Why are more and more leaders with a higher EQ in demand?

Following the feedback I received on my previous blog: What is EQ? Can I increase my EQ? it is only appropriate that I further explore the topic. This month we look at why leaders with a higher EQ are more and more in demand.

For a very long time most people believed that intelligence, and innovative and strategic thinking were the key ingredients for successful leadership. It is only over the last few decades that Emotional Intelligence (EQ) has taken a more prominent role as prerequisite for successful leadership. EQ can be defined as the ability to understand, manage, and effectively express one’s own feelings, as well as engage and navigate successfully with the feelings of others.

According to the World Economic Forum’s Future of Jobs Report, emotional intelligence will be one of the top 10 job skills in 2020.

Having higher levels of EQ, equips a leader with the following skills:

1. Self-awareness

It is hard to make objective decisions when our pride and self-esteem are at stake.

We have all been in situations where you previously expressed support for a certain strategy and now your pride is tied up with that strategy, making it harder to recognise if it isn’t working. Higher EQ leaders have the ability to distinct between their own emotions and the facts of the matter and can make sound decisions despite the impact the decision might have on their own pride.

2. Interpreting others

As much as we may want business to be an objective process; reality is: it is an emotional experience. EQ makes it easier to anticipate, understand and respond to others’ sentiments. A higher EQ leader appreciates that emotions are as important as fact when making significant decisions and do not try to only make decisions based on facts.

Such leaders are not afraid of the emotions of others. They do not manage just from the bottom line. Their style is about growing an organisation that cares about their employees and anyone who conducts business with them. Everyone is treated with consideration.

Research shows that leadership and people skills account for more than 85% of employees’ success at work, while traditional qualifications (work experience, academics and IQ) only account for 15%.

3. Outstanding customer/client experiences

As businesses are faced with the impacts of artificial intelligence, it is important to remember that our customers and clients have not changed into robots; they still need both their emotional and physical needs to the satisfied. As more and more day to day functions are fulfilled by artificial intelligence, it is becoming more and more important that our clients’ and customers’ emotional needs are being addressed during our personal interactions with them. Daniel Goleman, in his book Working with Emotional Intelligence (already published in 1998!), helps make the connection between customer service excellence and emotional intelligence.

4. Communication

As leaders we are required to communicate with our teams. But communication is not only about sharing facts and figures. Communication is about listening, asking questions and motivation. This extends itself to being able to listen without judgement, keeping emotions under control and to ask questions when necessary to seek to understand. People have to believe in their leader, and communication is a key to that credibility.

5. Authenticity

Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power.

Knowing oneself and acting from that truth draws people to you as a leader. This skill is not possible without a fair amount of EQ. Being real, making decisions that are in alignment with how a leader truly operates rarely requires second-guessing. Such a leader understands their own values and is consistent in applying them. As part of that, the leader has the courage to hold true to them, without losing sight of reality.

6. Respect

Respect is not just about others; the higher EQ leader practices self-respect. How a leader treats themselves matters, because it is reflected back in the people he or she manages. A leader who respects him/herself and others doesn’t speak disrespectfully at any time, even when mistakes happen. The way to get the best out of people is not through demeaning behaviour, but by treating all people the same in every situation.

7. Having a sense of humour

If a leader is serious all the time, then it creates a very austere environment. Some leaders are afraid to be light, because they want to be taken seriously. This behaviour is often a sign of insecurity. A higher EQ leader presents balance. People tend to work harder and smarter when there is a sense of fun. Morale is linked to productivity, and as a leader, you have to instil a positive energy to the workspace.

8. Confidence and handling stress

As a leader, there will be crisis and calm times when things are not moving forward. Whatever size the business, it is important to not fall into overwhelm or overreact. People look to the leader for cues on how to respond to the circumstances and if a leader is confident while taking care of issues, it will help keep the team feeling the same. Those who inspire others to follow into the unknown, can only do so if they have self-confidence.

The ability to handle pressure goes hand in hand with confidence.

Dealing with workplace pressures and functioning well under stress demands an ability to manage our emotions. People with higher levels of emotional intelligence are more aware of their internal thermometer and therefore better able to manage their stress levels. They tend to have better-developed coping mechanisms and healthy support systems that keep working effectively even in tough situations.

No doubt emotional intelligence is more rare than book smarts, but my experience says it is actually more important in the making of a leader. You just can’t ignore it.  Jack Welch