacts employee well-being. It is difficult for individuals to thrive when they feel that their livelihood is in jeopardy. Research has shown that job insecurity diminishes mental well-being. It also leads to decreased morale, productivity, and disengagement.

Employers own the responsibility of creating a work environment that fosters job security. There may be situations in which internal business or external/macro environmental factors, impact the organization’s stability. Creating a workplace communication strategy to keep employees informed may help reduce job insecurity. Offering training and reskilling opportunities may prevent the need to reduce staff. Prioritizing mental well-being and leading with empathy can help reduce the impact of job insecurity.

Creating a thriving workplace starts with reducing and eliminating job insecurity.