What is one trait that successful individuals tend to have in common?
Charisma? Drive? Passion? Probably all of the above, but they also share emotional intelligence, or EQ.
According to Psychology Today, “Emotional intelligence is the ability to identify and manage your own emotions and the emotions of others.” A rather simple definition, its relevance and importance in our everyday lives and in the context of business, however, is far reaching.
EQ is made up four main areas: self-awareness, self-management, empathy and social-awareness or management. In other words, emotional intelligence allows us to know and understand our emotions, be able to positively manage these emotions and have the capacity to understand and interact with others. In our daily lives, this is what allows us to build stronger relationships, for instance, or stay level headed even in the most stressful situations.
It’s no wonder, therefore, that our ability for this type of intelligence has been linked to achieving greater success, both in our personal and professional lives. But what about its role in the franchisee selection process?
“Workers with high EQ are better able to work in teams, adjust to change and be flexible,” said Mariah Deleon of Glassdoor in her article on Entrepreneur.com. “No matter how many degrees or other on-paper qualifications a person has, if he or she doesn’t have certain emotional qualities, he or she is unlikely to succeed.”
The same idea applies to potential franchisee candidates who are looking to become the owners of your franchise units. EQ is an indicator of behavior and assessing behavior is an important part of determining compatibility in the franchisee recruitment process.
A candidate lacking in the area of social awareness, for instance, will not be the best fit for a business model that relies on its owner to be out networking in the local community. Similarly, a candidate low in EQ may have a difficult time handling the stress of various pressures of business ownership or complying with set systems and procedures.
There are a number of resources available on the topic of emotional intelligence, including Daniel Goleman’s bestseller, Emotional Intelligence: Why It Can Matter More Than IQ.
For more information on how you can begin assessing your franchisee candidates during your recruitment process, contact us here.