Emotional intelligence can be a key to success as well as all aspects of business, from management to sales, marketing and customer service.
Emotions play a key role in day-to-day life – they affect everything from your personal relationships to your business decisions. That’s why understanding them can help you – and your company – get ahead.
Emotional intelligence is the ability to understand and interpret emotions – both in yourself and in other people.
People with well-developed emotional intelligence are able to understand what effect these emotions have on the world around them in terms of behavior. They are also able to control their own emotions and to recognize and influence the emotions of others.
These skills are of huge benefit in the world of business, where emotions can influence everything from day-to-day decisions to the content of your business emails.
Emotional intelligence is measured using the Emotional Quotient (EQ), which it refers to someone’s awareness of their emotional intelligence and their ability to adapt and improve it. Tests are available online to draw your emotional profile and provide a better understanding of your emotional intelligence.
How is Emotional Intelligence determined?
Emotional intelligence can be loosely defined by four specific areas that all relate back to emotions. They are:
- self awareness and self management (personal competences)
- social awareness and relationship management (social competences)
Improving your performance across these core elements can help you to add value to your business and business performance. Understanding and nurturing your emotional intelligence can therefore be a key to success.
For example, having empathy with an employee and understanding their emotions can create better outcomes when it comes to managing the employee and their skill set. In this way, emotional intelligence can be key to leadership success. Likewise, being about to interpret a customer’s response to your product or service can help you to improve your customer experience in the future.
Why emotional intelligence matters in business
Emotional intelligence affects us in many ways: in our daily lives, as well as in all aspects of business, from management to sales, marketing and customer service.
People with a high emotional intelligence are able to use their emotions to inform their decision making. They can adjust the way they feel and the way they behave depending on the situation, and regulate how they respond to the emotions of other people. This has obvious advantages when it comes to managing a difficult employee or handling a customer or business to business complaint.
Emotional intelligence predicts performance – for example, it’s possible to boost your marketing outcomes using emotional intelligence.
Research from the Carnegie Institute of Technology showed that as much as 85% of our success comes from emotional intelligence and personal skills, yet these skills are ignored 90% of the time. Just 15% of success comes from “technical ability”.
In some ways, emotional intelligence is the emotional equivalent of the intelligence quotient (IQ), which is an academic number determined by a standardized test. Increasingly in business, emotional intelligence is viewed as being as important as IQ, which doesn’t provide an insight into leadership skills or management ability, or into people skills.
Business leaders now regard emotional intelligence skills such as people management, vision and networking to be as important as traditional business skills like market understanding, financial know-how or logistical skills.
That’s why well-developed emotional intelligence can have positive outcomes in terms of the way we manage people (or the way we lead), the way we make decisions and how we react to situations under pressure.
Studies suggest that as many as 90% of top business performers are high in emotional intelligence. Conversely, only 20% of the bottom performers are high in emotional intelligence.
Improving emotional intelligence
If your emotional intelligence isn’t as high as you’d like, it’s possible to develop it through training. It can take just a few hours to improve your self awareness and boost your emotional intelligence and understanding.
Daniel Goleman, the psychologist and author of a breakthrough book on emotional intelligence, says it’s possible to improve overall emotional intelligence with five smaller improvements:
Try to improve your:
- Self-awareness: Being aware of your own emotions and feelings (and those of others) is the first step towards improved emotional intelligence.
- Self-regulation: Being able to regulate your response to emotions or difficult situations can lead to better decision making and more effective management of difficult people/situations.
- Motivation: Being motivated drives success and pushes your boundaries towards new challenges and goals. This same motivation can drive better business outcomes.
- Ability to show empathy: Demonstrating an ability to understand the emotions of others (and the best way to respond) can lead to better people management outcomes. It can also result in a higher degree of respect from others around you and better overall professionalism.
- Social skills: Good social skills equals good people management, and a good ability to network and build relationships
How Emolytics can help you pinpoint emotional intelligence
Developing emotional intelligence is not always easy, but it can be done with training and guidance.
IQ measures your ability to learn and analyze – and to a certain point, you either have this or you don’t; emotional intelligence is much more flexible – and it’s possible to improve it.
However you can’t improve your emotional intelligence unless you can identify areas for improvement and understand what your current or usual emotional responses to situations are.
The body’s internal signaling system means that our emotional responses work faster than the rational part of our brain. To improve your emotional intelligence, you need to manage or manipulate this response so that your rational and emotional sides are more in tune. This means improving the signaling between the different areas of the brain. Repetition – training your brain – can be key to improving emotional intelligence.
When building your emotional intelligence it’s important to be able to maintain a focus on business and how your emotions relate to the various aspects of your business performance. Emolytics offers a tool that can improve the emotional intelligence of you and your employees.
For example, using an email surveys through Emolytics can provide you, it’s possible for you, your employees and your customers with the opportunity to provide relevant and accurate feedback about emotions and how they affect your business.
At Emolytics we focus on emotions and on customers – we don’t just work on supposition; we don’t just ask how someone feels but “why” they feel like that.
The Emoscore from Emolytics can bring an emotional quality to all the other questions and KPIs studied, providing quality HR or customer feedback.
If you or your company doesn’t have high emotional intelligence, the first step to improving it is to listen to your customers and key stakeholders.
Start making the most of emotional intelligence
Improving your emotional intelligence could provide you with the edge you’re your customers.
Why not contact Emolytics to find out how you can take full advantage of your emotional intelligence? Get in touch for a free consultation with our digital experts today.
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