Advantages of Emotional Intelligence in Business World
It’s not a secret that emotions are a huge part of human life, also when it comes to working. Studies have shown that people are the most productive when they feel positive emotions like being appreciated and as if they are developing themselves. At the same time, their performance is worse when they are feeling negative emotions like worry, frustration, or stress.
When it comes to emotions in the business world, it is important to have the so-called emotional intelligence. Sounds weird, right? It’s because we are used to perceiving emotions and intelligence as two separate things that do not work together. But if this was the case, we wouldn’t have the term “emotional intelligence”, don’t you think?
You may ask – okay, but what is this? Well, according to the dictionary, it can be understood as “the capacity to be aware of, control, and express one’s emotions, and to handle interpersonal relationships judiciously and empathetically”.
Emotional intelligence is especially needed in leadership, that’s why several courses teach you how to improve it, like the one on swinburne.edu.au. But that’s for later. Now, let’s start from the beginning.
IQ vs EQ
You already know what’s the definition of emotional intelligence. But apart from knowing the description, it’s important to understand how it differs as we know it. Intelligence level is usually based on the IQ (Intelligence Quotient) test score, while emotional intelligence is based on EQ (Emotional Quotient).
The main difference between those two is that you can develop your EQ, but you cannot develop your IQ. Many people believe that a person with a high IQ is destined to be successful in life, but researchers have a different opinion about it. They state that a person with a high IQ will do better in school, but it’s a person with a high EQ that is more successful in life and career.
High EQ level usually occurs in people who are leaders, managers, captains, or people with social challenges. On the contrary, high IQ identifies people with common sense, mental challenges, high intelligence, etc.
To put it shortly, IQ determines your capacities, while EQ determines your relations with people and your behavior under pressure. You cannot change your IQ, but you can always improve how you handle emotions.
Why Do You Need It in Business
In today’s world, for a workplace to be successful, it has to have good communication between team members, teamwork, and mutual respect for one another between all the employees and employer(s). People who learned that the best way to success in managing people is intimidation might find it challenging to adapt to today’s reality. If your aim is being successful in the business world, you need to be aware of and understand the importance of emotional intelligence.
Emotional intelligence is the most important in positions like the manager, group leader, etc. A good manager with high EQ understands that communication and showing respect toward all the workers, even if they occupy lower positions, is crucial. A manager that understands his/her own emotions has a better chance of understanding the situation of other people and feelings that have an impact on their behavior or attitude. They are also better listeners.
Since the baby boomer generation is slowly retiring, employees will have a hard time finding people to work, and holding on to good employees will be even more important. Competition for the best employees will be even stiffer than it is now. If you want to keep employees, you have to have a good manager that will be able to communicate with other employees. Otherwise, a good worker who doesn’t feel appreciated will go somewhere else to look for employment and will have no problem with that.
Emotional intelligence is the key to being a good manager, and a good manager who creates a pleasing atmosphere at work will result in employees wanting to stay and being productive.
How to Improve Your Emotional Intelligence
Since you already know how important it is to fold emotional intelligence in the business world, you might be wondering how you can develop it? There are several ways to do that.
The first thing is to stop before saying anything – that will ensure that you will not say anything you will regret later, just because you were emotional and have to process what you want to say. Try to listen to others more – it will help you in a better understanding of others’ emotions and needs. Talk about your feelings – if you feel as if someone has offended you, or said something that has upset you, don’t bottle your feelings inside, talk about them with the other party.
These are just a few of the things you can do – just do your research on the internet, as it is full of them.
In conclusion, emotional intelligence is something that we acquire during our life, and it can be developed at any point. If you hold emotional intelligence, you have a bigger chance at success, then people who have a high IQ. This ability is especially important when it comes to the business world, but you should already know it after reading this article.