Emotional intelligence is important for both managers and employees as it helps reduce stress, prevent burnout syndrome, make better business decisions, etc. This paper presents components of emotional intelligence according to Goleman, which are divided into two categories: personal competencies and social competencies. Personal competencies include self-awareness, self-control and motivation, while social competencies include empathy and social skills. A high level of emotional intelligence in a collective enables networking, successful implementation of strategies and helps increase the intellectual capacity of the organization. The goal of this research was to analyze how well managers perceive the importance of emotional intelligence, that is, emotional competencies as well as how they implement them in their work environment. The research also dealt with analyzing the methods which managers use to further develop these competencies to ensure effective team leading and long-term company success. The research was conducted through in-depth interviews with 10 managers of both sexes from various managerial positions in Croatian companies. Results show the interviewees recognize the importance of emotional intelligence as a key factor for successful team and business management, which is a positive sign for long-term improvement of team dynamics and business results. The interviewees are aware of how important continual development of emotional intelligence and emotional competencies is, which helps them face everyday business challenges.