Emotional Intelligence And Bottom Line Results
Business decisions are made based on measured results and decisions on selecting training needs to be based on the same criteria. Our true story illustrates the ROI and impact of Emotional Intelligence skill-building on the bottom line.
Enhancing Emotional Intelligence (EI) skills can provide measurable organizational benefits(1) and, ultimately, positively impact the organizational bottom line. This is illustrated within the true story below.
Joe (not his real name) works because the Director of Engineering for a company that invents methods to improve refining processes and oil extraction. They then lease the patents on those methods to oil companies. By applying the EI skills he recently developed, Joe was capable of contribute to his company’s bottom line.
Joe was on his approach to South America to talk to a customer who wanted to renew their contract with one exception, reducing the unique $15 million contract to only $13 million. On the flight down, Joe was feeling anxious and worried concerning the meeting. In spite of everything, $2 million in revenue and an important customer relationship were on the line.
Recognizing his anxiety, Joe applied a couple of simple EI techniques he’d been taught to remodel those feelings into more positive, productive thoughts and emotions. Consequently, he came up with several positive options he could present through the name 3 products from the fractional distillation of crude oil meeting.
The meeting went fairly well, but there was one person from the client’s company who was picking over the contract details, seemingly trying to thwart the whole negotiation process.
Instead of becoming defensive and frustrated, Joe drew upon his EI training, handling his own emotional reactions to the man’s objections. He ended up convincing the oil company to agree to additional services and process improvements and to sign a contract several million dollars over the original contract.
Emotional Intelligence just name 3 products from the fractional distillation of crude oil isn’t about being soft. It is about a unique way of being smart. It’s about managing yourself and using your emotions to positively lead others; to have interaction not just their head and hands, but additionally their hearts.
Putting EI Into Action
You feel the results of emotional turmoil daily. What are you able to do You may take action to develop your own emotional intelligence.
Start by increasing your emotional self-awareness and asking yourself, “What am I feeling right now ” several times a day ” Notice that the question is just not “how” but “what” because we are inclined to answer the question “How am I feeling ” with the word “Fine” which tells us nothing.
When you determine what you are feeling (corresponding to anxiety, happiness, anger, excitement) you should utilize that information to help you decide what it is best to do or not do next. Simply put, with this information, you’ll be able to more effectively make decisions.
Then, openly describe your feelings. When you’ve got an issue on the table, and you find that you are feeling a bit anxious or concerned about it, simply recognize those feelings and share them in a matter-of-fact fashion. So often, if persons are feeling anxious, they’re going to criticize, or find some detail to disagree with: “Those numbers cannot be right.”
Instead, the more emotionally intelligent thing to say is, “I should inform you, I’m feeling a bit anxious about this decision.By disclosing your feelings, you give your team more details about you and your view, providing them with greater insight into your perspective. Discussing feelings improves communication and sets the tone for cooperation.
Third, get some EI skill training. Combining formal classroom sessions and coaching sessions improves the likelihood for successful EI skill development. Be certain the training is skill-based, that is, provides not only details about EI but additionally the chance to practice skills on real situations. And, make sure that the provider has documented quantified results. Business decisions are based on measured results and decisions on selecting training ought to be based on the same criteria.
1. Daniel Goleman, “What Makes A pacesetter ” HBR, 1998.
Article Tags: Emotional Intelligence, Bottom Line