By Daniel Bobinski
Daniel Bobinski
Nobody wants to hire an average performer, let alone a poor one. In an ideal world, every one of our new hires would be top performers (like at Lake Wobegon). Granted, not everyone can be the top performer, but a way exists to increase the likelihood of hiring people who will outperform others in their industry, and research shows that emotional intelligence (EQ) is the key.
Some might argue that emotions are nebulous and fluffy and that a strong IQ would be a better predictor of success. According to the research, those arguments would fall short, as people with average IQs but high EQs outperform high IQ new hires 70% of the time.
That argument that IQ is a better predictor arises from a misunderstanding about EQ. The EQ model starts with self-awareness and self-management. It builds from there using empathy to develop solid social skills. Those with highly developed EQ tend to have stronger time management skills, plus better overall communication and customer service skills.
The result? Better productivity.
Regardless of industry, research shows that strong EQ is 58% of the success equation. And 90% of top performers in all industries score high in EQ, versus just 20% of low performers.
A 40-year study at UC Berkeley found that EQ was 400% more powerful than any other factor when predicting who would be successful in their field.
If you prefer not to trust Berkeley’s academicians, PepsiCo’s internal study found that managers with high EQ outperformed their revenue targets by 15-20%, whereas managers with low EQ underperformed by the same percentage.
Using assessments in the hiring process
Many companies now offer standardized EQ tests to help companies gauge the EQ of their applicants. It’s smart to evaluate several to see which assessments are a good fit for you. I issue only one warning. Make sure you use multiple criteria in your hiring equation. In other words, it’s perfectly legal for EQ to be a factor in your hiring equation, it just can’t be the only factor in the equation. Having only one factor in your hiring equation makes people at the U.S. Department of Labor frown. A lot. You don’t want them frowning at you. So, as with all things, check with your state’s labor laws to ensure you’re in compliance.
Because of their value in identifying candidates more likely to succeed, EQ pre-employment tests are becoming extremely popular. And an interesting observation is emerging. You’re probably familiar with the adage that with increased age comes increased wisdom. But companies are learning that “wisdom” equates in many way to emotional intelligence, because older applicants tend to score well on EQ tests.
This means that given the available data, it might be a better financial decision to hire an older worker, even though it might mean paying a higher annual salary. Those costs are being offset by higher levels of production.
Bottom line, if your organization is not yet screening for EQ levels in the hiring process, now might be a good time to explore that option.
– Daniel Bobinski is author of the best-selling book, “Creating Passion-Driven Teams,” and president of Leadership Development Inc. He’s been helping organizations of all shapes and sizes since 1989. Learn more at www.eqfactor.net or reach Daniel at 208-649-6400.
