Voices

Biz Tips: The Power of Emotional Intelligence in Leadership

March 19, 2024

Dr Janine Stichter

In the fast-paced world of business, where metrics and strategies often dominate, there’s a quiet yet potent force that can significantly influence success: Emotional intelligence (also known as emotional quotient, or EQ). For executives, understanding and harnessing the power of EQ can be the key differentiator between good and exceptional leadership.

I am often asked what EQ is and why it’s effective. So, I thought I would share some insights on the importance of emotional intelligence in leadership and provide practical strategies backed by research and business tactics for executives to enhance their EQ.

Emotional intelligence, as defined by psychologists Peter Salovey and John Mayer, encompasses the ability to perceive, understand, manage, and use emotions effectively in oneself and others. Research has consistently demonstrated the impact of EQ on leadership effectiveness, team performance, and organizational success. A study by Daniel Goleman, a pioneer in EQ research, found that leaders who exhibited high levels of emotional intelligence outperformed their counterparts by up to 70 percent.

Executives with high EQ possess a range of competencies that distinguish them as effective leaders. These competencies include self-awareness, self-regulation, empathy, social skills, and motivation. Strengthening these competencies is possible with deliberate effort and targeted interventions.

One of the most pragmatic strategies for enhancing emotional intelligence is the practice of pausing and reflecting before acting or reacting. Choosing to respond rather than react is another practical tactic grounded in emotional intelligence. Reacting impulsively to stressful or emotionally charged situations can lead to misunderstandings, conflict escalation, and damaged relationships. By consciously choosing to respond, executives can engage their cognitive faculties to assess the situation, regulate their emotions, and formulate a constructive and composed response that aligns with their goals and values.

Executive coaching is a valuable resource for executives seeking to enhance their emotional intelligence. Working with a coach (formally or informally) offers executives a safe and confidential space to explore their emotions, challenges, and goals. Through targeted interventions and reflective exercises, executives can identify their emotional triggers, blind spots, and areas for development, enabling them to cultivate greater self-awareness and self-regulation.

Another research-backed approach to improving EQ is mindfulness-based training. Mindfulness practices, such as meditation and mindful breathing, can enhance self-awareness, self-regulation, and stress management skills. A study published in the Harvard Business Review found that executives who participated in a mindfulness program reported increased focus, clarity, and emotional resilience, leading to improved leadership effectiveness.

Simple practices such as taking short mindfulness breaks during the workday, practicing mindful listening in meetings, or implementing mindfulness exercises in leadership development programs can promote emotional intelligence and well-being in the workplace.

Effective communication lies at the heart of emotional intelligence. Research has shown that communication skills, such as active listening, empathy, and assertiveness, are essential for building trust, fostering collaboration, and resolving conflicts. Prioritizing open and transparent communication channels within their teams fosters trust, collaboration, and mutual understanding. Executives can also leverage communication strategies such as reframing, paraphrasing, and asking clarifying questions to check that their messages are accurately conveyed and received.

Executives can also integrate emotional intelligence into their leadership practices by creating a culture of psychological safety within their teams. Psychological safety, as described by Harvard Business School professor Amy Edmondson, refers to a shared belief that it is safe to take interpersonal risks and express oneself without fear of retribution or embarrassment. Leaders can foster psychological safety by encouraging open dialogue, soliciting input from team members, and acknowledging and learning from mistakes.

Emotional intelligence is a foundational competency for effective leadership in the modern business landscape. By incorporating strategies such as pausing and reflecting, choosing to respond rather than react, investing in executive coaching, practicing mindfulness, honing communication skills, and fostering psychological safety, executives can enhance their EQ and lead with greater clarity, compassion, and effectiveness.

As the business landscape continues to evolve, leaders who prioritize emotional intelligence will drive organizational success as well as empower their teams to reach their full potential.