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How Equitable Bank reshaped its culture for a future of mobile-first finance
By CO Staff afvyesdysbzbsvyytzxardfeqzxyqrvsq canadaone June 30, Hiring the right people can make your business a success. But how can you identify the best candidates? Softer skills are often just as important as talent and intelligence. CO -- Employers often say that they are looking for "bright" employees, but you've focused on a type of intelligence other than school smarts.
Could you tell us what EQi or emotional quotient intelligence is? MR -- In when Dr. Howard Gardner of Harvard University published his research on multiple intelligences, what was spoken about academically began to be discussed more dynamically among the general population. In when Dr. David Wechsler wrote in a psychological journal on what was then becoming quite well known -- the notion and testing of IQ or intelligence quotient -- he also tucked into his article a caveat. This caveat stated that before the world gets too excited about IQ as the 'only' way to look at intelligence, people must also keep in mind what he called 'non-intellective factors,' that is, those aspects of intelligence that were not simply factors that would measure a person's reasoning IQ self only.
Of course, as we know, for the next 60 years the universities, the researchers, and the educational system ignored these non-intellective factors and concentrated on IQ as the sine qua non of 'making it. While there is nothing 'wrong' with such measurements, the world also knows that mental intelligence or IQ is not creating our problems. We got to the issues much more quickly this way. It was with this kind of background knowledge that a psychologist named Dr. Reuven BarOn started his research in He wanted to know how was it that 'bright' individuals did silly, stupid, or unethical things in life.
In he coined the letters 'EQ' to refer to what we now know as emotional intelligence. In , after 17 years of cross-cultural research he published the Emotional Quotient-Inventory or EQ-i which is a scientifically validated and reliable measure of emotional intelligence.
I define EQ as follows: A very pointed way to visualize how challenging this can be is to reflect on the Greek philosopher Aristotle and his comment of anger: The intellect composes the message, and the emotions provide animation and grace. Emotion is to the message what music is to the lyric. Without the tune, would anyone ever remember the lyric? The skill to combine intellect and emotion in this dramatic and powerful fashion is emotional intelligence, and it possesses the power to elevate even the common exchanges of everyday encounters from the base level of me-and-you to the sublimity of I-and-Thou!
Finally, in my work today, both as a professor and as a organizational consultant, I constantly get the following question from business people, "We keep hiring all these 'bright' people, MBAs, graduates of this-or-that discipline, but in too many cases we have to let them go. They simply can't relate to staff. They don't say 'Good Morning,'; they treat support staff as slaves; they constantly give off this sense of entitlement; or they get mean if the stress is too much for them.
What they are talking about is this: CO -- In terms of the workplace, what are some of the most important components of EQi and how do these factors impact an employees performance? MR -- If we follow up on what Dr. Baron researched and was able to measure, we know now that there are five 5 main components of emotional intelligence.
These five component areas comprise fifteen 15 EQ abilities. I have provided the following table to illustrate these components and abilities with accompanying descriptions.
What is interesting about this Table is its three-fold EQ architecture: Recognize and understand one's feelings and emotions, differentiate between them, know what caused them and why.
Be attentive to, understand and appreciate the feelings of others, able to emotionally read other people. Understands duties and demands being placed on colleagues creates cohesive functioning; understanding others viewpoints helps make one a team player. Assess the correspondence between what is experienced the subjective and what in reality exists the objective.
Look at and understand oneself, respect and accept oneself, accepting one's perceived positive and negative aspects as well as one's limitations and possibilities. Builds better work attitudes and behaviours; better self-confidence leading to better performance. Self-reliant and self-directed in one's thinking and actions; free of emotional dependency; may ask for and consider advice of others, but rarely depend on others for important decisions or to do things for them.
People thinking for themselves, yet still listening to and utilizing ideas from others when appropriate. Demonstrate oneself as a co-operative, contributing, and constructive member of one's social group.
Contributing to recognized departmental and company goals; being aware of the greater good you and your group can contribute to society as a whole.
Look at the brighter side of life and to maintain a positive attitude, even in the face of adversity. Withstand adverse events and stressful situations without falling apart by actively and confidently coping with stress.
Establish and maintain mutually satisfying relationships that are characterized by intimacy and giving and receiving affection. Realize one's potential capacities and to strive to do that which one wants to do and enjoys doing. When I give presentations on emotional intelligence, I always frame this Table by asking the audience the following questions: Would you like a life whereby you could solve most of the problems that come on your plate each day?
Since all the hands have gone up in a typical audience, I then tell them, "If that's what you so desire, then you have to make sure the Core and Supporting factors are in place for you.
To help the audience get a more precise sense of realities in their life, I suggest the following metaphor:. Let's say you want to drive to a very special place with your friend or family. You are so looking forward to doing that. Consider that the resultant or end-result of what you want. Now consider your car and its condition. Has the engine had a recent tune-up? Are all the necessary pipes and fittings and electrics working well? Consider all this the core factors necessary for your car to run well.
Thus, it is easy for the audience to visualize all this, using the car metaphor. Everyone wants the end-result: But are all the other factors in good shape which, in our example, include the core and supporting factors?
We can also extend this metaphor to the workplace as well. In today's world, given the workplace emphasis on teams and managing stress, and the customer demand of oustanding customer service, managers are simply foolish to imagine that these results will happen automatically because they have 'bright' employees, for example.
IQ is simply the threshold today; it gets one in the door. After that, almost everything else depends on an employee's ability to navigate relationships -- with customers, with support staff, with colleagues, with subordinates, and with senior managers. These are all relationship demands.
The EQ-i measures a person's emotional fluency along a continuum from 50 to , with being a typical or 'average' score, similar to an IQ scale. When the EQ-i was first normed, 10, people were tested. I have had managers with scores of 32 and 37 on the EQ factor of emotional self-awareness! What we find is that these managers may be very 'bright' financially or from a marketing point of view, but in the way they treat staff, they are a total disaster.
Most of the reasons for the turnover can be attributed to the absence of EQ or emotional intelligence or relationship skills. Flexibility allows employees to respond more effectively when tasks are dynamic and changing and when they require reliability and consistency. And finally, Stress Tolerance allows employees to manage reasonable workloads, establish clear priorities, and meet realistic deadlines.
CO -- A number of 'soft' interview questions are crudely designed to evaluate how a person reacts to stress, but there are more scientific methods; how would you recommend that an employer assess a prospective hire's EQ-i and then evaluate this information when making a hiring decision?
MR -- There are some key human resource and ethical guidelines that I follow. It could be the case that low scores are the result of nasty managers.
This doesn't excuse employees or any staff from not coping more effectively with their emotional intelligence. It simply underscores the fact that the EQ-i results are contextually-dependent and at the same time valid and reliable. The trick is to change one's emotional response to obtain more effective results.
I call this emotional fluency. Emotional fluency is similar to reading fluency or language fluency: We could also call EQ as "gracefulness under fire. My practice as an EQ consultant, in a potential hiring situation for a company, is the following:. The EQ-i is administered to all potential candidates. They are told ahead of time that the EQ-i is valid and reliable measure of relationship skills and that the results will be used as part of the hiring process.
The HR department or any other department does not get a copy of the candidate's EQ-i Report for their files. The reason for this is that since EQ is 'growable,' in a year from now, depending on the context, this same candidate may have different scores on the EQ Report.
The EQ-i is a learning and development experience; it is confidential to the individual; and the company must be willing to invest in such a process. Provide candidates with the tools for them to do their work; stand back; and watch the incredible results that occur.
For those candidates who are not hired, their EQ-i Reports are destroyed. Some companies may want to thank candidates by providing an EQ coaching session as well; in that case the candidate will meet with me and have a hr. Cost per coaching session: What I have found is that organizations with emotionally intelligent leadership capability will provide such coaching sessions for all candidates. Not only is it good for the candidate, it also is great PR for the organization.
Word gets around; a good corporate reputation is priceless. Research has been completed on EQ and work success. Ideal profiles have been generated; ideal combinations of EQ factors for many occupational groups are now available.