IQ (Intellectual Quotient) has been the gold standard for measuring a person's intellectual intelligence for over 100 years. But a person's brainpower is only one part of the equation when it comes to succeeding at work and in life, and organizations are starting to come to the realization of the key role Emotional Intelligence plays in a successful professional life.
Emotional Intelligence or EQ (Emotional Quotient) was first studied in 1964 by Michael Beldoch and popularized in a book by Daniel Goleman in 1995.
Peter Salovey and John D. Mayer described Emotional Intelligence in 1990 as "a form of social intelligence that involves the ability to monitor one’s own and others’ feelings and emotions, to discriminate among them, and to use this information to guide one’s thinking and action".
EQ requires the five following traits:
- People Skills
What is Emotional Intelligence or EQ?
- The ability to be aware of, name, and manage one’s emotions.
- The ability be aware of, name and understand other’s emotions.
- The ability to relate to others in effective ways both personally and professionally in a wide range of contexts and roles.
Why is EQ Important at Work?
1. Managing Stress
Emotional intelligence helps us manage stress which is vital for enhanced co-operation, teamwork, and relationships.
Our ability to work together is profoundly impacted by our emotions, and this requires an ability to self-soothe, connect, and integrate in workplace relationships.
Click "READ MORE" to See Keys 3-31 to Career Success Through Emotional Intelligence...
Understanding Emotions in the Context of Business
Three emotional capacities—self-reflection, self-regulation and empathy—form the foundation for all competencies and skills.
Why Emotional Intelligence is Needed to Succeed
3. Studies have found that 67% of all skill-based competencies deemed essential for high performance were related to emotional intelligence.
4. It was also discovered that emotional intelligence mattered twice as much as technical knowledge or IQ for this high performance.
5. One study tested 186 executives on emotional intelligence and compared their scores with their company’s profitability; leaders who scored higher in emotional intelligence were more likely to be highly profitable.
6. Another study found that when asked what traits set superior performers apart, emotionally intelligent competencies were highlighted 44% of the time and cognitively intelligent competencies only 19% of the time.
The Benefits of EQ in the Workplace
Emotionally intelligent people are an asset to a workplace as they can:
7. Successfully manage difficult situations
8. Express themselves clearly
9. Gain respect from others
10. Influence other people
11. Entice other people to help them out
12. Keep cool under pressure
13. Recognize their emotional reactions to people or situations
14. Know how to say the “right” thing to get the right result
15. Manage themselves effectively when negotiating
16. Manage other people effectively when negotiating
17. Motivate themselves to get things done
18. Know how to be positive, even during difficult situations
How Low Emotional Intelligence Can Negatively Impact the Workplace
19. Blaming others
20. Victim statements such as “If only he/she would . . .”
21. An inability to hear critical feedback
22. Diverse opinions that are not welcomed or valued
23. Passive, aggressive or passive-aggressive communication
24. Leaders who do not listen and become out of touch with those they lead
The Most Emotionally Intelligent CEOs
Jeff Bezos’ obsession with the hearts and minds of his customers and his long-term perspective on relationships (and business strategy) are well known. He famously discussed this during his YouTube announcement of Amazon's Zappos acquisition in 2009.
Buffet once famously stated that "Success in investing doesn't correlate with IQ once you're about the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble investing." Buffett is relationship-driven and asks his CEOs to run their companies as if they were to own them 100 years from now.
In tandem with Anne Mulcahy who moved up to Chairperson, Burns transitioned to CEO as the first woman-to-woman CEO leadership transition in a Fortune 500 company in what has become a pivotal case study in organizational development. Direct, yet respectful, her assertiveness is matched by a sense of mission that inspires her employees.
At Harvard Business School, Dimon said: "You all know about IQ and EQ. Your IQ's are all high enough for you to be very successful, but where people often fall short is on the EQ [Emotional Intelligence]. It's something you develop over time. A lot of management skills are EQ, because management is all about how people function.”
Schultz says that the main reason he came back was "love" for the company and its people. Schultz is dedicated to generous healthcare benefits for employees - inspired by his father losing his health insurance when Schultz was a kid.
Hiring an Emotionally Intelligent Staff
If a person has a healthy sense of self-awareness, they understand their own strengths and weaknesses, as well as how their actions affect others. A person who is self-aware is usually better able to handle and learn from constructive criticism than one who is not.
A person with a high EQ can maturely reveal their emotions and exercise restraint when needed. Instead of squelching their feelings, they express them with restraint and control.
Emotionally intelligent people are self-motivated. They are not motivated simply by money or a title. They are usually resilient and optimistic when they encounter disappointment and driven by an inner ambition.
A person who has empathy has compassion and an understanding of human nature that allows them to connect with other people on an emotional level. The ability to empathize allows a person to provide great service and respond genuinely to others’ concerns.
29. People Skills
People who are emotionally intelligent are able to build rapport and trust quickly with others on their teams. They avoid power struggles and backstabbing. They usually enjoy other people and have the respect of others around them.
Many thanks to Brighton School of Business & Management for this great infographic.
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