When the topic of emotional intelligence comes up in conversations with people in Dubai business, it quickly becomes clear that many people are still unclear as to what it actually is! There is a fair amount of confusion around it, how can it be quantified and how to actually develop it.
It might be easier to highlight what a lack of emotional intelligence looks like. I am sure we have all, at one time or another, come across those bosses and managers who seem distracted, make decisions without taking into account how they affect other people and without clear communication, lose the plot if things aren’t done the right way, and create an atmosphere of trepidation and anxiety around them.
It is not difficult to see that a workplace characterised by this type of environment is going to struggle with morale, motivation and job satisfaction. The result of this directly affects financial performance – manifested as absenteeism, lack of co-operation with fellow workers and a lack of discretionary effort on behalf of employees, meaning that company goals are not met. That is what an absence of emotional intelligence looks like and how it affects work environments.
In a piece of research done by the Conference Board of New York in 2009, the findings indicated that how people perform at work is directly affected by how they feel about their work – and primarily how they feel about their relationship with their boss and their co-workers. This report is quoted in a book by Mark C Crowley, entitled ‘Lead from the Heart’. Mark Crowley decided to map the results of Fortunes Magazine’s’ ‘Best Places to Work’ onto the financial performance of those companies and, guess what, he discovered that the companies where people are happy outperform peer firms financially by 4%, which in real terms is a staggering amount, considering that high performing hedge funds that beat the street by just 2% are considered superstars. (P33 Lead from the Heart, M. Crowley 2011 Balboa Press).
In another study conducted by PepsiCo, they found that leaders who scored high in emotionally intelligent behaviours outperformed their peers, delivering a 10% increase in productivity, an 87% decrease in executive turnover, $3.75m added economic value and over 1000% return on investment.
Daniel Goleman, the leading author and though leader on emotional intelligence, identified five main behaviours of the emotionally intelligent person. My descriptions below are deliberately simplified.
With such great outcomes evidenced, it’s clear that it’s an area worth understanding and growing it within your business.
If you are interested in becoming more emotionally intelligent, ISM Training run regular high quality training for this in Dubai. To check when the next course is visit www.ismdubai.com