The Business Case for Emotional Intelligence
Emotional Intelligence is a key factor in an organization as it forms the background of any success in an organization. EI is a useful tool that Human Resource practitioners and managers need to acquire in order to manage their organizations. The factors useful in the smooth running of an organization include the personnel’s influence, team leadership, and organizational awareness, achievement of the drive and quality leadership. EI supports the recruitment process as they are able to select and predict good traits in an employee before recruiting s/her during the selection process. According to the research contacted, it indicates that the technical skills and cognitive ability bring out much difference among employees in an organization.
Emotional competence also has a great impact on the overall performance of personnel. Poor interpersonal relations, lack of team working and difficulty in handling change are key issues that limit the functioning of executives who lack emotional competence. During the transformation process, one has to ensure that s/he clearly sets the structure, stretch targets and develop a structure for development. It is important to note that a successful transformation is a major step towards bridging the gap between the top management and the rest of the organization. It is also important to note that the following aspects are addressed the changes, challenges, opportunities and the impact it will have on each individual. It is important to combine energy and ideas that is an important aspect for an organization to maintain its momentum and status quo.
Corporate transformation under pressure Ovr the past few years, the corporate business world has been under pressure caused by the economic turmoil that has led to efforts of transforming their routine activities. It has led to establishment of new tactics useful in addressing the economic fluctuations. Establishing comprehensive policies, proper targets and high morale among the leaders from the low to top level promotes the transformation process. The involvement of employees and the society (CSR) promotes the success of an organization. Research indicates that many companies succumb to pressure that result in failure of applying the set tactics.
Over the period, it has been observed most of the companies have performed well and their territories have expanded while others have decline in their performance opting to other measures like amalgamation, merging with others, forming cartels and other means in order to maintain their image and power in the market. It’s noted that many companies tend to focus more on responding to a crisis in the short term and fail to plan for the long term transformations so as to enhance their results. They tend to move from one short-term cost cutting initiative to another and end up forgetting to communicate on their aspirations. Therefore, it is important to note that the transformation programs are rare to succeed and most conducted surveys show that the success rate is lower than 40%. In order to succeed in the transformation program, it is important to set a clear and high aspirations and targets. What Makes a Leader? The success of any business requires good leader to spear head the overall managgement process.
Goleman notes that the qualities of leadership like toughness, vision, determination and intelligence that are required for success are insufficient in most business. He says that true and effective leaders are identified by the high degree of emotional intelligence that they posses and may include self regulation, empathy, self awareness, social skill and motivation. It is said that they have a direct tie to emotional intelligence and measurable results. A leader who exhibits good characteristics such as empathy, motivation, self regulation, social skill and self awareness is more likely to be more successful than the leader who does not exhibit any of these characteristics. A good leader will act as a role model to the employees in the business thus success.
A business that does not have a good leader will end up not succeeding because there are poor leadership that cannot competently run the business effectively. Leadership skills enable one to critically analyze decisions on organizational problems within the market. Emotional intelligence offers an opportunity of being able to distinguish the outstanding leaders basing on their performance in the organization. EI is closely linked with quality and strong performance among the leaders. The concept of self-awareness offer the opportunity of identifying and understanding the all the values, moods, emotions and the set goals of an entity. Self regulation provides the knowledge of freeing one’s mind from being a prisoner of his ideas.
One gets the notion of controlling his/her own feelings and working towards the attaining of the set objective without fear.