I don’t know how to put this in a softer way but, way too many CPA partners think they know it all.
I don’t mean to be harsh or disrespectful. Experienced CPA partners do know a lot. They have spent years developing their technical skills. Many have become true experts in a specific niche or discipline. Often, they discount their vast knowledge by not charging fees that are appropriate for their exceptional expertise.
However, when you mention Emotional Intelligence (EQ), they are in the dark. In working with many partner groups over the years, I have found that usually, but not always, the managing partner demonstrates more traits of EQ than the other partners. That is probably why the managing partner was elected managing partner.
Emotional Intelligence is a term created by two researchers – Peter Salavoy and John Mayer – and popularized by Daniel Goleman in his 1996 book of the same name.
Some define it as the ability to:
- Recognize, understand and manage our own emotions
- Recognize, understand and influence the emotions of others
This means being aware that emotions can drive our behavior and impact people (positively and negatively), and learning how to manage those emotions – both our own and others – especially when we are under pressure.
According to TalentSmart, 90% of top performers have high EQ. EQ is responsible for 58% of your job performance and people with high EQ make $29,000 more annually than their low EQ counterparts. Maybe it is time to provide some EQ education and training to all your staff.