Editorial > The 4-step formula to thrive in the prevalent Economic Crisis

The 4-step formula to thrive in the prevalent Economic Crisis

Dais Features | 10/10/2020 04:20 PM

Eight months ago, when we first heard of Covid-19, we didn’t pay much attention. The lockdowns, the social distancing shoutouts, and the media coverage were good as information but not of much use, then.

And now, when a lot of us have a relative admitted for the dreaded disease or a friend who is isolating with the fear of being infected, Covid has come too close to not care.

Something similar happened with the disease of the mind this year (is it a disease at all?). A celebrity dying of suicide and then becoming a subject of national-level investigation – made entertainment. But as we went along, deaths by suicide began happening in the neighborhood, to supposedly “common” individuals – A ‘normal’ ex-CBI chief, a ‘normal’ police constable, a ‘normal’ family of four, a ‘normal’ designer-next-door, a ‘normal’ student before exam day – the definition of ‘normal’ was now under question.

Mental illness had hit home.

The human mind can surely self-heal but it also needs a little nurturing from time-to-time. It feels the weight of the loss of a loved one and also gives up baggage in the embrace of a friend. But often, it doesn’t share its deeper, innermost apprehensions that sometimes lead to extreme actions.

This needs to stop, there needs to be an introduction of similarity between the disease of the body and that of the mind.

Commencing today on World Mental Health Day, and as Hashtags like #mentalHealthforall and #mentalhealthday start trending, Dais World begins a six-part series on mental awareness and tries to bridge this gap between the openness of seeking help for one’s physical ailments as well as one's mental discomforts.

Our first edition is about the one thing that affects our minds the most – Our Work.

Acclaimed Life and Career Transitions Coach Anita Sachdev writes about acceptance and adaptability. What is happening to you is happening to most of those around you; that you need to pivot yourself to keep functioning without allowing this crisis to get the better of you.

How to thrive in the prevalent economic crisis?

Are you on the verge of losing your long-held job or is your business falling apart? Are you oscillating between precarious situations not knowing where to find fiscal stability? Is the economic crisis affecting your attitude, relationships, health, and overall well-being?

Each day we get news of the economic downturn. Companies like Cognizant and Uber have had to let go of hundreds of people. Across the board industries like manufacturing, auto, IT, and services are affected. Seemingly, it’s everywhere. So how does one survive this impending turmoil and maybe even come out on top?

Success is all about YOU and the lens with which you view your situation and yourself. Here’s my winning four-step formula, which will help you take a quantum leap into a success cycle despite the current economic situation that is unfolding around us.

ACCEPT the uncertainties

In difficult times, people prefer to live in denial. It is easier to believe it is not in my sector or business. History has shown the negative impact of an economic downturn on people, not just in their financial stability, but also how it affects their attitude, relationships, and health.  Today’s situation with the resulting job scare is the current reality in India, post the implementation of demonetization and GST.

Transitions are never easy but once accepted they become easier to deal with. As in the words of Laozi, “Life is a series of natural and spontaneous changes. Don't resist them; that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.”  It is just like pain, only once you accept it can you seek treatment to soothe it.  

One way you could address this situation is by changing your perspective to manage the situation, by tapping into your success factors and strengths to win this game or get support from a mentor or a coach.

ACKNOWLEDGE your emotions

Often harsh realities are internalized in a damaging manner. It is like accepting the end of the job just as the end of life. You keep feeling a plethora of negative emotions and fears compounded by endless discussions on the situation, making matters worse. Each aspect feeds off the other leading to a vicious cycle of losing faith in self, organization, and country.

When you are feeling anxiety or fear about your future, it helps to accept that fear is a basic emotion, which can potentially protect you from the danger of the downturn. All you have to do is understand the basic differences between the emotions that serve you and the ones that don’t.

Rainer Maria Rilke summed it aptly, “All emotions which gather you and lift you up are pure; that emotion is impure which seizes only one side of your being and so distorts you.”  

You could choose to heighten your awareness to enable you to convert your emotions into success strategies. For example, when you are un-accepting of other’s success it becomes envy and self-awareness could get you inspired to get out of your comfort zone and experiment with something new!

ADAPT with ease

Accepting your insecurities during the transition and acknowledging your emotions is the preparatory part. The action comes in when you start adapting to the situation.  William Bridges aptly pointed out “We resist transition not because we can't accept the change, but because we can't accept letting go of that piece of ourselves that we have to give up when and because the situation has changed.”

To adapt during transition observing behaviors and drivers, examining self-worth is critical to create long term success. You may think of putting in extra hours of work so that you don’t get sacked like your colleague or over-delivering during a downturn to prove you are worthy of the job, but all this can become a costly affair once things get back on track!

A way to adapt to the changing circumstances is gaining self-worth with a clear understanding of new innovative ways of looking at your current job/role. You could write a new job/role within the organization, or perhaps consider a secondary part-time career based on passion and talent such as teaching, music, arts, speaking, etc.  

ACCOMPLISH a winning attitude

“Yes, I can!” is the simple statement which puts you on the winning track. Hence it is important to use positive language while speaking to others as well as during all self-talk. Simply cheering yourself when your confidence is low after a job loss can increase your prospects of finding another better job.

Having a do it all attitude can make wonders happen. Imagine going for the new interview with a lot of self-doubt. Then chances your demeanor and confidence may not showcase your true talent. Converting the negative mental chatter to smaller positives is a huge accomplishment on the way to getting what you want despite the economic downturn.

You could choose to build a plan with a future-forward orientation viz. building a network, reaching out to colleagues within the industry with a new value proposition, be seen at seminars and conferences, and engage with industry leaders. Probing possible options and receiving ongoing encouragement from your mentors along with a structured plan, will make anything possible for you.

A N I T A  S A C H D E V  is a globally seasoned business and communications professional and an ICF-PCC Certified Coach and a Thought Partner who inspires conscious life transitions and propels growth for individuals and corporate leaders.

Her thoughts can further be accessed Here.


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