The world of business is constantly changing. Every other day, you hear about experts launching new business tools and techniques that will totally revitalize your organization and take it to new heights of success. Similarly, the world has left recession far behind and economies across the world are flourishing. It is pertinent to discuss what future entails for business considering the new economic phase and what the role of HR managers is in identifying, nurturing and developing the leaders of tomorrow.
It is beyond doubt that world needs strong business leader to lead the journey further away from recession towards sustainable economic prosperity.
The Impact of Recession on Leaders:
Managers who led their organizations during the recession have a very specific psychology. For instance, they are afraid of question their surroundings due to lack of opportunities to grow, practically making them ineffective and a burden on the organization they work for. They are still occupied by the thoughts that they are lucky enough to have the job and will do nothing that can jeopardize their position. Everyone should feel sympathy for them but they are no longer suitable to lead businesses in 2015 because businesses nowadays cannot thrive in an atmosphere of fear.
In comparison to these leaders, their predecessors, who enjoyed great economic success before recession where usually characterized by an aggressive, confident and go-getting behavior. However, these are the leaders who simply don't tolerate questioning and opposition, creating a sort of bullying culture in the organizations. Sometimes these leaders were allowed to make poor decisions because there was no one to challenge their authority. The current business atmosphere has also made it cumbersome for such leaders to operate because their actions are called into question more regularly nowadays.
Emotional Quotient for Balanced Leadership:
It is quite obvious that these two styles of leadership are far from perfect and cannot produce great leaders for future. It is time for the businesses to redefine the way they train their future leaders. According to a research conduct by CIPD, whooping 36% of line managers have not received any formal training regarding their managerial role. Similarly, organizations normally consider employees' past performance rather than their leadership abilities when they assign them leadership roles.
Some experts argue that a good leader is a combination of best features of both recession and pre-recession leaders. However, both styles miss one extremely important aspect of leadership that is Emotional Intelligence. This is the ability perceive, measure and control your own emotions as well as that of others. Emotional intelligence is measured through emotional quotient and it affect how different people think and make decisions. Emotional quotient is vital to become a balanced and effective business leader.
The Emotional Quotient:
The emotional quotient has four different sections and it is necessary for a leader to develop all of them. These sections are self-awareness, social awareness, self-management and relationship management. These quotients help a leader to recognize and understand his and others' emotions in addition with developing the ability to manage them ant to use them to better interact with people.
A business leader can remarkable enhance his performance by developing all these areas. This also gives employees an impression that they you value and trust them, raising their morale in the process. It also helps leaders to improve their communication and decision making skills.
Unlike intelligence quotient, even adults can develop and improve emotional quotient. Similarly, both of them are not related to each other at all because a high intelligence quotient does not guarantee high emotional quotient. Leaders have to develop the ability to manage themselves and others properly instead of relying on intelligence alone to achieve success.
Emotional quotient has become an important business area to develop because it enables employees to engage with people, be more creative and offer plenty of new ideas, practically helping the business to grow and prosper.
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