The Surprising Long Term Impact of Layoffs on Company Performance & Employee Experience.

This is the second part of a two-part series on layoffs and their impact on the employee experience. The episode focuses on the long-term impact of layoffs, based on research conducted by Culture Amp. The study analyzed data from layoffs in the tech sector between March 2020 and December 2023, including over 3,300 layoff events by 2,400 companies.Chapters03:30 - Rebounding After a Layoff07:00 - How Long It Takes to Rebound11:46 - Determinants and Drivers of Engagement Post Layoff18:50 - The Impact of Second Layoffs22:01 - Main Takeaways and ConclusionDuring this episode, we discussed the health impacts of layoffs on individuals. You can read more about that below. Medical studies have shown that the trauma of unemployment causes disease. One study found that being laid off ranked seventh among the most stressful life experiences — more stressful than divorce, a sudden and serious impairment of hearing or vision, or the death of a close friend.Experts say that it takes, on average, two years to recover from the psychological trauma of losing a job.Source: https://www.latimes.com/opinion/story/2023-01-17/tech-layoffs-stress-trauma-unemployment-economy#:~:text=One%20study%20found%20that%20being,trauma%20of%20losing%20a%20job. If you've enjoyed this episode, please subscribe and leave a review on Apple Podcasts or follow and hit five stars on Spotify.Learn more about Culture Amp at www.cultureamp.com Follow Damon on LinkedIn to get his latest leadership insights, and follow him on Instagram to see behind-the-scenes footage from the podcast. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.