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Developing Emotional Intelligence Skills for the Workplace 1
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Contents INTRODUCTION...........................................................................................................................4 1. Discuss about the importance of developing emotional intelligence at workplace and relationshipbetweencommunication,Emotionalintelligence,Businessadvantageand effective management communication........................................................................................5 2. Critically evaluate the models of emotional intelligence and apply onSantander Bank and also understand that how it appropriate in the meeting the development needs of individual....8 3 Importance of emotional intelligence & how emotional intelligence can help Santander Bank to gain competitive advantages..................................................................................................12 CONCLUSION..............................................................................................................................16 REFERENCES..............................................................................................................................18 2
INTRODUCTION Emotional intelligence refers the capacity of controlling, expressing of own emotions and Handlinginterpersonalrelationshipempathetically.Emotionalintelligenceanditsall5 components like self-awareness, motivation, self-regulation, empathy and social skills play a vital role within an organization. All these components of emotional intelligence help the companytoaccomplishtheirpre-determinedgoalsandtakecompetitiveadvantagesby understanding emotions of others. This present essay is based on Santander Bank that is wholly owned subsidiary of Spanish Santander Group. Headquarters of this bank is in 75 State Street Boston, Massachusetts, U.S. It operates approximate 650 retail banking offices & over 2,000 ATMs. In the context of services and products it offers retail banking services, banking services, mortgages, cash management etc. Santander Bank provides employment approximately 9,900 people. It was founded by Sovereign bank, Wyomissing, Pennsylvania in the year of 1902 (Vargas-Hernández and Medina, 2016). Thisessayisgoingtoshowimportanceofdevelopingemotionalintelligenceat workplaceasithasaneffectiveandstronginterrelationshipwitheffectivemanagement communication & business advantages. It will evaluate models of emotional intelligence and their application in Santander Bank because it helps them to satisfy developing needs of the individual to the great extent. Further this essay will also discuss that Mindfulness and emotional intelligence are strongly interrelated with each other as mindfulness helps individuals to increase emotional intelligence skills. Overview Santander is based on the retail banking company and located in Boston.Santander bank was formed in 1902 and it is the subsidiary of Spanish Santander group. It operates many other type of retail banks and ATM services, which offers the different financial services such as capital market, cash Flow, Insurance, Corporate banking and retail banking etc. There are approximately 9,800 employee work in the organization and performing different operations. 3
1.Discussabouttheimportanceofdevelopingemotionalintelligenceatworkplaceand relationship between communication, Emotional intelligence, Business advantage and effective management communication. Emotional intelligence is an ability to recognize the real emotions of people and other at workplace. The concept been introduced by Psychologists perter in 1990 and he was developed an idea in 1995. Emotional intelligence is a capacity to evaluate, identify and manage the emotions while it can be developed and trained (Rezvani, Khosravi and Ashkanasy, 2018). It has been considered emotional intelligence capacity to manage and understand the emotions while emotional skill may come naturally to the people, these are important things that anyone can improve their own emotions and also control during business operations. There are five different types of components applicable in the emotional intelligence. Self-awarenessis an ability to recognise and understand own emotions and its significant impact on other people. It is the initial step which require to do self-evaluation for identify the emotional aspects and behavioural of psychological. On the other hand, it is required for improve the self-awareness so that it must keep hand the situation that have triggered disrupting emotions. For Example- Staff members use the information to understand situation and give their own reactions towards work. Leader must be receiving the feedback from the other employee and also help in the task completion ofSantanderbank. Self-regulationis another process that has ability to manage negative and disruptive emotions where employee will adopt changes in theSantander Bank. There are many peoples skilled in the self-regulation for managing conflict and easily adopt new things. For Example- Leaders are taking the responsibilities, if staff made mistakes rather than shouting or blaming. If people feel guilty so that it duties for respect the dignity of staff and provide right direction.It also provides the awareness to implement self-regulation in their work culture. Motivationis based on self-motivate with concern about for achieving self-gratification and internal which opposed to give reward. InSantanderbank, employee motivate themselves and committed towards their goals and objectives. It is an essential part of emotional intelligence to remain maintain the optimistic because it helps to motivate the other employees in positive manner. It is required to increase the staff motivation for improving the performance of Santander Bank. 4
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Empathyhelps to recognise understanding of people and how employee can feel or responds towards the social situation etc. It allows an individual to identify the dynamic idea that influence the relationship at workplace and personal. For Example- if manager give angry reaction when it has found that employees has been arriving to the workplace after deadline. In this way, it is an essential for employees to follow the time management so that manager feel satisfy with the staff members (Miao, Humphrey and Qian, 2018). Employee will respect to their manager and improve the performance of jobs inSantander bank. In Santander bank, Manager has an ability to understand the feeling of employees but involve the response of people according to the information. It includes that just being an able to recognise the emotional status of workers. Managers are likely influences that how it can response to the individual and might be treated with extra concern or care. Social Skillsis an ability to control the emotions of other through own understanding and also connect with the other people by using skills such as communication, listening etc.In Santanderbank, manager can use the social skill to influence the emotions of other staff members effectively and efficiently. If managers are able to understand and manage the situation of enterprises, then they are started to understand the emotions and feelings of employees. In the professional setting inSantanderbank, managers and leaders are being able to create strong relationship with the worker and provide the benefits. They can use their social skill such as leadership, active listening, communication etc. Being able to communicate with the workers which involves the emotional intelligence for understanding their emotion and feelings. It helps for manager to coordinate between worker which support the entire functionality of enterprises. Importance of developing emotional intelligence at workplace Emotional intelligence plays important role in the academic success because it helps for people to improve their own understanding towards situations and conditions. It brings the liability, trust and commitment between the employee in the organization. The success of people job performance occurs due to emotional intelligence because it depends on the level of EI. Managers and leaders are important person in theSantanderbank that support the overall activities. It also improving the individual efficiency and performance. Nowadays, it has increased the importance of emotional intelligence at workplace which emphasis the Santander bank. 5
According to EI, it is always influenced by the personal skills such as self-control, knowledge,perseveranceetc.InSantanderbank,theemployeeswithhigheremotional intelligence able to understand the work condition and adjust to adopt the new things. It doesn’t matter what degrees have you done. It depends upon the skill and ability to handle the business process and continues to evolve new techniques, innovations at workplace. It directly related to the leadership position at workplace because it helps for understanding the enterprise need and requirement through skills (Invernizzi, Locatelli and Brookes, 2018). InSantanderbank, an effective leader has an ability to perform different functions in the business and create an effective work culture or environment where every employee feels self-motivate. In this way, it directly impacts on the business performance to achieve goals and objectives. It is necessary to recruit the new candidates with the emotional intelligence, it has required for manager and other leaders to manage emotions of employee in Santander bank. Many leaders having high emotional intelligence that are able to use the social skills for building trust with other employees. They tend to take view of staff members and individuals with appropriatepersonalities, abilitiesand their background. Leaders of Santander bank understand and coordinate emotionally with staff members. They are sincerely sharing their own opinion and experience. In this way, they build strong relation between the employees which is important for decision making in theSantanderbank. Emotional intelligence can lead on the path to fulfil requirement and need by giving framework when it can apply the proper intelligence to the individual response and also identify theirlogicallyresponses.Atworkplace,EIsupporttheindividualswithhigherrateof intelligence and can support better equipped to the work within group of people. It useful for managing the stress and enabling them to achieve business objectives. Relationship between communication, Emotional intelligence, Business advantage and effective management communication Emotionalintelligenceisrelatedtothebusinessdevelopmentbecauseithelpsfor individuals to interact with staff, promote efforts of team members, resolve problem with every people. It also builds an effective relationship between employees and leaders. In this way, employees are able to understand their own strength and weakness. Managers take the feedback and can use in the positive manner to improve the growth of individual. Emotional intelligence is boosting the benefits of business where each staff members respect to other people, colleagues. It 6
helps to improve the culture and environment. Suddenly, it has converted into the enjoyment not only employee enjoy. This is the best way to promote the team work and support at workplace while it will create the most powerful sense of team and support the enterprises activities. It is great advantage of business to improve the culture, environment and getting more profitability in global marketplace. Communication is medium that can help for sharing information from one member to other.Itplaysuniqueroleintheemotionalintelligenceatworkplacewheremanager communicate with the staff members to identify their need and requirement. They also support to take feedback regarding innovative idea that help for increasing the production and profitability. Communication is a source of data transmission at workplace which required to manage effectively(Invernizzi, Locatelli and Brookes, 2018).For Example- Human Resource Manager has played significant role in the business for communicating with the staff members to give the information about the current project. it also gives an advice where how they can control the emotional intelligence during decision making. InSantanderbank, Emotional intelligence is combined with the effective communication that enables to improve relationship with employees. The ability to control and understand their own emotions and how to communicate with others. Manager of Santander bank create effective communication with the employee to manage and control conflicts, it also understands the need and requirement. 7
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2. Critically evaluate the models of emotional intelligence and apply onSantander Bank and also understand that how it appropriate in the meeting the development needs of individual. Emotional intelligence models are defined the conceptual framework that help for analysing the actual result or outcome (Ortega, Lozano and Sierra, 2019). It can be divided into different types: Goleman EI performance model, Bar-On EI competencies model and Mayer, Salovey & Caruso’s EI Model etc. These are different models which help for analysing the evidence of model in various level. Salovey & Mayer Model of emotional intelligence- This type model is also called Ability model that proposed emotional intelligence which has ability to separate but associated with the general intelligence. The Model is described the number of distinct emotional abilities and dimensions etc. it can be divided into different competencies such as managing emotions, perception, understanding emotions and integration which help for perceiving, managing and understanding the emotion of employee in Santander bank. It can start with testing to validate different branches of emotional intelligence. This model can be applied on theSantanderbankto measure the emotional intelligence of employee into different ways: emotional management, perception and understanding etc. it helps for manager to identify the EI of staff members and also validate on the basis of discriminant which indicate the ability or qualities of individual at workplace. InSantanderbank, it would test the emotional intelligence of 5,000 male and female workers. It can be designed for the individual on the basis of age groups. Each and every employee has unique perception and understanding towards the business operations. By using model, it easily measured the emotions by rating and emotions type expressed in different ways. 8
Figure1Salovey & Mayer Model of emotional intelligence (Source:Emotional intelligence. 2012) Bar-on Mixed model of emotional Intelligence This type of model is a type of mixed model of emotional intelligence that combine with the personality aspects. It is mainly comprised with the five scales and subscales. These are the centrepartofmodelonmultipleproportionssuchasstressmanagement,interpersonal, adaptation and mood etc. This type of model is applied on theSantanderbank which contributes cognitive intelligence to each employee which mainly indicate the success of life. This model is describingthesubscalesandscaleswhichalwaysinfluenceinterpersonalandstress management. 9
InterpersonalStress Management General Mood IntrapersonalAdaptability Roles and responsibiliti es. Interpersonal relationship. Interpersonal relationship. Impulse Control Stress tolerance Happi ness Awaren ess Self- actualiza tion Problem solving Testing Table :1 According to table, it can be determined that Bar-on mixed model combined with the personality of employee in Santander bank where it useful for understanding the specific personality of each employee and how they can perform their own roles, responsibilities of business development. It directly influenced to growth ofSantanderbankby managing the task. Goleman Emotional Intelligence Model- The model is defined the emotional competencies which are not consider inborn talent but include the learning capabilities. It helps for developing the skill to achieve the goals and objectives. InSantanderbank, Goleman model must be included in the business for identifying the learning capabilities and strength of employee. Manager can monitor to the staff members throughGolemanmodelofemotionalintelligencefordeterminesthelearningemotional competencies. In this way, manager is used the Goleman model to construct the self-awareness which ability to recognise the emotions in decision making (Gismera and et.al., 2019). Self-awareness is important concept in the business growth and development so that staff members choose right option because they can understand the situation ofSantanderbank. It is an appropriate model that can implement in theSantanderbank to analyse the effects of emotion in the own performance and business growth. Employee can try to improve the emotional intelligence and self-awareness. On the other hand, it is also another concept of self- managementwhichprovidethehelpstotheleaderswheniteasilyaccessestheirself- 10
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understanding and behaviour on the enterprises objectives. InSantanderbank, Managers used the self-management process to control the emotions and impulses where adopting the changes under circumstances. Social awareness in the terms of emotional intelligence has influenced to support the Santander bank for generating best results. In terms of leadership and team, empathy is important concept that help for motivating staff members so that they are generating more profitability of Santander bank. After empathy,Santanderbank is needed to aware about the relationship between employees and leaders. It helps for managing and controlling conflict between them. Emotional Intelligence models are appropriating in the meeting the development needs of individual TheEmotionalintelligencemodelsareanappropriatefordevelopmentneedsof individuals that help for identifying their personality, ability, wants and needs etc. Each individual has different personalities that shows their own emotions at workplace. Emotional intelligence model will provide the navigation and direction the individual so that they can take right decision for business growth and development (Gismera and et.al., 2019). it also improves their own capabilities and ability. In this way, this model will help for improving the personality in different manner such as Self-awareness, self-motivation, self-regulation and social skills etc. Emotional awareness is recognising the emotions and their significant effects. It should know about the strength and weakness so that they can improve skill through self-assessment of individual and meet the goals of development. It improves the self-confidence ofindividualwheretheycanmanagethetaskthroughowncapabilities.Bydeveloping individuals of emotional intelligence become more successful and productive because it can build the capability to identify the right or wrong of life success. The process of emotional intelligence must contain the different types of elements which help for reducing the stress level of individuals (Gismera and et.al., 2019). It has limited chances of conflict between people and they are promoting their own understanding to other colleagues. Therefore, it will increase the strong relationships between employees inSantanderbank. 11
3 Importance of emotional intelligence & how emotional intelligence can help Santander Bank to gain competitive advantages Emotional intelligence skills can be defined by the capacity to manage as well as understand emotions of themselves and others. Emotional intelligencehave 5 main components suchasmotivation,self-regulation,self-awareness,empathyandsocialskillsetc.Some importance of having all these skills are described as follows: Self awareness:Self-awareness refers ability to recognize own strengths, emotions and limitation. There are several benefits of having this skill. An individual who possess this skill can not let anyone else to rule their feelings. BY knowing own strengths and weaknesses, an individual work on these areas for making themselves more able & effective at workplace. Motivation:Self-motivation also plays an important role. It is the ability to perform and doing all those things which needed to be done without getting influenced from others. Self motivated people have willingness to work more effectively towards achieving goalsandnot beingmotivated by money. It reduces procrastination at workplace, increases self confidence, increases focusing capacity to achieve goals etc. Self regulation: Self regulation can be defined as an ability to manage impulses & disruptive emotions. Those individuals who are moreare self- regulated, they donot become angry and jealous rather they can choose other appropriate solution to solve problems (Serrat, 2017). For example, if manager of Santander Bank notices and finds that some employees are not doing well and are not serious then rather shouting, manager decide that which task should be delegatedandwhat other solution they can take to solve these type of problems. It is beneficial at workplace because it allows leaders and managers to react rationally. It also helps them to increase trust of employees. Empathy:Empathy skill can also be defined as an ability to understand others' emotions by imagining themselves in someone else's situations. It also has several benefits at workplace. By having this ability, a manager and a leader can understand that how their employees are behaving in a certain way. After finding out reasons they can take appropriate solutions which can make employees more respectful towards manager of Santander Bank. Social skills:Social skills refers the ability to manage and develop relationship with society and employees in a certain way that beneficial the company. This skill can help the 12
manager of Santander Bank to make their staff feel more comfortable at workplace. It can also decrease labour turnover which is beneficial for employers and employees. Importance of emotional intelligence: Santander Bankoperates approximate 650 retail banking & provide several financial services & products that includes: mortgages, retail banking, cash management, Corporate banking and many more (Patterson and McEachern, 2018). It has appropriately 9,900 employees ofdifferentculturalandbackgroundthathavedifferentviewsandexperiences.For understanding views of all employees and make them able to work in a team with more effectively it is so important for the manager of this bank to have emotional intelligence skills. There is a string relationship of mindfulness and emotional intelligence. Mindfulness increases emotional intelligence skills and have several physiological benefits as it decreases stress & anxiety. By focusing on mindfulness programs, Santander Bank can increase their employee’s engagement at workplace & make a healthy & happy working environment. Some importance of emotional intelligence and mindfulnessfor Santander Bankare being described as follows: Harness the potential of the team:It is already stated that Santander Bank employs approximately 9,900 employees and for that it is essential to get work done from them in an effective manner (Ju and et.al., 2015). Different employees have different views and opinion on the same topic. Some employees do not prefer to work in a team, while some employees prefer to working in an effective team. For satisfying needs of different types of employees it is important for leaders and managers of this bank to have mindfulness & emotional intelligence skill. A leader plays an important role in developing and building an effective team and get effective outcomes. Leaders who posses these skills, can efficiently motivate and push their employees limits. A team and employees also want from their leaders that they focus on their needs and connect them at an emotional level and realize their individual as well as their collective strengths. Developskills&uniquebrandofleadership:Emotionalintelligencemeansto understand own as well as others emotions and thoughts. By understanding skills and emotions of others', leader of SantanderBank can make effective leadership.Emotions are called a powerful and effective tool in leadership because leaders are wholly responsible for guiding, motivatingandgetting works done from employees. By understanding emotions of different 13
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types of employees, leader of this bank can motivate their employees in different ways with the main aim of achieving determined goals Build long lasting relationship:Employees and clients play a vital role for Santander Bank because they have more capability to increases & decrease sales and productivity of the bank. For making the company more beneficial & taking competitive advantages, it is important for leaders of Santander Bank to focus on developing strong relationship with employees and clients (Makkar and Basu, 2019). By developing social skills of emotional intelligence, they can make themselves able to make clients and employees happy. The ability to empathize with staff andemployees, often comes from emotional intelligence. When manager of Santander Bank tries to satisfy all needs of their clients and being in touch with them and also try to please them with having social skills then clients feel more motivated and respected. They are more likely to stay with Santander Bank for the long run. Better conflict management skills:When an organization offers its services to people of different countries then it has to face several difficulties. For managing and operating in an effective manner it is important for manager & leader of Santander Bank to have better conflict management skills. These skills can be adopted and developed by emotional intelligence. A leaderandmanager who have higher level of mindfulandemotional intelligence, they try to solve problems in a proactive and positive manner rather than reactive manner. By understanding and listening views of both sides, they solve problems and it is the main importance of emotional intelligence which can make Santander Bank more productive. Impact on business outcomes:There are several changes occur in external market situations. Due to those changes,Santander Bank has to face several challenges. A leader who is not emotionally intelligent and mindful, this can result in ineffective decisions. Ineffective decisions and aggressive reactions can impact on business negatively.For having a positive impacts on business, it is essential for leaders of Santander Bank to make appropriate decisions after evaluating all factors and taking feedbacks from others. Business outcomes shows the effectiveness of the bank and have greater impacts on clients as well. So for making a good brand image, it is important for leader of the bank to understand own as well as others views and emotions (Herda, Cannon and Young, 2019). 14
Better adaptability:When an individual more focuses on developing self-awareness skills then they open up their mind to change. This self-awarenessandself-regulation skills make them more able to become flexible and adaptable to the surrounding changes. Accepting feedbacks and facilitate self-changes are the hardest things to do. To accept feedbacks and take in into positive manner, makes an individual more flexible and adaptable. It is stated that Santander Bank has to face several problems due to external factors, so it is important for the leaders and managers of this bank to develop their self-awareness skill. With the help of this skill and by making themselves flexible, they can make appropriate changes in workplace according to the external changes. Higher perseverance:There are several situations occur which makes a leaders' failure several times. It can increase anxiety and depression. Higher perseverance and tenacity can help out a leader of Santander Bank to tide through such emotions. Emotional intelligence & competitive advantages: DevelopingemotionalintelligencecanhelpSantanderBanktotakecompetitive advantages and become the market leader in the banking industry (GHARETEPEH and et.al., 2015). A competitive organization is the one who has all those abilities which can satisfy needs of their stakeholders, employees and clients. Competitiveness is all relates effectiveness of the company which makes it differ and unique from others.Santander bank works in national banking industry and there are several banks who provides financial services to people. Competitors ofSantander Bank are Wells Fargo, UniCredit, JP Morgan etc. All these banks are also well known for its qualitative services. It is important forSantander Bank to make itself unique from its competitors and emotional intelligence makes it possible. There are some reasons which shows that Santander bank can take competitive advantages with the help of emotional intelligence. Empathy improves communication:Empathy is the main component of emotional intelligence by which the leader and manager ofSantander bank can understand others' emotions. It can be said that effective communication is an important key of an organization success as it removes barriers of miscommunication from workplace. When leader have this skill and put themselves in others' situations then it can understand all aspects and problems of situations effectively. It can help them out in communicating with their employees and clients. By improving communication, they can make conflict free environment. 15
Improves trust:All techniques and models of emotional intelligence which are being used by Santander bank can help the company in improving trust in the workplace. Diplomacy is skill which comes naturally to high emotional intelligence people. Motivation and other elements of emotional intelligence make a leader more able to sort out their employee’s problems. When the bank focus on solving their problems and satisfy their needs then employees and clients feel more respected and it increases their trust. Flexibility improves collaboration:It is already stated that individuals who have all skills and components of emotional intelligence, they become more adaptive and flexible. This ability to adapt and flexibility improves collaboration (Ngah, Abd Wahab and Salleh, 2015). Adapt feedbacks and other things from others and do not become angry & jealous can make an individual able to work in a team. Improves leadership capabilities:Self-motivated and self-regulated people have more ability to influence others and this ability improves leadership capabilities within workplace. It is important for leaders to have influencing capabilities because they are the one who guide and motivate employees towards achieving goals. Leadership also plays a vital role in taking competitive advantages. Leadership can make the company and employees more productive and increase their brand image. So, it can be said that emotional intelligence can helpSantander Bank to take competitive advantages because it improves leadership capabilities, improves communication, increase collaboration and increase trust. All these qualities and factors play a vital role to make an organization unique and differ from others. A competitive company is the one who have all those abilities which can satisfy their clients' and employees needs. With the help of emotional intelligence, Santander Bank satisfy all demands and needs of their staff as well as of their customers. Effective communication and collaboration make a healthy and happy working environment. It also decreases conflicts which can decrease labour turnover. By retaining skilled workforce within an organization for the long run, Santander Bank can increase their brand image and can take competitive advantages. 16
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CONCLUSION From the above study it has been concluded that emotional intelligence played an increasing role and importance in workplace. It has shown some importance of emotional intelligence in the context of the selected bank. With the help of emotional intelligence and its all five elements, the selected bank has made itself able to manage effective communication with the main purpose of taking business advantages. Further this essay has shown increasing importance of models of emotional intelligence like salovey & mayer model, Bar on mixed model and Goleman model. All these models help the selected company to understand human behaviors in different manner. By understanding their emotions and feelings, they motivate their employees and satisfy their needs for accomplishing goals. Lastly this essay has shown importance of emotional intelligence for the selected bank for gaining competitive advantages. It made individuals more flexible, adaptable of changes, able to solve conflict & develop strong relationship with others. 17
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