Good communication practices are at the heart of every successful business. Communication serves two essential functions in every organization. It disseminates the information needed by employees to get things done and builds relationships of trust and commitment. Without it, employees end up working in silos with no clear direction, vague goals and little opportunity for improvement. Successful projects and change programs are a rarity and real leadership is scarce.
Staff morale plummets when communication is ambiguous, unfocused, lacking in important details and does not allow for genuine two-way dialogue. Critically, the impact of poor communication hits customers and suppliers. They begin to feel disenfranchised and take their business elsewhere.
Not long ago, the ability to communicate well was viewed as a "soft" skill that was nice to have, but considered not really necessary. In today's rapidly changing business climate, it's a mandatory requirement for everyone, from top level executives to the people on the shop floor. Organizations that fail to convey clear strategies and processes and engage employees in shared goals are likely to lose to companies with more effective communication practices. The Business Impact of Poor Communication
We all feel the personal costs of poor communication when a manager is rude or when we are not invited to an important meeting. However, what are the tangible costs of not paying attention to the quality of communication practices in your workplace? Below we list the key business costs as a result of poor communication practices. The items on the list may convince you to take a closer look at the practices in your organization. Increased employee turnover
People voluntarily leaving is a significant cost to any employer. Employee replacement costs can be as high as three times the person's annual salary. A Watson Wyatt study found that companies that communicate most...