With daily reports in the media about companies laying off employees and small business owners struggling to make their payrolls, millions of Americans are going to sleep each night worried they may lose their jobs. 

Although the reality of these difficult economic conditions exists, excessive worrying about the prospect of being downsized isn’t an effective way to handle the possibility, experts say. 

To be better prepared if you lose your job, there are proactive steps you can take. 

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FOX Business spoke to two employment experts about how to balance the worry with setting up a plan to be ready for any employment changes. 

Losing a job involuntarily can be one of the scariest and most challenging times for someone, said Jeri Hawthorne, SVP, chief human resources officer, Aflac Incorporated, who is based in Columbus, Georgia.  

"Combined with rising expenses and an unstable political environment in the U.S., layoffs continue to cause angst among many," she said. 

To that point, the 2023-2024 Aflac WorkForces Report, the company’s annual survey of U.S. employers and employees, found that nearly 67% of employees stated that inflation has impacted them negatively in the past 12 months. 

This statistic is what’s driving most of the worry. 

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"Financial instability is one of the main drivers of stress among employees," Hawthorne told FOX Business. 

"So, it’s not surprising that the prospect of being impacted by layoffs causes fear and concern when many families already feel stretched thin." 

To better plan and be proactive, make savings a priority.  

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"I cannot overstate the importance of expecting the unexpected and having a financial safety net in place," said Hawthorne. 

"Just like illnesses and accidents, none of us can control whether we are impacted by layoffs. We can only control how prepared we are for these setbacks."

The best advice for letting go of constant worry when it comes to layoffs is to focus on what you can control, said Hawthorne. 

"In this case, that means making sure you are doing your job to the best of your ability, and it also means having a financial safety net in place," she noted.

She also recommended having a "solid savings plan for the unexpected, but even more so when the economic situation is murky, as it is today." 

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While none of us can control or predict the future, having some emergency savings in the bank can provide peace of mind.

The first question you should ask yourself is, "Can I cover my costs for one, three or six months without a paycheck?" 

The 2023-2024 Aflac WorkForces Report found that fewer than half (47%) of employees could survive for longer than one month without a paycheck. 

"Fewer than one quarter (23%) of employees could survive for six months or longer. If you don’t have an emergency fund, you should start there," Hawthorne said. 

Also, you can try to focus on your job performance to show your employer you’re an asset to the team. 

While nothing is guaranteed, there are key areas where employees can focus.

Understand what is expected of you and how your manager and other leaders are measuring your success, said Hawthorne. 

"If you’re having trouble meeting those expectations, be proactive and talk to your manager about it," she suggested. 

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"Together, you can come up with a plan to get back on track."

Companies are continuously looking to reduce costs and become more efficient. 

Keep your knowledge base and skillset current by staying up to date on key industry changes in your field, learning new technologies, etc., Hawthorne said.

"Companies are dynamic. They restructure; sometimes they get acquired; leaders retire; new technologies are introduced. So having an open mind and a willingness to adapt to a changing environment is important," Hawthorne told FOX Business.

Unfortunately, companies make cutbacks — and it is not always an indicator of how well employees are doing on the job.

"It can happen for many reasons that have nothing to do with employee performance, such as corporate restructuring, changing priorities or a merger or acquisition," Hawthorne clarified.

In some cases, leaders have to make the very difficult decision to trim in order to cut costs, she also said. 

"This is why it’s so important to have a strong financial plan in place, because layoffs are so often outside of anyone’s control," Hawthorne told FOX Business.

Once you're clear on any action you can take, you're left with your feelings, said Emily Ballesteros, founder of Burnout Management, LLC, in Seattle, Washington. She is also the author of the new book "The Cure for Burnout: How to Find Balance and Reclaim Your Life" (Feb. 2024). 

"As creatures, we fear the unknown and fear having our resources threatened — a layoff combines both of those things, so it's natural to have anxiety about it," she noted. 

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"Remember that worrying does not change the outcome, just your experience. No amount of worrying changes the future."

She recommends that people keep their head in the work game and continue doing their best. 

"Keep doing what you can at work, remind yourself that worrying won't change the outcome, and then, to feel a little more secure, create a fallback plan," she said. 

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Like other experts, Ballesteros advised people to save more aggressively, cut out unnecessary expenses and start reaching out to your network of contacts to warm them up in case you need them. 

She also suggested lining up back-up options such as moving home temporarily with parents or other family members, selling things around the home that are no longer needed — or using an old skillset for a different type of job in the interim.

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Getting laid off is just one of the stressful realities of the professional world, experts pointed out. 

"Look around you. Most professionals have been laid off, fired, unemployed or struggled to find work at some point," Ballersteros said. 

"It’s not shameful, it happens to many people, and most of those people found their footing again even if the initial layoff shook them."

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