Organizations continue to focus on reducing costs and improving employee productivity. Many orgs have also started to incorporate emotional intelligence (EI) training into their development programs. These initiatives are more connected than perhaps they first appear.
Perhaps most importantly, the EQ-i 2.0 model of emotional intelligence is an effective tool for organizations seeking a competitive advantage by offering strategic training and development. It’s effective and efficient.
The EQ-i 2.0 model of emotional intelligence is a scientifically validated assessment instrument that measures an individual’s emotional and social functioning. The assessment is based on five key skills areas: self-perception, self-expression, interpersonal, decision-making, and stress management. By understanding and applying these skills which are highly correlated with emotions, individuals can develop strategies to improve their effectiveness and enhance their relationships, decision-making, and overall well-being.
But there are indirect cost-saving opportunities as well. One of the key benefits of incorporating the EQ-i 2.0 model into an organization’s culture is the potential for reducing year-over-year workforce costs like hiring, onboarding, training, productivity loss, decreased engagement. Employees who have high levels of emotional intelligence tend to have better relationships with their colleagues, managers, and customers. This can lead to fewer conflicts and misunderstandings, which can result in less conflict, fewer legal matters, reduced absenteeism, and less turnover. These can have a huge savings for any organization.
Additionally, employees with high levels of emotional intelligence tend to be more resilient in the face of stress and change. This can lead to increased productivity and better decision-making, even during difficult times. By providing employees with the tools and skills to innovate and navigate challenges, organizations can reduce the negative impacts of stress on their workforce and ultimately, their bottom line.
Incorporating the EQ-i 2.0 model into an organization’s training and development strategy can also lead to increased employee engagement and satisfaction. Employees who feel supported and valued by their organization are more likely to be motivated, productive, and committed to the company mission.
In an August 2022 Issue Briefing, The Conference Board of Canada reported that training and development rank as one of the most important employee considerations when choosing to accept a new position or stay with an organization. For instance, one study found that 94 per cent of employees would stay with a company longer if their company invested in their career development. Another study found that 37 per cent of employees would consider leaving their organization if training and development were not offered, while 79 per cent indicated that training opportunities are important when job searching.
Finally, the EQ-i 2.0 model can help to create a positive work culture. By promoting emotional intelligence skills like emotional self-awareness, empathy, and social responsibility, organizations can create a more supportive and collaborative work environment, where employees feel safe to express their ideas and opinions. This can lead to increased creativity and innovation, as well as improved teamwork and communication.
Emotional intelligence skills development is a valuable tool for organizations looking to maximize the return on their deployed resources, while also improving employee engagement and satisfaction.
Investing in emotional intelligence training through the EQ-i 2.0 model can be a smart and strategic investment for any organization looking to boost their bottom line.