E2- Unleashing the Power of Emotional Quotient: Elevating Workplace Communication and Collaboration

The podcast episode discusses the importance of emotional intelligence (EQ) in the workplace, particularly for teams. Emotional intelligence is seen as a critical factor that sets star performers apart and is linked to higher performance and productivity. The demand for EQ skills is expected to increase in the coming years. Building emotional quotient can help teams navigate rapid growth and change, leading to increased employee retention and a stronger work culture. All team members can benefit from developing EQ skills, including reduced stress and improved relationships with peers. I'm your host, Laura Perez-Ehrhardt. Welcome to CoachNomics Presents Podcasts, a part of the ECS Network. This is our mini-byte series. Today's theme is building the emotional quotient of teams, a model for emotional effectiveness. Over the past few years, there's been much angst due to lack of control over variables around us, such as the pandemic and the aftereffects, which can make even the healthiest work environment difficult to navigate. These dynamics have become even more nuanced with the onset of remote and hybrid work, settings which present their own set of interaction challenges and communication needs. The solution, however, is how emotional intelligence skills can help you take some control back and more effectively manage through phases of, let's say, growth and change. So let's break it down a bit further. Indeed, the concept of emotional quotient has had a real impact. The only problem is that so far, EQ has been viewed only as an individual competency, when in reality is that most work in organizations are done by teams. And if leaders have any pressing need today, it's to find ways to make their teams even better. So why is it relevant in the workplace? There are decades of research that point to emotional intelligence as being the critical factor that sets star performers apart from the rest of the pack. The connection is so strong that 90% of top performers are shown to have a high level of emotional intelligence. Furthermore, a study done by PepsiCo revealed that managers with a high level of emotional intelligence outperformed yearly annual targets by, let's say, 15 to 20% compared to those with lower levels of EQ who underperformed in the same range. Additionally, global demand for emotional intelligence skill sets is set to increase by six times in the next three to five years. I find this all even more exciting because many of the executive leaders, for example, that I coach and work with in their organizations, that lead teams realize that EQ is as critical as IQ to an individual's effectiveness. And a group's emotional intelligence may be even more important. And as I had pointed out earlier, since most of the work gets done in teams, a high level of emotional intelligence in the workplace positively impacts all aspects of the environment and the work. Teams with a high level of EQ skills are seen as more effective at collaboration, communication, more productive, and fulfilled. And this leads to a strong work culture. So how does this impact rapid growth? Organizational growth or change can be overwhelming and difficult to process. While scalable processes and procedures can help to reduce drains on efficiency, emotional intelligence is pivotal to sustaining and growing the organization. For leaders within the organization, an emotionally intelligent team can better navigate the uncertainty of high growth and change periods. Positive impact on the organization can include increased employee retention, a stabilizing force amidst rapid change, including enhanced ability to adjust to scaling and infuse a growth mindset across the teams, including a stronger collaboration communication while avoiding silos between departments and within their teams. So why should teams invest in building emotional quotient? EI is not just relevant for current and aspiring leaders. All team members benefit from EI skills, particularly in times of rapid change or major disruptions. And other advantages can include reduced stress and angst by remaining calm under pressure, increased positivity and satisfaction by focusing on what you can control, which is your emotions, and how it affects you and those around you. And then finally, strengthen relationships with peers and colleagues by making you more relatable and able to relate too. Well, that's it for now, folks. In our mini-bite series, you'll learn more about the model to building emotional intelligence and effective teams. If you dare, click on each tip to learn more. Thank you.