Business Implications of the New Reality 2008: - Stanton Chase ...

16
The New Reality 2008
boomers is well underway and that robust, documented and well-accepted succession
planning practices are rare. 4
More than half of all respondents (51
percent) report that their organizations do
not have a talent acquisition map in place
or planned for the next five years. Almost
a third (31 percent) said their
organizations have one planned but not implemented, and just 18 percent indicated
that their companies currently have a talent acquisition map in place. While more U.S.
respondents reported having a map in place (20 percent, compared to just 13 percent
of Canadian respondents), more Canadian respondents indicated having one planned
but not implemented (37 percent, compared to 29 percent of U.S. respondents).
The Role of Emotional Intelligence
The term emotional intelligence is often misunderstood and maligned as unscientific
or a concept inappropriate for the talent management field (and even less appropriate
for the corporate world). Nothing could be further from the truth. Keep in mind that
emotional intelligence comprises a large set of abilities that have been studied by
psychologists for many years. Thus, the way to measure emotional intelligence or
competence is through tests of specific abilities. 5
A valuable place to start when discussing
emotional intelligence is the review of
academic studies and psychological
publications on the subject. Emotional
intelligence, according to psychologists
John D. Mayer and Peter Salovey, is the
ability to perceive emotions, to access and
generate emotions so as to assist thought,
to understand emotions and emotional
knowledge and to reflectively regulate emotions so as to promote emotional and
intellectual growth. 6 Highly rational executives may find the term and the concept
itself too soft for the business world—something more fitting for a Dr. Phil broadcast
than a discussion of talent management. This is shortsighted. In his book, At the Heart
of Leadership: How to Get Results with Emotional Intelligence, Joshua Freedman
describes emotional intelligence as the ability to integrate thinking and feeling to
make optimal decisions. 7 Integrating the rational with the emotional reality of
associates and subordinates is one of the key attributes of successful leaders.
4
The Waters Consulting Group, Inc. “A Gathering Storm: Succession Planning in the Public Sector.” June
2007.
5
Cherniss, Cary. “Emotional Intelligence and Why It Matters.” Paper presented at the Annual Meeting of
the Society for Industrial and Organizational Psychology, April 15, 2000.
6
John D. Mayer and Peter Salovey, 1997.
7
Freedman, Joshua. At the Heart of Leadership: How to Get Results with Emotional Intelligence. June
2007.