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Emotional Intelligence - the Business Case
Emotional Intelligence (EI) is critical in business. The emotions that leaders, employees, and customers feel impact the bottom line of companies and the effectiveness of government and non-profit organizations.
In their Harvard Business Review article, “The Service-Profit Chain,” Hesket et. al. identified a chain of factors driving profitability in a company. Their factors revealed that effective leadership is critical to profitability. The emotions that leaders experience impact the climate and culture of an organization as a whole. More specifically, leaders’ emotions impact
- What employees feel
- The satisfaction employees experience with their company and their work
- How loyal they are and their willingness to give extra effort.
- How productive and efficient they are.
How employees feel and perform their work impact how customers feel, how satisfied they are with both products and services, and ultimately how loyal a customer is to the company or organization. And how loyal customers are has a direct impact on the bottom line and profitability of an organization.
Notice that the foundational element in this set of relationships is leadership. It does not say CEO or Executive Vice President or Director. It says leaders. The in-charge person in every work team, every manager, and every individual in the organization is a leader. Self-leadership is one of the most important factors to focus on in skill development. Whether at work or at home, self-leadership is the internal ability to lead oneself to make the best decisions or choices throughout the day moment-to-moment.
Both positive and negative emotions impact everyone in organizations and the customers they serve. For example, negative emotions may result in poor performance, high stress, increased conflict, low morale, lack of trust and teamwork, more errors, poor quality, increased turnover and more. In turn, these problems may decrease customer satisfaction and increase customer complaints and defection. Ultimately, profitability can be negatively impacted.
Impact:
We can discover the significant impact negative emotions can have on the organization by asking a few questions relating to these problems:
- Which of these problems have you experienced in your organization?
- What is the impact on performance, business objectives, and key initiatives?
- What could your organization achieve if these problems were minimized?
Value of Developing Emotional Competence:
The critical value of developing the Emotional Competence of leaders is supported by additional research. Daniel Goleman, author of Emotional Intelligence, examined competency studies of 200 large global companies and reported the following results in the Nov./Dec., 1998 Harvard Business Review:
“When I calculated the ratio of technical skills, IQ, and emotional intelligence as ingredients of excellent performance, emotional intelligence proved to be twice as important as the others for jobs at all levels.”
His conclusions about senior leaders were even more telling…
“When I compared star performers with average ones in senior leadership positions, nearly 90% of the difference in their profiles was attributable to emotional intelligence factors rather than cognitive abilities.”
Impact on the Bottom Line:
Several studies reveal a direct impact of the organization’s leadership on its bottom line. In the same HBR article (see above), Goleman shares the following findings:
“David McClelland found that when senior managers had a critical mass of emotional intelligence capabilities, their divisions outperformed yearly earnings goals by 20%. Division leaders without that critical mass under performed by almost the same amount.”
In his book Primal Leadership, Goleman, et. al. provides further evidence of the impact of emotional intelligence on the organization’s profitability:
“A study found that the more positive the overall moods of people in the top management team, the more cooperatively they worked together - and the better the company’s business results.”
“In a study of nineteen insurance companies, the climate created by the CEOs among their direct reports predicted the business performance of the entire organization: In 75% of the cases, climate alone accurately sorted companies into high versus low profits and growth.” (Cited in Primal Leadership - research by David McClelland, “Identifying Competencies with Behavior-Event Interviews,” Psychological Science 9, 1998 and David Williams, “Leadership for the 21st Century,” Life Insurance Leadership Study, 1995.)
The Results:
The effects of EI skill development are far-reaching. They go beyond just leadership competencies or management skills. It’s difficult to identify any other organizational improvement intervention that has the potential to positively impact so many organizational problems concurrently. EI skill-building training enhances and complements other values-based and principle-centered programs by providing practical “how-to’s.” EI skills are foundations skills enabling people to improve the “how” of achieving results.
EI training results can be significant. During post-program impact interviews, participants have reported improvements that range from 15% to 35% increased teamwork, 20% to 35% increase in personal productivity, 20% to 40% reduction in stress and worry, and similar improvements in personal motivation, management of emotional reactiveness, work/life balance, creativity and more.
Byron Stock
http://www.articlesbase.com/business-articles/emotional-intelligence-the-business-case-711078.html
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Executive Recruitment - Some Highly Effective Strategies
Like in any relationship it takes an effort from both sides concerned to make it work and this is the same where the relationship of an employer and an employee is concerned. You have to build a rapport with each other to make a strong bonding. Similarly the person who is seeking the job has to build a bond with the executive recruitment company and this works the other way round too. You would have to sense when you have to work in accordance with the recruitment company and when it is better to do thing on your own. Sometimes it maybe beneficial to have a recruiter assisting you, but at times it is better to try on your own to get things done.
Strategies to be aware of while job searching
When you are on the look out for a job it is important to make sure that you can use all the strategies that you can so that you get the best possible deal. One way of doing this is to ensure that you send out your resume to as many recruiters as possible so that you have a wide range of choice of jobs. Ofcourse the recruiters should be professional ones because if they are not up to the mark you will end up wasting your time on smaller jobs that are not of the proper category for you. One more important factor is that you will not be able to get a good job if you start searching for jobs when you are unemployed. People who are employed stand a much better chance of getting a good job as the employer has more confidence in them.
Once you have been through an interview and are keen on a certain firm, you should be persistent and keep contacting them regularly so that they do not forget about you and feel that you are really keen on the job. You could send the recruiters emails and reminders so that they know you are still interested in getting the job. However, once a certain period of time has lapsed then stop contacting the recruiter as they may get fed up of your persistent emails and calls.
Keep your resume updated
You should ensure that your resume which is the main key to your getting a job is always updated with the latest information on your qualifications and experience. if you have posted your resume online, ensure regular updating as the employers who search online would like to contact those who have updated their resumes recently and not some time ago. You r resume will show up among the top searches if you update it regularly.
Do not pay recruiters for their services
Recruiters normally get paid by the companies who are searching for candidates so you need never pay for their services. If any recruiter asks you for payment just drop them, because this means that they are not honest.
The recruiter who helps you with a job should be ethical and honest, because if he is not, neither will the job that he finds for you be worth while. Take your time in selecting the recruitment company and do not be in a hurry to take on any one that comes your way. You should do some research and gather information online before settling for a recruiter.
Abhishek Agarwal
http://www.articlesbase.com/careers-articles/executive-recruitment-some-highly-effective-strategies-703262.html