The Experience and Practice of Social Support during Major Organizational Changes: The Case of the Bank Collapse in Iceland in 2008

Abstract

This study explored how Icelandic bank employees perceived and practiced social support in the wake of the economic crisis when the banks suddenly collapsed in 2008. Drawing on 20 interviews with bank employees, it was found that during stressful situations, employees referred to social support as one of the most important factors in overcoming the changes. The study points toward a complex picture of social support practices during organizational changes and underlines the importance of distinguishing between both nature and source of the social support in practice and in research.