Let’s start at the beginning with a definition of Emotional Intelligence (EQ) from Dr Travis Bradberry, Author of Emotional Intelligence 2.0, he describes it as…
“Your ability to recognise and understand emotions in yourself and others, and your ability to use this awareness to manage your behaviour and relationships.”
EQ is a skill that is increasingly sought after in the workplace, and it is of growing importance to business owners when hiring. TalentSmart is the world’s #1 provider of Emotional Intelligence (EQ) tests and training. With more than 75% of Fortune 500 companies currently relying on their services, they have tested the EQ of over 1 million people and concluded that it explains 58 percent of success in all types of jobs.
It’s not surprising that the World Economic Forum’s Future of Jobs Report, states that EQ will be one of the top 10 job skills in 2020. To survive in the workplace of the future, it’s of vital importance to your business that you recognise and develop these qualities in yourself and others.
Major advances in AI and machine learning mean that ever more companies are using algorithms and advanced software to carry out important functions for their business.
For example, Expedia which has provided online travel booking for 20 years, uses machine learning algorithms to improve recommendations for customers. According to Matthew Fryer, Chief Data Science Officer at Expedia,
“Fundamentally AI is the core of why we exist: to find the right flight, holiday, experience for you. By far one of the biggest use cases on our site is mining search and user journeys to find the perfect product for you.”
It’s not game, set and match to the bots quite yet so don’t let this pending ‘robot revolution’ scare you. Just be aware that the traits of the emotionally intelligent will continue to increase in value and be desirable for your business. So while the Bots get on with helping us all with our admin, you can get on with the more creative aspects of your work and enjoy focusing on building better business relationships.
And that’s the essence behind Futrli. It’s software that does the heavy lifting of getting on top of your financials for you, so you can focus on the areas of your business that you enjoy most to drive it forward.
Do you have EQ? Answer these 5 quick questions to find out
Q1: Can you handle criticism without denial, blame, excuses or anxiety?
People with high EQ tend to be less defensive and more open to feedback, particularly when it relates to areas of improvement. Those with EQ are open to self-analysis to improve shortcomings and self-confident enough not to take it personally.
They are also better at handling pressure and stress as their strong self-awareness allows them to catch it rising within them and to do something about it before it becomes too detrimental. These qualities massively enhance a person’s potential of developing within your business and reaching and maintaining the levels you require from them.
Q2: Are you a good listener?
Perhaps, most importantly, is the emotionally intelligent’s ability to empathise with others. This requires good listening skills that enhance one’s ability to pick up on people’s emotions, through vocal cues and body language. It’s a massive advantage when building rapport with your fellow team members and clients alike.
Because of this ability to empathise and see things more clearly from another point of view, people with high EQ are better able to judge how their decisions will affect others and better manage relationships. This is a big asset for your business in an ever-expanding global marketplace.
Q3: Are you open-minded?
Mark Murphy is the NY Times bestselling author of Hiring For Attitude, he believes that due to a high level of self-awareness, high EQ people are happy to listen to a situation in its entirety without jumping to conclusions.
They are willing to hear ideas that differ to their own and make judgements based on the merits of the argument, detached from distractions such as status. When there is a problem, and you want a second opinion based on an honest and fair appraisal of a situation, this is the kind of valuable go-to-guy you need in your business.
Q4: Are you fearless about speaking the truth?
Emotional intelligence involves identifying emotion in other people, however, this doesn’t mean shying away from telling the truth because you know it will upset someone or that person is expressing signs of vulnerability. If you have high EQ you understand that tough messages need to be heard. The major difference is that a high EQ person can deliver them in a way that is clear, fair and respectful.
Q5: Are you willing to say sorry when you’re wrong?
You know how precious your time is, so why waste any of it trying to defend an incorrect position? People with high emotional intelligence don’t like to waste energy looking for excuses, instead, they’d rather give a simple and honest apology and move on. And this is the crux of it for your business, building a team with high EQ lends itself to a happier workplace that functions more efficiently.
These questions are just a quick test, but answering them positively is a good indicator that you have a highly developed EQ. As a manager or CEO, it’s a useful exercise to use these questions and descriptions to help you identify those in your workforce who show signs of high emotional intelligence.
If you can develop your analysis and recognition of EQ in others in this way, it will help you to choose the right people for the right roles within your organisation, as well as improve your instincts when hiring new staff to face challenges of the future.