Growing your Business with Emotional Intelligence
Why are some businesses successful while other fail when they have similar products and services? For instance, take the casino industry. They all have hotel rooms, restaurants, entertainment, slot machines and tables for gambling, yet some dominate the market over other casinos along the same street. I am certain all do some form of customer service training, but how are they reaching their employees and customer's emotions?
Most often I hear of training practices that last a day or two. While some may or may not be motivated during that time, the feeling is short lived. Emotional Intelligence (EQ) goes beyond customer service and focuses on the entire being of the individual. In addition, to be effective, consistency is key. Taking a one hour course on EQ does not make you a leader of it. As with anything in life to be successful, it takes time and the willingness and conscious effort to want to make a positive lifestyle change.
Thought leader Simon Sinek stated, "There are leaders and there are those who lead. Leaders hold a position of power and influence. Those who lead inspire us." When you learn how to inspire others in your workforce, respect, loyalty and increased revenue are achieved.
Being self-aware and aware of others are two key components of EQ. It today's technological society, meaningful communication and relationships are diminishing by the swipe of a finger. Think about how you feel when you are talking to someone who is busy texting or looking at their phone compared to when someone is giving you eye contact and sincerely interested in the conversation. When eating in a restaurant, observe everyone around you and see how many people are busy on their phones as opposed to talking to one another. This has become the norm of society and it filters into the workplace.
In any business, knowing how to effectively communicate with co-workers and clients is key. Being able to read non-verbal cues, taking the time to learn who they are, learning how to get rid of the ego and give a genuine sense of caring all lead to better results. For larger companies, it is impossible to get to personally know every employee, but managers and supervisors in each division should take the time to get to know who they are working with. Learning about compassion and empathy and relation to your employees as people is essential to success.
In 2014, Harvard Business Review's magazine cover stated, "Emotional Intelligence: The Essential Ingredient to Success." My son who completed his Master of Engineering degree from Cornell University was required to take a class on Emotional Intelligence to fulfill his degree requirements. Timemagazine had a cover story on "What's Your EQ...Emotional Intelligence may be the best predictor of success in life." The Philadelphia Eagles owner Jeff Lurie hired coach Doug Pederson who coaches with Emotional Intelligence. Smarter companies are taking notice and investing in building strong relationships with their employees.
Businesses who invest in EQ training find the following benefits:
1. Less turnover of employees
2. Decreased drama in the workplace
3. More innovative ideas from workers
4. Increased personal well-being
5. Decrease of occupational stress
6. Increased collaboration in the workplace
7. Leaders that inspire
Going back to my example with casinos. When supervisors take the time and effort to get to know their employees, this is reflected on their work performance to customers. When a player is losing money at a blackjack table and is visibly upset, through the practice of EQ, the dealer can empathize and not take the player's frustration personally. In my past life, I have worked in the casino industry and know how difficult it can be as both a dealer and supervisor. By learning how to change the mindset of finding what is right as opposed to what is wrong, amazing results occur. This works through all aspects of life.
With proper time and commitment of practicing Emotional Intelligence, not only would your workplace succeed but your personal relationships build as well!