How can we improve emotional stability in companies?
The Emotional Intelligence (EI) is a powerful indicator of the level of satisfaction and success in life and at work. It can be defined as the ability to identify, understand and regulate one’s own emotions and those of others. That is, it is the ability to manage emotions well. Both ours and those of others.
Since Daniel Goleman made this concept famous, the study of feelings and emotions has grown. The stresses of modern life, great competition in the personal and work area, stress and the demand for constant professional development, among other factors, contribute to altering the emotional state of most individuals and their well-being.
Emotional intelligence and professional development
Therefore, emotional intelligence is closely related to emotional balance. This balance not only affects personal life, but is important for work and professional development. In other words, emotional intelligence plays a vital role in the workplace.
Within the organization, emotional intelligence is beneficial for job satisfaction, for better leadership from superiors, to reduce stress, to work in a team, etc. Fortunately, it is possible to learn the emotional skills that provide benefits on a personal and professional level and that also allow better organizational results.
Emotional intelligence in companies
Individual and collective emotional intelligence affects the organization positively and negatively. Organizations in which their workers have a high level of emotional intelligence experience greater commitment from employees. On the other hand, companies in which their workers have a low level of EI have a greater turnover of personnel, higher levels of burnout syndrome, low productivity and fewer sales.
But, in addition, the negative behavior of co-workers and superiors (for example, fights, bad mood, etc.) also increases when there is a low level of emotional intelligence in the organization, which causes a work environment that favors stress and burnout.
Self-knowledge and self-regulation: two key competencies in the workplace
The self – awareness or self – consciousness is a competition that positively affects self – confidence and success in the labor field. In addition, it allows an individual to evaluate their values and their belief system, since in many cases limiting beliefs interfere with potential and professional development. Self-knowledge also allows you to assess your own strengths and weaknesses.
On the other hand, emotional self-regulation is extremely important in different areas of work, and in short it is necessary for emotional control, confidence and initiative. It is also essential, for example, to make difficult decisions by executives.
Benefits of emotional intelligence at work
Assessing the emotional intelligence of workers can be beneficial for a company for many reasons.
In addition to the ones we have already mentioned, below we explain other benefits and advantages of promoting emotional intelligence at work.
1. Higher productivity
The same study revealed that 10% of the research subjects with a higher level of emotional intelligence performed more in their work than those with a lower level of EI.
Another study conducted by a Dallas company, which evaluated the emotional intelligence of all its workers, found that those with higher EI scores were up to 25% more productive than those with low scores.
2. More sales
In a study by Fortune magazine, it revealed that those salespeople with a high level of emotional intelligence managed to sell up to 50% more than those with a low EI level.
3. Stability of employees
A prestigious Fortune 500 company , which used personality assessment for years in an attempt to reduce its high turnover on its sales team, found that strategy to be ineffective. So, by implementing the EI assessment, which includes topics such as stress management, self-awareness or social skills, he was able to reduce his high turnover by up to 67%. The company estimates that more than $30 million has been saved as a result.
4. Worker satisfaction
One bank was forced to reduce its staff by 30% due to the recent economic crisis. The level of emotional intelligence of the workers who remained in the company was evaluated to place the workers in the positions of the organizational structure according to the results. As a result, the bank did better with fewer staff, and workers reported being happier in their new positions.
5. Improved handling of difficult situations
Two investigations, one in a retail company and another in a company in the construction sector, showed that workers with high scores in IE handled difficult situations better and suffered fewer accidents at work.
6. Better customer service
A luxury car sales company that focused its entire marketing plan on the customer experience was expanding and wanted to hire the right people to do the job of providing the best possible customer service. In the personnel selection process, the IE evaluation was used to select the candidates with the best profile. A year later the company was ranked in the top 10% of the best rated automotive companies.
7. Improve organizational communication
A study by the Towers Watson company concluded that EI improves communication with employees, which has a positive impact on the results obtained by the company.