Higher EQ means what?
In business, we talk a lot about how logic and strategy are key determinants of success. Yet, we barely speak of the importance of emotional intelligence (EQ) to organizations. Emotional intelligence is an ability that involves managing emotions and handling interpersonal conditions. People with emotional intelligence have the capacity to regulate and become aware of themselves and particular situations that are critical in overseeing uncertainties.
In our body of work, we find companies with high emotional intelligence have:
Happier employees. When companies take into account emotional intelligence as a crucial skill and company trait, it produces employees that are less likely to quit, rather, it allows them to perform better.
Delighted customers. Having a high EQ characteristic allows companies to empathize and know the needs of the customers, resulting in a smooth and positive transaction.
Better hiring that is based on EQ. Businesses that put importance on emotional intelligence recognize the quality outcomes it brings to companies, therefore most of these businesses use it as a basis for hiring and continuously increase their EQ standards compared to prior years.
EQ capacity. Successful companies maximize the significance of emotional intelligence, thereby expanding company awareness and improving processes within and outside of their organization.
Low signal-to-noise ratios. High emotional intelligence allows companies to have definite specificity in terms of hiring and promoting those who are fit for the role of the job.
EQ as a core feature. They use EQ as a primary driver that leads them to achieve better objectives.
After examining 200,000+ leaders in the US, the findings show that high emotional intelligence is associated with systems thinking while low emotional intelligence scores are related to obstructionist thinking. This data further emphasizes the importance of emotional intelligence in the workplace.
Acknowledging the role of emotional intelligence provides companies with a substantial edge over their competitors. Companies that can manage emotional intelligence are likely to outperform the challenges of market conditions and can foresee future outcomes which also enables them to produce more predictable growth and net profits than average. High emotional intelligence in business equates to having a high-value company that provides a conducive environment for both workers and customers.