Why now is the time to develop emotional intelligence
The ‘soft’ or non-technical side of business can be notoriously hard to measure. While everyone is aware of the importance of ‘social skills’ or ’emotional intelligence’ as we like to call it, few companies have a discipline in place to manage it.
This is usually because companies are unaware of the huge impact emotional intelligence – or the lack of it – has on their earnings and efficiency. Consider the following:
♦ In a six year study conducted by The Forum Corporation on Manufacturing and Service companies, it was discovered that the reason for losing customers and clients are 70% EI related (the customer didn’t like that company’s customer service)
♦ UK’s Whitbread Group found that restaurants with high EQ managers had higher guest satisfaction, lower turnover, and 34% greater profit growth
♦ The Deming Center for Quality Management found that 50% of time wasted in business is due to a lack of trust – a figure probably higher in Asian organisations
♦ In jobs of medium complexity, a top-performer is 12x more productive than those at the bottom. An extensive Daniel Goleman study discovered that the difference was 1/3 due to cognitive intelligence (IQ) and 2/3 due to emotional intelligence…
…All of which leads us to the question: why do more companies not invest in training their people in EI?
Let’s recap the benefits: Increased customer retention, higher profitability, The Deming Institute (famed for the ‘hard’ skill of processes) telling companies to focus on EI not IQ in order to drive higher productivity – all traits that companies need to invest in if, in times of a downturn, they would like to:
- Keep their customers
- Save money
- Cut out waste
The solution is at hand!
As we described in an earlier post, training your key personnel including managers, customer-facing executives and salespeople as well as backstage support teams in emotional intelligence is not a ‘nice-to-have’ but, as we can see, a business imperative leading directly to results.
Most importantly, Emotional Intelligence can be learned and enhanced!
Emotional Intelligence is a one-day programme offered by Talent Technologies which helps you do just that. On the programme, participants discover their own Emotional Quotient using the globally-recognised EQSi and:
√ The seven skills of Identity, Motivation, Emotional awareness, Communication, Stress tolerance, Conflict resolution and Positive Mood
√ How to apply these both inside the organisation (as part of teams) and outside of it (with clients and customers)
√ How to use EI to develop direct reports and manage difficult situations (including video case studies)
If you would like to find out more about Emotional Intelligence, then feel free to ask for more details here or call our office on +662 6393550