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Why Does EQ Matter in the Business World?

Why Does EQ Matter in the Business World?

Why Does EQ Matter

People are the most important resource in an organization, so why does this perhaps cliché statement often take a back seat to raw numbers and financial reporting on a quarterly statement?

What is EQ?

Emotional intelligence (often simply called EQ) is our individual connections with feelings and emotions, which don’t really factor in GAAP or IFRS accounting schemas at all but are nevertheless important to the overall wellbeing within an organisation.

Most of us probably know a little something about IQ and how it relates to intelligence, but the fact of the matter is it’s really hard to improve our IQ. On the other hand, EQ can be increased or diminished based on our social interactions, so it’s something everyone can contribute to create a more even playing field for employees and colleagues.

EQ in the Workplace

If IQ can be measured with testing, how is EQ measured? The answer may seem rather vague, but generally those with higher EQ tend to manage their own emotions better and contribute better in team settings. The great thing about understanding EQ is that organisations can plan workshops and team away days, for example, with the goal of improving EQ within the workplace. Everybody stands to benefit!

Ways to Improve EQ in Social Settings

Most of us have separate behaviour in the workplace and in our private lives, and that’s fine and in fact probably a good thing. We often refrain from rattling off every thought that crosses our mind to superiors and management since we’re just trying to get by, perhaps. 

Unfortunately, tensions can bottle up and come out in undesirable ways when colleagues reach their wit’s end with one another, so there’s got to be an impartial way of getting employees to get things off their chest in a safe and productive environment.

Perhaps one of the best ways of setting up EQ workshops or training is through facilitation. Facilitation requires a third party that is impartial and neutral; somebody that has no skin in the game and rather than directing the flow of discussion listens attentively and uses reflective listening techniques designed to get everyone participating without stress or fear.

What Should I Know About Facilitation?

Facilitation has long been used by business consultants and coaches, no matter the size. In fact, large corporations and organisations tend to need facilitation on a fairly regular basis since there are so many complexities and moving parts in these large organisations, so tensions can run commensurately high.

The first thing to know about facilitation is that everything shared amongst your peers should stay in the room. Breaking the trust of your colleagues by gossiping about what you heard can leave employees worse off than before the session started, so do endeavor to respect the confidential nature of these sessions. They’re designed to improve teamwork and cooperation, so don’t go in with a vendetta – it will do far more harm than good.