In this news:
Economic threats and tariff war fears are raising employee job insecurities, reducing consumer ... [+] confidence and slowing down spending, but there are steps you can take to reclaim your peace of mind.
As tariff threats continue, potentially-impacted U.S. companies warn of closures and layoffs. Threats of economic uncertainty and workplace issues continue to weigh on workers taking a tremendous toll on their mental health, creating fears of layoffs and a reduction in consumer confidence. If you’re worried about job security amid escalating tariff threats, chances are you’re wondering what you can do. It might seem like there’s little you can do to alleviate worry, but experts advise there are actions you can take to mitigate tariff war fears.
Tit-For-Tat On Tariffs And Your Tariff War Fears
I spoke with Rick Hammell, founder and CEO of Helios, an expert in global workforce management. Hammell told me he recognizes that the imposition of tariffs can create significant uncertainty within our workforce and the broader economy. “Employees are understandably worried about their job security and overall economic stability, particularly in a sector that thrives on innovation and rapid change,” he notes.
He acknowledges that tariffs lead to increased costs for materials and components integral to operations, putting pressure on margins, potentially leading to difficult decisions regarding staffing and resource allocation. "Workers in our industry may fear layoffs, wage stagnation or reduced hours as companies seek to navigate these financial pressures.”
Hammell recommends that employees remain informed about the evolving landscape of their specific sectors. “Understanding how tariffs affect supply chains and market demand will empower them to advocate for themselves and seek opportunities for professional development,” he adds. “I encourage our teams to engage in continuous learning and skill enhancement, as adaptability is key in a rapidly changing environment. By staying proactive and informed, employees can position themselves as valuable contributors, ready to tackle new challenges that arise from these economic shifts.”
Four Tips to Navigate Your Tariff War Fears
Instead of toughing it out at work, there are steps you can take to keep your mental health in check in the tumultuous economy here. I also spoke through email to Jay McDonald, former CEO and executive advisor. "Whether it’s tariffs or the next big tech advancement, there will always be something that may make your job expendable," he insists.
.png)
