Emotional Intelligence (EQ): The key to climbing the career ladder and achieving success in the corporate world

In today’s fast-paced corporate world, technical skills and knowledge are just table stakes. The real game-changer is Emotional intelligence or EQ as it is popularly known. An unsung hero in the narrative of career success, EQ is a critical factor that separates competent professionals from truly effective leaders.

In simple terms, EQ is an individual’s ability to recognise, understand, and manage one’s own emotions and those of others. It generally involves exhibiting skills such as empathy, self-awareness, social awareness, and relationship management. While Intelligence Quotient (IQ) may determine a person's technical capabilities, EQ is what helps us to drive interpersonal efficacy.

The Word Economic Forum's Future of Jobs 2023 report has pegged emotional intelligence as the number one leadership skill for 2024. As per the report, businesses are emphasising on qualities such as resilience, curiosity, lifelong learning, motivation, and self-awareness, which are associated with EQ and this trend will continue for the next few years.

How EQ can be a game changer when it comes to rising up the career ladder?

Let’s deep dive!

Leaders with high EQ understand and respond to the needs and emotions of their employees, resulting in higher levels of engagement and productivity. This puts them in the position of creating an environment that fosters collaboration and innovation. Also, when it comes to decision making, the same leaders are then adept at considering the impact of their decisions on others. This allows them to make choices that align with the organisation’s goals and values without any bias, as they are able to manage their emotions and think logically in pressure situations.

Leaders with a solid EQ are able to resolve and manage workplace conflicts in an effective and holistic manner. This helps to encourage transparent and open communication, allowing for an environment, wherein there can be win-win solutions for everyone involved. We must also understand that managing and developing EQ is a journey on which an individual has to constantly learn and evolve. It is a skill that can be developed and honed over time.

Being self-aware is a big plus, as it allows individuals to manage and regulate one’s own emotions to understand what is triggering those. From this point, one can then go on to build and develop empathy, social interpersonal skills by being mindful, taking time to self-reflect and seeking timely feedback from others.

Organisations also play an effective role in inculcating emotional intelligence among their employees. It is crucial that relevant training and development programmes on emotional intelligence are conducted regularly to help individuals enhance their interpersonal skills and become more effective leaders and professionals. At KPMG in India, we have something called as ‘People Experience’. As the name suggests, this starts with putting people at the centre. It involves creating innumerable moments that accentuate positive emotions and good feelings for our colleagues throughout their journey with the firm, contributing to their emotional intelligence at the workplace. It also helps to create a culture that values empathy, collaboration, and emotional well-being, all of which can pave the way for them to gradually climb up the career ladder.Leaders with a solid EQ are able to resolve and manage workplace conflicts in an effective and holistic manner. This helps to encourage transparent and open communication, allowing for an environment, wherein there can be win-win solutions for everyone involved. We must also understand that managing and developing EQ is a journey on which an individual has to constantly learn and evolve. It is a skill that can be developed and honed over time.

In conclusion

Undoubtedly, emotional intelligence is a crucial factor for career success. It elevates leadership effectiveness, brings efficiency in decision making and helps to enable conflict resolution. By building and developing emotional intelligence, individuals can not only realise their professional aspirations, but also nurture and create a workplace where collaboration, innovation, and success go hand in hand.

Go develop and work towards investing in your emotional intelligence, as EQ is not just any other soft skill, it is the key to unlock, one’s potential in the evolving corporate landscape.

A version of this article was published by The Times of India Online. The same can be read here