What comes after IQ and EQ?
Updated: Dec 2, 2019
IQ was the metric we measured ourselves (or others measured us) by since 1904.
Then came EQ, first mentioned in a 1964 psychology paper but popularised by Daniel Goleman in 1995.
So what comes next?
Hear me out.
Soul Quotient is the measurement of how individuals and companies embody and express their values, their purpose, and their humanity.
'SQ' is also reflects how individuals and companies are able to create and engage and align tribes and communities because of their compelling vision and resonance.
Entrepreneurs like Jessica Alba, Mike Cannon-Brookes, and Ray Dalio might be said to have high SQ.
All businesses that thrive in the future will look a lot more like the social entrepreneurships of today, with a meaningful purpose at their core.
Unilever are moving in this direction with "sustainable living brands". Their research shows that 2/3 of consumers around the world say they choose brands because of their stand on social issues; and over 90% of millennials say they would switch brands for one which champions a cause.
Millennials are already the biggest segment of employees in the USA and will constitute 35% of the the global workforce by next year. Nine out of 10 millennials live in emerging markets so Asia will be very heavily impacted.
Their spending power will surpass that of Gen X next year too, and continue to rise and rise. This will make them the most powerful segment both as consumers and as employees.
This means that they will shape businesses from the outside and from the inside, based on the desirability of their product/service offering, and their desirability as workplaces.
In 2018, Unilever's 28 Sustainable Living Brands – 28 of them – grew 69% faster than the rest of their business. “We believe the evidence is clear and compelling that brands with purpose grow," said Alan Jope, CEO. "Purpose creates relevance for a brand, it drives talkability, builds penetration and reduces price elasticity. In fact, we believe this so strongly that we are prepared to commit that in the future, every Unilever brand will be a brand with purpose.”
This resonates with the zeitgeist because millennials expect -- indeed, demand -- more 'meaningful' interchanges and exchanges for their labour. And will call out companies that they see breaching the 'woke code' (I just coined that expression because no other phrase seemed to describe that new state).
Authenticity, congruency and vulnerability will be to the fore, individually and corporately, wrapped around that purposeful core.
So, hand me the microphone, Mr Goleman. Great job, but I’ll take from here, thanks.
(I'm just thinking out loud, but it seems to make sense, right? What do you think?)