Recently I had the unusual experience of flying on a plane! As the flight took off, I reached for the Qantas In-flight magazine and read an article that resonated with me. EQ is the new IQ by Susan Horsburgh
The article talked about emotional intelligence and the importance in management of being self-aware of who you truly are and not making excuses for “that’s just who I am!’. This theory has had a lead to motivated company culture, excellent customer loyalty and low staff turnover.
Tell me more I hear you say...
In 1995, Emotional Intelligence became a new phenomenon with Harvard Business Review calling it a “revolutionary paradigm-shattering idea” however the phenomenon has only gain momentum from there.
Psychologist Daniel Goleman discusses how EQ is learned and learnable and that true success is based on your understanding of what’s important to others and not your academic brilliance nor your IQ.
The COVID pandemic has certainly caused a lot of exhaustion and made every one focus on what is important in life? What is your purpose? Covid has definitely made people more conscious of their mental health and the way their staff “feel” is fundamental to the businesses success placing a larger importance on EQ being the new IQ in 2022.
The proof is in the pudding. ANZ Bank became the first company to transform their focus to be “more human” and customer centric and went on for 8 years running to win retail bank of the year in Australia and to double their share price within an 18 month period. Later French pharmaceutical company Sanofi followed suit which led to a 13% rise in revenue and a $6 return for every dollar spend on training.
Strong EQ leaders return better bottom lines. The way people feel, the way they think and the way they behave has shown that employees who feel valued and cared for far out perform those who don’t. It all leads to a higher level of staff satisfaction which results in less turnover and a better employment brand.
I think the pandemic over the past few years has meant that people have dropped their guard, management included. EQ leaders have become more transparent about their challenges as well as their willingness to address mental health with their teams.
In short, EQ Leadership doesn’t mean we have to be best friends with our employees, it just means leading with compassion and empathy whilst balancing the importance of keeping a business running at a profitable level.
