Better Decision Making THE INTERSECTION OF EMOTIONAL INTELLIGENCE AND RISK APPROACH

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1 Better Decision Making THE INTERSECTION OF EMOTIONAL INTELLIGENCE AND RISK APPROACH

2 Tips & Tricks Tweeting? Please use these and #TIwebinars Need support? US: ext 2 UK: ext 2

3 Welcome Training Industry spotlights the latest news, articles, case studies and best practices within the training industry. Tweeting? Please use these MHS_talent and #TIwebinars Need support? US: ext 2 UK: ext 2

4 Our Speaker Drew Bird, MSc, MA EQ Master Trainer, RTC Master Trainer Founder, Principal - EQ Development Group

5 Why Decision Making? In a knowledge based economy, we propose that a knowledge worker s primary deliverable is a good decision. In addition, more and more people are being tasked with making decisions that are likely to be biased because of the presence of too much information, time pressure, simultaneous choice, or some other constraints. How Can Decision Making Be Improved? Milkman, Chugh, Bazerman. 2008

6 Poll 2 When you think about decision making in your organization, what do you think is the biggest challenge facing leaders? Too much information for each decision Too many unknowns Lack of clarity on desired outcomes Pressure to make decisions too quickly Concerns about making mistakes Too many decisions to be made

7 What We Will Explore Today How helping people to understand their emotional intelligence, and their approach to risk, can help them make decisions better, which will hopefully lead to them making better decisions.

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9 What Is Emotional Intelligence? Emotional intelligence is a set of emotional and social skills that collectively establish how well we: Perceive and express ourselves Express thoughts Develop and maintain social relationships Cope with challenges Use emotional information in an effective and meaningful way 9

10 The EQ-i 2.0 Model of Emotional Intelligence 10

11 Decision Making Composite Copyright 2011 Multi-Health Systems Inc. All rights reserved. Problem Solving is the ability to find solutions to problems in situations where emotions are involved. Problem solving includes the ability to understand how emotions impact decision making. Reality Testing is the capacity to remain objective by seeing things as they really are. This capacity involves recognizing when emotions or personal bias can cause one to be less objective. Impulse Control is the ability to resist or delay an impulse, drive or temptation to act and involves avoiding rash behaviors and decision making. 11

12 Using The EQ-i Scientifically validated, trait based measure of emotional intelligence based on the EQ-i 2.0 Model 133 Items Minutes to complete. Scores for Total EI, Per Composite, and Per Subscale

13 Where Does Risk Fit? Our individual approach to risk influences how we process information, and ultimately how and when we make a decision. Something is only risky when the outcome is not certain. As soon as the outcome is not 100% certain (or believed to be 100% certain), our risk approach comes into effect.

14 Understanding Approach To Risk

15 The Risk Type Compass Assessment Based primarily on 4 of the Big 5 Personality Traits Extraversion Openness to Experience Conscientiousness Neuroticism Responses identify which of 9 possible Risk Types an individual prefers, along with an indication of the strength of preference. Also identifies variability between different domains of risk such as Financial, Reputational, Health and Safety etc.

16 The Risk Type Compass

17 The Eight Risk Types EXCITABLE Uninhibited, spontaneous, unpredictable and distraught when things go wrong. INTENSE Enthusiastic and committed, but pessimistic and easily defeated by set-backs. WARY Well-organized but anxious and fearful of failure, they passionately seek to control. PRUDENT Cautious, self-controlled and most comfortable with continuity and familiarity. DELIBERATE Imperturbable, confident and systematic, they are fearless and well prepared. COMPOSED Calm, cool-headed and optimistic, they seeming oblivious to risk. ADVENTUROUS Calm and unemotional but impulsive, daring, and up for any challenge. CAREFREE Unconventional and excitement seeking, their imprudence makes life exciting.

18 Connecting EQ & Risk Type

19 Services We Offer Certification in both EQ-i 2.0, and Risk Type Compass Emotional Intelligence Focused Courses, Workshops, and Programs. Decision Making Courses & Workshops. Keynote & Breakout Sessions EQ Focused Coaching Assessment Services (EQ-i & RTC) Online courses Group Mentoring

20 Connect

21 Upcoming webinars August 17: Brain-Based Learning Principles for Maximum Retention in the Virtual Classroom August 22: Expanding the Reach of Your Classroom with Video

22 More ways to get involved

23 Thank you On behalf of Training Industry, thanks to: Today s speaker: Drew Bird, MSc, MA Our sponsor: MHS Assessments All of you for attending! Questions or Comments? Contact Amanda Longo: alongo@trainingindustry.com