Why EQ outranks IQ in todays workplace
People and workforce
People and workforce
While a high intelligence quotient (IQ) has long been regarded the key predictor of one’s success in the workplace, studies show that emotional intelligence (EQ) actually has a far stronger influence on job performance and career progression. What exactly is emotional intelligence, why is it so important in the modern workplace and how can you develop your EQ to ensure your success in the workplace and beyond?
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:
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.’
While science is on the fence about whether a person’s IQ is fixed or not, the excellent news is that with a little practice and persistence, we can absolutely improve our EQ. In fact, studies show that a person’s emotional intelligence tends to rise over time, and is still developing in one’s twenties, thirties and even forties.
Here are a few tips on how to actively develop your EQ: