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Summary: Where once it might have been enough to offer money and opportunity, today a “good job” also has to provide meaningful work in a positive culture. Emotional intelligence describes a set of people-skills leaders must have to be people worth following — and to build a health workplace culture.
Key Points: There is a growing shortage of talent in the world — and increasingly talented people hold the cards. So to survive, building an attractive workplace culture is a strategic priority. What are the skills that allow leaders to do so? Top talent can work anywhere in the world — why should they work for you? The skills of emotional intelligence are key for building leaders worth following. Does it matter how people feel about going to work each day? It turns out that over half of the variation in work performance is driven by the workplace environment, or organizational climate. Only around 25% of employees are fully engaged — adding real value to the workplace. Leaders who have the skills to enroll people create more value — that’s why emotionally intelligent leaders outperform others.
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Data: The top issue in the workplace today is talent – finding it, keeping it, nurturing it [1] A year-long emotional intelligence program at Sheraton Studio City correlated with a 19.6% drop in unwanted staff turnover — and a 23.4% increase in marketshare. [2] In a study of three poultry processing plants, 76% of the variation in Employee Engagement is predicted by the variation in manager EQ scores. [3] Compared to “IQ” skills, emotional intelligence competencies are more than twice as frequently cited as the characteristics that set star performers apart. [2] At L’Oreal, salespeople trained in emotional intelligence had a 63% lower staff turnover than others. [2] In one hospital, an emotional competence and stress reduction program cut turnover by almost 50% – and within the core team turnover dropped to under 2%, saving $800,000 in less than a year. [2] |
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“People don’t leave companies – they leave leaders.” “Companies need good people more than good people need companies.“
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Sources:
[1] The 2012 Workplaces Issues Report
