Wells Fargo-Presentation to the Board

Ashley Tunstall

Professional Development Program Proposal

11/12/2017

BUS-520

Well Fargo: Management and Leadership

EI and Motivation 

People tend to have differing personalities, wants and needs and also different ways of showing their emotions. It thus requires a lot of tact sans cleverness for an organization or an individual to go through this so that they can achieve their desired success. Emotional intelligence refers to the ability of an individual to recognize their emotions, understand what they are saying and also realize how their emotions affect the people around them. It also entails people’s perceptions of others, and when they can understand how an individual feels, they can manage their relationships more effectively.

One of the EI building blocks that would impact the ability of the management to enhance the employee’s performance and job satisfaction is motivation. The people who have a high degree of emotional intelligence tend to be more motivated, and they are thus willing to defer the immediate results so that they can achieve the desired success in the long term (Chakrabarti, & Chatterjea, 2017). They tend to be highly productive, love to be challenged and also try to be effective in whatever that they do. Motivation plays a great role in the enhancement of the employees’ management and job satisfaction since the employees are more inclined to give their best.

Based on the motivational theory, one of the ways in which my taskforce would utilize positive reinforcement to influence the members of the organization is by rewarding positive behaviors such as excellent performance every time it occurs. This is very imperative in that it will lead to repeated excellent performance. Rewarding the same behavior intermittently usually yields better results since the employees work harder in the case that the bar has been raised and it is likely to foster a change in the behavior among the employees. Intermittent reinforcement also assists in the weaning of the employees away from their dependence on the reinforcement and hence turns the desired behavior to become a part of their habits.

EI and Social Skills and Decision Making

The core concepts of emotional intelligence enhance social skills in that the people who have a high level of emotional intelligence can form and maintain interpersonal relationships in the organization and also fit well in the various groups. The employees at Well Fargo who have a higher emotional intelligence also tends to be better in the understanding of their psychological states such as effective stress management and they are thus less likely to suffer from depression. They are thus able to relate well to their colleagues since they can develop healthy relationships with them. Social skills usually range from skills and competencies, and most of them are usually rooted in the personal confidence and self-esteem of an individual. The development of the social skills, ease of talking, being a good listener, sharing and being trustworthy enables people to become more charismatic and attractive to the others. Emotional intelligence thus, in turn, assists in the improvement of the self-esteem and confidence and hence makes it easy for both personal and professional dialogue and greater understanding as well as acceptance of an individual’s emotions.

The core concepts of emotional intelligence would enhance the decision-making efficacy of the management team at Well Fargo. One of the ways in which this can be achieved is that emotional intelligence helps in removing the dread of the making of decisions. It helps one to put fear that is likely to keep an individual locked in inaction at bay. This does not mean that one will make emotionless decisions, but it helps in the identification of the emotions that are useful and those which directly relate to the decisions that need to be made in the organization so that the ones that do not matter can be removed. Secondly, emotional intelligence enhances decision making efficacy in that it helps one to stoop any emotions such as stress and anxiety and also positive ones such as excitement from influencing the decisions that are unrelated to them.

Effective Teams

One of the core attributes of an effective team is clear unity of purpose. A team can be said to be effective if they have freely discussed the objectives, and members are ready to commit themselves to them. The objectives discussed should be meaningful to each of the group members. The other core attribute of an effective team is that they have set and demanding performance goals. An effective team should have set goals, and they should know we translated into concrete milestones that are well-defined against the measure used. The group is thus able to define and also achieve a continuous series of small wins along the way to their larger goals. The other characteristic of an effective team is that the team members can freely express their feelings and ideas. Effective teams are also able to view disagreements positively whereby they are examined carefully, and the group seeks ways of resolving these disputes rather than dissenting. In case there are basic disagreements that cannot be easily resolved, the group usually figures out ways of living with them without allowing them to block the efforts towards the achievement of their goals (Wheelan, 2014).

One of the strategies that would be implemented at Well Fargo to develop team dynamics that would benefit the organization is valuing everyone’s contribution. Teams can achieve their desired success if they draw from the expertise of all the members whereby each of the individuals contributes different skills as well as experience. Team members are experts in different areas which can be financial, technical and management areas among others and for a team to attain its full potential, all the team members should play an active role, and this can only be attained if the team members feel that their contribution is highly valued. The other strategy that I would implement to develop team dynamics is empowering the team members. A delegation of the authority to the team members and empowering them in the decision-making process can greatly aid in increasing the team cohesion. When the team members feel that they have ownership of their issues, they are more likely to pull together and work collaboratively so that they can achieve the agreed outcome. Empowerment usually works the best when all the members that are involved are clear about the decisions that can be implemented and the ones that need further authorization.

Reward Systems

A motivate workforce plays a key role in the achievement of the desired success in an organization. When the employees are motivated to increase their level of productivity, the effectiveness of an organization increases as well as the efficiency in the achievement of the goals. It is thus important for managers to understand the power of the reward system and how it can be used to influence the employee’s behavior. The rewards should be aligned with the organizational goals, and they should follow when an employee assists the organization in the achievement of the set goals. The reward system at Well Fargo should be both intrinsic and extrinsic. The intrinsic rewards include personal achievement, sense of pleasure, professional growth and also the accomplishment. As part of the internal motivation, it should offer a personal pat on the employees to reflect their competency, self-control, their ability, growth and also knowledge. When the employees are more intrinsically motivated, they strive to attain higher levels of productivity and also develop professionally. Extrinsic rewards, on the other hand, are very imperative in the motivation of the employees in the short term so that they can work towards a single organizational goal. One of the strategies that I will incorporate to motivate the employees is offering financial incentives. These as part of the employee recognition programs can be true motivators, but they need to be combined with verbal recognition and support. The other strategy that I would use to motivate the employees at Well Fargo is recognizing and rewarding good work. Praising the employees for the achievement of their goals is very imperative in the maintenance of a work environment that is enjoyable. The appreciation channeled can range from positive feedback to small rewards and tokens.

Executive Summary

Emotional intelligence has a positive relationship with the motivation of the employees in that the employees who have a high degree of emotional intelligence tend to be more motivated and they are thus willing to defer the immediate results so that they can achieve the desired success in the long term. The employees are thus able to achieve a high level of productivity; they love to be challenged and try to attain effectiveness in all that they do. Based on the theories of motivation, rewarding positive behaviors is one of the ways in which taskforce would use positive reinforcement to influence the organizational members. Rewarding the employees usually motivate them to work extra harder and in the process, the desired behavior becomes a habit if intermittent reinforcement is employed.

Emotional intelligence enhances social skills in that person who have a high level of emotional intelligence can form and maintain interpersonal relationships in the organization and also fit well in the various groups. Social skills usually range from skills and competencies, and most of them are usually rooted in the personal confidence and self-esteem of an individual. EI also enhances efficacy in decision-making in that it helps one to put fear that is likely to keep an individual locked in inaction at bay. It also helps one to stoop any emotions such as stress and anxiety and also positive ones such as excitement from influencing the decisions that are unrelated to them.

Some of the core attributes of effective teams are; clear unity of purpose, clearly set and demanding performance goals, team members can freely express their feelings and ideas and also they can view disagreements positively and hence scrutinize them and find ways of resolving them. Some of the strategies that need to be employed to develop team dynamics in the organization include; valuing everyone’s contribution and empowering the team members.

Lastly, an effective reward system should be both intrinsic and extrinsic to ensure that the employees are motivated both internally and externally. Some of the strategies that can be employed to motivate employees include; offering financial incentives and recognizing and rewarding any good work in the organization.

References

Chakrabarti, G. & Chatterjea, T. (2017). Employees' Emotional Intelligence, Motivation & Productivity, and Organizational Excellence A Future Trend in HRD. Singapore: Springer Singapore.

Wheelan, S. (2014). Creating Effective Teams : A Guide for Members and Leaders. Thousand Oaks: SAGE Publications, Inc.