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Emotional intelligence and well-being in the business context
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Teaser

“Did you know that 90% of the most successful people have a high Emotional Quatient (EQ)? Did you know that only one-fifth of European companies find secret to combining optimal workplace wellbeing and business performance?”

  Video

Introduction to emotional intelligence and well-being

Overview on the concept of emotional intelligenceClick to read  

Emotional intelligence (EI) is the ability to recognize, understand, and manage our own emotions, as well as the emotions of others.

5 Key components:

Source: Goleman, D. (2006) Emotional intelligence: Why it can matter more than IQ

 

Why is EI important?

COMMUNICATION
Improves communication and relationships

SUCCESS
Facilitates personal and professional success.

MIND
Enhances decision-making and problem-solving

Check your Emotional Quotient (EQ) with this free test!
Overview on the concept of well beingClick to read  

Well-being is state of being healthy, happy, and prosperous.

4 Key components:

Why is well-being important?

PHYSICAL HEALTH
Improves overall quality of life

MENTAL HEALTH
Enhances emotional and mental health

RESILIENCE
Increases resilience and ability to cope with stress
How Emotional Intelligence and Well-being are related?Click to read  
Emotional intelligence for entrepreneurs

How develop emotional intelligence?Click to read  

SELF-AWARENESS
Understand your own emotions, triggers, and behaviors. Keep a journal or practice mindfulness techniques to increase self-awareness

SELF-REGULATION
Understand what drives you and set goals that align with your values and passions. Use positive self-talk and visualization to stay motivated

EMPATHY
Practice putting yourself in other people's shoes and understanding their perspective. This can be done through active listening, asking questions, and being present in conversations

SOCIAL SKILLS
Improve communication, collaboration, and conflict resolution skills. Take a class or workshop, or practice in your personal and professional relationships

MOTIVATION
Understand what drives you and set goals that align with your values and passions. Use positive self-talk and visualization to stay motivated

PRACTICE
Emotional intelligence is a skill that can be developed over time with practice. Regularly reflect on and work on your emotional intelligence skills, and seek feedback from others
Recommendations for entrepreneursClick to read  

  1. Prioritize self-awareness: MSMEs owners should take the time to understand their own emotions, triggers, and behaviors. This will help them make better decisions and communicate more effectively.
  2. Practice active listening: MSMEs owners should practice active listening with their employees and customers. This will help them understand the perspectives of others and build trust.
  3. Encourage team building: Regular team building activities can help small business owners improve their social skills and build a positive work culture.
  4. Promote a positive work culture: A positive work culture is essential for emotional well-being. MSMEs owners should encourage a culture of kindness, support, and open communication.
  5. Set clear goals: MSMEs owners should set clear, measurable goals for themselves and their employees. This will help them stay motivated and focused on what is important.
  6. Emphasize self-care: Small business owners often have a lot of responsibilities and can experience high levels of stress. MSMEs owners should prioritize self-care and to make sure they are taking care of their physical, emotional, and mental health.
  7. Provide training: MSMEs owners should participate and encourage staff to take part in training on emotional intelligence and well-being to develop these important skills.
  8. Encourage feedback: MSMEs owners should seek feedback from their employees and customers, as well as to give feedback in a constructive and supportive manner.
Well-being in enterprise

How improve well-being in a business context?Click to read  

PROMOTE A HEALTHY WORK-LIFE BALANCE
Encourage employees to take regular breaks, leave work on time, and disconnect from work when they are not at work. This will help reduce stress and improve overall well-being.

ENCOURAGE PHYSICAL ACTIVITY
Encourage employees to incorporate physical activity into their daily routine. This can be done by providing gym memberships, encouraging walking meetings, or providing opportunities for team sports.

PROVIDE MENTAL HEALTH SUPPORT
Provide access to mental health resources, such as an employee assistance program (EAP) or counseling services. This will help employees who may be experiencing stress, anxiety, or depression.

CULTIVATE A POSITIVE WORK CULTURE
Create a positive work culture that promotes respect, open communication, and collaboration. This will help employees feel valued and supported, which will improve overall well-being.

ENCOURAGE MINDFULNESS
Encourage employees to practice mindfulness techniques such as meditation or yoga. This will help them stay focused and reduce stress.

PROVIDE OPPORTUNITIES FOR GROWTH AND DEVELOPMENT
Encourage employees to incorporate physical activity into their daily routine. This can be done by providing gym memberships, encouraging walking meetings, or providing opportunities for team sports.

ENCOURAGE SOCIAL CONNECTIONS
Encourage employees to build social connections with their colleagues. This can be done by organizing team-building activities, encouraging employees to take lunch together, or organizing after-work events.

ENCOURAGE FEEDBACK
Encourage employees to give and receive feedback in a constructive and supportive manner. This will help them feel heard and valued, which will improve overall well-being.
Recommendations for entrepreneursClick to read  

  1. Promote healthy work-life balance by encouraging employees to take regular breaks and disconnect from work outside of office hours.
  2. Encourage physical activity by providing opportunities for employees to exercise, such as a gym membership or group fitness classes.
  3. Provide mental health support by offering employee assistance programs, counseling services, or access to a therapist.
  4. Cultivate a positive work culture by fostering open communication, recognizing employee achievements, and promoting a sense of community among team members.
  5. Encourage mindfulness by providing resources for meditation or yoga, and promoting stress-reduction techniques such as deep breathing exercises.
  6. Provide opportunities for growth and development by offering training programs, mentorship, or tuition reimbursement.
  7. Foster social connections by organizing team-building activities, encouraging employees to form work friendships, and promoting a sense of belonging among the team.
  8. Encourage feedback by creating a system for employees to provide anonymous feedback, and acting on suggestions for improvement.
  9. Prioritize safety by ensuring that the workplace is free from hazards, and promoting safe work practices among employees.
  10. Encourage healthy habits by providing healthy food options, promoting regular health screenings, and encouraging employees to get enough sleep and maintain a healthy diet.
Summing up

Summing upClick to read  

UNIT 1
  • Emotional Intelligence and well-being are important for overall health and happiness.
  • Developing emotional intelligence skills can enhance well-being.
  • Investing in emotional intelligence and well-being is an investment in yourself.
  • Check your level of emotional quotient to see where you are doing well and where you should improve.
UNIT 2
  • Improving emotional intelligence involve becoming self-aware, regulating emotions, practicing empathy, improving social skills, finding motivation, and regularly practicing and seeking feedback. By consistently working on these skills, individuals can improve their emotional intelligence and overall well-being.
  • To improve emotional well-being in small businesses, owners should prioritize self-awareness, active listening, team building, a positive work culture, clear goal setting, and self-care, while providing training and encouraging feedback
UNIT 3
  • Small businesses can promote employee well-being by focusing on work-life balance, physical activity, mental health, positive culture, mindfulness, growth, social connections, feedback, safety, and healthy habits.
  • SMEs should support physical & mental health: Encourage physical activity, provide mental health resources, and offer opportunities for growth.
  • Foster a positive culture is crucial in business: Cultivate a positive work culture that promotes open communication, collaboration, and mindfulness, and that supports employee well-being.


Objectives/goals:

By the end of this module, you will have a comprehensive understanding of the concepts of emotional intelligence and well-being. This includes their definitions and key components, as well as the relationship between these two concepts and how they impact personal and professional success. You will also learn about the importance of emotional intelligence and the steps to take to develop these skills. Additionally, the significance of well-being in the workplace will be emphasized and you will be taught ways to enhance well-being within a company.

 ESCO competencies and skills:
Transversal skills and competences
Social and emotional skills
Critical thinking
Analytical thinking
Problem-solving
Self-management
Business management
Flexibility
Skills
Communication
Cooperation
Emotional intelligence
Knowledge
Well-being
Checklist of benefits for entrepreneurs

✓ improved relationships with employees, customers, and partners. Emotional intelligence allows individuals to better understand and manage their own emotions and the emotions of others, leading to more effective communication, collaboration, and conflict resolution.

✓ improved employee satisfaction and motivation. When employees feel valued and supported in terms of their well-being, they are more likely to be engaged and motivated in their work, which can lead to increased productivity and overall success for the business.

✓ Improved employee morale and job satisfaction, leading to increased productivity and reduced turnover.

Keywords

Emotional intelligence, well-being, entrepreneurs, business, MSMEs

Bibliography

CEDEFOP. (2020) Workplace practices unlocking employee potential European Company Survey 2019. Available at: https://www.cedefop.europa.eu/en/publications/2228

Daniel, B. (2019) Emotional Intelligence in Business: Improve Emotional Intelligence at Work. Improve Leadership and Develop Your EQ. Unleash the Empath in You and Build Self Confidence . United States: Orion Edition Ltd.

Goleman, D. (2006) Emotional intelligence: Why it can matter more than IQ. New York: Bantam Books.

Hesketh, I. and Cooper, P. (2019) Wellbeing at work how to design, implement and evaluate an effective strategy. London: Kogan Page Ltd.

Safeer, R. (2023) A cure for the common company: A well-being prescription for a happier, healthier, and more resilient workforce. Hoboken, NJ: Wiley.

https://eurac.com/free-emotional-intelligence-test/

Related Glossary

  • Emotional Intelligence:
    Emotional intelligence is the ability to recognize, understand, and manage our own emotions, as well as the emotions of others.
  • Well-being:
    Well-being is state of being healthy, happy, and prosperous.
  • Self-awareness:
    Self-awareness is the ability to recognize and understand one's own emotions, thoughts, and behaviors, and how they impact oneself and others.
  • Self-regulation:
    Self-regulation refers to the ability to control one's thoughts, emotions, and behaviors in order to achieve personal goals, conform to social norms, and maintain overall well-being.
  • Empathy:
    Empathy is the ability to understand and share the feelings of others. It involves recognizing, comprehending, and responding to the emotions of others, which can lead to better relationships, improved communication, and greater compassion.
  • See all terms


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