Page 189 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

Landry, L. (2019, April 3). Emotional intelligence in leadership: Why it’s
important. Business Insights Blog:
https://online.hbs.edu/blog/post/emotional-intelligence-in-leadership

How do these competencies impact the formation & management of psychological contracts?

Self-awareness, self-management, social awareness, and relationship management - play a significant role in

the formation and management of psychological contracts in the workplace. Here's how:

Formation:

 Self-awareness: This helps both employees and employers understand their expectations and needs
clearly. Employees with high self-awareness can better communicate their desires for career growth,

work-life balance, and recognition. Similarly, self-aware employers can articulate their values, culture,

and what they offer employees in return for their contributions.

 Social awareness: This fosters empathy and understanding, allowing both parties to consider each

other's perspectives during the initial stages of employment. Employees can understand the
organization's needs and culture, while employers can tailor their expectations and offerings to attract

the right talent.

181