One Size Does Not Fit All: Counseling Paths to Restore Financial Well-being

Abstract

One Size Does Not Fit All: Counseling Paths to Restore Financial Well-being Paula K. Darling Abstract For most people, a job loss has psychological impact on self-confidence and the loss of important social anchors. This affects their sense of well-being and their ability to cope with these psychological as well as associated financial challenges. People vary in how they attribute causality (external or internal) to a job loss and how well these match reality (i.e., whether the loss stems from external factors outside their control or from internal factors such as deficient job skills and performance). We argue that whether these causality attributions are accurate (or misattributions) influences peoples' locus of control (external or internal), the emotions they experience and their subsequent behaviors. We discuss four attribution categories and describe how receptivity to counseling components (psychological, financial, job-related competency and job search procedures. Using a grounded theory methodology, we use qualitative in-depth interviews with a purposive sample of thirty respondents to elicit descriptions of their lived experiences following job loss. We examine the extent to which these lived experiences correspond to the anticipated set of counseling needs in each attribution category. Our results show that the lived experiences (locus of control, experienced emotions, displayed behaviors and receptivity to counseling) described by our respondents generally correspond well to those anticipated. We find differences among our categories in their receptivity to counseling. Individuals in Category 1, who accurately attributed the job loss to external factors, move forward proactively to search for and quickly find new jobs. Category 2 respondents had misaligned internal attributions even for circumstances that were beyond their control. These individuals often procrastinated even as they acknowledged and were receptive to their counseling needs. Individuals in Category 3 made an incorrect external attribution and an unwillingness to recognize that the job loss resulted from their own internal deficiencies on job-related skills. They tended to deny accountability, shifted blame and showed low receptivity to available counseling resources. Finally, individuals in Category 4 made a correct attribution that the job loss was due to their own (internal) deficiencies. They acknowledged and were receptive to their counseling needs on psychological and financial dimensions, as well as for competency development. An important insight that emerged from the live experience descriptions is that the attribution categories were not fixed. Individuals sometimes transitioned from their original attribution category over time when they experienced extended periods of unemployment. Based on these results, we proposed a need for counseling programs that are not "one size fits all." Rather we propose a need to develop counseling and therapy programs that are tailored to individual needs. The proposed programs components include psychological and financial counseling, as well as support for development of job-related competencies and procedural support that facilitate the job search. We also propose the sequence in which these components need to be delivered to enhance program effectiveness. The findings contribute to both a theoretical understanding of individuals' lived experiences following job loss and provide useful guidance for practitioners in developing effective counseling and therapy programs.