Wednesday, December 15, 2021

Emotional Intelligence and Conflict resolution in a banking environment.

Figure1: Heart vs Brain Concept
(Source: Silverarts, 2021)












What is Emotional Intelligence?

In simple terms, emotional intelligence is the ability to recognize, use, and manage one's own emotions in a constructive way in order to reduce stress, communicate effectively, sympathize with others, overcome obstacles, and diffuse conflict.


Figure2: Affective Education
(Source: MyAspergersChild, 2021)

Naeem et al., (2008, p.55) explains that, the service providers are required to be adaptive toward the demands and behaviors of the customers and it is basically emotional intelligence that helps managers in responding effectively towards the customer needs. Also, in the banking sector, they require the potentials such as interpersonal, intrapersonal and technical skills. These skills can be easily translated into a single term which is known as emotional intelligence.


How can emotional intelligence be leveraged for conflict resolution in a bank?

Conflicts resolution is not always an easy task to deal with, due to perceptions, expectations, behaviours, attitudes and traits of individuals differ from one another. Therefore, in the banking sector, not only there will be customer complains to be handled, but also conflicts within internal staff due to employee dissatisfaction. 

Figure3: Solving the Biggest Problems
(Source: 6Seconds.org, 2021)

Although these conflicts are difficult to be handled, the banking sector can have a better understanding of their consumers and internal staff through emotional intelligence, as well as a better ability to recognise and regulate service quality based on customer wishes and employee satisfaction. “Emotionally intelligent people get more satisfaction from their jobs” (Shadahat et al., 2011 cited in Qureshi, 2015, p.2). A study also concluded that “emotional intelligence is strongly related to dimensions of service quality indicating that when employees of the organization practice the skills of emotional intelligence, it enhances service quality” (Naeem et al., 2008, p.55).


Conclusion

Even though the banking sector has to deal with different kind of conflicts on a daily basis, all those conflicts can be easily resolved using emotional intelligence. Therefore, it is essential that all staff in the banking sector practice emotional intelligence as it is the key to conflict resolution.  


Figure4: Mastering Emotional Intelligence

(Source: ACCA, 2018)

References

6Seconds.org, (2021) Solving the Biggest Problems. [ONLINE]. Available at: https://www.pinterest.co.uk/pin/297096906640410302/ [Accessed 7 December 2021].

ACCA, (2018) Mastering emotional intelligence. [ONLINE]. Available at: https://www.youtube.com/watch?v=_V18r31JJdc [Accessed 7 December 2021].

MyAspergersChild, (2021) Affective Education. [ONLINE]. Available at: https://www.myaspergerschild.com/2018/04/affective-education-how-to-teach.html [Accessed 7 December 2021].

Naeem, H., Saif, M. I., & Khalil, W. (2008). Emotional Intelligence and Its Impact on Service Quality Empirical Evidence from The Pakistani Banking Sector. International Business & Economics Research Journal (IBER), 7(12). https://doi.org/10.19030/iber.v7i12.3313

Qureshi, M. (2015). Human Resource Practices in Pakistan Banking Sector: A Conceptual Framework Including Personality Traits, Emotional Intelligence and Employee Performance. International Journal of Scientific and Research Publications, [online] 5(1), pp.1–4. Available at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.664.2222&rep=rep1&type=pdf [Accessed 11 Dec. 2021].

Silverarts, (2021) Heart vs Brain Concept. [ONLINE]. Available at: https://www.dreamstime.com/heart-brain-concept-conflict-emotions-rational-thinking-teamwork-balance-soul-intelligence-vector-image124563907 [Accessed 7 December 2021].





19 comments:

  1. Emotional Intelligence (EI), the key to improving client building, existing relationships, negotiation techniques and leadership skills, can best be taught, accessed, coached, developed and enhanced by using improvisation techniques to support emotive learning. Cognitive learning is less effective because it is knowledgebased. As such, comprehending the concepts of EI is not enough. Increasing one’s EI is like exercising a muscle rather than learning more about a topic. It requires the appropriate action and reinforcement ‐‐ much like lifting weights to develop stronger muscles rather than reading an exercise book (McGrath, 2013).

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  2. Emotional intelligence increases ability to make sound decisions, build and sustain collaborative relationships, deal effectively with stress, and cope to a greater degree with constant change.
    This is an essential point to perform well in the workplace, accomplishing various business goals and objectives in organization as well.

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  3. Excellent Knowledge For all users. Your information are very interesting and unique. Thank you for sharing

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  4. Understand the other person's point of view without judgment will be very important when handling customers. Excellent article which illustrate the importance of emotional Intelligence and Conflict resolution.

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  5. Individuals with high levels of emotional intelligence are able to distinguish between their own internal feelings and those they encounter in their surroundings. Also known as "Emotional Intelligence", it is the ability to understand and control situations and make decisions based on one's perceptions of emotions.

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  6. This comment has been removed by the author.

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  7. Emotional intelligence can be the game changer to high performance and personal leadership.

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  8. Emotions come before thoughts, according to science. When our emotions are high, our brains change how they work, reducing our mental skills, decision-making abilities, and even interpersonal skills. Understanding and controlling our own (and others') emotions can help us achieve greater success in both our personal and professional lives.This is a great article about emotional intelligence thank you.

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  9. Emotional intelligence in the workplace begins from inside, with each employee. It means considering many parts of your emotional states and paying time to developing self-awareness, self-regulation, motivation, empathy, and social skills. Thank you foe sharing a valuable article with us.

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  10. You might imagine someone who, no matter what issues he faces, never loses control of his fury. You may imagine someone who has the total trust of her team, who listens to them, is approachable, and always makes well-informed decisions.
    These are characteristics of people who have a high level of emotional intelligence.Your article is an eye opener , Thank you

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  11. Owing to complexity and working conditions in workplace, the conflict in workplace is ubiquitous. Hence, there should be mechanism to resolve conflicts. Emotional intelligence is a key instrument to effectivelly persuade relevant employees to a amicable and fair solution, thank you

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