Emotional Intelligence (EI) is a set of abilities that can help individuals understand, control, and assess emotions.
Compare the differences
- The IQ test is a standard way to measure your level of intelligence.
- EQ measures emotional intelligence
Emotional intelligence is more valuable than IQ.
This is not to say that IQ is not significant. It is the best predictor of what one can achieve. (If you’re interested in becoming a scientist, lawyer, or doctor, then you need a high-IQ).
But success is much more than a good grade on an exam.
The main reason IQ does not predict success in the workplace is that everyone is as smart as yourself.
When emotional intelligence makes a difference.
What is measured can also impact IQ’s ability to predict success at work.
According to the Harvard Business Review, IQ tests have their shortcomings. Some skills, such as vocabulary and spatial thinking, are not applicable for the workplace.
The idea of emotional intelligence didn’t become popular until a few after Salovey and Mayer’s work, when psychologist Daniel Goleman wrote his book Emotional Intelligence. The book became a bestseller and the term “emotional Intelligence” gained in popularity.
Goleman’s Five Part Model
Daniel Goleman has described the five components that make up emotional intelligence. Each component requires a unique ability in managing your feelings.
1. Self-Awareness
You must be able to control and monitor your emotions. This skills is highly helpful when trying to communicate effectively at work, making sure that the message you intend to give is well received by employees and colleagues.
2. Self-Regulation
It is our ability to stop and think before we take action. You should also try to change or control negative thoughts that may affect your emotions.
To be able to self-regulate, you must be comfortable with ambiguity and change.
This is an important skill to have when building relationships. It is the glue between trust and respect that forms when connecting with your employees. If you remain calm and composed in stressful or emotional situations, your employees will feel more confident.
3. Internal Motivation
This part involves setting positive goals and working toward them.
This is our intrinsic motivation that we talk so much about at Officevibe.
4. Empathy
This section explains the importance of recognizing and responding to others’ feelings.
Empathy can be applied to many different situations. One of which is handling performance issues as empathy helps you turn these into opportunities to build stronger bonds within your group.
5. Social skills
The final part, is about the social skills that people use day-to-day, like collaboration, conflict management, and relationship building.The key to improving this is to find common ground with the people you’re working with.
Research on emotional intelligence
Many studies have shown how important emotional intelligence is for success in the workplace and life.
Psychologist Cary Cherniss published a paper called “The Business Case for Emotional Intelligence” where he used data from other researchers to build a case for how emotional intelligence contributes to the bottom line in any work organization.
Highlights of the Paper
- Sales agents with high emotional intelligence outsold those who did not. They sold $91,370 extra than other salespeople. They also had a turnover of 63% less in their first year compared to the salespeople selected using the traditional method.
- The Center for Creative Leadership found that executive issues were primarily caused by emotional competence deficits. Three of the main issues are failure to handle changes, poor teamwork, or poor interpersonal relationships.
- The study of more than 130 senior executives revealed how people’s emotions can affect the way they are treated by others.
- 90% of the sales reps hired by a computer firm based on emotional competency completed their training compared to those hired using other criteria
- The 515 senior executives who were analyzed revealed that those with higher emotional intelligence performed better compared to those with best relevant experience and IQ.
- Insurance agents from a national company who had low emotional competencies, such as self confidence, initiative and empathy, sold policies in the average amount of $54,000. Those who scored well in at least five out of eight emotional competency areas sold policies worth an average of $114,000
Carnegie Institute of Technology discovered that 85% of the financial success you achieve can be attributed your “human-engineering” abilities, personality and your ability in negotiation, communication and leadership. The remaining 15% is based on your technical knowledge.
The psychologist Daniel Kahneman found out that people will choose to do business with someone who they know and trust, even if it is a higher-quality product at a lower cost.
Emotionally intelligent people have qualities
Leaders with emotional intelligence possess certain characteristics.
Compassion
Leaders with high emotional intelligence are compassionate.
They are always willing to help their staff in whatever way they can, whether it is at work or out of the office.
People is more important to them than profit.
Authenticity
Leaders who are authentic and emotional intelligent are real.
They can communicate well with their team. They are emotional.
Respectfully
Leaders respect their team as well as themselves. All feel this self-respect. They are aware of this and treat everyone the same.
Confident
Leaders are able to strike the right balance between confidence & arrogance.
Great leaders make decisions confidently and without second-guessing.
The most important difference between IQ & EQ is the fact that EQ can also be developed.
Through training and experience, you can improve your EQ and become a better leader.
How to improve emotional intelligence
Self-awareness is a great way to improve your emotional intelligence. Once you become aware of your emotions, you can use self talk techniques to change them.
As you progress in your career, your emotional intelligence will improve.
Here are some simple ideas to improve your emotional intelligence.
1. Negative to Positive
You must replace negative thinking with positive thinking. Ask yourself: “How can it be done better next time?” Instead of saying: “I’m an idiot”, ask yourself: How can I do it more effectively?
Over time you will learn how to deal with negative emotions.
2. Stress management: what are the options?
Stress is inevitable. Stress is inevitable.
Exercise is a great way to reduce stress. Exercise is a great way to reduce stress.
3. Have a good role model
Find someone to emulate and observe how they manage their emotions.
You can learn a great deal by watching their reactions to certain situations and how they interact with co-workers. You can also seek advice or assistance.
4. Keep a journal
Being aware can increase self-awareness. Note how you feel throughout the day. Write down your feelings.
Then go back to the notes. See where you could improve and what interests your most.
Connect with coworkers
You can improve your social abilities only by practicing. Try going out to events with coworkers such as lunches and dinners, and introduce yourself.
You will learn how to improve your eye contact, and speak clearly.