The power of Emotional Intelligence in the workplace
January 30, 2023
Emotional intelligence in the workplace is becoming an increasingly important topic for leaders to consider. Emotional intelligence, or EI, is the ability to understand and manage one's own emotions and the emotions of others.
It is a relatively new concept that was first introduced in 1990 by professors Peter Salovey and John Mayer. In 1995, the concept gained widespread recognition with the publication of Daniel Goleman's book "Emotional Intelligence."
The traditional way of thinking in the workplace was that an employee's IQ was the most important factor in determining success. However, organizations are now realizing that it takes more than a high IQ for someone to be an excellent worker. Emotional intelligence may play a more critical role in success than IQ. In a recent survey, more than 40 percent of leaders stated that emotional intelligence would be a "must-have" ability within the next three years.
Research has shown that emotional intelligence is four times better at predicting a person's success than measuring IQ. EQ is responsible for 58% of workplace success, regardless of job type. It is the single strongest predictor of performance, and it serves as the foundation for a variety of other critical skills like communication.
There is also a direct correlation between high performance in the workplace and EI. 90% of top performers score high on emotional intelligence; whereas just 20% of low performers score high on emotional intelligence. What do these stats suggest? The more emotionally intelligent you are, the more likely you will be a top performer.
Emotional Intelligence contributes to how people handle their professional relationships. An office with even one person with low EI management may suffer from an increase in workplace conflict, decreased performance, and high turnover. On the other hand, teams with highly emotionally intelligent people will perform better, have increased job satisfaction, and experience better employee retention rates.