Higher Emotional Intelligence = Better Business

In the past few years, there has been a growing emphasis on the importance of Emotional Intelligence in the workplace. Many employers and hiring managers have even begun to include tests and activities that measure a candidate’s Emotional Quotient in their screening process.

Does this align with your own practices in your business? If not you should consider making Emotional Intelligence a core value in your business. You can do this by evaluating yourself. 

What is Emotional Intelligence

First, let’s define some key concepts. Emotional Intelligence, or EI, is “the capacity to be aware of, control, and express one’s emotions, and to handle interpersonal relationships judiciously and empathetically.”  EQ is the measure of emotional intelligence. A person who is emotionally intelligent are well aware of their emotional states, both positive and negative (Psychology Today)

There are three factors that makeup Emotional Intelligence: emotional awareness, emotion management, and problem-solving.

Emotional awareness is the ability to recognize and identify the emotions you’re feeling. Emotion management is being able to control those emotions when it is necessary and being able to help others do the same. Problem-solving is being able to use emotions to solve problems.

Understanding Your Own Emotional Intelligence

Jeans Greaves & Travis Bradberry outline in their book, Emotional Intelligence 2.0, a few questions you can ask yourself to measure your EQ.

How many of these questions can you answer yes to:

• Do you have a robust emotional vocabulary?
• Are you curious about people?
• Do you embrace change?
• How well do you know your strengths and weaknesses?
• Are you a good judge of character?
• Are you difficult to offend?
• Do you know when and how to stay NO?
• Do you let go of mistakes easily?
• Do you hold grudges?
• How well do you neutralize toxic people?
• Do you get fixated on trying to achieve perfection?
• Do you readily appreciate what you have?
• Do you stop negative “self-talk”?
• Do you limit joy in your life?
  

Ideally, you should be able to say “yes” to all of these questions, but this may not be the case. Don’t feel ashamed, we’re all human. If you have said “no” to quite a few of these questions, you may need to take steps to raise your EQ.

This is very important as a business owner, as having high emotional intelligence will allow you to lead your team by creating a comfortable and healthy environment. Emotional intelligence also affects:

Your work performance - Being able to understand your emotions and the emotions of others will make navigating the workplace much easier. You are able to better understand your team and you can better express yourself and your expectations to them. In return, you can build a team that has a high level of trust in you and they will be more willing to follow your lead. Having a team that trusts you and follows you means you can have stronger faith in your team. You will know them better and be able to delegate responsibilities and tasks to them effectively. 

Your health - Being able to manage your emotions and take control of negative emotions like sadness and anger means you will be better able to manage stress. Unmanaged stress can lead to high blood pressure, a suppressed immune system, an increase in heart attack or stroke risks, and can speed up the aging process. 

Additionally, your mental health can suffer because of unmanaged emotions. You will be more susceptible to anxiety and depression, and the loneliness will make you feel more isolated from those around you.

Being a business owner can be draining and can sometimes feel lonely too. Having higher emotional intelligence can help you better manage those feelings.

Emotional Intelligence in the Workplace

Studies indicate that those with low EQ are more likely to struggle in business. This can include an owner, manager, or employees. On the other hand, those with a high EQ tend to be more successful in business.

The implications that come with having a high EQ can greatly change your business. As a business owner, you have to lead when it comes to possessing and fostering emotional intelligence in your team. Building your own EQ will allow you to communicate and work better with your team. It will also build trust between you and your employees, which can also improve performance.

When it comes to hiring employees, it is also important to seek out those with high emotional intelligence as hiring individuals with high emotional intelligence aids in communication, promotes teamwork, and problem-solving between individuals. It can also foster great customer relationships as they connect with customers.

The importance of EQ has risen so much that even universities are being called upon to include it in their curriculum.

Consider this: 60% of the larger global companies have EQ/ EI in their employment prescreening tests and processes and 71% of hiring managers say they value high EQ over high IQ.  

This is because they want people who are better at staying calm under pressure, listening as often or more often than they speak, and leading by example - just to name a few skills. 

Lead your business well and hire outstanding employees by making emotional intelligence a priority in your business, starting with yourself. If you want to learn more about building EQ in your team, consider scheduling a Business Strategy Session to talk to a business coach. The first session is free.