Emotional intelligence (EI) has become quite the buzzword these days, but what does it really mean and can it really make you better at business? According to the Institute for Health and Human Potential, EI is defined as the ability to “recognize, understand and manage our own emotions and; recognize, understand and influence the emotions of others.”
People with a high emotional quotient (EQ) are better able to build relationships, manage and defuse conflict and reduce stress (theirs and that of those around them). It makes sense then that people with a high EQ are more likely to get hired and be more successful in their careers.
People with a high degree of EI are also more effective leaders — and EI is more impactful than having even the best training or a high IQ. A high EQ is equated with a strong ability to grow both personally and professionally, make good decisions, and be a good communicator. Why?
We’ll look at the main benefits of emotional intelligence and how it can impact your success in business.
Perhaps the most obvious trait of an emotionally intelligent person is self-awareness, or the ability to recognize one’s own strengths, weaknesses, emotions, and motivations. Self-awareness goes a step further in that not only can a person recognize those things about themself, but they have a deep understanding of how those factors may affect their thoughts and behavior.
People who can label and understand their thoughts and emotions are better able to take appropriate actions rather than behave in a less than ideal way.
Everybody’s human, which means that everyone has bad days. We all experience negative emotions or bad moods, but people with a high EQ are better equipped to manage those emotions rather than be controlled by them.
In many cases, this means having the ability to pause and delay action in high-stress or conflict-prone scenarios. This space allows a person to react with a clear head instead of falling pretty to impulses, which can have negative consequences both personally and professionally.
Empathy is a key trait of successful people because it allows them to consider the feelings, perspectives, and concerns of others. It’s a characteristic that can make or break negotiations with colleagues, stakeholders, and customers.
Being able to anticipate the reactions of others can go a long way when it comes to teamwork. Many HR leaders aim to hire managers that have a high EQ because they are usually successful in bringing people together to creatively solve problems and innovate.
The ability to build and maintain relationships is critical in both the personal and professional arenas. Relationship management entails building trust, credibility, and respect from those around you. Those who excel at building and maintaining relationships can not only get along well with others but also inspire and lead team members toward increased productivity.
Arrow Payments is deeply invested in and committed to emotional intelligence. While we are seasoned payments experts, we also participate in training from the Junto Institute to ensure that we are providing a healthy team culture internally and a well-rounded support system for our clients. For more information about working with us, contact us today.