It is the capacity for recognizing our own feelings and those of others, for motivating ourselves, and for managing emotions well in ourselves and in our relationships.
– Daniel Goleman, 1998
EI refers to the capacity for recognizing our own feelings and those of others, for motivating ourselves, and for managing emotions in us and in our relationships. EI describes abilities distinct from, but complementary to, academic intelligence or the purely cognitive capacities measured by IQ.
Traditionally, the emphasis when evaluating potential performance has been on intellectual; now compelling research indicates that emotional intelligence is twice as important as IQ plus technical skills for outstanding performance. When IQ test scores are correlated with how well people perform in their careers, the highest estimate of how much difference IQ accounts for is about 25%.
Sustaining Change Results Requires Top Performing People
Over 70% of all change initiatives fail due to an insufficient focus on People. Research shows that lack of proper attention to People in times of change will lead to increased spending, higher employee turnover and lackluster results. The time lost on inefficient planning related to people issues leads to tremendous losses that cannot be recovered.
With effective leadership, the value of employees’ actions can be optimized to realise higher growth, greater shareholder value and sustainable competitive advantage. The ultimate goal? To create an organization that can adapt to changing business conditions. This innovative thinking differs from traditional change approaches, which often fail because they undervalue the importance of People.
Effective Leadership Development is the key to helping people deliver the results necessary for organizations to sustain results over time. Studies reveal that a tremendous amount of money is wasted on Training and Development programs that are not tailored to the organizations’ needs and include the necessary components to be successful. As a result, top talent is leaving in droves and the cost of replacing them is insurmountable.
With recent research and compelling findings, it is now clearly evident that one ingredient is necessary for people to develop to their maximum potential – and that is Emotional Intelligence.
The best news of all – Emotional Intelligence can be learned!
How Do Organizations Benefit From Having Employees With Emotional Intelligence?
When it comes to technical skill and the core competencies that make a company competitive, the ability to outperform others depends on the relationships of the people involved which ultimately relates to the degree of emotional intelligence of its employees and leaders.
And there is a ripple effect – leaders possessing emotional intelligence will create an effective work climate that will further develop emotional intelligence at the subordinate levels. Studies show that, outstanding organizations that employ individuals with a high degree of emotional intelligence hold the following in common:
Success Factors of Emotionally Intelligent Organizations
|Organizational commitment to a basic strategy
||Collaboration, support and sharing resources
|Initiative to stimulate improvements in performance
||Innovation, risk taking and learning together
|Open communication and trust-building with all stakeholders
||A passion for competition and continual improvement
|Building relationships inside and outside that offer competitive advantage
||A balance between the human and financial side of the company’s agenda
Why Are Organizations Interested In Developing Emotional Intelligence?
According to studies, Emotional Intelligence is on the decline across all economic groups across all cultures. The most telling signs of this are in rising rates among young people. The generation that is falling behind in emotional intelligence is entering the workforce today.
As a result, a survey of American employers reveals that:
- More than 50% of the people who work for them lack the motivation to keep learning and improving in the job.
- 4 in 10 people are not able to work cooperatively with fellow employees.
- Only 19% of entry level applicants have enough self-discipline in their work habits.
- Billions of dollars are wasted on development programs leading to a less than desired return on investment in leadership training.
- 70% of all change initiatives are not netting the desired results due to people issues – ability to lead, work with others in teams, take initiative, deal with change, etc.