Simply put, EQ refers to one's emotional intelligence whereas IQ refers to academic intelligence. Where IQ (Intelligence Quotient) focuses on logical thinking and problem-solving abilities, EQ (Emotional Intelligence Quotient) focuses on the ability to understand and regulate emotions.
Leaders with high EQ are able to identify, assess, manage, and express their emotions in a way that is sensitive to the situation or context they are in. This applies not only to their own emotions but to the emotional responses of others as well.
Just as there are techniques and strategies for developing and improving cognitive skills, emotional intelligence can also be nurtured and the skills and competencies associated with high EQ have become desirable leadership qualities. No longer is an emotionally sensitive leader associated with weakness. In fact, the World Economic Forum reports that 90% of top performers in the workplace score high in emotional intelligence, and that EQ is directly linked to earnings – the higher the EQ, the higher the salary.
The following competencies of emotional intelligence, as identified by Daniel Goleman (leading authority in the field of EQ), are a good place for leaders to start an EQ development plan.
Self-awareness
According to research, leaders lacking in self-awareness are likely to contribute to workplace stress and could negatively impact a team’s chances of success. Developing a thorough understanding of their strengths and weaknesses, as well as emotions, and how they impact the performance of others that they work with can make all the difference.
Leadership insight tools are a great way to discover strengths and weaknesses of an individual leader as well as the complementarity of a leadership team. Graham Roadnight at Leadership Dynamics argues that, ‘there is more scope than ever to engineer the optimal leadership team’, by evaluating strengths and weaknesses, identifying gaps and making changes with a focus on behaviours rather than personality traits.
TIP - Make use of leadership insight tools such as the PACE analysis and take some time each day or every week to reflect on your behaviours, thoughts and feelings. Focus on a significant workplace event and make a note of how you responded, what was going through your mind at the time and the emotions that led you to think in that way.
Self-regulation
A leader with the ability to control their emotions, especially when under pressure and in stressful situations, is more likely to respond rather than react. A study of emotion regulation and decision making found that naturally occurring negative emotions increased risk aversion in participants. Staying calm and formulating an intentional response rather than an irrational and impulsive one could result in better decision-making.
With the World Health Organisation now officially referring to burnout as an ‘occupational phenomenon’, leaders need to protect themselves against the adverse effects of workplace stress and lead by example.
TIP - When it comes to big workplace issues and organisational challenges, the clearer you are on where you stand the easier it is to respond in a measured and intentional way. Taking the time to develop and align company culture, vision and values will help provide a framework for responding to difficult situations.
Motivation
Intrinsically motivated leaders are passionate about what they do and are driven by factors beyond external influences such as salary, status and recognition from others. They are also more likely to provide working environments that encourage employees to develop new skills, make meaningful decisions and connect to a greater purpose - all important factors for promoting intrinsic motivation according to Dan Pink, bestselling author of Drive.
TIP - Don’t let the true purpose of what you do get drowned out by workplace noise and politics. Step back, look at the bigger picture and think about what really matters. Then review your goals. If they don’t align with the things that really matter to you, it’s time for a rethink.
Empathy
The ability to give good quality, constructive feedback as a leader is critical to managing a successful team and, being able to see things from someone else’s perspective plays an important role in formulating feedback and is positively correlated with job performance according to research by the Centre for Creative Leadership.
What’s more, is that the majority of employees say that constructive or corrective feedback is what they want but taking an empathetic approach to this is key.
TIP - It’s difficult to practise empathy if you don’t know how other people are feeling. Taking the time to listen to employees before giving feedback will increase the chances of feedback being understood, well received and acted upon.
Social skills
According to Daniel Goleman, having a good grasp of the often complex dynamics at play within an organisation helps leaders to resolve any conflicts that may arise and generate support from those around them. Well-developed social skills feed into great communication and allow leaders to understand others better and be understood themselves.
TIP - By clearly communicating company vision, values, goals, roles, and responsibilities with their team, leaders create a solid foundation from which to develop trust and understanding. Friction within a team is less likely when they have clarity and, if conflict does arise, it is much easier to address and resolve.
