In a world where technology is constantly changing and business is becoming more complex, it is more important than ever for board directors to have emotional intelligence – the capacity to be aware of and manage one’s own emotions and the emotions of others.
It is essential for board directors to understand and empathize with the people with whom they are working, considering their lives both inside and outside of the company. In this article, we will discuss why emotional intelligence is so important for board directors and how they can develop it.
Why Is Emotional Intelligence Important for Board Directors?
There are many reasons why emotional intelligence is important for board directors. Below, you will find just a few.
Board directors need to practice empathy when it comes to their co-workers and others related to their business. This includes customers, suppliers, and investors. For example, if a customer were to be angry about something, it would be important for the board director to be able to understand why and try to resolve the issue.
A study by Lesley University found that men who scored higher on an empathy test were 12% more likely to be in management positions. This shows that empathy is an important quality for board directors, especially if they want to continue advancing in their careers.
2. Leadership Skills
Board directors need leadership skills in order to run effective companies. Emotional intelligence will strengthen these skills because the directors will be able to manage themselves better as well as others. Thus, they will become sources of motivation and inspiration for their employees.
It is important for board directors to be able to control their emotions in order to effectively lead. They need to show that they are confident and in command of the situation. Losing their temper or acting out of anger would damage the company’s reputation and their own credibility.
3. Better Communication
Being emotionally intelligent can help board directors communicate with both employees and investors, allowing them to get their messages across more effectively.
For example, if a director wanted to convince an investor to give them money for the company, then being emotionally intelligent would be a huge advantage. The director would be able to understand why the investor might hesitant. They would be able to use this knowledge to address any concerns and convince the investor to invest in the company.
Directors need to know how their actions affect those around them so that they can act accordingly in a way that inspires trust. People will not trust a board director who they think might make bad decisions or do something harmful.
For example, if a director wanted to gain investors’ trust and win over their confidence, then he would need to show that he won’t steer the company in the wrong direction. If his impulsive decision drives the company into bankruptcy, that would damage investors’ trust in them.
In order to gain people’s trust, board directors need emotional intelligence, showing them when to be firm and when to be flexible. They also need a good understanding of how their actions will affect others in order to make decisions that benefit everyone.
Emotionally intelligent board directors are better at motivating the people around them. They are able to provide effective communication, leadership, and inspiration for others. With this in mind, emotional intelligence makes it easier for them to motivate employees who are feeling discouraged or unmotivated.
Developing Emotional Intelligence
There are many ways in which board directors can develop their emotional intelligence. Here are a few key approaches.
1. Practice Mindfulness
Mindfulness is all about being aware of what you are feeling and why you feel that way. This allows you to take action in improving yourself. This might be difficult for some people, but it is possible with practice. Being mindful involves observing your emotions as they surface and then identifying them. Board directors can practice mindfulness by meditating and reflecting on their feelings, such as anger or frustration.
2. Keep a Journal
Journaling is a good way for board directors to understand their emotions because it allows them to look back at how they felt in the past. When they are faced with strong emotions, they should write down what happened, how it made them feel, and how they reacted. This can help them become more aware of their emotions, taking control of these emotions instead of being controlled by them.
3. Learn About Emotions
Board directors should learn about the different emotions they feel so that they can better deal with them. This will help them understand themselves more fully, allowing them to get rid of negative emotions, such as anger or jealousy, and embrace positive ones, like happiness and excitement.
4. Develop Skills in People Management
Having emotional intelligence means being able to understand the people around you. So, team management skills are very useful because they ensure that board directors are good at managing people with different personalities. They need to know how to motivate them and influence them to be happy with their work and do a high-quality job.
5. Develop Skills in Communication
Being an effective communicator is important for any board director because it helps them understand how their actions affect others. This means that they need to listen carefully when people talk so that they can sense the mood of the room. If someone feels uncomfortable, then it might be due to something the director said or did, not just something that person is feeling.
6. Learn to Build Relationships
Strong relationships are very important for board directors who must work with the people around them in order to get things done. Knowing how to build strong relationships involves making people feel comfortable around you, respecting their boundaries, and being kind so that they will want to work with you.
7. Learn to Be Assertive
Being assertive means being able to stand up for one’s own needs while also considering the feelings of other people. This is important for board directors because they need to take firm action when it benefits the company, but they should also be flexible enough for other people to still support them.
Board directors need to have emotional intelligence in order to be effective leaders. They should work on developing the skills necessary for understanding their own emotions and those of others. Once they are able to identify their feelings, they can take control of them instead of just reacting to what happens around them. If board directors want to be successful in the business world, then emotional intelligence is a must-have!