Importance of Emotional Intelligence in Timely Decision Making

New Neuroscience evaluated researches on how the brain makes decisions provides a wealth of data. For example, while "common sense" says we have to ignore our emotions to make better decisions, current research suggests the opposite is true. Consciously evaluating feelings appears to be the key to making more successful decisions.

While many leaders have excellent technical and communication skills, they lack emotional intelligence. When a leader sets the tone for an organization, emotional intelligence becomes an inevitable part of the skill set. Organizations led by executives who lack emotional intelligence cannot survive in a complex business environment. Here’s why emotional intelligence is important.

Research shows that emotional intelligence (EI)?enables us to make effective decisions. Cornell University researchers found that individuals with higher EI picked up better on critical bodily signals and used that information to avoid risky decisions.

Emotion intelligence can help you make better decisions quickly.

A big piece of emotional intelligence is about knowing your values. When confronted with a seemingly tough decision, revisiting your values can make the decision suddenly and almost surprisingly straightforward. Values are like an internal rudder steering us through a life of decisions.

Using emotional intelligence to inform your decisions means being aware of what you are feeling when weighing your choices. It also means being aware of how others will feel based on the decisions you make. Being emotionally intelligent means asking yourself, are my emotions helping or hindering me here? Will other people feel like helping me or hindering me?

There are many keys to making better decisions, but in our experience, focusing on the three practices discussed here—and committing to implementing them once a decision is made—can yield significant returns early on.

Of course, this assumes that the decisions made by leaders at all levels of the organization reflect the company's strategy and its value creation agenda. This may seem obvious, but it bears repeating because it doesn't happen often. Research has found that high-performing companies make decisions more quickly with the help of emotional intelligence with ease, and execute them more frequently than their underperforming peers. On the other hand, companies that contemplated decisions for several months saw growth stagnate while their competitors overtook them.

Timely decision making requires effective communication.

Communication and decision making are dynamic processes essential for an organization's functioning. Communication involves transmission of information among individuals and subunits. Decision making uses information to set direction and solve problems.

Timely communication can be defined as communication occurring sufficiently early and promptly. For communication to be truly timely, it should not only be useful but also occur at an opportune time. People in organizations need information early so they can act promptly. Moreover, when communication is timely in an organization or enterprise, its leaders can make the most of every opportunity.

Timely decision making also requires effective teamwork.

As we said before, teamwork has become an indispensable component of business processes, hence, individuals must get good at "teaming"—reaching out, getting up to speed, effectively communicating and collaborating, making robust decisions, and implementing them.

Good decisions take into account multiple ideas and perspectives. Collaboration skills help you find a solution by working together with one or more teammates. Involving numerous people in the decision-making process can help bring together different skillsets, exposing you to other problem-solving methods and ways of thinking.

Practicing emotionally balanced intelligent decision making skills helps Leaders not only in making organizational goals focused decisions but also helps in communicating and implementing those decisions in effective manner. Keeping everyone’s interest in focus, makes everyone accountable and builds an organizational value system.

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