Why EQ outranks IQ in todays workplace

While the term ‘emotional intelligence’ is commonly used today, most people have a fairly vague understanding of what it encapsulates. The term was originally coined in 1964 but gained popularity in 1995 when Doctor Daniel Goleman published a book on the concept. 

According to Dr Goleman, emotional intelligence comprises four main characteristics:

1. Self-awareness. Dr Goleman describes this as ‘knowing what you're feeling, why you feel it, how it makes you think and want to act, how it shapes your perceptions.’ Being able to label an emotion you’re feeling and understand the cause behind it is a sign of high emotional intelligence. Additionally, being aware of – and able to own – your strengths, weaknesses and motivations demonstrates a high EQ.
2. Self-management. According to Dr Goleman, this step builds on self-awareness, by ‘using that information to manage your emotions, in a positive way. To stay motivated, to stay focused, to be adaptable and agile, instead of rigid and locked in.’ Are you able to control your emotions during a stressful situation? Are you able to adapt to change? 
3. Social awareness. This component of emotional intelligence requires practicing empathy. According to Dr Goleman, it’s about ‘understanding how someone else feels without them telling you in words, because people don't tell us in words, they tell us in tone of voice and facial expressions.’ Are you able to ‘read the room’, picking up on body language, gestures and other non-verbal cues? People with high emotional intelligence will rarely be surprised by a person’s behaviour – they will have seen it coming through their ability to read other people’s non-verbal communication. 
4. Relationship management. Dr Goleman defines this final component of emotional intelligence as putting that all together to have effective relationships.’ When combining self-awareness, self-management and social awareness, we are able to communicate effectively and have a positive influence over other people’s emotions.

Multiple studies support the fact that emotional intelligence is a stronger indicator of success than one’s IQ. A study by the Carnegie Institute of Technology shows that 85 per cent of a person’s financial success is due to people skills (EQ), while just 15 per cent of their success is attributable to technical skills. 

Another study found that only 25 per cent of job successes are predicted by IQ; the remaining 75 per cent of job successes are predicted by one’s level of optimism, social skills and ability to effectively manage stress (all components of EQ).

Technology is rapidly changing the world as we know it. As we grow ever more reliant on artificial intelligence (AI), automation, tools and systems, we have less need of technical skills. Machines can easily replicate many skills and abilities that fall under the IQ bracket – and far exceed human capabilities in the process. However, it is far more difficult for a machine to replicate emotional intelligence, which means people with a high EQ are becoming increasingly valuable in the workplace. 

According to a survey which asked 750 executives and 1,500 non-supervisory employees across the globe about emotional intelligence, 74 per cent of executives and 58 per cent of non-supervisory employees believe emotional intelligence will become a ‘must-have’ skill in the future. The survey forecasted that the demand for emotional intelligence skills will multiply about six times between 2019 and 2024. Emotional intelligence is no longer seen as merely ‘nice to have’ but rather, as a core capability for our modern workplace. As Dr Goleman puts it when describing the modern-day jobseeker: ‘it’s no longer enough just to be smart.’