Career EQ

Is Emotional Intelligence just hype, or another self-help fad? Are we talking about soft outcomes, or actual bottom line impact? A number of studies have been conducted to investigate this, and the results are startling!

In a recent article Cary Cherniss, Ph.D. lists a sample of 19 cases wherein high Emotional Intelligence has contributed to significant bottom line impact. The full article can be viewed and read at this address:
http://www.eiconsortium.org/research/business_case_for_ei.htm
and I have included a snaphot below:

• Experienced partners from a multinational consulting firm were assessed on the Emotional Intelligence competencies. Those with higher EQ delivered $1.2mil more profit than the others.
• Competency research in over 200 organisations worldwide suggests that on a measure of the reasons for above-average employee productivity, 33.3% relates to technical skill and cognitive ability, while 66.6% is due to emotional competence (Goleman, 1998).
• In a large FMCG firm, using standard recruitment and selection methods, 50% of division presidents resigned within 2 years. Once selection based on EQ competencies began, only 6% left in 2 years.
• A study of 130 executives found that how well people handled their own emotions determined how much people around them preferred to deal with them (Walter V. Clarke Associates, 1997).
• IT sales reps who were hired based on their emotional competence were 90% more likely to finish their training than those hired on other criteria (Hay/McBer Research and Innovation Group, 1997).
• Financial advisors at American Express whose managers completed the Emotional Competence training program were compared to an equal number whose managers had not. During the year following training, the advisors of trained managers grew their businesses by 18.1% compared to 16.2% for those whose managers were untrained.

Australian Employers Value EQ
In a recent survey by Graduate Careers Australia, it was found that 10% of employers cite low Emotional Intelligence as one of the key reasons they do not select candidates for a graduate position: http://www.graduatecareers.com.au/content/view/full/47

Your Say
What are your thoughts? Do you agree, do you think it’s all a load of rubbish? Have you hired candidates who have demonstrated high or low EQ? If so, what has been your experience of their performance and behaviour on their team? Share your thoughts and stories with us.