In these days when businesses are growing and there is a need to hire more people or replace positions which are left vacant when people are being poached, terminated or retired from work, how can one determine the right people to hire?
Nowadays, employers realized that to have quality employees, new hires should have higher emotional intelligence quotient (EQ) than intelligence quotient (IQ) alone. Good moral character too, should go hand-in-hand with high EQ. For if a person has a high EQ, it goes to show the person’s values are also commendable.
People with high EQ are more productive at work, would likely stay longer in the company, and would be likely successful leaders because studies show EQ has more influence in the success of an individual than IQ.
While IQ measures your ability to solve problems in a logical manner, EQ measures your ability or skills to understand and manage emotions - both yours and other people. While you cannot control the emotions of other people at least you can understand where they are coming from.
In the nature of our industry where CPAs are needed (and I am not only speaking for our firm) and there is a sore lack of it, there is a temptation to hire right away CPAs even without proper screening. But not all CPAs have high EQ and these are not being taught in schools. Many new CPAs for instance if not all, are there more for the money and the first one to poach them with the highest offer they will leave once they feel dissatisfied. Of course, there are CPAs with high EQ and stays long but these are people whose values are ingrained in their character through experiences and lessons in life and not necessarily taught elsewhere.
Common five key elements to EQ are - self-awareness, self-regulation, motivation, empathy, and social skills (source: mhanational.com). The person should be able to know himself well or else he will be reactive to circumstances rather than proactive. The knowledge of one’s feelings and emotions and how these emotions impact others through their reactions are something that high EQ people have. They are also able to avoid making impulsive decisions and thus their decisions are more objective. It also takes humility to recognize one’s weaknesses and strengths and so understand oneself well, why they react in such a way in different situations. More than the knowledge of these feelings is the ability of self-regulation or restraint which is easier said than done. To control what to say and what to do when emotions are high do not come easily but not impossible.
Highly motivated people are also high in EQ. They do not only learn to motivate themselves but others too. When faced with difficult situations they see it as an opportunity to use their creative skills to find solutions and learn all they can in the process. Thus, instead of being discouraged they are further motivated to do better. They do not wait to be given a task but approach their superiors for jobs they can help to do – working as a team not only for individual gains.
When their superiors or peers act in a way that maybe offensive to them, instead of being resentful, high EQ people try to see and understand where those actions are coming from. People have blind spots and so are you and everybody around you. It is just a matter of having empathy and be sensitive why people act the way they should.
If you are lonely by yourself most of the time, try to be more approachable or be the first one to make connections with those around you. This is also associated with having the right social skills. Communicate with others effectively and avoid office gossips especially when you are new. If you cannot say something good about a person, then keep yourself from saying anything except for constructive evaluation of a person’s behavior which you can bring up directly to your superiors or if you have the chance, talk directly to the one being offensive. Talk to that person instead of talking about that person to other people.
It may not be taught in schools but having high EQ can be learned through constant practice. You may fail once in a while but if you persist, you will reap greater rewards later more than having a high IQ. It will not only benefit you but also others as you try to build a better work environment around you.
For employers, focus too in screening the right applicants by not only testing their knowledge and intelligence but their emotional intelligence as well. You will save yourself from time and effort and cost from hiring the wrong people.
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Wilma Miranda is a Managing Partner of Inventor, Miranda & Associates, CPAs, Chair of the Ethics Committee of FINEX and member of the Board of Directors of KPS Outsourcing, Inc. The views expressed herein do not necessarily reflect the opinion of these institutions.