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The Cost of Poor Communication

by | Sep 20, 2022

▪️ A study published by David Grossman in The Society of Human Resource Management (SHRM) titled “The Cost of Poor Communication” reported that a survey of 400 companies with 100,000 employees each cited an average loss per company of $62.4 million per year because of inadequate communication to and between employees.

▪️ Another stunning piece of data from SHRM: Debra Hamilton asserted, in her article “Top Ten Email Blunders that Cost Companies Money,” that miscommunication costs even smaller companies of 100 employees an average of $420,000 per year.

These findings were reported BEFORE the pandemic. Can you imagine what these numbers might be now?

While worldwide surveys confirm the importance of good communication, SHRM shares that most companies are deficient in their communication skills.

Speak For Yourself® take-aways on communication & leadership

  • The inability to communicate your understanding of your business will leave you unable to leverage your knowledge for the effectiveness of your organization.
  • Those with strong communication skills will be strategically positioned to have a greater and more visible impact.
  • All aspects of running an organization, from staffing to training to implementing policies to making more money, require effective communication.
  • “Effective communication” means appearing approachable and conversational while you present info logically – with good “Velcro” – using open body language, and channeling your nervous energy into positive energy.

How can poor communication cost you?

  1. You could land your company in court (worst case scenario!).
  2. You could make your company unable to recruit key talent.
  3. You WILL cost the company money.

What can you do?

▪️ Increase your value by improving communication skills across your company.

▪️ And we’d be happy to work with you!

#Communication  #SpeakForYourself  #KarenCortellReisman  #CostOfPoorCommunication

 

 

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