The Business Case for Emotional Intelligence

High Emotional Intelligence (EI) Translates to Big Bucks!!
In a previous newsletter about energy management, I mentioned the tool of Emotional Intelligence and how it relates to profitability as well as to our credibility as leaders. Emotional Intelligence is being aware of our own emotions and the emotions of others and using that awareness to manage ourselves and our relationships with others. So what? How does that relate to business productivity and profitability? You might even wonder how the words "emotional" and "intelligence" can even be used in the same sentence!

In 1983, Dr. Howard Gardner introduced his theory of multiple intelligences in his book called Frames of Mind. Two years later, Daniel Goldman, a science writer for the New York Times, published the wildly popular book, Emotional Intelligence, making it accessible to the world at large. Since then, there emerged scores of books, articles and researched statistics of the subject. As I mentioned in two previous newsletters, enlightened leaders in all industries are implementing EI programs because of the incredible bottom-line results for their companies, their teams and themselves.

The fact of the matter is that many prominent companies and organizations are incorporating EI training to improve performance in many areas. What has surfaced through the research of EI are marked increases in profitability, better retention of top performers, more successful recruitment and greater productivity. Consider these statistics:

« An international consulting firm decided to do EI assessments for all their executives. Those with the higher scores (above the median)delivered $1.2 million more profit from their accounts than did other partners, a 139% incremental gain.

« American Express Financial Services also introduced EI training to select groups. Those that received EI training increased their sales 20% over those that did not. Emotional sensitivity resulted in a 20% increase in sales!

« Those workers that have supervisors with high EI are four times less likely to leave than those with low EI scores.

« The U.S. Air Force decided to start using EI assessment instruments in their selection process for recruiters. The recruiters they brought in with high EI were 300% more successful than those with low EI. This saved the federal government $3 million in the first year of the program.

« L'Oreal Cosmetics is starting to select their sales agents with specific EI competencies. These agents outsell their counterparts by more than $90,000 per year, which resulted in a net revenue increase of about $2.5 million in the first year.

So we can clearly see that Emotional Intelligence awareness, assessments and training are not to be taken lightly. Remember, 80% of our success in life in due to our EQ, not our IQ. Thomas Edison, called a genius by many, said, "Genius is 10% inspiration and 90% perspiration!" He demonstrated again and again one of the most essential EI competencies, which is resilience.

Some of the other major EI competencies are emotional self awareness, personal power, emotional self-control, integrity, initiative and bias for action, achievement/drive, intentionality, empathy, catalyzing change, developing others, communication, visionary leadership and building trust.

I encourage you to learn more about EI and how you can apply it in your professional and personal life. What can a high EQ do for YOU?

Chris Williams is a CTA certified Executive Coach with Inspirational Consulting & Coaching, LLC. Chris works with high-achieving executives, managers, entrepreneurs and professionals in achieving extraordinary results for their companies and themselves. He transforms managers into leaders and leaders into legends!