| | Dear Steven,
The events on Wall Street and in business centers around the world have reshaped the landscape of the financial industry and injected a level of fear and uncertainty into daily life, from the corner office to the kitchen table. Very few people would feel themselves to be immune from the cascading effects of this meltdown.
Like other types of disasters, the emotional consequences of this crisis can be staggering. Left unchecked, fear and anxiety can cloud judgment and decision-making at time when it is needed most. It can contaminate relationships at home and in the workplace, and if sustained, can erode both physical and mental health.
Job losses, declining portfolio values, and dwindling retirement accounts have people across the country and around the world on edge. The lead story on every front page, and the focus of every political commentary has shifted to the fate of the pillars of Wall Street. These are very unsettling times and emotional reactions are running the gamut from distress to disgust to despair.
As a disaster responder for more than 20 years, I have personally witnessed the emotional carnage that can be left in the wake of natural and man-made catastrophes. Such events can result in emotional aftershocks that can reverberate for years, sometimes decades, after the initial event. For some, the disaster may require completely starting a personal or professional life over from scratch. After disasters, life may just never be the same again.
In this special issue, we have shared lessons- learned in managing the emotional consequences of natural disasters, which in itself is timely and useful given the impact of recent hurricanes on the Gulf Region. These lessons-learned are discussed in the context of the current financial crisis and provide a window into how threatening life events, regardless of their origin, can affect our psychological well-being. In partnership with my colleague, Cynthia Simeone of Satori Consulting, the following paper discusses the potential emotional impact of these recent events, along with strategies and techniques for coping. Click on the link below to download "From Bourbon Street to Wall Street: Managing the Emotional Consequences of the Financial Crisis-Lesson Learned in Natural Disasters."
As always, XBRM stands ready to help you and your organization address the human-side of crises. These are challenging times, no doubt. I am confident that these lessons can help inform your understanding of the human factor as this saga continues to unfold.
Best regards,
Steve Crimando,
Managing Director
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| From Bourbon Street to Wall Street: Managing the Emotional Consequences of the Financial Crisis-Lessons Learned from Natural Disasters | | Click on the link below to download the white paper as a PDF. | | View or download the paper | |
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