Business and society in general, has finally realized and is accepting the fact, that our EQ (Emotional Quotient) is valuable, and even more important in certain situations than IQ (Intelligent Quotient). Traditionally IQ or technical ability has been identified as the most, and in some cases the only factor required to achieve business success. That mindset has often resulted in lost business and damaged relationships because the “soft” side of securing and maintaining business was ignored. Current research is revealing that emotional competence is twice as important as purely cognitive abilities in building trust and creating powerful work teams. In some situations, emotional competence is the deciding factor for selecting or rejecting a person, team or company. Emotional competence is often the crucial factor between success and failure in interviews, client meetings and team effectiveness.
Researcher and Author Daniel Goleman has identified 25 emotional competencies which fall under five key areas:
1. Self-Awareness: Awareness of personal states, preferences, resources and self-confidence
2. Self-Regulation: Managing personal states, impulses and resources
3. Motivation: Emotional tendencies that enable or limit achievement
4. Empathy: Awareness of others’ feelings, needs and concerns to build bonds and relationships
5. Social Skills: Ability to create safe and positive setting to achieve desirable responses from others
Goleman states ”It is estimated that up to 90 percent of success in securing work and building strong, profitable relationships is attributable to emotional intelligence. Companies in which people collaborate effectively with internal and external stakeholders have a competitive edge.
My own experience in training and leadership coaching supports Goleman’s position. I am seeing organizations and especially men from the Boomer generation, admitting “that there is something to this emotional/soft stuff”. Let’s strive to find a balance between IQ and EQ in our companies and teams to ensure that we build organizations that function effectively at the technical and relational realm.
For more information and an explanation of Emotional Intelligence watch: Daniel Goleman Explains Emotional Intelligence