Could Emotional Intelligence Be More Valuable Than An MBA?
It is very clear to me that organisations wanting to compete effectively in today’s marketplace need to attract, train and retain the most emotionally intelligent workforce possible.
Research among Fortune 500 companies, conducted by Stanford University, showed that 90% of those who failed as leaders did so because they lacked the interpersonal skills that are a critical component of emotional intelligence (EQ).
To go to the next level in business it is imperative that we create a cultural blend of technical intellect and the invaluable competencies of social and emotional intelligence. It is primarily EQ that will solve our talent retention and engagement problems, improve our mental health issues by reducing stress and conflict.
So what is this magic elixir known as emotional intelligence?
It is the ability to be aware of your own emotions, and the emotions of others, in the moment and to use that information to manage yourself and manage your relationships. There are 4 main areas we need to develop:
- Self Awareness
- Self Management
- Social Awareness
- Relationship Management
Within these areas we find 26 competencies that can be learned and developed such as Behavioural Self Control, Empathy, Situational Awareness, Stress Management, Communication, Building Trust and Resilience.
Warren Bennis in his book “On Becoming a Leader” says “Emotional Intelligence is much more powerful than IQ in determining who emerges as a leader. IQ is a threshold competence. You need it but it doesn’t make you a star. Emotional Intelligence can”.
