Saturday, January 18, 2014

Digital 'EQ'

Digital EQ has three dimensions: Emotional Intelligence; Execution Excellence; Employee Engagement. 

Most organizations today operate in a dynamic, unpredictable digital environment; under those conditions, change must be part of normal day-to-day operations. And organization level EQ with such three dimensions –Emotional Intelligence, Execution Excellence, and Employee Engagement will become key success factor in the digital transformation.

Emotional Intelligence: People change each day, they grow, learn, and develop. Even businesses do. However, change is emotional, as it will disrupt the old way or the old habit to do the things, thus, high business EQ means to have an ability to respond to emotions, and cultivate a culture of innovation and learning, translate emotion into values-driven goals & purposes, and achieve high-performance result. Indeed, organizational EQ, as well as organizational IQ, are two important aspects of change managements. Here are five rings of effective change management. 
1). Meaning and Purpose - connected to personal and career meaning and purpose
2). Org IQ - the business policies, practices, processes, KPIs and Analytics-based decision making.
3). Org EQ - ability to respond to emotions, culture of learning, these are the skills to respond so that emotions are translated into Values-Driven goals and Purpose
4). Recognition and reward with "Performance Fact back"
5). Story and Myth; Change Management Symphony.

Execution Excellence:  Execution is another dimension of corporate digital EQ.  Execution is invisible; it has been taken for granted. It has been collectively decided that "execution just happens" so that all lights and eyes are taken off of the process to focus on another process, idea, product, etc. Meanwhile, most of the executions are in the dark, the haphazard execution happens and no one is there to see it, Organizations must have the strong EQ-as strategic agility to achieve execution excellence. Very few businesses have such agility, that's why execution excellence is so hard to achieve. The challenge is that the digital environment changes so fast nowadays that your strategy must be very flexible. Execution is difficult, also because all the key ingredients in it have mixed flavors. Most research to date has pointed to key aspects of successful strategy execution: being leadership, culture, and performance management systems / rewards, they all well mix the art and science of management disciplines and special ingredients of digital EQ. 

Employee Engagement: The third dimension of corporate digital ‘EQ’ is employee engagement; statistically around 80% of employees in the US are disengaged. High performance and satisfaction at work is most strongly related to the feeling that we can direct our own lives, learn and create new things, and do better by ourselves and our world; from talent management perspective, having an intense, passionate sense of ownership - fueled by empowerment, trust of management, HR systems of recognition and reward which all reinforce the other two dimensions of EQ–Emotional Intelligence and Execution Excellence As more often than not, the more engaged employees have high EQ and better capability to execute collaboratively.

Hence, the high business EQ with such three dimensions will encourage system thinking, enforce the culture of learning and innovation, inspire the high EQ leadership, and energize the people of the organization- making them "want to be there best and give their best", to enable the execution excellence.


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