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Today's Christian, November/December 2002

Job Insecurity
The Arthur Andersen debacle robbed me of my employment and life savings. But what I gained was worth the cost.
by Steve Stoner as told to Greg Asimakoupoulos

For tens of thousands of people (myself included) Arthur Andersen was the Grinch this past year. But even though I lost a job I'd had at Andersen for 14 years, that devastating experience has not completely stolen my joyThe fallout of Andersen's involvement in the Enron scandal and the current economic crisis has left me with all kinds of vexing emotions. I, too, was shocked by the unethical practices of a few greedy individuals. The harm they have caused is egregious. Sadly, many innocent and hard-working employees were punished for the misdeeds of a handful of people. But I'm also cynical about the way the media has misrepresented some of the good people I worked with.

I knew that Andersen was in trouble for months prior to the company's collapse, but I was convinced an empire that big couldn't fall. Surely one partner in Houston wasn't capable of bringing the whole thing down.

I was wrong. What began as a little landslide last January became an avalanche in a few weeks. I remember the day when I realized there was nothing to do except slide down the hill and try to land on my feet as best I could.

If you've ever been unexpectedly unemployed, you know the feeling. The loss of a business card is one thing. The loss of a regular paycheck is another. But losing what amounts to your life savings is altogether different.

I watched in disbelief as my Partner Capital investment program (that had grown impressively for years) evaporated almost overnight. At age 42, my net worth was the same as it had been 20 years earlier as I'd graduated from college.

Still the message of this season of the year is that God delights in redeeming the darkness of our lives and offering hope, peace, and joy to our world. And that's exactly what I experienced. The evening of the day it all dawned on me how much I'd lost, my wife and I were scheduled to volunteer at the local homeless shelter our church supports.

When I started dishing out a hot meal and made beds for homeless men and women—many of which were my age—I realized my plight could be much worse. It was amazing. My depression and anger began to dissipate so that by the end of my shift, I was no longer feeling sorry for myself.

In spite of job insecurity, I was healthy and strong. I had a wife and three children who loved me. I had a comfortable home I'd be able to continue owning. And because of the reputation the majority of Andersen employees have in the industry, I knew I wouldn't have trouble getting another job.

The Holy Spirit seemed to remind me that my wealth had little to do with markets or pension funds. It was in feeling loved and cared for by a heavenly Father who was in control of my life. I realized that my real estate was not in my career but my confidence in God.

I was convinced that my situation was a validation of one of my favorite verses in Scripture: "And we know that God causes everything to work together for the good of those who love God and are called according to his purpose for them" (Rom. 8:28, NLT).

Rescued from burnout
The Lord knew I was at a burnout point before Andersen started to unravel. As a real estate consultant, I work with corporations to develop strategies that support and improve their facilities and operations. I'd been the head of Andersen's U.S. real estate consulting practice and worked with approximately 50 people in Chicago, New York, Los Angeles, San Francisco, and Washington, D.C.

But what looked to many like a dream job with enviable perks had in fact been taking a big toll on me. The excessive travel and long hours was having a negative impact on my family life. My marriage was beginning to suffer, too. With a boss in Europe and clients in Asia, multiple time zones meant my workday included all of my waking hours. As odd as it might sound, the collapse of Andersen was a welcomed opportunity to reclaim portions of my life over which I'd lost control.

In a strange sort of way, losing my job was a gift from God. I didn't have to stress out over the pros and cons of whether to resign or accept another job. I didn't have to worry about what my supervisors would say about my wanting to leave. Due to what played out, I had no other choice. And thankfully, I found a new position right away.

Grace for the hardest part
But lest it sound as if my roller coaster ride with the Grinch wasn't all that frightening, I'm quick to confess to anyone who asks just how hard it was.

Next to losing my life savings, the hardest part of the whole Andersen nightmare was having to fire those under me. I eventually had to terminate the jobs of almost 20 people personally. I did all of it in one day, one by one, face to face. I was up all night the evening before, dreading what I had to do.

The first two firings were traumatic. After that it got much easier.Fortunatly, the Lord gave me the grace to do what I had to do graciously, and those I had to terminate were all understanding. Because of my commitment to them, I did everything I could to help them find jobs. It was even possible for me to bring several of them with me to my new place of employment.

As I approach our family's holiday celebrations this year, I'm giving my wife and kids their husband and father back. My priorities have returned to the right order. I have taken a job with a controllable pace and a more realistic travel schedule. With the Lord's help, I've come to evaluate and celebrate that my true net worth is a measurement of what's at home and in my heart than what's in a bank account or on a brass nameplate.

Surviving a Layoff

No job is entirely secure. If major firms like Andersen, Enron, and WorldCom can fail, so can any other human-led organization. Here are Steve Stoner's tips for surviving a sudden job loss.

  • Maintain a savings account beyond company pension programs or stock options.

  • Treat every individual that you meet as a potential future employer. They may be.

  • Create balance in your life. Guard family time ruthlessly. Volunteer in a ministry or civic organization (i.e., a homeless shelter). Permit yourself a hobby. If your whole life is your job and you lose it, you don't have much left.

  • Surround yourself with a support system of peers at work and church. It helps to talk about these issues with people who care and understand.

  • Stay true to your Christian values at all costs. Always be able to look in the mirror and be at peace with the person you see there.


November/December 2002, Vol. 40, No. 6, Page 46



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