Emotional Intelligence at Workplace : Need of an Hour

 

 EMOTIONAL INTELLIGENCE AT WORKPLACE: NEED OF AN HOUR

Certainly the past Covid period taught the whole world big lessons of life that how uncertain and difficult a life can be. Covid period was really harsh on us; many lost their lives, many lost their job and gone through unbelievable pain in different aspects. It was the time which registered several cases gone through mental distress and anxiety due to varied reasons. Only those who were having emotional stability managed the time well else were really found it difficult to face the time efficiently. Here comes the importance of emotional intelligence (EI). EI is defined as the capacity to recognize and effectively manage personal emotions in ourselves and in others. Many researches has proven that a strong propensity in emotional intelligence increases one’s ability to make sound decisions, build and sustain collaborative relationships, deal effectively with stress, and cope to a greater degree with constant change. To wit, it enables an individual not only to perform well in the workplace, but also in accomplishing various other goals and objectives in his or her life.

Emotional intelligence in the workplace begins from the inside out with each individual. It involves recognizing various aspects of your feelings and emotions and taking the time to work on the elements of self-awareness, self-regulation, motivation, empathy and social skills. EI is also essential to conflict management in the workplace, which involves having the ability to help others through tense situations, tactfully bringing disagreements into the open and defining solutions that everyone can endorse. Leaders who take time to understand different perspectives work toward establishing a middle ground in disagreements. By paying attention to how others respond to one another, you can try to help people feel heard, which in turn, will help them be more willing to compromise.

EQ vs IQ

Is the emotional quotient more important than the intellectual quotient? This is a common question asked in regard to emotional intelligence. Many people tend to dismiss EQ as being less important, but both aspects are, in fact, extremely important. Whilst IQ is a strong indicator of your capabilities and potential, EQ has a huge influence on success in many areas.

High levels of EQ have been proven to correlate with high levels of career success, satisfaction, and relationship success. That being said, IQ still remains an important factor and has also been linked to similar outcomes. Having a high EQ can be the difference-maker when it comes to securing a job or promotion, especially if your competitors share similar IQ levels to yourself.

Statistical Facts on Emotional Intelligence

     Only about 36% of people in the world are emotionally Intelligent.

     Only 42% of companies provide specific training to help employees cultivate emotional intelligence.

     95% of surveyed HR managers and 99% of employees believe that emotional intelligence is a must-have skill for every staff member.

     Fewer than 20% of companies qualify as emotionally intelligent, as stated by Niagara Institute.

     42% of organizations worldwide implement training on emotional intelligence for senior management.

     Emotional intelligence accounts for nearly 90% of what sets high performers apart from peers with similar technical skills and knowledge.

     75% of managers use emotional intelligence to determine promotions and salary increases.

     Organizations that value and widely use emotional intelligence are 3.2x more effective at leadership development.

     Research conducted with Fortune 500 CEOs, found that 75% of long-term job success depends on people skills, while only 25% on technical knowledge.

     30% of HR managers think that employers don’t prioritize emotional intelligence enough during the hiring process.

     Only 30% of companies look for emotional intelligence during the hiring process.

     61% of employers are more likely to promote workers with high emotional intelligence over candidates with high IQ.

     64% of organizations spend only 10% or less of their training & development budget on leadership development.

     Employees who believe that their leaders treat them with respect are 55% more engaged, 63% more satisfied, and 58% more focused on their jobs.

     36% of executives think that emotional intelligence will become a must-have skill in a few years.

     After increasing every year since 2017, emotional intelligence dropped in 2020 at the onset of the pandemic