EQ May Be The Greatest Equalizer

Why is an emotional intelligence important to your organization? According to an article in Fast Company, teams with higher EQ foster engagement and teams with higher engagement are:

  • 50% more likely to have lower turnover
  • 56% more likely to have higher-than-average customer loyalty.
  • 38% more likely to have above average productivity
  • 27% more likely to report higher profitability

Over the past ten years, one of business’ most lamentable refrains has been, “We can’t find people equipped with the soft skills” needed to do a job. I know because my clients experience the same hiring challenges that you have.

Apparently there is no shortage of people with hard skills and knowledge. They get hired but don’t stay hired. Or worse, they stay hired and don’t produce! So what are the soft skills, people lack? Experience has taught us the soft skills are the habits and attitudes people bring to work. Habits and attitudes are the culmination of our experiences up to this point in our lives, or “How we think”.  Researchers and social scientists now call this experiential summary, our Emotional Intelligence (EQ). Unlike, IQ which is relatively fixed, EQ is continually influenced by our experience, messages, and feelings.

The best news is that EQ competencies are measurable and learn-able; they can be improved through training and coaching. An Emotionally Intelligent organization uses EQ training to:

  • Improve recruiting
  • Improve performance
  • Improve leadership performance
  • Improve organizational climate
  • Reduce absenteeism
  • Reduce costs of turnover

Does EQ Development Really Work?

Research has provided clear evidence that emotionally intelligent companies are more successful. Many of these studies yield bottom-line results:

  • At PepsiCo, executives selected for EQ competencies generated 10% more in productivity.
  • High EQ sales people at L’Oreal brought in $2.5 million more in sales.
  • An EQ initiative at Sheraton helped increase market share by 24%.
  • The US Air Force uses EQ to screen para-rescue jumpers to save $190 million.

In Turn the Ship Around! retired Navy Captain L. David Marquet and commander of the nuclear submarine USS Santa Fe describes how a “boat” culture with low emotional intelligence had to improve its emotional EQ to become one of the most efficient and productive submarines in the U.S. Navy.

Usually, “rocking the boat” is not a good thing, but in Captain Marquet’s situation, he first had to rock the boat to gain attention and set an emotionally intelligent course correction.

 

Commit to Self Awareness

In my last post about the 15 Commitments to conscious leadership, I wrote of taking full responsibility for the circumstances of our lives. I met a prospective client the other day, and all he could do was complain about what was wrong with the world, how the economy was negatively affecting his business. He was sometimes the villain, sometimes the “wannabe” hero and most often the victim.

It is easy to fall into that downward spiral of negativity. It is like an undertow, once you get pulled into one it is difficult to get out. We struggle against the pull, lose energy and perhaps drown. Often, the negativity affects others, and they pull us down as well. When we find ourselves drifting “below the line”, we must consciously shift to get back above the line.

This situation brings us to the second of the 15 Commitments. “I commit to growing in self-awareness. I commit to regarding every interaction as an opportunity to learn. I commit to curiosity as a path to rapid learning.” (The 15 Commits of Conscious Leadership).   Richard Boyatzis and Annie McKee, in their book Resonant Leadership refer to this commitment as “mindfulness, being awake, aware and attentive of everything happening around them and within them.”

People who have not mastered this commitment are more concerned to being right to seeing that “this” situation as something that is happening to me. They commit to be defensive especially when they are certain that they am right. Politicians, celebrities, and business leaders often fall below the “line” when it comes to this commitment, as are parents, teachers, and policemen. It happens to all of us. We all drift below the line. Conscious “shifting” to get back above the line is the key to building this strength.

I’ve helped hundreds of people discover their values, motivators, strengths, behaviors and challenges, but only a few take advantage of the knowledge. It is far easier to slip into their warm habits of fecklessness and lethargy and not change. In other words, they miss the opportunity to raise their EQ (emotional intelligence).

Harvard Business Review’s (HBR) 1997 article on EQ by psychologist and author Daniel Goleman ranks as their most requested article ever. In 2003 HBR re-examined EQ data and reached this conclusion:

“In hard times, the soft stuff often goes away. But emotional intelligence, it turns out, isn’t so soft. If emotional obliviousness jeopardizes your ability to perform, fend off aggressors, or be compassionate in a crisis, no amount of attention to the bottom line will protect your career. Emotional intelligence isn’t a luxury you can dispense with in touch times. It’s a basic tool that deployed with finesses, is the key to professional success.”

New Certifications

 

EEOC and OFCCP-compliant assessment company distinguishes Terry Barnhart with two professional certifications in CPBA and CPMA certifications.

Modesto, CA, July, 2013 – TTI Success Insights, the world’s leading source for research-based, validated assessments has designated Terry Barnhart of The Corporate College a Certified Professional Behaviors Analyst (CPBA) and a Certified Professional Motivators Analyst (CPMA) in June 2013.

With the CPBA certification, Barnhart is qualified to help individuals attain a greater knowledge of themselves as well as others. Bill J. Bonnstetter, Chairman of TTI Success Insights and Target Training International said, “In order to understand our relationships with other people, we must first understand ourselves.” The ability to interact effectively with people may be the difference between success and failure in one’s work and personal life, and effective interaction begins with an accurate perception of oneself.

With the CPMA certification, Barnhart is qualified to help individuals attain a greater knowledge of the why of their actions, which with application and coaching can tremendously impact an individual’s valuing of life. Once a person knows the motivations that drive his or her actions, that person will immediately be able to understand the causes of conflict.

Dedicated to making organizations better through the design, education and implementation of assessment-based talent management solutions, TTI Success Insights maximizes the performance and satisfaction of employees, while increasing business results for corporations around the world. With its validated, EEOC compliant assessment tools that are free from adverse impact, TTI Success Insights operates through a global distribution network of independent consultants, coaches, speakers, trainers and strategic partners. Serving a domestic client base of Fortune 1000 companies, its international clientele exist in 90 countries worldwide. More information at www.ttisuccessinsights.com.

 

Certifications

 

August 19, 2013

TTI Success Insights, the world’s leading source for research-based, validated assessments has designated Terry Barnhart of The Corporate College a Certified Professional Stages of Growth Strategist on July 26, 2013.

 

With this certification, Barnhart is qualified to perform an X-Ray to determine a company’s current stage of growth; critically assess a company’s past, present and future to get CEOs focused on the right things at the right time; and identify the hidden agents – defined as 27 Challenges – that are impacting the company’s ability to grow, and develop a plan to solve those issues.  For more information, contact Terry at 209-484-3586.  Visit his website at thecorporatecollege.biz.

Corporate College Executive Briefing – Get Ready for the New Economy

Corporate College Executive Briefings

 

Talent Management:  Key to   

Economic Recovery 

During this period of economic contraction, many businesses have required employees

to “do more with less”!   In some instances, businesses have moved from lean to dysfunctional just to survive.  It doesn’t have to be this way.  Recruiting and retaining top talent for your organization will be the key to your economic recovery.

 

Talent Management starts in the hiring and selection process. Hiring the right person for the right job is an essential but often overlooked requirement. Most hiring managers hire from their intuition, not foundational research.  We recommend using assessments first to get a clear view of the job being filled, then matching candidates before making a job offer.   A solid assessment process ensures the candidate matches the requirements of the job. Combining interviews, background checks and assessments removes subjective bias associated with most hires.

 

In fact a study by  John E. Hunter and Ronda F. Hunter, “Validity and Utility of Alternative Predictors of Job Performance” reflect chances of a good hire as:

0%for a Flip of a Coin

14% for an Interview Only

26% after adding Background Checks

38% after adding Personality Testing

54% after adding Abilities Testing

66% after adding Interest Testing

75% after adding Job Match Testing

 

 

So if you’re wondering why the previous hires have not worked out, now you know why.

 

The economy will recover, so start making plans for economic expansion.   Talent Management should not only be on your radar screen, it should be a top priority.

 

Why is talent management so important? According to Deloitte’s recent survey, Talent 2020, 31% of current employees say they are not satisfied with their jobs. In addition, 20% say they plan to leave their current employer within the next year. As you can see, it would be wise to give some attention to your talent management strategy. Here are a few ideas.

 

 

Employee Retention Starts With Job Satisfaction 

 

A key to having satisfied employees is having specific accountabilities for each job.   In their classic work Gung HO!, Dr. Ken Blanchard and Dr. Sheldon Bowles said there are three essential principles to having productive employees:

 

1.  Worthwhile Work – Ensuring employees know their work is worthwhile.

2.  Control of Goal Achievement – making sure employees are in control of achieving the goal.

3.  Cheering Each Other On – Ensuring we are cheering each other on, and celebrating successes.

 

Unfortunately, most employees work against a two page job description instead of clearly defined accountabilities.  And then the employees don’t know how they’ve done until the annual review is conducted, and those are usually late!

 

Find Out What’s Going On

 

If you want to know what people think, just ask them. Conducting an employee survey provides insight into what aspects employees feel are going well and those that are not.     Employee surveys are only as good as the trust level in the organization. In other words, if you have a high trust level in the organization, you will have good survey data with which to work.

 

If you want to know more, ask your customers!

 

We recommend using an independent firm to conduct any survey.   We believe that employees and customers respond openly and honestly to an independent firm, even in organizations that have a low trust level.

 

Be prepared to take action on what you discover. Diagnosing a problem is important, but ignoring it is malpractice!

 

Invest In People Development

 

In distance racing, the speed of the pack is always equal to the pace of the leader. It’s the same with organizations.  Effectively paced organizations reach their goals. Leaders are learners, and effective leaders continually hone their skills and develop leadership abilities in communication, employee engagement, coaching and mentoring, and discipline.  Yet, in hard economic times, one of the first budget cuts is training and development.  It’s time to start training people again.

 

Effective leaders create environments where employees are fully engaged in their work and by the work they do. When executives, managers and supervisors create a positive vision of WHY the work is important, they create a positive workplace.

  • turnover goes down, productivity goes up;
  • customers are loyal, profits go up;
  • conflicts are resolved and organizations grow.

 

Evaluate your leaders today and validate the gaps in leadership behaviors.

Start training leaders.

Training and development dollars are almost always invested in skill and knowledge, and very seldom in attitude and behaviors.

People are almost always hired for their skills and knowledge, and almost always fired for their attitudes and habits.

 

Evaluate the effectiveness of your teams, and realign your teams to focus on key goal categories that can be measured.

 

 

Conclusion

 

Ask for help.  We’ll help you get identify the gaps, develop your staff, make better hires, reduce turnover, and help you grow your business.  Make plans now for the coming economic expansion. Take advantage new opportunities.

Economy Shift Requires Shift in Marketing

Most headlines today refer to an economy in a downward spiral, unable to pull it self out of the looming, economic death spiral.  In my opinion, the downward spiral is simply a dramatic indicator of the market shifting.  We’re witnessing a very significant “paradigm shift” in our economy, and most people are waiting for someone else, namely the government, to stop the shifting. I’m no economist, but I do run a business, and no I don’t trust the government.

Shift happens, and those who fail to recognize the shift and shift with it are doomed to long term recovery.

Today’s savvy business person recognizes that thriving in this chaotic shift will require the collaboration of many.  We need friends, colleagues and strategic business partners to thrive in this new environment.   The traditional methods of advertising and marketing are too expensive, too cumbersome and too time consuming to assure business success.

So how do we go about adapting to the shift?  We adapt by returning to the very basics of business development.  We network!  We network person-to-person, face-to- face.  The old adage of “It’s now what you know, but who you know,” is no longer enough.  In addition, “It’s who knows you, and when do they know you?”  These days, prospective customers need to know you, like you and trust you before they decide to buy.  The time you invest in networking to build these relationships, are worth far more than the relationships you may build by buying advertising.  Plus, the value of an extremely satisfied customer will lead to additional referrals you didn’t have to pay for.

Where do you network?  Anywhere, but each place requires careful attention.  I recommend five places to network.
1.    At a “Closed Networking Group” like Gold Star Clubs or Business Network International.  Here, you meet weekly with your fellow club members to get to know, like and trust each other.  It is said that each of us are easily connected to about 250 people, so each incremental member of your organization has an exponential network of 250, so if there are 25 people in your club, you have the possible connectivity to 6,250 others.  For most people, this weekly meeting represents a fundamental change in the way they conduct business, or even schedule their daily lives.  The potential benefit, however, is huge.  I recently received a referral with a value of over $10,000.00 from a person who knows me, likes me and trusts me because I took the time to get to know him, like him and trust him.  What’s a little time for a referral like that?
2.    At Chamber networking coffees, and social hours.  These events are for introductions and data gathering.  Meet new people and get information about them.  Follow up with them later.  There’s a whole method to type of networking, but here are a few hints.  One, eat before you go because it’s hard to talk with your mouth full, and you hands on drinks and food.  Two, stay away from alcohol, it tends to get you to say stupid things, and you can’t fix stupid.  Three, have a plan to meet specific people, or a number of people.  Exchange contact information, get permission to call and move on.  Four, follow-up, and quickly.
3.    Professional associations.  Go to where your prospects are members.  For example, I attend meetings where medical professionals meet.  I pay a little more for being a visitor, and I get to meet lots of key prospects.
4.    Civic organizations.  Typically, these groups frown on business networking, but you can get to know key people here.  You follow up on business later.
5.    Your own events.  This is a little bit of a stretch for most people, but if you don’t stretch you don’t grow.  My personal goal is to speak on networking or business development at least once every month.  Sometimes I sponsor my own events through local chambers of commerce.

Our business environment is shifting.  Recognize the shift as an opportunity.  Fortunes are made during recessions, too.  You just have to do some things differently, if you want a different result.