Question: Research shows that lower Emotional Intelligence (EQ) scores correlate with the following, except for one:
Lower merit pay increases
Poor work/life balance
Lower job satisfaction
Answer: B. Poor work / life balance. Research shows that high Emotional Intelligence (EQ), studied for over 30 years, predicts success beyond an individual's knowledge, skills and abilities. Emotionally intelligent leaders have significantly greater annual profit growth, increased customer satisfaction, and higher personnel retention. Studies show that lack of EQ may limit a person's ability to achieve results. Lower EQ scores correlate with lower merit pay increases, lower job satisfaction and more burnout. Managers' and supervisors' EQ scores correlate with their performance ratings.
To learn more, you can read our blog article or become an expert in managing your Emotional Intelligence with our half day course dedicated to this topic only, or in the following programs which include emotional intelligence:
Question: What is the increase in value of having a PMP® credential vs. being a PM without one? (PMP=Project Management Professional from the Project Management Institute and PM= Project Manager)
Answer: According to a Smartsheet.com comparison of PMP Salaries vs. PM Salaries, the PMP certification is really worth the effort. Of course it varies by industry, years' experience and geographical location, but the PMP is a real differentiator that translates into increased compensation. Smartsheet aggregated the salary information for project managers from companies including PMI®, PayScale, Glassdoor, Indeed, Salary.com, Monster.com, Careerbuilder.com, the Robert Half Company and Angel List (a new website focused on startups.) Their findings indicate that it is usually worth a 20% higher salary, with ranges from 10 - 22%. Read here for more information.
Almost every Merit Career Development course is accredited by the Project Management Institute and earns participants 7 credits per day of training towards their PMP. Click here to view the course selections.
Question: What are two of the benefits of using the pre-mortem technique, an essential technique that your team should employ when finalizing a high-impact decision, a concept explained by Nobel Prize winner Daniel Kahneman, in his terrific book, Thinking, Fast and Slow. (We love this book for many reasons, but more about that later.) Yes, it's the opposite of a "post mortem" analysis - with far reaching impact.
In a nutshell, you ask your team to imagine that we are one year into the future. We implemented the decision and plan exactly as decided here today. The outcome was a total complete disaster; a total failure. Take 5 to 10 minutes to write a brief history of that disaster.
Answer: The principal advantage of the pre-mortem technique is that it legitimizes doubts and encourages everyone, even supporters of the decision, to search for possible threats not considered in the decision-making process.
Relevant courses where we teach the pre-mortem technique include:
Question: How does "Framing" impact our management of risk?
Answer: The way a question is worded, or framed, impacts our thought processing and can sway our openness or aversion to risk when making decisions. Research by Kahneman and Taversky shows that when we use "get" in the question, we will almost always take the safer option. If the question is phrased with "lose", we choose the riskier one.
For example, If we were told that we have a 50% chance of getting free tickets to the concert if we attend an information session, we are less likely to do this than if we were told we have a 50% chance of losing the concert tickets.
Relevant courses where we teach risk management techniques include:
Question: Did you know that people judge you on how well they think you listen? In fact, in 25 studies of critical employment skills, "listening" was cited most frequently. Employ "Active Listening" to assure that others know you are genuinely interested. How do you do this?
Answer: Active listening involves both non-verbal and verbal skills. "Following" is a useful verbal skill and is demonstrated by focusing on the speaker and simply showing neutral encouragement by saying things at appropriate points, such as: I see, I understand, Explain this further, please, and so on.
Learn more about active listening in these courses:
Question: Simulation teaching tools like SimulTrain®, have at least 4 documented advantages over classroom-style professional training in learning how to resolve practical dilemmas. How many do you know?
Answer: The advantages of simulation learning include:
Experiential learning from first-hand experience increases retention of knowledge.
Integration of concepts because experiential learning increases understanding, participants learn to link knowledge areas and apply concepts broadly.
Risk-free learning enables participants to learn from their mistakes in a safe environment.
Adjustable difficulty controls allow instructors to increase competency by matching learners experience to their content and pace of learning.
See first-hand how simulation tools like SimulTrain® aid learning in these courses:
Question: "We all have limitations in mental data and memory storage, intelligence, and experiences that can lead us to making poor decisions. This phenomena has a name, according to Herbert A. Simon, who won a Nobel Prize for this. It is called _________ __________?"
Answer: Bounded Rationality
Bounded rationality is the concept that explains why we are limited in our ability to make the best decision possible. It refers to our cognitive limitations of the mind and the time available to make the decision. The short answer is that we are seeking a satisfactory solution rather than an optimal one.
Learn more about the influencers that affect our decision-making and tools we can learn to optimize them in our courses...