7 Things Your Employees Fear the Most

It’s the summer of 2011, yet we are still reeling from the economic meltdown of the fall of 2008. Employees at all levels are anxious about their job security, and for good reason – Bloomberg recently reported that the economy remains “spongy,” and economic growth isn’t as robust as we’d hoped.

Besides the obvious fear of losing their jobs, however, what other things are keeping your employees awake at night? Based on my discussions with rank-and-file workers at our corporate team building events this past year, here’s a quick peek:

1) They are Professionally Plateauing – The economy has forced companies to enact hiring freezes and defer promotions, and employees are fearful to leave their jobs. The result here is that otherwise clear progressions in title and responsibility are not happening, and staff are staying right where they are, doing the same thing. The fear? They are becoming pigeonholed.

2) Their Skillsets are Becoming Irrelevant – Companies seeking to cut costs are increasingly outsourcing, and knowledge workers – especially those with specialized skills – feel that they are rapidly being replaced by call centers in Bangalore who can provide specialized skills off-site, at a fraction of the price.

3) They Can’t Have the Lifestyle they Want – Fewer employees to cut costs means more work for everyone, and that means longer hours – frequently workdays that begin well before 9am end long after 5pm, and span weekends/holidays. Who wants to live like that?

4) Uncertainty at the Top – In unsteady times, employees are desperate for stability, and are looking to firm leaders to tell them that the worst is behind us. They want to know that the company is healthy, the client work will keep coming and that the senior decision makers will make the right moves, yet they do not always feel this confidence is being communicated through the ranks clearly, if at all.

5) Changes in Salary, Benefits or Amenities – Even if their jobs appear secure for the near future, employees remain incredibly fearful of salary/hour cuts, furlough days, increases in deductibles and co-pays, loss of on-site babysitting, elimination of pension matching and a host of other things they have come to expect, and often depend on.

6) Lost Opportunity – Even though the economy affects us all, it’s still human nature to gaze over at the other side of the fence, where the grass appears much greener. Staff today worry that by sticking around at any one company for too long, they will miss out on important opportunities to develop skills, grow networks and advance their careers.

7) The Unknown – A fear blind to employment level, the mere unpredictability of the current environment and its affects on companies and entire industries is a constant source of worry for all corporate stakeholders, from senior management and board members to rank-and-file employees, contractors and consultants.

We remain in uneasy times, yet if you are aware of what your staff is fearing most, you can then take steps to address. What would you recommend to help calm an anxious workforce suffering from the above?