(Newswire.net — October 4, 2013) Kingston-upon-Thames, Surrey —
Emotional intelligence is an indispensable set of social and emotional competencies for leveraging knowledge and emotions to drive positive change and business success. Emotional intelligence is a vital part of what makes people effective in life. Whether in the workplace, at school, or in our personal lives, research shows that those who understand and manage emotions well tend to be more successful.
Emotional intelligence 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, Working with Emotional Intelligence
To reach your full potential, you need to build your emotional intelligence. There is now a significant body of research showing that emotional intelligence is linked to successful performance in the workplace. For example, a famous study of insurance sales people at Metropolitan Life showed that employees high in the emotional competency of Optimism sold 37% more policies in their first two years.
Those in the very top tier by optimism sold a staggering 88% more than the most pessimistic. Similarly, a study with the US Air Force found that recruiters scoring high in emotional skills like Empathy, Self-Knowing, and Straightforwardness were significantly more effective. By selecting recruiters based on emotional intelligence, they boosted success rates 3-fold and saved over $3 million p.a.
Employees with high emotional intelligence are more resilient because they are able to understand the causes of stress and develop strategies and perseverance to deal with the negative consequences of stress (Cooper & Sawaf, 1997). On the other hand, employees with low emotional intelligence are likely to be less aware of their emotions and possess fewer abilities to cope with their emotions when faced with difficult situations, thereby, exacerbating their level of stress and decreasing their level of job satisfaction.
Employees with high emotional intelligence are likely to experience high levels of job satisfaction because they can utilize their ability to appraise and manage emotions in others. This skill becomes significant in within teams, where employees with high emotional intelligence can use their skills to foster positive interactions that help boost their own morale, as well as the morale of the team, and contribute positively to the experience of job satisfaction for all.
RocheMartin’s own research with a group of high performers from Leadership Victoria reported that the group rated significantly higher than the general population on emotional intelligence, in particular on the competencies of Self-Confidence, Self-Reliance, Optimism, Self-Actualization, and Straightforwardness.
Building emotional intelligence is the key to being an effective leader. A leader, inspire or demotivate others first by how effectively the leader manage his or her own emotional energy, and second by how well the leader mobilize, focus and renew the collective energy of teams.
The number one reason why people stay or leave an organization is based on the quality of the relationship with their immediate supervisor. Research by Gallup shows that leaders with low emotional intellience tend to have higher turnover, lower engagement, and lower productivity in their teams.
Three compellingreasons why leaders need to build emotional capital:
1. Emotional capital is valuable because it creates strong relationships that enable people to achieve effective collective outcomes. The key factors driving job satisfaction are relationships with managers, company culture, advancement opportunities, and opportunities to work with others.
2. Attracting and retaining talented people is the most important strategic issue for every company. To attract the most talented people, companies and organizations must focus on building exceptional workplace cultures where people show an understanding of their customers and empathy that allows innovation and change.
3. Awareness of emotional and mental health of workforce is crucial. November 20, 2012 Business Matters, UK’s leading SME business magazine states that Stress costs UK economy £3.7 billion. In 2012, 55 per cent of people surveyed by Business matters felt that their employment had an adverse effect on their mental well-being and day to day life. More than half admitted that they found it hard to ‘switch off’ after a day’s work, and 34 per cent of those questioned suffered feelings of lack of control over, or an inability to cope with, the stress caused by their working life.
The HSE Labour Force Survey 2010/11 found that 10.8 million working days were lost due to stress, anxiety or depression, and the average number of days lost during each absence was 27. It is not just absence which hits business. Figures from the Centre for Mental Health show that most people suffering with stress continue to work, but may struggle with concentration and effective decision-making. It is estimated that this costs UK businesses £15.1 billion per year in reduced productivity.
Available research suggest that Leaders with high emotional intelligence produce positive work attitudes and altruistic behaviours and employees enjoy higher job satisfaction and performance in such environments. Leaders with high emotional intelligence can facilitate the performance of their employees by managing employees’ emotions. In so doing the managers gives attention to emotions that foster more creativity, resilience, and confidence that impact on employees’ actions.