A quick Emotional Intelligence (EQ) recap

In the first article of this two-part series, we explored the concept of EQ, as opposed to IQ, and its application in both personal and professional settings, particularly as it applies to business and leadership. Also explored, was the concept of emotional hijacking including tips for how it can be mediated. If you haven’t read the first article in the series, we recommend you do that before continuing with this article, so you have an understanding of the foundations of EQ.

Importance of EQ in business

While most people will cite IQ as essential for success in business, studies suggest that only 20% of success can be attributed to IQ while 80% is influenced by EQ. This is due to the fact that, unlike IQ, which is a measurement of intelligence, your EQ will affect your ability to successfully communicate, collaborate, and perform at individual, team, and organizational levels. For example, salespeople with a high EQ can detect unspoken customer concerns and build trust, which is especially important in sensitive industries like life insurance.

At the team level, EQ can lead to more positive and innovative outcomes by:

• Fostering a positive culture
• Encouraging empathy and open communication
• Allowing for conflict resolution and higher motivation
• Encouraging risk-taking and idea sharing

Impact of external factors on EQ

External factors such as the business environment, culture, and technology can influence emotions and behaviours in business. Toxic environments and technology overload (e.g., excessive emails and notifications) can undermine emotional well-being and lower your EQ, in turn leading to impulsive reactions, defensive behaviour, and reduced engagement.

Developing your EQ

According to the work done by Psychologist and author Daniel Goleman, there are four key components to developing your EQ.[1] Working on these can help drive success in both business and personal relationships.

1. Self-awareness: recognizing your emotions and their impact on others
2. Self-regulation: involves emotional control, impulse management, adaptability, achievement orientation, and maintaining a positive outlook
3. Empathy: learning to understand the feeling and perspective of others
4. Social skills: involves organizational awareness, influence, coaching, mentoring, and conflict management

Learn more about Daniel Goleman’s work and these four components of EQ.

Making the most of your EQ

Developing your EQ not only will enhance personal growth but can also lead to success in business and more effective leadership. For further insights into emotional intelligence, listen to our two-part podcast series, Unlocking emotional intelligence and Building emotional intelligence for leadership, sales and success available at ivari.ca/podcast or wherever you get your podcasts.

[1] Emotional Intelligence: Why It Can Matter More Than IQ, Daniel Goleman