Executives: "Losing a job can shake the entire foundation of their self-worth"

Companies are currently undergoing significant personnel cutbacks - this also affects executives. Within a year, the number of unemployed executives registered with the Federal Employment Agency has skyrocketed by 14 percent across all industries. This is shown by figures from the Federal Employment Agency. What does this do to people who have largely based their lives on their professional performance?

Christine Altstötter-Gleich is one of the leading researchers on the topics of self-worth and perfectionism. In an interview, she explains which people are more likely to be at risk of slipping into depression after being laid off, and what managers can do preventively to avoid getting caught in a negative spiral in an emergency.

A layoff is always a hard blow. However, some people cope with it better than others. This depends on personality structure. Of course, there are also differences among executives. However, these are often high-achievers who derive a large part of their self-worth from their job. If they lose their position and don't find a new one immediately, a central source of recognition is lost.

And that can be enormously stressful. Many executives have invested heavily in their careers and spend a lot of time at work. Does their self-worth therefore stand on particularly shaky ground? It all depends. Self-worth is part of our self-concept. In simple terms, this is the image we have of ourselves. For example, "I'm courageous" or "I'm attractive" or "good at my job".

Self-worth is the evaluation of this concept. So, "How good do I think I am, as I am?" Both arise from experiences, personal successes, one's own values, and external evaluations. Work plays a central role here for many, as we spend many hours of our lives there and experience successes and failures. So, it's quite natural that people derive part of their self-worth from their performance at work?

Yes. In principle, people do what they are rewarded for and avoid what they are punished for. And we live in a society that rewards performance. This starts in school or even earlier. If you get good grades, you receive recognition. This principle carries through to professional life. If performance is good, you also get good feedback - which in turn leads to a sense of achievement.

The problem only arises when someone focuses exclusively on performance at work and a so-called contingent self-worth develops. You have to explain this... Here, self-worth is heavily dependent on confirmation from others. You only feel valuable if you receive recognition - for example, because others think you're good or because you're performing exceptionally well at work.

Accordingly, this self-worth often fluctuates greatly: it's dependent on external factors and can quickly become unstable in the face of criticism or setbacks. This can even be more stressful than a permanently rather low self-worth. Are there people who, by personality, tend to develop a contingent self-worth? One of my main areas of focus is perfectionism.

Perfectionists often achieve a lot and receive praise from others as a result. In their case, a contingent self-worth is relatively common. Although, of course, there are also differences here. What are these? The decisive factor is what motivation lies behind high performance: is it about enjoying success and shaping things - or primarily about fear of criticism and failure?

If someone acts out of interest and enthusiasm for success, they can usually cope with setbacks better. If, on the other hand, the motivation to perform optimally comes from fear of failure, that's a problem. Does this apply frequently to executives? Not to all of them, certainly. However, for professionally very successful people, which executives usually are, it's not unlikely that work makes up a large part of their life and identity.

If other areas are missing where they experience recognition and belonging, a job loss can shake the entire basis of their self-worth. In addition, they usually have high expectations of themselves - otherwise, they wouldn't be where they are. What happens to such people when they lose their job? For them, a layoff is often the worst-case scenario: precisely what they wanted to prevent with enormous effort suddenly occurs.

Even if a layoff has nothing to do with the person's actual performance, people with this personality structure interpret it as an ultimate failure. And then? In the worst case, those affected get into a severe personal crisis. Some feel downright paralyzed. For example, they're no longer able to apply for jobs. Generally, they find it difficult to focus on new opportunities and possibilities. If this develops into depression, I strongly advise seeking professional help.

How can an executive recognize that their own self-worth is contingent? For example, in dealing with criticism. If someone reacts very sensitively to constructive feedback or feels downright shaken by it, that can be an indication that their self-worth is too heavily dependent on recognition from others. A contingent self-worth is also often unstable.

This is evident, for example, when someone is euphoric after praise, but their mood immediately drops as soon as even a hint of criticism appears. So, if you notice that your well-being depends largely on praise and recognition from others, you should counteract this. Do you have any tips here? Generally, it's essential to base self-worth on several pillars.