When it comes to achieving achieving your goals, it's not just about having the right skills and knowledge. Emotional intelligence and team dynamics also play a crucial role in driving results.
The truth is, competency is not enough.
What the Data Shows: The Role of Stronger Dynamics in Driving Business Growth
When it comes to the connection between strong team dynamics and growth, the data is clear.
- According to a study by the Harvard Business Review, teams with high levels of emotional intelligence had an average of $2.2 million higher annual revenues than teams with low emotional intelligence. This demonstrates the importance of not just being able to do the job, but also being able to effectively communicate and collaborate with others.
- But it's not just about emotional intelligence. A study by the University of Pennsylvania found that teams with high levels of social cohesion (a measure of team dynamics) had a 38% increase in sales. This shows the impact that positive relationships and trust within a team can have on performance.
- A study by the American Management Association found that companies with high levels of emotional intelligence had a median annual revenue growth rate that was nearly four times higher than that of companies with low emotional intelligence. This further illustrates the importance of emotional intelligence in driving business success.
- But it's not just about the bottom line. Research by the TalentSmart consulting group found that 90% of top performers have high emotional intelligence, and that emotional intelligence was the strongest predictor of performance, accounting for 58% of success in all types of jobs. This shows the importance of emotional intelligence not just for financial success, but for overall job performance and success.
All of this underscores the well-known work of Patrick Lencioni and his argument that healthy beats smart. It is also what we've seen in our years of work. Here's just one quote from a client:
"Because our team grew more comfortable working together and having hard conversations we were able to reduce the stressful workload for certain employees by 50%. This enabled staff to have more time with clients which added 10-15% to our bottom line."
4 Tips As You Get Started
So how can you build trust in your team's dynamics and improve emotional intelligence? Here are a few tips:
- It has to start from the top down. If you don't have executive buy-in, it is very challenging to align the team and address its dynamics in a healthy way. However, if executives lead the charge here, your chances of success are great.
- It has to go from the inside out. The goal is real trust, growth, and integration. None of those come with superficial fixes or quick tips; there has to be vulnerable willingness to go deeper first.
- Encourage open and honest communication. Healthy conflict is dependent on trust; mistrust breeds avoidance, suspicion, and accusation.
- Bring in objective, experience help. An objective perspective and voice can help cut through internal bias and dynamics.
The numbers don't lie: the key to success is building trust in your team's dynamics and nurturing emotional intelligence in your leadership. We can help you by bringing objective, experienced help in our Team Dynamics Workshop and our Integrated Leadership executive coaching process.
Your first step is easy to take. Let's talk today.