Emotional intelligence is a term that is thrown around a lot these days —one that is certainly worth understanding.
Role of Emotional Intelligence in Business
Long gone are the days where management meant intimidating people to do their job. Today, qualities such as teamwork and communication must reign supreme in the workplace, if you want to attain the results you are looking for. Successful management has a lot to do with democracy, not imposed authority. That's where emotional intelligence comes in.
Simply put, emotional intelligence is the ability to identify and understand emotions and how they impact peoples behavior or response —including yourself. Having a high degree of emotional intelligence allows you to understand your emotions, the emotions of others, and how they interact with each other.
Impact of Emotional Intelligence in Business
As a business owner, one of your primary responsibilities is to be understanding and motivate your team. For this reason, being sensitive to, and conscious of the emotions of those around you is an essential trait in business. Emotional intelligence allows you to foster a work environment where teamwork, open communication, and respect are the foundation. It keeps you away from being an authoritarian manager and helps you develop better strategies to keep your team engaged.
Here are some of the reasons why emotional intelligence is so valuable for managers and entrepreneurs.
Helps Improve Self-Awareness
Being able to identify and understand your own emotions minimizes the possibility of them running wild and impairing your decision-making.
Makes Room for Effective Communication
Emotional intelligence equips you with empathy, problem-solving, and social skills, which not only help you have more in-depth and meaningful conversations; it also enables you to dig deep to find solutions.
Solidifies You as a Leader
Bossing people around doesn't help you be a better leader. Emotional intelligent leaders cultivate respect, good morale, and help their teams understand the vision, and what needs to be done to attain that objective.
Makes You Sensitive to the Needs of Your Customers
Empathy and communication are the best tools to identify and understand customer needs, allowing you to fine-tune your processes and give your customers precisely what they envision.
Business is built on relationships. Emotional intelligence is a crucial ingredient for the success of your independent insurance agency.