While IQ was in demand in the 20th century, Emotional Quotient (EQ) is slowly becoming a prerequisite for a successful career in Corporates.
As the set-ups are slowly moving from manual processes to automated processes and with the advent of artificial intelligence, machine learning, advanced robotics, and other automation systems, Intelligence Quotient is being taken care of by the advanced algorithms leaving very little scope for organizations to be taken care through manual intervention. Automation is slowly acquiring the entire space where human thinking is involved, so much that algorithms for specific requirements are developed by a master algorithm. At our fingertips, all the intelligence can be setup required for a company - be it automating repetitive processes, quality checks, monitoring human resources, or security checks. But one thing that cannot be taken care of by these advanced systems is emotion.
Human psychology is very complex. There is no rule book that explains how human psychology can be applied, as no two minds think the same. Even though attempts have been made to mimic human psychology, advanced AI could be developed to replicate general thought processes. But, with rapid changes in human behavior, replicating the same and catering to their needs is very difficult for AI. This is where humans, thus EQ always have an edge over AI.
Emotional Intelligence is all about understanding a particular situation based on the set of people involved and responding to those situations. Emotional intelligence is required in every situation, of course crisis makes it very necessary. Further, with so much information available through social media, human behavior is changing at a rapid pace, breaking all social, and cultural barriers; which makes emotional intelligence all more important.
While companies are becoming global, employees have to deal with members from various cultures. They need to understand the sentiments of the company and their colleagues and respond to the situations quickly. While all these take time, companies, colleagues, and clients may not give time to adapt to the changing situations.
Overall, performers and leaders with high emotional quotient outshine others in handling very tough situations addressing a varied set of people. Realizing the need for it, many companies have been organizing awareness sessions and training programs to enhance the skill of its employees.