As a manager or business leader, one of your key roles is to create an atmosphere of innovation and success.
But in order to achieve that, you need tools where the primary driver is emotional intelligence.
In this article, we’ll explore what emotional intelligent leadership means, and how it can be used to reshape the workplace. Learn the tools that can boost workplace morale and help the team stay motivated.
Let’s get started!
What is Emotional Intelligence in Business?
Emotional intelligence, often referred to as EI or EQ (emotional quotient), is a term that describes the ability to perceive emotions and use emotional knowledge to guide thought. It can also be explained as a vital tool for understanding other people’s emotions.
In the context of business, emotional intelligence is about constructing a positive work culture that can increase productivity.
Its main drivers are growth, innovation, and creativity. Its engine is teamwork.
Research has identified high levels of EI in successful leaders and managers. And employees with emotionally intelligent managers have been shown to be more engaged and more likely to stay at their companies.
How Does Emotional Intelligence in Leadership Impact Business?
Research from Harvard and Gallup has shown a clear link between job satisfaction and productivity. In fact, studies indicate a 14% increase in productivity among happy employees.
But in order to have happy and engaged employees, you need emotionally intelligent leadership. If we look at the numbers, unhappy employees are costing companies more than 8 trillion American dollars globally in lost productivity.
4 Essential Tools to Building an Emotionally Intelligent Leadership
When it comes to leadership, EQ plays a fundamental part. More important than technical skills or expertise, emotional intelligence enables you to connect with the team and effectively navigate what can sometimes be complex interpersonal dynamics.
In short, EQ is about work culture – and work culture is what makes or breaks a company in terms of success. Leaders with high EQ are masters at motivating their teams, excellent problem solvers and conflict mediators.
In fact, according to a Deloitte study, 84% of employees and 83% of executives agree that a positive work environment is the top factor that contributes to company success.
So, let’s create a positive work culture together!
Below are 4 essential components you’ll need to incorporate from the get-go.
1. Recognition and Appreciation
Encouragement and support are the pillars of emotionally intelligent leadership. In corporate language, it’s called employee recognition.
The concept behind it is to acknowledge and reward employees' achievements in order to help them grow – but also to boost productivity and motivation.
A well-executed recognition strategy can help strengthen the bond between team leaders and employees. However, it’ll depend heavily on the EQ skills of the executing manager or team leader.
According to Forbes, celebrating the accomplishments of your employees is key if you want to create a positive work environment and boost team morale. Offer a bonus or a gift card to employees who consistently go the extra mile, celebrate milestones, and show your genuine appreciation for the team’s hard work and dedication.
Learn more about how to take your motivation strategy to the next level in our guide.
2. Open and Transparent Communication
There’s something to be said about emotionally intelligent leaders who actively listen to their employees. Effective communication is how you build trust and credibility. This is why EQ leaders take extra steps to communicate effectively.
The consequence of not doing so can potentially be damaging to team morale and productivity.
Team meetings and one-on-one talks are valuable spaces for tweaking your communication strategy. Take the time to collect feedback – and respond to the team’s needs and concerns.
In a recent study, Gallup found that only 27% of workers agreed that the feedback they receive from managers helps them do a better job. In fact, according to that same study, several approaches to feedback can often lead to worse performance levels.
3. Strong Team Relationships
Any high-performance work environment is powered by strong relationships from the top down. Managers with high EQ make it a priority to build confidence and trust. They empathize with their team members’ challenges and expectations.
Imagine the quality of relationships in a work culture as having the same quality as glue. If the glue is bad, then the culture will fall apart. If it’s a good strong glue, then the culture will stay solid – even in times of hardship.
4. Effective Conflict Management
Conflict is a necessary evil in any workplace situation. On the greener side of conflict is the opportunity for growth and stronger team relationships.
But in moments of turbulence, the need for a leader who can manage conflict in a constructive way is key.
Leaders with high emotional intelligence handle conflict with:
Tact
Empathy
Constructive dialogue
De-escalating strategies
Whatever the approach, the end goal is always the same: to find a solution that incorporates the perspectives of all parties involved. This helps create stronger relationships and more productive teamwork.
The EQ of a Positive Work Environment
The EQ for effective leadership is one of the most important success factors. The way managers manage is critical to shaping a work culture built on encouragement and motivation.
While some people were naturally born with emotional intelligence, others have to work on developing the necessary skills to become effective leaders. But the tools are available to anyone, and with consistent work, comes excellence!
About GoGift
GoGift, a leading global provider of gift card solutions, specializes in offering innovative and versatile gift card services to over 15.000 corporate clients worldwide. With a commitment to simplifying the gift-giving process, GoGift provides a broad range of gift card options from numerous popular brands, catering to a diverse array of tastes and preferences. Their services are designed to enhance the gifting experience, making it more convenient, personal, and enjoyable for both the giver and the recipient.
For more detailed information about GoGift, please visit their official website: https://www.global.gogift.com/