The Business Case for Emotional Intelligence Lee Elliott Vice President for Human Resources and Fund Development Saint Francis Medical Center Grand Island, Nebraska

What is emotional intelligence?

…the ability to perceive emotions, to access and generate emotions so as to assist thought, to understand emotions and emotional knowledge, and to reflectively regulate emotions and intellectual growth. -Mayer & Salovey, Mayer & Salovey, 1997

Common sense

Components of emotional intelligence

Identifying emotions The ability to accurately recognize how you and those around you are feeling

Using emotions The ability to use emotions to actually help thinking

Understanding emotions The ability to understand complex emotions and how one emotion leads to another

Managing emotions The ability to intelligently act on the data of emotions in your self and in others

In general, EQ involves: Being aware of and managing your emotions Having good interpersonal skills Being adaptable Managing stress well; and Having a positive general mood

IQ can’t be changed; EQ can

Older people More independent in their thinking and actions More aware of others’ feelings More socially responsible More adaptable Better at sizing up the immediate situation and solving problems Able to manage stress better

EQ is approximately the same for men and women 98 women, 100 men

Women Men Women Men Self regard Interpersonal relationship relationship Social responsibility Empathy Stress tolerance

What difference does EQ make at work?

U.S. Air Force Best recruiters scored highest on EQ competencies of Assertiveness, Empathy, Happiness and Emotional Self Awareness. Selecting recruiters based on this led to a $3M savings

Experienced partners at a multi-national consulting firm Those that scored above median on 9 of 20 EQ competencies Delivered $1.2 M more profit (139% gain)

300 top-level executives from 15 global companies Six competencies distinguished stars from average performers Influence, Team Leadership, Organizational Awareness, Self-Confidence, Achievement, Drive and Leadership

Research in over 200 companies and organizations worldwide In moderately complex jobs (sales clerk, mechanic), top performer is 12 times more productive than average performer

In most complex jobs (insurance salesperson, account managers), top performer is 127% more productive than average performer

1/3 of this difference is due to technical skill and cognitive ability

The remaining 2/3 is due to EQ

National insurance company Insurance sales agents weak in EQ competencies of self-confidence, initiative, and leadership sold policies averaging $54,000

Those strong in at least 5 of 8 EQ competencies sold policies worth $114,000

Center for Creative Leadership Primary causes for derailment in executives involve deficits in EQ –Difficulty in handling change –Not being able to work well in a team –Poor interpersonal relations

Trained supervisors on EQ competencies Manufacturing Plant

Lost time accidents reduced 50% Formal grievances decreased from 15 a year to 3 Production increased 17%

Managers of retail stores Those that scored higher on stress management Higher net profits, sales per square foot, and sales per employee

Study of 130 executives How well they handled their own emotions determined how much people wanted to work with them

Study of 515 senior executives EQ was a better predictor of success than either prior experience or IQ

Two lessons: 1. EQ competencies can be learned. 2. EQ enhancement is good for business.

What we are doing at Saint Francis Medical Center

Contact Lee Elliott Vice President for Human Resources and Fund Development Saint Francis Medical Center P O Box 9804 Grand Island, NE