What is the Secret Weapon of the top 10% of companies across all industries?
Emotional intelligence, known as EQ, is the secret weapon of top performing companies. They use it to recruit their people and for on-going training and development.
I have been talking to a lot of business owners over the last few weeks about emotional intelligence. One of the main questions they ask me is why and how will emotional intelligence make my company and staff better?
Firstly, lets recap - what is emotional intelligence? "It is the ability to recognise, understand and manage our own emotions and recognise, understand and influence the emotions of others." Dan Goleman
Success leaves clues and if you want to be in the top 10% in your industry you need to do what the successful companies are doing. Companies like AT&T, PepsiCo, L'Oréal, Google, Facebook and Zappo are hiring staff based on their emotional intelligence not technical skills. They know it is critical for leadership, problem solving and relationship management. Here is one example - L'Oréal, they hired salespeople based on high emotional intelligence and these salespeople outperformed their peers by $91,370 in their first year alone.
The application of best practice emotional intelligence strategies is even more critical in sales and relationship management roles as we know the old saying "we do business (buy from) people we like" is so true. Gallup researchers, Smith and Rutiggliano, found customers who like their sales person are 12 times more likely to continue the purchase. It secures repeat business and referrals.
Implementing best practice emotional intelligence strategies into all aspects of your business will result in a high performing culture .A blog by Salesforce from January this year discusses how high EQ leads to high performing sales teams - it applies to all roles in your business though not just sales. You will have a culture that is competitive (externally) and collaborative (internally). You won’t have lone wolves, your best people will teach and mentor the new people as they realise they are a team and with everyone achieving results they will be smashing the competitors.
You will have culture of personal accountability. There will be no excuses or blaming, staff will take responsibility. Learning and continuous improvement are just be normal and good business.
You will have a culture of not taking short cuts. Your people will have grit and perseverance. They will practice delayed gratification, with their eye on the long term goal instead of the short-term win
The first step to embedding a culture of high performance is simple, it is awareness.
As with all key measures in your business you must have a benchmark of the levels of emotional intelligence for yourself, your leadership team and your employees (especially those in sales or relationship management). Once you know your strengths and weakness in the four key areas and 12 competencies of emotional intelligence you can select the right tools and strategies that will fast track your transition to being in the top 10% of your industry.
If you would like me to show you how to fast-track an implementation plan to move to a high performing team and culture using emotional intelligence as the driver please contact me.