The Ghana Psychological Association says employees who may lose their jobs following the collapse of two Ghanaian-owned banks, need psychological and unemployment insurance benefits.
In a statement to Myjoyonline.com, the Association said providing these insurance benefits to the displaced workers will help reduce the financial and psychological implications of the job loss.
Job insecurity among the staff of the two banks is growing following an admission by the central bank, that retrenchment is a possibility after it supervised the acquisition of the two struggling banks by GCB Bank.
Head of Banking Supervision at Bank of Ghana, Raymond Amanfo could only guarantee, the staff could keep their jobs “for the first three months up to six months".
He said from then on, the decision to retain or relieve, rests with GCB Bank.
The Ghana Psychological Association said it is concerned that too much attention is being paid to the assets and liabilities of the collapsed banks.
The Association wants to see greater attention paid the human resource implications of crashes.
GPA highlighted some of the "rippling psycho-social effects" of job losses saying it can lead to anger, depression, high blood pressure, sleep disorders, chronic diseases in the liver and respiratory systems.
It could also lead to severe loss of self-esteem.
The psychologists are urging GCB Bank to provide outplacement services such as stress management and skills training to those to be affected by the losses.
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