Despite all the operational and strategic aspects, managing a business and a multitude of projects often comes down to managing people. All of the people who work for you and with you are individuals with unique personalities, emotions, opinions, and attitudes. Managing people can be challenging.
Emotional intelligence is key. The capacity to be aware of, control, and express emotions, and to handle interpersonal relationships judiciously and empathetically can do wonders for your business.
Why is emotional intelligence important?
Entrepreneurs are project managers are who manage scope, budget, schedule, risks, and a team. They are also expected to be leaders who mentor and coach their team, help them grow professionally, and provide a vision and mission. That is why top and emerging business leaders are keen on developing emotional intelligence (EI).
Emotional Intelligence is a set of abilities that can help us:
identify and manage our own emotions and the emotions of others;
and interact successfully with people around us.
According to TalentSmart, a provider of emotional intelligence test, training, and certification, over 75% of the Fortune 500 companies use their emotional intelligence training tools. Furthermore, 90% of top performers possess high levels of EQ, and just 20% of low performers have high EQ.
Daniel Goleman, psychologist and author of Emotional Intelligence, says Emotional Intelligence ranges across four areas: self-awareness, self-management, empathy and social awareness and relationship management.
Benefits of emotional intelligence
Here’s a look at 6 ways emotional intelligence can benefit business leaders, entrepreneurs and project managers:
Build client trust. EI helps us understand client pains, problems, and their overall level of satisfaction.
Team building. Emotionally intelligent people are more likely to understand other people’s emotions and needs. If you want your team to deliver the best results, you have to understand their needs.
Leadership improvement. Successful leaders are proactive and respond appropriately whenever there is a sense of discomfort or miscommunication. Emotional intelligence allows us to pick up common workplace signals and respond accordingly.
Conflict resolution. Resolving conflicts in an emotionally intelligent way means trying to understand the opinions of others without judgement, taking care of their interests and providing solutions suitable for all parties involved.
Effective communication. Understanding your team on an individual level empowers you to improve communication and use the right approaches.
Conducting interviews. When hiring employees, it is vital to find people who meet the technical requirements and will also be a good culture fit for your team. Emotional intelligence can help you learn how to assess this more easily.
How to improve your emotional intelligence
If you want to increase your emotional intelligence, consider these 6 tips.
Observe your feelings. Being able to identify your emotional triggers is crucial for developing emotional intelligence. When you understand your feelings and how they impact your business, communication (internal and external), and productivity – you can manage them.
Control your emotions. In any circumstance, you are the only person responsible for your emotions and attitude. You cannot always behave in a perfect way, but you can learn to manage your emotions in a way that benefits you and everyone involved.
Responding, don’t react. Reacting is usually quick and thoughtless. On the contrary, responding is more thoughtful and based on the consideration of different factors.
Practice empathy. Imagine yourself in another person’s shoes and try to understand how they feel.
Address blind spots with feedback. Emotionally intelligent people are open to criticism and feedback. Even though feedback can be offensive it can help you understand your strengths and weaknesses.
It is said that people do not leave companies, they leave their managers. If you want your business to run more smoothly, continually master the craft of emotional intelligence and encourage its practice among your leaders.
Gnatyk Romana is Content Marketing Manager at N-iX and is passionate about software development. She write insightful content on various IT topics, including software development, mobile app development, artificial intelligence and blockchain technologies.
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