Emotional Intelligence in Business
“It’s not IQ that leads to success...EQ is more important: emotional intelligence, social skills, how you relate, can you get things done. That’s what makes a difference, especially in management.”
Jamie Dimon, President and CEO, JPMorgan Chase. (1)
EQ has twice the power of IQ to predict performance.
EQ is also a better predictor of performance than employee skill, knowledge or expertise. (2)
Remember that Grade A student who never amounted to much, or the double degree ninja you hired that didn’t work out, that's a lack of EQ. It’s good to know that geeks can have EQ, or learn and develop it too, we all can. The evidence is increasingly compelling. The measurable and learnable skills of emotional intelligence make a significant impact on organisational performance.
What is EQ and why does it matter?
- The ability to use emotions effectively
- It’s increasingly clear that these skills are the foundation of high performing organisations
- High EQ fosters a culture of innovation and trust
- Emotional Intelligence competencies are learnable and measurable
- They can be improved with training and coaching
- High EQ indicates better team performance, with higher productivity and profit growth
- Superior leadership performance by developing and recruiting for executive EQ
People with high EQ
- Get along and truly connect with others
- Respond carefully in the face of challenge
- Are proactive and balanced
- Operate with integrity
- Create workplaces where people excel
Fact or Fad
It's a fact. A good juicy scientific one. World leading organisations such as FedEx, HSBC, the US Airforce and Google tend not to invest in fads. Each of these has turned to the science of emotional intelligence as part of their human capital strategy.
It’s an emerging science and the research progress in the last 30 years is remarkable. The increased use of fRMI and accurate profiling across cultures and industries has given us a vast range of data used to develop strategies and measures to increase our emotional effectiveness.
Emotional Intelligence has become mainstream. Over 60 million hits on Google in 2016, and the Harvard Business Review’s most read and searched articles.
“In hard times, the soft stuff goes away. But emotional intelligence, it turns out, isn’t so soft. If emotional obliviousness jeopardises your ability to perform, fend off aggressors, or be compassionate in a crisis, no amount of attention to the bottom line will protect your career. Emotional intelligence isn’t a luxury you can dispense with in tough times. It's basic tool that, deployed with finesse, is the key to professional success. (3)
EQ in Health...
Emotional intelligence is very closely tied to our over all well-being via physical and mental health. Which makes sense. Stress is a killer, on so many levels, and best avoided. Think of the financial cost mental health days have on your business. And on yourself, or your people.
The hormones and chemicals created in the body from any stress response attack us at a cellular level. They impact the immune system, raise blood pressure, promote stroke, cancer or cardiac issues, speed up the ageing process and contribute to infertility. They’re not great for relationships either. And there’s anxiety and depression. Which may all sound a bit dramatic, but which side of that coin do you want to be on?
EQ in education...
Here’s the thing, kids are being taught EQ competencies in schools, right from day one. Emotional Intelligence, in different guises, is part of the curriculum all over the world. Educational content is available on the internet. Educators add value by teaching children how to navigate the world using values and emotions. Not only does the average 14 year old have better computer skills than most of us, they are becoming more conversant in EQ and the benefits of living in an emotionally intelligent world.
The bottom line
Everyone has emotional intelligence. The challenge is to see the value of emotions, then to use these skills on a daily basis. Whether it’s for career advancement, leadership, business performance or health, EQ is a talent you can’t be without.
Ready for more?
Dive into and wade through a google search, or sing out. We’ve got a nicely curated list of reading and research for you. Better still lets talk about EQ, and whats in it for you (which, let’s face it, is why you’re reading).
End Notes: A lot of the information on this page has come from “Emotional Intelligence - The business Case”, Joshua Freedman and Paul Stillman from the Six Seconds Emotional Intelligence Network. If you want to read the whole document, we can do that. 1. Gerald Mount, The Role of Emotional Intelligence in developing international business capability EI provides traction. In V. Druskat, F. Sala & G. Mount (Eds.), Linking Emotional Intelligence and Performance at Work. 2. Jamie Dimon quoted in www.chicagobooth.edu/news/2007-03-16_dimon_fireside.aspx. 3.“Breakthrough ideas for tomorrows business agenda”,Havard Business Review, April 2003