To be a successful leader, you need to have the emotional intelligence to manage stress, collaborate with others, and coach teams. Having this type of capability can help you develop effective communication skills and improve your time management. It is often the difference between high performers and those with similar knowledge and technical skills. The concept of emotional intelligence was first coined in 1990 by Peter Salovey and John Mayer. It refers to the ability to understand and influence the emotions of others. Over a decade ago, Daniel Goleman noted that the most effective leaders have the necessary emotional intelligence to lead. He said that technical and IQ skills are not enough to determine an individual's success. They need to have the necessary emotional intelligence to be considered for executive positions. The core competencies of emotional intelligence are typically broken down into four different categories. It's important to understand each of these to improve your emotional intelligence. 1. Self-Awareness One of the most important factors people need to consider when developing their emotional intelligence is self-awareness. This capability allows them to recognize and manage their weaknesses and strengths. A study by Tasha Eurich revealed that only around 10% to 15% of people believe they are self-aware. This means that working with people who aren't self-aware can lead to decreased motivation and stress, and it can cause a team's success to be reduced by half. Self-awareness can help them bring out the best in themselves. One simple way to assess this is through a 360-degree feedback survey, which allows you to evaluate your performance and compare it with the opinions of your boss, colleagues, and direct reports. 2. Self-Management Being able to manage your emotions is known as self-management, and it can help you maintain a positive outlook even when things get challenging. Leaders who lack this tend to react negatively to situations and have a hard time keeping their impulses under control. It's important to remember to take a break from time to time and breathe deeply. Doing so can help you intentionally respond to situations and stress. 3. Social Awareness While it's important to manage your own emotions, it's also important to understand how others feel. Social awareness is a skill people can use to identify the dynamics of their organization. Leaders who are able to develop social awareness are more likely to collaborate and communicate effectively with their colleagues. This skill can help them understand their colleagues' perspectives and feelings. According to a study conducted by DDI, leaders who can master empathy are more likely to perform well in various areas of their work, such as making decisions and engaging others. They also noted that those who show more empathy toward others are more likely to be regarded as better performers.
4. Relationship Management Managing your relationships is crucial for leaders, as research has shown that many people avoid conflict because they don't want to waste time on it. However, it's important to address issues as they arise. According to studies, an unchecked conflict can waste up to eight hours of your company's time, which can affect morale and resources. A survey conducted by the HR Management Society revealed that 72 percent of employees consider being treated with respect at all levels to be the most important factor that contributes to their job satisfaction. Leaders are expected to set the tone for their organizations; if they don't have the emotional intelligence to manage their emotions, they can have detrimental consequences. While technical skills are fundamental for people to excel at their job, they will get overlooked if they can't effectively collaborate with others or communicate with their team members. By developing emotional intelligence, you will be able to advance in your career and organization.