Archive for category Business

Benefits of Emotional Intelligence Skill-building

Significant benefits in the three categories of decision-making, relationships, and health can be gained by increasing your Emotional Intelligence skills. Every behavior, every action and reaction, every situation you may encounter is impacted by the decisions you make, your relationships and your physical well-being. They apply to your family relationships as well as your business and professional interactions.

Decision Making

By becoming aware of what you are feeling in the moment you have information you can use to make a decision about what to say or do now. Developing emotional self-regulation skills allows you to quickly transform negative, draining emotions into more positive, productive ones, enabling you to think and act more rationally at any time. Your moment-to-moment decision-making is enhanced significantly. These skills will help prevent you from reacting and allow you to respond more thoughtfully and thoroughly. Being in control of your emotions has a huge positive impact on your performance, your effectiveness, your confidence and your motivation.

Relationships

Emotional Intelligence skills will not only empower you personally, they will have a positive impact on your relationships with others as well. For example, instead of blowing up when your project manager announces a deadline without consulting you, managing your emotional reactiveness enables you to remain calm, ask good questions, perhaps even influence the deadline – all the while preserving your good working relationship with your manager. In contrast, a breakdown in communication and barriers to working effectively would have been the result of a negative, reactive response on your part. You would have essentially lost ground in your relationship and would need to exert a great deal of effort and time to repair the damage. When relationships are maintained and enhanced, all parties benefit.

And at home, instead of putting a child who comes home with a lower grade than expected or a poor test score on the hot seat, you can show him you care and are concerned about him, and still maintain a firm but understanding approach to the situation. Think of the positive effect this is likely to have on your relationships with your children.

When using simple EI techniques, participants in my programs have been astounded by their children’s responses. For example an SVP of HR for a large organization discovered his son had charged a tank of gas on his credit card. His first thought was to get his son’s attention by grabbing a baseball bat and having a serious conversation. However, he was able to manage his emotions by using a simple, quick emotional management technique and asking himself, “How can I best handle this situation?”?As a result, he and his son discussed the situation calmly (no bat was involved). For punishment, his son was not allowed to drive his own truck for a week. When the son asked, “How am I going to get to work?” Dad’s reply was, “That’s your problem.” The next morning the son called his dad at work and thanked him for having a conversation instead of a yelling match.

This story demonstrates how managing emotions can have a significant impact. The conversation and interaction was very different than the usual, and the relationship was improved. And the dad was being a much better role model for his son.

Health

The third area affected by developing your Emotional Intelligence skills, but certainly not the least, is your health. Negative emotions fuel higher cortisol levels, often called “the stress hormone.Excessive cortisol levels, over time, can cause acid reflux, sleeplessness, asthma, ulcers, loss of bone mass and osteoporosis, low sperm count, redistribution of fat to the waist and hips, and fat buildup in the arteries, which can lead to heart disease and numerous other diseases (McCraty, Borrios-Choplin et al. “The Impact of a New Emotional Self-Management Program on Stress, Emotions, Heart Rate Variability, DHEA and Cortisol” Integrative Physiological and Behavioral Science 33(2):151-70, 1998). Mismanaged emotions, correlated with dysrhythmias in our Autonomic Nervous System, are associated with many diseases including asthma, chronic fatigue, depression, hypoglycemia, hypertension and many more. Learning to transform from negative emotions into positive productive ones throughout the day or night over a sustained period of time has been shown to have a positive impact on many health-related problems. In my programs, participants most frequently mention a significant elimination or reduction of sleeplessness, often in a couple of weeks.

Developing Emotional Intelligence skills is not difficult. People have realized the benefits in a very short period of time by applying simple, proven techniques consistently. They have reported improvements in all of the categories – decision-making, relationships and health.



By: Byron Stock

About the Author:

Specializing in the area of Emotional Intelligence skill-building, Byron Stock is devoted to making work a place where people flourish and productivity improves. Typical improvements in personal goals range from 30% to 50%. To learn about Byron’s quick, simple, proven techniques to harness the power of your EI, visit www.ByronStock.com.



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Emotional Intelligence – a Successful Transition Plan for the CEO

The Successor’s Dilemma – One of the toughest situations corporate boards face today is the emotionally charged issue of CEO succession. It’s also one of the most important decisions that a board makes. While much has been written about what management consultant Dan Ciampa termed the “successor’s dilemma,” the issue of succession is a dilemma for more than just the successor.

Often, when someone is brought in as a president or chief operating officer, with the implied or overt promise that they are heir to the throne, things don’t work out and the number two person leaves before ascending to the top job. These succession difficulties have more than just an internal effect. They can also affect the company’s stock.

A No-Win Situation

Why is this happening? Leadership transitions are fraught with emotional tension. There’s a lot at stake, and it is much more than a business transaction. Most boards, CEOs and successors find it difficult to handle the situation well because they are unprepared to manage the intense emotional turmoil that accompanies such a transition.

The power struggle between a CEO and his successor has gained a reputation as a no-win situation. Even if he names the successor, the CEO may have difficulty relinquishing the power and leaving a job that has been his identity.

Likewise, the successor faces a troubling Catch-22: he may be viewed as a threat by the CEO when he endeavors to demonstrate his leadership abilities. But if he holds back, he’s labeled as incapable of the leadership needed for the top job.

Everyone involved could experience worry, frustration, anxiety and even anger at times. While it’s unpleasant to feel these emotions, research has also shown that experiencing them actually inhibits cognitive functioning. It’s called cortical inhibition, or more popularly “emotional hijacking.” So the old saying, “I was so upset I couldn’t think straight” is actually true. Think about the last time you got mad at yourself for hitting a bad golf shot. What typically happens to your performance after that? It gets worse. When you experience negative emotions, you are not as likely to make the best decisions. Experiencing negative emotions is normal, but most people don’t know how to positively manage these emotional reactions. The situation often escalates into open hostility or conflict, and the board finds itself caught in the middle.

Planning for Success

The succession issue doesn’t have to be so painful and difficult. By preparing the board, the CEO and his successor for the process, it can be a win-win situation. This preparation includes making a plan, involving both the board and CEO in the process, and, of most importance, minimizing the emotionally charged transition by equipping the board, CEO and upper management ranks with techniques to manage their emotions.

When those involved in leadership transitions have improved their emotional intelligence (EI) skills, the likelihood of success increases. That begins with just acknowledging that a multitude of strong emotions are bound to occur in any leadership transition. Denying these types of feelings just makes the whole situation more difficult and more volatile.

Managing Emotions

How are emotional intelligence skills enhanced, so that emotional mismanagement doesn’t occur? Through simple strategies that can be learned and practiced, so that you can improve how you handle situations you perceive as threatening. Consequently, an overall management development strategy needs to include training in EI development.

While a few people have naturally high emotional intelligence, (just as some people are mathematical geniuses) most of us need some skill development in this area. Unfortunately, the typical K-12 educational system includes training in math, reading, writing and other subjects, but doesn’t address the key emotional management skills that are necessary for success. Neither do university curricula. In other words, if a person does not have high EI skills, it is not his or her fault. He or she simply never was taught those skills.

Developing your emotional intelligence skills is not something you can learn by reading a book or an article. It takes training and practice. But the good news is that it can be learned.

The hallmarks of a seamless succession process include effective emotional self-awareness, emotional self-management, and empathy on the part of the CEO, his successor, the existing and transitioning executive team and the board.

In other words, when everyone involved has developed skills in the emotional intelligence competencies, the whole transition runs more smoothly. This includes not only the board but also everyone at the executive level who plays a key role in a successful transition.



By: Byron Stock

About the Author:

Byron Stock guides individuals and organizations toward excellence by helping them develop their Emotional Intelligence skills as a powerful tool to achieve strategic objectives, lead change and create resilient, high-performing organizational cultures. Learn about Byron’s quick, easy, proven techniques to harness the power of your Emotional Intelligence at www.ByronStock.com.



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Emotional Intelligence – the Business Case

Emotional Intelligence (EI) is critical in business. The emotions that leaders, employees, and customers feel impact the bottom line of companies and the effectiveness of government and non-profit organizations.

In their Harvard Business Review article, “The Service-Profit Chain,” Hesket et. al. identified a chain of factors driving profitability in a company. Their factors revealed that effective leadership is critical to profitability. The emotions that leaders experience impact the climate and culture of an organization as a whole. More specifically, leaders’ emotions impact

- What employees feel

- The satisfaction employees experience with their company and their work

- How loyal they are and their willingness to give extra effort.

- How productive and efficient they are.

How employees feel and perform their work impact how customers feel, how satisfied they are with both products and services, and ultimately how loyal a customer is to the company or organization. And how loyal customers are has a direct impact on the bottom line and profitability of an organization.

Notice that the foundational element in this set of relationships is leadership. It does not say CEO or Executive Vice President or Director. It says leaders. The in-charge person in every work team, every manager, and every individual in the organization is a leader. Self-leadership is one of the most important factors to focus on in skill development. Whether at work or at home, self-leadership is the internal ability to lead oneself to make the best decisions or choices throughout the day moment-to-moment.

Both positive and negative emotions impact everyone in organizations and the customers they serve. For example, negative emotions may result in poor performance, high stress, increased conflict, low morale, lack of trust and teamwork, more errors, poor quality, increased turnover and more. In turn, these problems may decrease customer satisfaction and increase customer complaints and defection. Ultimately, profitability can be negatively impacted.

Impact:

We can discover the significant impact negative emotions can have on the organization by asking a few questions relating to these problems:

- Which of these problems have you experienced in your organization?

- What is the impact on performance, business objectives, and key initiatives?

- What could your organization achieve if these problems were minimized?

Value of Developing Emotional Competence:

The critical value of developing the Emotional Competence of leaders is supported by additional research. Daniel Goleman, author of Emotional Intelligence, examined competency studies of 200 large global companies and reported the following results in the Nov./Dec., 1998 Harvard Business Review:

“When I calculated the ratio of technical skills, IQ, and emotional intelligence as ingredients of excellent performance, emotional intelligence proved to be twice as important as the others for jobs at all levels.”

His conclusions about senior leaders were even more telling…

“When I compared star performers with average ones in senior leadership positions, nearly 90% of the difference in their profiles was attributable to emotional intelligence factors rather than cognitive abilities.”

Impact on the Bottom Line:

Several studies reveal a direct impact of the organization’s leadership on its bottom line. In the same HBR article (see above), Goleman shares the following findings:

“David McClelland found that when senior managers had a critical mass of emotional intelligence capabilities, their divisions outperformed yearly earnings goals by 20%. Division leaders without that critical mass under performed by almost the same amount.”

In his book Primal Leadership, Goleman, et. al. provides further evidence of the impact of emotional intelligence on the organization’s profitability:

“A study found that the more positive the overall moods of people in the top management team, the more cooperatively they worked together – and the better the company’s business results.”

“In a study of nineteen insurance companies, the climate created by the CEOs among their direct reports predicted the business performance of the entire organization: In 75% of the cases, climate alone accurately sorted companies into high versus low profits and growth.” (Cited in Primal Leadership – research by David McClelland, “Identifying Competencies with Behavior-Event Interviews,” Psychological Science 9, 1998 and David Williams, “Leadership for the 21st Century,” Life Insurance Leadership Study, 1995.)

The Results:

The effects of EI skill development are far-reaching. They go beyond just leadership competencies or management skills. It’s difficult to identify any other organizational improvement intervention that has the potential to positively impact so many organizational problems concurrently. EI skill-building training enhances and complements other values-based and principle-centered programs by providing practical “how-to’s.” EI skills are foundations skills enabling people to improve the “how” of achieving results.

EI training results can be significant. During post-program impact interviews, participants have reported improvements that range from 15% to 35% increased teamwork, 20% to 35% increase in personal productivity, 20% to 40% reduction in stress and worry, and similar improvements in personal motivation, management of emotional reactiveness, work/life balance, creativity and more.



By: Byron Stock

About the Author:

Specializing in the area of Emotional Intelligence skill-building, Byron Stock is devoted to making work a place where people flourish and productivity improves. Typical improvements in personal goals range from 30% to 50%. Learn about Byron’s quick, easy, proven techniques to harness the power of your Emotional Intelligence in his new book, SMART EMOTIONS for Busy Business People available through his website http://www.ByronStock.com



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