The business need for Emotional Intelligence

Emotional intelligence (otherwise known as emotional quotient or EQ) is the ability to understand, use, and manage your own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges and defuse conflict.

Emotional Intelligence (EI) has influenced society, politics, corporate, and educational life. The concept has been at the forefront of a fundamental shift in the western world, where psychological well-being, resilience, adaptability, neurodiversity, mental health, mindfulness, and other Emotional Intelligent related concepts have become mainstream considerations in the workplace.

Over the last two decades, there has been an exponential growth in Emotional Intelligence, driven by an ever-increasing demand from Organizations.

Here are some of the statistics that back the Emotional Intelligence perceptions:

  • In a 2007 leadership survey, when asked, ‘What are the top issues you face at work? leaders reported that 76% were people/relational issues and only 24% were financial/technical issues.
  • By 2009, it was estimated that over 150 consulting firms were offering Emotional Intelligence related products, and that 75% of fortune 500 companies had adopted Emotional Intelligence services.
  • In a 2012 leadership survey on 775 Senior Managers, 89% reported that EI was ‘highly important’ or ‘essential’ to addressing their organization’s ‘top challenges’.
  • The Future of Jobs Report ranked Emotional Intelligence as one of the top ten skills that would grow in prominence between 2018 and 2022. This was echoed by a McKinsey report that predicted ‘social and emotional skills’ would be increasingly essential requirements for major job transitions that lay ahead from now until 2030.
  • A 2019 survey by Udemy on 400 L&D leaders ranked Emotional Intelligence as one of the fastest growing soft skills in the workplace.

The need for Emotional Intelligence is backed up by numerous studies that show that organizations failing to properly address the emotional and social aspects of work are less likely to succeed.

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