Learn the essentials of the best possible communication strategies to save you time and your business money.
Communication is an exchange of information between people involving the organization and sending of symbols. It can be verbal or nonverbal, written or spoken, one-way or two-way. The Sender of a message may not accurately or effectively communicate what he or she intends or the receiver may attach meanings that were not intended resulting in what is referred to as miscommunication. All communication includes:
the person or group that originates the message to be transmitted
the information transmitted, ideally, simply, clear, and concise
the form of message is transmision: voice, written, nonverbal actions, electronic
the person or group that hears or takes in the message as the intended recipient
The Cost of Misunderstanding
Employee misunderstanding refers to actions or errors of omission by employees who misunderstood, misinterpreted or were misinformed about company policies, business processes, job function or a combination of the three. To truly comprehend the importance of communication for you as a leader as well as your business, let’s review statistical data around communication in business.
lost annually in the UK and US due to employee misunderstanding
$500k+ / YEAR
annual costs to a 100-employee company for ineffective communication
53% LOWER RETURNS
to shareholders than those with effective communication practices
average cost to SMBs for every worker dealing with misaligned communication
Advantages of Effective Communication
Which statistic do you want your business to become part?
up 47% total to shareholders over five years in companies with highly effective communication practices
company HR and training programs rated "very good" have employees who are twice as committed to remaining in their jobs compared to fair or poor ratings
when immediate managers recognize, appreciate, and communicate good work of employees