Table of Contents

The Psychology of the Recession on the Workplace

The Psychology of the Recession on the Workplace

New Horizons in Management series

Edited by Alexander-Stamatios G. Antoniou and Cary L. Cooper

An economic recession can affect the aggregate well-being of a population. This highly regarded and timely book shows a significant increase in the mean levels of distress and dissatisfaction in the work place in recent years. In particular, increasing job demands, intrinsic job insecurity and increasingly inadequate salaries make substantial contributions to psychological distress, family conflict and related behaviors. The contributors reveal that the recession has fundamentally altered the way employees view their work and leaders. With employers and employees still facing a continued period of uncertainty, a severe impact on employment relations is a continuing reality.

Chapter 5: The mark of recession in the high-tech industry: high stress and low burnout

Ayala Malach-Pines and Nurit Zaidman

Subjects: business and management, human resource management, organisational behaviour, strategic management

Extract

Recent years have seen ‘one of the deepest and most damaging recessions in modern times’ (Cooper, 2010). The global banking failure that gripped most countries in the world had an impact in developed, developing and underdeveloped worlds. The global financial crisis, with the attendant job losses, job insecurities, financial worries and pension deficits caused enormous stress for many people in different aspects of their life. This stress, in turn, increased the health and well-being risks for both individuals and families (Cooper, 2009). The crisis had adversely affected many workers, who had suffered job loss or higher levels of job insecurity, translating into increased absenteeism and attendance; it profoundly affected families who have acquired mountains of debt that they were unable to deal with; it affected the retired and elderly as they tried to live on pensions that were decimated by the crisis, and many more groups and communities throughout the world (Cooper, 2010). The ‘hard times’ resulting from the ‘Great Recession’ represent an opportunity for researchers to examine how individuals and families use their resources to manage stress (Rothwell and Han, 2010). An example is a study that attempted to explore the relationship between economic downturn and psychiatric emergency services (PES) admissions, comparing the characteristics of patients who utilized PES before and during the economic recession (Lo and Woo, 2010).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information